Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 360 - Early stage investors in innovation companies  

Subdivision 360-A - Tax incentives for early stage investors in innovation companies  

Operative provisions

SECTION 360-35   360-35   Amount of the tax offset - trustees  

If subsection 360-15(3) applies, the amount of the *tax offset is the difference between:

(a) what would, under section 360-25 , have been the amount of the tax offset to which the trustee would have been entitled if the trustee had been an individual; and

(b) if *members of the trust are entitled to tax offsets under subsection 360-15(2) arising from the same *shares to which the trustee ' s entitlement arises under subsection 360-15(3) - the sum of the amounts worked out under section 360-30 (disregarding any reductions under subsection 360-30(1A) ) for those tax offsets.