15‑80 Franked distributions entitled to 15‑80 Franked distributions entitled to a foreign income tax deduction—Additional Tier 1 capital exception

#### 15‑80 Franked distributions entitled to a foreign income tax deduction—Additional Tier 1 capital exception (1) If section 207‑158 would, apart from subsection 207‑158(2), apply to a \*franked distribution, then an amount equal to the \*foreign income tax deduction referred to in subsection (1) of that section is included in the assessable income of the entity that made the distribution for the income year mentioned in subsection (2) of this section. (2) The income year is: (a) if the \*foreign tax period in which the \*foreign income tax deduction arises falls wholly within an income year of the entity—that income year; or (b) if the foreign tax period in which the foreign income tax deduction arises straddles 2 income years of the entity—the later of those income years.