INCOME TAX ASSESSMENT ACT 1936

PART I - PRELIMINARY  

SECTION 6B   INCOME BENEFICIALLY DERIVED  

6B(1)   [Income deemed to be attributable to dividends]  

For the purposes of this Act, an amount of income derived by a person, not being a dividend paid by a company to the person as a shareholder in the company, shall be deemed to be attributable to a dividend:


(a) if the person derived the amount of income by reason of being the beneficial owner of the share in respect of which the dividend was paid; or


(b) if the person derived the amount of income as a beneficiary in a trust estate and the amount of income can be attributed, directly or indirectly, to the dividend or to an amount that is deemed, by any application or successive applications of this subsection, to be an amount of income attributable to the dividend.

6B(1A)   [Income attributable to passive income]  

For the purposes of this Act, an amount of income derived by a person, being income other than passive income, is to be taken to be income attributable to passive income:


(a) if the person derived the amount of income by reason of being beneficially entitled to an amount representing passive income; or


(b) if the person derived the amount of income as a beneficiary in a trust estate and the amount of income can be attributed, directly or indirectly, to passive income or to an amount that is taken, by any application or successive applications of this subsection, to be an amount of income attributable to passive income.

6B(2)   [Income attributable to interest income]  

For the purposes of this Act, an amount of income derived by a person, being income other than interest income, shall be deemed to be income attributable to interest income:


(a) if the person derived the amount of income by reason of being beneficially entitled to an amount representing interest income; or


(b) if the person derived the amount of income as a beneficiary in a trust estate and the amount of income can be attributed, directly or indirectly, to interest income or to an amount that is deemed, by any application or successive applications of this subsection, to be an amount of income attributable to interest income.

6B(2A)   [Income derived from particular source]  

For the purposes of this Act, an amount of income derived by a person shall be deemed to be income derived from a particular source:


(a) except where paragraph (b) applies:


(i) if the person derived the amount of income by reason of being beneficially entitled to an amount that is derived from that source; or

(ii) if the person derived the amount of income as a beneficiary in a trust estate and the amount of income can be attributed, directly or indirectly, to income derived from that source or to an amount that is deemed, by any other application or applications of this subsection, to be an amount that is income derived from that source; or


(b) if the income so derived is, by virtue of subsection (1), (1A) or (2), attributable to a dividend, passive income or interest income derived from that source.

6B(2AA)  
(Repealed by No 143 of 2007 )

6B(2B)  
(Repealed by No 143 of 2007 )

6B(3)   [Presently entitled beneficiary]  

Where a beneficiary in a trust estate is presently entitled to income of the trust estate, that income shall, for the purposes of this section, be deemed to be an amount of income derived by the person.

6B(4)   [Application]  

This section:


(a) applies to a non-share equity interest in the same way as it applies to a share; and


(b) applies to an equity holder in the same way as it applies to a shareholder; and


(c) applies to a non-share dividend in the same way as it applies to a dividend.


 

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