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INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 1A - Circumstances in which a taxpayer can qualify for a franking credit, a franking rebate or the intercorporate dividend rebate  

Subdivision B - Qualification for franking benefits and intercorporate dividend rebate  

SECTION 160APHT  INDIVIDUAL TAXPAYERS QUALIFIED AS SMALL SHAREHOLDERS  

160APHT(1)  [Must be an individual]  


A taxpayer is a qualified person in relation to all dividends paid during a year of income on shares that the taxpayer held or held an interest in if:


(a) the taxpayer is an individual; and


(b) the total of the amounts of the rebates to which the taxpayer would be entitled under sections 160AQU , 160AQX and 160AQZ in respect of the year of income if the taxpayer were a qualified person in relation to each of those dividends does not exceed $5000.

160APHT(2)  [Related payments]  


A taxpayer is not a qualified person under subsection (1) in relation to a dividend if the taxpayer or an associate of the taxpayer:


(a) has made; or


(b) is under an obligation to make; or


(c) is likely to make;

a related payment in respect of the dividend or a distribution attributable to the dividend.


 



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