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ATO rules on when dividend distributions can be franked

Publication date: 11 Apr 12 | Source: KEEPING GOOD COMPANIES

Issue: Vol 64 No 3 Apr 2012

Pages: pp 176-180


The Corporations Amendment (Corporate Reporting Reform) Act 2010 (Reform Act), replaced the restriction that dividends must only be declared out of profits with a balance sheet test. It amended s254T of the Corporations Act 2001 to remove the requirement that a dividend must be declared only out of profits with effect from 28 June 2010.

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Author profile

Karen Payne CTA
Karen, CTA, was appointed as the inaugural Chief Executive Officer of the Board of Taxation, effective 31 March 2016. She is also a Member of the Board of Taxation, appointed in May 2015. She chaired the Board’s working group that advised on the implementation of the OECD hybrid mismatch rules – both generally and specifically in relation to regulatory capital. Karen was a member of the Board of Taxation advisory panel and assisted with the reviews of tax arrangements for managed investment trusts, venture capital limited partnerships, collective investment vehicles , the investment manager regime and the arm’s-length debt test. Karen was previously a Partner at Minter Ellison focusing on international and corporate taxes for the financial services industry, and mining, energy and utilities sectors. Karen has assisted domestic and international corporates and funds (equity, infrastructure, property, private equity and venture capital) with advice on structure, M&A and taxation due diligence. - Current at 09 December 2017
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