Document ID: chunk:federal_register_of_legislation:C2010C00691:body:0:p14
Version: federal_register_of_legislation:C2010C00691
Segment Type: other
Provision Reference: 
Character Range: 32796–35744

"franking account balance", "franking
deficit" and "franking surplus";
  (d) by omitting the definitions of "estimated debit", "estimated debit
determination", "franking account assessment", "franking deficit tax" and
"franking percentage" and substituting the following definitions:
  " 'estimated debit' means an estimated class A debit or an estimated class B
debit;
  'estimated debit determination' means an estimated class A debit
determination or an estimated class B debit determination;
  'franking account assessment' means a class A franking account assessment or
a class B franking account assessment;
  'franking deficit tax' means class A franking deficit tax or class B
franking deficit tax;
  'franking percentage' means:
  (a) in relation to a franked dividend-the sum of:
    (i) the class A franking percentage of the dividend; and
    (ii) the class B franking percentage of the dividend; or
  (b) in relation to an unfranked dividend-0%;";
  (e) by inserting the following definitions:
  " 'class A flow-on franking amount' means an amount that would be a flow-on
franking amount if:
  (a) a reference in the definition of 'flow-on franking amount' to a franked
dividend were, by express provision, confined to a class A franked dividend;
and
  (b) a reference in that definition to the flow-on franking amount were, by
express provision, confined to a class A flow-on franking amount;
  'class A franked amount', in relation to a dividend, means so much of the
dividend as has been franked in accordance with subsection 160AQF(1);
  'class A franked dividend' means a dividend the whole or a part of which has
been franked in accordance with subsection 160AQF(1);
  'class A franking account assessment' means the ascertainment of the class A
franking account balance and of any class A franking deficit tax payable;
  'class A franking account balance', in relation to a company, means:
  (a) if the company has a class A franking surplus-the amount of that
surplus; or
  (b) if the company has a class A franking deficit-the amount of that
deficit; or
  (c) in any other case-nil;
  'class A franking deficit' means a deficit calculated under subsection
160APJ(2);
  'class A franking deficit tax' means tax payable in accordance with
subsection 160AQJ(1);
  'class A franking percentage' means:
  (a) in relation to a class A franked dividend-the percentage specified in
the declaration made under subsection 160AQF(1) in relation to the dividend;
or
  (b) in relation to a dividend (including a dividend that is not a frankable
dividend) no part of which has been franked in accordance with subsection
160AQF(1)-0%;
  'class A franking surplus' means a surplus calculated under subsection
160APJ(1);
  'class A potential rebate amount' means an amount that would be a potential
rebate amount if:
  (a) each reference in the definition of 'potential rebate amount' to a
franked dividend were, by express provision, confined