INCOME TAX ASSESSMENT ACT 1936

PART III - LIABILITY TO TAXATION  

Division 6D - Provisions relating to certain closely held trusts  

Subdivision B - Interpretation  

SECTION 102UE   MEANING OF UNTAXED PART  

102UE(1)   [ Untaxed part]  

The untaxed part of a share of the net income of a closely held trust is so much of that share as is not covered by subsection (2).

102UE(2)   [ Parts not untaxed]  

The share of the net income of the closely held trust is covered by this subsection to the extent that:


(a) the trustee of the closely held trust is assessed and liable to pay tax under subsection 98(4) in respect of the share; or


(b) the share is reasonably attributable to a part of the net income of another trust estate in respect of which the trustee of the other trust estate is assessed and liable to pay tax under subsection 98(4) ; or


(c) the share is represented by or reasonably attributable to an amount from which an entity was required to withhold an amount under Subdivision 12-H in Schedule 1 to the Taxation Administration Act 1953 ; or


(d) the share is reasonably attributable to a part of the net income of another trust estate in respect of which the trustee of the other trust estate was liable to pay trustee beneficiary non-disclosure tax.


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