Income Tax Assessment Act 1936
PART III
-
LIABILITY TO TAXATION
Division 6
-
Trust income
Subsection (2) applies if an amount is included in the assessable income of a beneficiary of a trust estate because of Subdivision 115-C or 207-B of the Income Tax Assessment Act 1997 . 95AAB(2)
For the purposes of a provision of this Act (other than a provision mentioned in subsection (3)), treat the amount as being included in the beneficiary ' s assessable income in relation to the net income of the trust estate under section 97 , 98A or 100 (as the case requires). 95AAB(3)
The provisions are as follows:
(a) sections 97 , 98A (other than subsection 98A(2) ) and 100 (other than subsections 100(2) and (3) );
(b) sections 98 , 99 and 99A ;
(c) Subdivisions 115-C and 207-B of the Income Tax Assessment Act 1997 . 95AAB(4)
To avoid doubt, subsection (2) applies despite subsection 6(1AA) .
SECTION 95AAB
ADJUSTMENTS UNDER SUBDIVISION 115-C OR 207-B OF THE
INCOME TAX ASSESSMENT ACT 1997
-
REFERENCES IN THIS ACT TO ASSESSABLE INCOME UNDER SECTION 97, 98A OR 100
95AAB(1)
Subsection (2) applies if an amount is included in the assessable income of a beneficiary of a trust estate because of Subdivision 115-C or 207-B of the Income Tax Assessment Act 1997 . 95AAB(2)
For the purposes of a provision of this Act (other than a provision mentioned in subsection (3)), treat the amount as being included in the beneficiary ' s assessable income in relation to the net income of the trust estate under section 97 , 98A or 100 (as the case requires). 95AAB(3)
The provisions are as follows:
(a) sections 97 , 98A (other than subsection 98A(2) ) and 100 (other than subsections 100(2) and (3) );
(b) sections 98 , 99 and 99A ;
(c) Subdivisions 115-C and 207-B of the Income Tax Assessment Act 1997 . 95AAB(4)
To avoid doubt, subsection (2) applies despite subsection 6(1AA) .
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.