Document ID: chunk:federal_register_of_legislation:C2021A00127:clause:3_4a
Version: federal_register_of_legislation:C2021A00127
Segment Type: clause
Provision Reference: sch 3 cl 4A
Character Range: 39586–40552

4A  a *franking debit arises under item 2 or 2A of the table in subsection 205‑30(1) because the entity receives a *tax offset refund; and                                                                          the difference (if any) between:                                                                                     on the day on which the amount of the excess is paid
    the entity's tax offset refund is subsequently reduced and the entity is liable to pay to the Commonwealth the amount of the excess mentioned in subsection 172A(2) of the Income Tax Assessment Act 1936; and  (a) the amount of the franking debit; and
    the entity pays the amount of the excess                                                                                                                                                                        (b) the amount the franking debit would have been if the tax offset refund were reduced by the amount of the excess