INCOME TAX ASSESSMENT ACT 1936

SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS  

Division 272 - Interpretation  

Subdivision 272-A - Fixed entitlement to share of income or capital  

SECTION 272-40   272-40   CONTINUED HOLDING OF FIXED ENTITLEMENT WHERE DEATH OCCURS  


If, immediately before an individual dies, he or she has a fixed entitlement to a share of the income or capital of a trust, partnership or company directly or indirectly, and for his or her own benefit, the individual is taken to continue to have the entitlement for so long as:


(a) it is held by someone as trustee of the individual ' s estate; or


(b) it is held by someone who received it as a beneficiary of the estate.


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