CTM20550 - ACT: tax credit & FA93: franked investment income: small companies relief and mutual concerns

For 1993-94 franked investment income was treated as calculated with a tax credit rate of 1/4 rather than 9/31 (FA93/S78 (6)) in computing:

• profits for small companies relief (ICTA88/S13 (7)).
• the amount to be treated as a distribution of a mutual etc concern (ICTA88/S490).