TAXATION ADMINISTRATION ACT 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

PART 2-10 - PAY AS YOU GO (PAYG) INSTALMENTS  

Division 45 - Instalment payments  

Subdivision 45-I - Trust income included in instalment income of beneficiary  

SECTION 45-286   45-286   INSTALMENT INCOME INCLUDES DISTRIBUTIONS BY CERTAIN MANAGED INVESTMENT TRUSTS  


Your instalment income for a period includes trust income or trust capital that a trust distributes to you, or applies for your benefit, during that period if:


(a) the income or capital is not included in your instalment income under section 45-280 or 45-285 ; and


(b) the trust satisfies the condition in paragraph 275-10(3)(a) of the Income Tax Assessment Act 1997 in relation to the income year that is or includes that period; and


(c) the trust is a *managed investment trust for that income year; and


(d) the trust meets the requirement in section 275-110 of that Act throughout the income year.

(It does not matter whether the trust income or trust capital is included in your assessable income for the income year that is or includes that period.)




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.