Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993 - SECT 41

41. Section 160APJ of the Principal Act is amended:
(a) by inserting in subsection (1) "class A" before "franking" (first, 3rd and
5th occurring);

   (b)  by inserting after subsection (1) the following subsection:

"(1A) The class B franking surplus of a company at a particular time in a
franking year is the amount by which the total of the class B franking credits
of the company arising in the franking year and before that time exceeds the
total of the class B franking debits of the company arising in the franking
year and before that time.";
(c) by inserting in subsection (2) "class A" before "franking" (first, 3rd and
5th occurring);

   (d)  by adding at the end the following subsection:

"(3) The class B franking deficit of a company at a particular time in a
franking year is the amount by which the total of the class B franking debits
of the company arising in the franking year and before that time exceeds the
total of the class B franking credits of the company arising in the franking
year and before that time.".