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Future Drought Fund Act 2019
53Refund of franking credits
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53 Refund of franking credits
A refund of a tax offset under the Income Tax Assessment Act 1997 is to be credited to the Future Drought Fund Special Account if: (a) the Future Fund Board receives the refund; and (b) the tax offset is attributable to an investment of the Future Drought 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.