Income Tax Assessment Act 1936

SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS  

Division 269 - Concepts and tests applied in Divisions 266 and 267  

Subdivision 269-C - Passing the 50 % stake test etc.  

SECTION 269-50   MORE THAN A 50 % STAKE IN INCOME OR CAPITAL  

More than a 50 % stake in income

269-50(1)    
If there are individuals who have (between them), directly or indirectly, and for their own benefit, fixed entitlements to a greater than 50 % share of the income of a trust, those individuals have more than a 50 % stake in the income of the trust.

More than a 50 % stake in capital

269-50(2)    
If there are individuals who have (between them), directly or indirectly, and for their own benefit, fixed entitlements to a greater than 50 % share of the capital of the trust, those individuals have more than a 50 % stake in the capital of the trust.