Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-45
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RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS
Division 393
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Farm management deposits
If:
(a) a *farm management deposit was made by a trustee on behalf of a beneficiary of a trust; and
(b) the beneficiary was under a legal disability when the deposit was made; and
(c) the beneficiary is no longer under a legal disability;
Subdivision 393-B
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Meaning of farm management deposit and owner
SECTION 393-28
393-28
Application of Division to beneficiary no longer under legal disability
If:
(a) a *farm management deposit was made by a trustee on behalf of a beneficiary of a trust; and
(b) the beneficiary was under a legal disability when the deposit was made; and
(c) the beneficiary is no longer under a legal disability;
then this Division, and Division 4A of Part VA of the Income Tax Assessment Act 1936 , apply as if the beneficiary had made the deposit.
Note:
Division 4A of Part VA of the Income Tax Assessment Act 1936 is about quotation of tax file numbers in connection with farm management deposits.
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