Retrospective franking measure announced in last years MYEFO – ATO reminds taxpayers that distributions funded by capital raisings, outside the normal dividend cycle, from 19.12.16 can’t be franked
The ATO has reminded taxpayers that the Government announced a franking measure in last years Mid-Year Economic and Fiscal Outlook, which was to have retrospective effect back to the date of the announcement: 12 noon, 19 December 2016. The substance of the announcement was that it would introduce a specific measure to prevent a company…