Income tax: in what circumstances must dividends paid in respect of different classes of shares be franked at the same rate to avoid being considered as underfranked?

Taxation Determination TD 93/166 states as to what circumstances must dividends in respect of different classes of shares be franked at the same rate to avoid being considered as underfranked under section 160AQE of the Income Tax Assessment Act 1936 .

The 'imputation system' applicable to companies was replaced with a new imputation system under Part 3-6 of the Income Tax Assessment Act 1997 . The new imputation system rules applies to companies, corporate unit trusts, public trading trusts and limited partnerships from 1 July 2002. The new imputation system removed all references to the 'reckoning days' which was applicable under the repealed provisions.

Taxation Determination TD 93/166 is no longer current and therefore withdrawn.