Income Tax Assessment Act 1936
SCHEDULE 2F
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TRUST LOSSES AND OTHER DEDUCTIONS
Division 272
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Interpretation
Subdivision 272-A
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Fixed entitlement to share of income or capital
SECTION 272-40
272-40
CONTINUED HOLDING OF FIXED ENTITLEMENT WHERE DEATH OCCURS
If, immediately before an individual dies, he or she has a fixed entitlement to a share of the income or capital of a trust, partnership or company directly or indirectly, and for his or her own benefit, the individual is taken to continue to have the entitlement for so long as:
(a) it is held by someone as trustee of the individual ' s estate; or
(b) it is held by someone who received it as a beneficiary of the estate.
View history note
Hide history noteIf, immediately before an individual dies, he or she has a fixed entitlement to a share of the income or capital of a trust, partnership or company directly or indirectly, and for his or her own benefit, the individual is taken to continue to have the entitlement for so long as:
(a) it is held by someone as trustee of the individual ' s estate; or
(b) it is held by someone who received it as a beneficiary of the estate.
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