Document ID: chunk:federal_register_of_legislation:C2025C00014:section:177ea:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 177EA (pt 2/6)
Character Range: 1627991–1630750

respect of each distribution made to the relevant taxpayer or that flows indirectly to the relevant taxpayer;
 (b) a determination that no imputation benefit is to arise in respect of a distribution or a specified part of a distribution that is made, or that flows indirectly, to the relevant taxpayer.
A determination does not form part of an assessment.

Notice of determination
 (6) If the Commissioner makes a determination under subsection (5), the Commissioner must:
 (a) in respect of a determination made under paragraph (5)(a)—serve notice in writing of the determination on the corporate tax entity; or
 (b) in respect of a determination made under paragraph (5)(b)—serve notice in writing of the determination on the relevant taxpayer.

Publication of determination in relation to listed public company denying imputation benefit
 (7) If the Commissioner makes a determination under paragraph (5)(b), in respect of a distribution made by a listed public company, the Commissioner is taken to have served notice in writing of the determination on the relevant taxpayer if the Commissioner causes the notice to be published in a manner that results in the notice being accessible to the public and reasonably prominent. The notice is taken to have been served on the day on which the publication takes place.

Objections
 (9) If a taxpayer to whom a determination relates is dissatisfied with the determination, the taxpayer may object against it in the manner set out in Part IVC of the Taxation Administration Act 1953.

Effect of determination of franking debit or exempting debit
 (10) If the Commissioner makes a determination under paragraph (5)(a):
 (a) on the day on which notice in writing of the determination is served on the entity, a franking debit or exempting debit of the corporate tax entity arises in respect of the distribution; and
 (b) the amount of the franking debit or exempting debit is such amount as is stated in the Commissioner's determination, being an amount that:
 (i) the Commissioner considers reasonable in the circumstances; and
 (ii) does not exceed the amount of the franking debit or exempting debit of the entity arising under item 1 of the table in section 205‑30 of the Income Tax Assessment 1997 or item 2 of the table in section 208‑120 of that Act in respect of the distribution.

Effect of determination that no imputation benefit is to arise
 (11) If the Commissioner makes a determination under paragraph (5)(b), the determination has effect according to its terms.

Application of section to non‑share dividends
 (12) This section:
 (a) applies to a non‑share equity interest in the same way as it applies to a membership interest; and
 (b) applies to an equity holder in the same way as it applies to