INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VII - PENALTY TAX  

SECTION 226R   SHORTFALL BECAUSE OF STATEMENT BY TRUSTEE  

226R(1)   [Trustee's tax shortfall]  

If:

(a) a trustee of a trust estate makes an estate taxation statement; and

(b) a taxpayer who is or has been a beneficiary of the estate has an estate shortfall excess for a year in relation to the statement;

then:

(c) the excess is a tax shortfall of the trustee for that year; and

(d) if the statement was caused by behaviour described in section 226G , 226H or 226J, the shortfall is taken to have been caused by that behaviour.

226R(2)   [Taxpayer in capacity of trustee]  

Subsection (1) does not mean that a reference in this Part to a taxpayer does not include a reference to a taxpayer in the capacity of a trustee.