Legislation

ITAA 1997 s of it) is either exempt income or non-assessable non-exempt income in the hands of the relevant Holder, then the amount of any franking credit on the Distribution that is exempt income or non-assessable non-exempt income, is not included in the assessable income of the Holder and the Holder is not entitled to a tax offset under Division 207

ATO documents that consider ITAA 1997 s of it) is either exempt income or non-assessable non-exempt income in the hands of the relevant Holder, then the amount of any franking credit on the Distribution that is exempt income or non-assessable non-exempt income, is not included in the assessable income of the Holder and the Holder is not entitled to a tax offset under Division 207