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  • Advice under development – trust specific issues

    We are developing advice and guidance on the following trust-specific issue:

    [4036] Beneficiary's share of the net income of a trust estate – present entitlement

    Title

    Draft update to TD 2012/22 Income tax: for the purposes of paragraph 97(1)(a) of the Income Tax Assessment Act 1936 (ITAA 1936) is a beneficiary’s share of the net income of a trust estate worked out by reference to the proportion of the income of the trust estate to which the beneficiary is presently entitled?

    Purpose

    This draft update will amend TD 2012/22 to take account of the decision in Lewski v Commissioner of Taxation [2017] FCAFC 145.

    Expected completion

    Mid 2023

    Contact

    Tania Pfeiffer, Private Wealth

    Phone: (08) 7422 2129

    Tania.Pfeiffer@ato.gov.au

    For more information, see the Decision impact statement on Lewski v Commissioner of Taxation [2017] FCAFC 145.

    Last modified: 13 Feb 2023QC 57882