Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993 - SECT 92

92. Section 160AQZA of the Principal Act is amended:
(a) by inserting "class A" before "franking credit";
(b) by inserting "class A" before "potential rebate amount";

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

"(2) If, apart from subsection 160APQ(3), a class B franking credit of a
taxpayer would have arisen under section 160APQ in respect of:

   (a)  a trust amount or partnership amount that is included in; or

   (b)  a partnership amount that is allowed as a deduction from; the
        assessable income of the taxpayer of a year of income, the taxpayer is
        entitled to a rebate of tax in the taxpayer's assessment in respect of
        income of the year of income of an amount equal to the class B
        potential rebate amount in relation to the trust amount or partnership
        amount.".