• How is the amount a private company is taken to be presently entitled to determined?

    The amount is determined by the Commissioner. It may be different to the amount which the interposed trust or private company became presently entitled to.

    The amount determined by the Commissioner is limited by the amount of the present entitlement that an interposed trust is, or becomes, presently entitled to from the net income from the target trust.

    In determining the amount, the Commissioner must have regard to the amount the private company is or becomes entitled to from the net income of the first interposed trust.

      Last modified: 15 Jul 2010QC 23183