Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p32
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 32/34)
Character Range: 3604487–3607507

to Subdivision 208‑B

208‑55  What this Subdivision is about
      If a former exempting entity makes a distribution in circumstances where it could be franked, the entity can frank the distribution with an exempting credit.

Table of sections

Operative provisions
208‑60 Franking with an exempting credit

Operative provisions

208‑60  Franking with an exempting credit
  An entity franks a *distribution with an exempting credit if:
 (a) the entity is a *former exempting entity when the distribution is made; and
 (b) the entity is a *franking entity that satisfies the *residency requirement when the distribution is made; and
 (c) the distribution is a *frankable distribution; and
 (d) the entity allocates an *exempting credit to the distribution.
Note: The residency requirement for an entity making a distribution is set out in section 202‑20.

Subdivision 208‑C—Amount of the exempting credit on a distribution

Guide to Subdivision 208‑C

208‑65  What this Subdivision is about
      The amount of the exempting 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, it is nil.

Table of sections

Operative provisions
208‑70 Amount of the exempting credit on a distribution

Operative provisions

208‑70  Amount of the exempting credit on a distribution
 (1) Subject to subsection (2), the amount of the *exempting credit on a *distribution is that stated in the *distribution statement for the distribution.
 (2) If the sum of the *franking credit and the *exempting credit stated in the *distribution statement for a *distribution exceeds the *maximum franking credit for the distribution, the amount of the exempting credit on the distribution is taken to be nil.
Note: If the franking credit stated in the distribution statement exceeds the maximum franking credit for the distribution, the amount of the franking credit on the distribution is taken to equal that maximum under section 202‑65.

Subdivision 208‑D—Distribution statements

Guide to Subdivision 208‑D

208‑75  Guide to Subdivision 208‑D
      Former exempting entities and exempting entities that make certain distributions must provide additional information in the distribution statement given to the recipient.

Table of sections

Operative provisions
208‑80 Additional information to be included by a former exempting entity or exempting entity

Operative provisions

208‑80  Additional information to be included by a former exempting entity or exempting entity
 (1) A *former exempting entity that makes a *distribution *franked with an exempting credit must include in the *distribution statement given to the recipient, a statement that there is an *exempting credit of a specified amount on the distribution.
 (2) An *exempting entity that makes a *frankable distribution to a *member must include in the *distribution statement given to the member, a statement to the effect that members who are Australian residents