Part IX repealed by No 15 of 2007, s 3 and Sch 1 item 8, applicable to the 2007-2008 income year and later years.

Former Part IX inserted by No 97 of 1989 and amended by No 105 of 1989.

Div 7 repealed by No 15 of 2007, s 3 and Sch 1 item 8, applicable to the 2007-08 income year and later years.

S 296 repealed by No 15 of 2007, s 3 and Sch 1 item 8, applicable to the 2007-08 income year and later years. S 296 formerly read:

SECTION 296 LIABILITY TO TAXATION  
296(1) [Trustee to pay tax]  

The trustee of a PST is liable to pay tax on the taxable income of the trust of the year of income.

296(2) [Income subject to tax]  

Except as provided by Division 11A of Part III , the income of a PST of the year of income is not subject to tax except as provided by this Part.

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History

Archived:

S 296(3) repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 item 169, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive .

S 296 inserted by No 97 of 1989 and amended by No 105 of 1989.