§ Glossary
Qualified person
The status a taxpayer needs in relation to a franked dividend for the franking credit and tax offset to be available. Where the qualified-person tests are not met, most commonly through the 45-day holding period rule, the gross-up and offset are denied for that distribution.
Sources
- Income Tax Assessment Act 1997 (Cth) s 207-145
- Income Tax Assessment Act 1936 (Cth) former Div 1A provisions (holding-period tests)
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