Tax Laws Amendment (2011 Measures No. 5) Act 2011 (62 of 2011)
Schedule 2 Interim changes to the taxation of trust income
Part 2 Consequential amendments
Income Tax Assessment Act 1997
46 Section 102-30 (table item 2AA)
Repeal the item, substitute:
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2AA |
Beneficiary of trust that makes a capital gain taken into account in working out the net income of the trust |
The beneficiary is treated as having an extra capital gain corresponding to the beneficiary’s share of the capital gain (taking into account adjustments in respect of the CGT discount and small business concessions). |
Subdivision
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