Document ID: chunk:federal_register_of_legislation:C2010C00691:body:0:p33
Version: federal_register_of_legislation:C2010C00691
Segment Type: other
Provision Reference: 
Character Range: 79562–82234

initial payment of tax under section 221AP;
the company may lodge an application with the Commissioner for:
  (c) the determination of an estimated class B debit in relation to the
liability reduction action or in relation to the payment of the initial
payment of tax; or
  (d) the determination of such an estimated class B debit in substitution for
an earlier determination.
  "(2) An estimated class B debit in relation to an initial payment of tax
must relate to the refund of that payment under subsection 221AQ(3), 221AR(6)
or 221AU(4).
  "(3) The application must:
  (a) be made before the termination time; and
  (b) be in the approved form; and
  (c) specify the amount of the estimated class B debit applied for.
  "(4) The Commissioner:
  (a) may determine an estimated class B debit not greater than the amount
specified in the application; and
  (b) must serve notice of any such determination on the company.
  "(5) If:
  (a) a company lodges an application with the Commissioner on a particular
day (the 'application day'); and
  (b) at the end of the 21st day after the application day, the Commissioner
has neither:
    (i) served notice of an estimated class B debit determination on the
company; nor
    (ii) refused to make an estimated class B debit determination;
the Commissioner is taken, on the 22nd day after the application day, to
have:
  (c) determined an estimated class B debit in accordance with the
application; and
  (d) served notice of the determination on the company.
  "(6) A notice of an estimated class B debit determination has no effect if
it is served after the termination time.".

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993
- SECT 81
Insertion of new section

  81. Before section 160AQE of the Principal Act the following section is
inserted in Division 4 of Part IIIAA:
How to work out the class A required franking amount and the class
B required franking amount
  "160AQDB.(1) For the purposes of this Part, the class A required franking
amount for a dividend paid to a shareholder in a company is the amount that
would be the required franking amount for the dividend if:
  (a) the reference in section 160AQE to the franking surplus of the company
at the beginning of the reckoning day for the dividend were, by express
provision, confined to the class A franking surplus of the company at the
beginning of that day; and
  (b) each reference in section 160AQE to a franked amount were, by express
provision, confined to a class A franked amount; and
  (c) each reference in section 160AQE to a required franking amount were, by
express provision, confined to a class A required franking amount; and
  (d) each