Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 6D - Provisions relating to certain closely held trusts  

Subdivision B - Interpretation  

SECTION 102UI   102UI   TAX-PREFERRED AMOUNT  

The expression tax-preferred amount of a trust means:

(a) income of the trust that is not included in its assessable income in working out its net income; or

(b) capital of the trust.