Document ID: chunk:federal_register_of_legislation:C2025C00029:section:11:p46
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 11 (pt 46/64)
Character Range: 3416143–3418980

III of that Act (distributions to entities connected with a *private company);
 (iii) section 109 of that Act (excessive payments to shareholders, directors and associates);
 (iv) section 47A of that Act (distribution benefits—CFCs);
 (h) an amount that is taken to be an unfranked dividend for any purpose:
 (i) under section 45 of the Income Tax Assessment Act 1936 (streaming bonus shares and unfranked dividends);
 (ii) because of a determination of the Commissioner under section 45C of that Act (streaming dividends and capital benefits);
 (i) a *demerger dividend;
 (j) a distribution that section 152‑125 or 220‑105 of this Act says is unfrankable;
 (k) a distribution by a *listed public company that is consideration for the cancellation of a *membership interest in the company as part of a selective reduction of capital, including a selective reduction within the meaning of section 256B of the Corporations Act 2001.

202‑47  Distributions of certain ADI profits following restructure
 (1) This section applies to an amount paid by a body corporate if:
 (a) the body corporate is a non‑operating holding company within the meaning of the Financial Sector (Transfer and Restructure) Act 1999; and
 (b) a restructure instrument under Part 4A of that Act is in force in relation to the body; and
 (c) because of the restructure to which the instrument relates, an *ADI becomes a subsidiary (within the meaning of that Act) of the body; and
 (d) the amount is sourced, directly or indirectly, from the profits of the ADI before the restructure instrument came into force; and
 (e) the amount would have been a *frankable distribution if it had been distributed by the ADI before the restructure instrument came into force.
 (2) The amount:
 (a) is taken to be a dividend paid by the body, for the purposes of this Act (and so is a *distribution by the body); and
 (b) is not taken to be an *unfrankable distribution by the body just because of paragraph 202‑45(e) (which makes distributions from *share capital accounts unfrankable).

Subdivision 202‑D—Amount of the franking credit on a distribution

Guide to Subdivision 202‑D

202‑50  What this Subdivision is about

      The amount of the franking credit on a distribution is that stated in the distribution statement, unless the amount stated exceeds the maximum franking credit for the distribution.
      In that case, the amount of the franking credit on the distribution is taken to be the maximum franking credit for the distribution, worked out under this Subdivision.

Table of sections
202‑55 What is the maximum franking credit for a frankable distribution?

Operative provisions
202‑60 Amount of the franking credit on a distribution
202‑65 Where the franking credit stated in the distribution statement exceeds the maximum franking credit for the distribution