Pt 3-6 inserted by No 48 of 2002.
Div 207 inserted by No 48 of 2002.
Subdiv 207-F inserted by No 48 of 2002.
S 207-140 substituted by No 83 of 2004, s 3 and Sch 10 item 13, applicable to events that occur on or after 1 July 2002, subject to the rules on the application of Part 3-6 of the
Income Tax Assessment Act 1997
set out in the
Income Tax (Transitional Provisions) Act 1997
. S 207-140 formerly read:
What this Subdivision is about
Where an entity has manipulated the imputation system in a manner that is not permitted under the income tax law:
no additional amount is included in the entity
s assessable income as a result of the relevant franked distribution; and
any tax offset to which the entity would otherwise be entitled as a result of the distribution is denied.
S 207-140 inserted by No 48 of 2002.