INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 7 - Dividends paid to trusts and partnerships  

Subdivision C - Adjustments in relation to section 160AQT amounts  

SECTION 160ARA   160ARA   ADJUSTMENT FOR NON-RESIDENT BENEFICIARY  
Where:


(a) a trust amount is included in the assessable income of a taxpayer of a year of income;


(b) the taxpayer is:


(i) a natural person; or

(ii) a company;
other than a trustee; and


(c) the trust amount would, but for section 128D , include withholding income;

there shall be allowed as a deduction from the assessable income of the taxpayer of the year of income an amount equal to the lesser of:


(d) the trust amount; and


(e) the amount that would be the potential rebate amount in relation to the trust amount if section 128D did not apply.


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