44Refund of franking credits

44 Refund of franking credits

A refund of a tax offset under the Income Tax Assessment Act 1997 is to be credited to the Aboriginal and Torres Strait Islander Land and Sea Future Fund Special Account if: (a) the Future Fund Board receives the refund; and (b) the tax offset is attributable to an investment of the Aboriginal and Torres Strait Islander Land and Sea Future Fund.

Note 1: See also section 84B of the Future Fund Act 2006.

Note 2: For refunds of tax offsets, see Division 63 of the Income Tax Assessment Act 1997.