INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-20 - TAX OFFSETS  

Division 61 - Generally applicable tax offsets  

Subdivision 61-P - ESVCLP tax offset  

Operative provisions

SECTION 61-775   61-775   Amount of the ESVCLP tax offset - trustees  


If subsection 61-760(3) applies, the amount of the *tax offset for the income year is the difference between:


(a) what would, under section 61-765 , have been the amount of the tax offset to which the trust would have been entitled if it had been an individual; and


(b) if *members of the trust are entitled to tax offsets under subsection 61-760(2) arising from the same contributions from which the trustee ' s entitlement arises under subsection 61-760(3) - the sum of the amounts, under section 61-770 , of those tax offsets.


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