TAXATION ADMINISTRATION REGULATIONS 1976 [REPEALED]
For subsection 15-10(2) of the Act, the amount to be withheld by a trustee of a closely held trust from a beneficiary ' s share of the net income of the trust under subsection 12-180(2) of the Act is the amount worked out using the formula:
beneficiary ' s share of the net income of the trust × top rate
The amount of an entitlement in a financial year is affected by the operation of subsection 12-180(4) of the Act.
For top rate , see regulation 2 .