Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:3_160apme
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 3 cl 160APME
Character Range: 224609–225109

160APME  Franking credits for paying PAYG instalments

 (1) If, on a particular day, a company pays a PAYG instalment in respect of a year of income, there arises on that day a class C franking credit of the company.

 (2) The class C franking credit is equal to the adjusted amount in relation to the amount of the instalment paid.

 (3) This section does not apply if the company is a life assurance company.

Note: For the treatment of life assurance companies, see sections 160APVJ to 160APVL.