Can anyone explain to me what tax companies have to pay on their franked investment income? I was looking at the Sep 2000 Q15 exam solution, and it says that companies are liable to tax at 20% on their FII, regardless of their rate of corporation tax. But I guess things may have changed in the last 9 years, and a quick surf on the web suggests that no tax is payable. Can anyone tell explain what the current situation is? Thanks!
