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Edited version of private advice
Authorisation Number: 1051740526566
Date of advice: 18 August 2020
Ruling
Subject: Section 99A - Commissioner's discretion
Question
Will the Commissioner exercise his discretion under subdivision 99A(2) of the Income Tax Assessment Act 1936 (ITAA 1936) to apply progressive individual rates of tax as per section 99 of the ITAA 1936?
Answer
Yes. After consideration of the relevant factors, the Commissioner is of the opinion that it would be unreasonable that section 99A of the ITAA 1936 should apply in relation to that trust estate in relation to the relevant years of income. Accordingly section 99 of the ITAA 1936 will apply.
This ruling applies for the following periods:
Year ended 30 June 20XX
Year ended 30 June 20XX
Year ended 30 June 20XX
Year ended 30 June 20XX
Year ended 30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
The deceased died in 20XX.
The Estate is being conducted according to the deceased's will.
The assets of the deceased's estate are being realised as required.
The XY Trust (the Trust) was created by the will of the deceased, as were its terms and conditions.
No changes have been made to the Trust Deed.
No other funds from outside the deceased estate will be brought into the estate or the Trust.
The Trust has not borrowed or lent any money.
No special rights or privileges have been conferred or attached to the assets of the deceased estate.
Relevant legislative provisions
Income Tax Assessment Act 1936 section 99
Income Tax Assessment Act 1936 section 99A
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