Income Tax Assessment Act 1936
SCHEDULE 2F
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TRUST LOSSES AND OTHER DEDUCTIONS
Division 267
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Income tax consequences for non-fixed trusts of change in ownership or control
If either or both of the following happened, the trust must meet the condition in subsection (2):
(a) the trust distributed income:
(b) the trust distributed capital:
The condition is that the trust must pass the pattern of distributions test for the income year.
Subdivision 267-B
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Deducting tax losses, and certain amounts in respect of debts, from earlier years
SECTION 267-30
IF CERTAIN DISTRIBUTIONS ARE MADE, THE TRUST MUST PASS THE PATTERN OF DISTRIBUTIONS TEST
When trust must meet the condition
267-30(1)
If either or both of the following happened, the trust must meet the condition in subsection (2):
(a) the trust distributed income:
(i) in the income year or within 2 months after its end; and
(ii) in at least one of the 6 earlier income years; or
(b) the trust distributed capital:
(i) in the income year or within 2 months after its end; and
The condition 267-30(2)
(ii) in at least one of the 6 earlier income years.
The condition is that the trust must pass the pattern of distributions test for the income year.
To find out whether the trust passes the pattern of distributions test for the income year: see Subdivision 269-D .
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