Pt IIIAA inserted by No 58 of 1987.
Div 1A inserted by No 93 of 1999.
Subdiv B inserted by No 93 of 1999.
a related payment in respect of the dividend or a distribution attributable to the dividend.
S 160APHT substituted by No 89 of 2000, s 3 and Sch 3 item 98, applicable to assessments for the 1999/2000 and later years of income. S 160APHT formerly read:
INDIVIDUALS QUALIFIED BY ELECTING TO HAVE A FRANKING REBATE CEILING APPLIED
160APHT(1) A taxpayer who is an individual may elect to have a franking rebate ceiling applied in respect of him or her in relation to a specified year of income in accordance with Subdivision BB of Division 7.
160APHT(2) Subject to subsection (3), if a taxpayer makes such an election, the taxpayer is a
in relation to every dividend paid during the year of income specified in the election on shares that the taxpayer held or in which the taxpayer held an interest.
160APHT(3) A taxpayer is
not a qualified person
under subsection (2) in relation to a dividend if the taxpayer or an associate of the taxpayer has made, is under an obligation to make, or is likely to make, a related payment in respect of the dividend or a distribution attributable to the dividend.
S 160APHT inserted by No 93 of 1999.