Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 6E - Adjustment of Division 6 assessable amount in relation to capital gains, franked distributions and franking credits  

SECTION 102UW  

102UW   APPLICATION OF DIVISION  

This Division applies if:

(a)    the net income of a trust estate exceeds nil; and

(b)    

any of the following things are taken into account in working out the net income of the trust estate:

(i) a capital gain (to the extent that an amount of the capital gain remained after applying steps 1 to 6 of the method statement in subsection 102-5(1) of the Income Tax Assessment Act 1997 );

(ii) a franked distribution (to the extent that an amount of the franked distribution remained after reducing it by deductions that were directly relevant to it);

(iii) a franking credit.