Document ID: chunk:federal_register_of_legislation:C2014C00672:clause:6_3
Version: federal_register_of_legislation:C2014C00672
Segment Type: clause
Provision Reference: sch 6 cl 3
Character Range: 80013–80985

3  the company *receives a *tax offset refund; and                                                               the lesser of:                                                                                     on the day on which the refund is received

   the company does not satisfy the *residency requirement for the income year to which the refund relates; and  (a) that part of the refund that is attributable to:

   the company was a *franking entity for the whole or part of that income year; and                             (i) the *shareholders' share of the income tax liability of the company for that income year; and

   the company's *franking account is in *surplus on the day on which the refund is received                     (ii) the period during which the company was a franking entity; and

                                                                                                                 (b) the amount of the *franking surplus