INCOME TAX ASSESSMENT ACT 1936
The following is a simplified outline of the relationship between this Division, Division 6E and Subdivisions 115-C and 207-B of the Income Tax Assessment Act 1997 .
This Division sets out the basic income tax treatment of the net income of the trust estate. Generally:
If the trust estate has capital gains, franked distributions or franking credits, this basic treatment is modified as described below.
Division 6E modifies the operation of this Division for the purpose of excluding amounts relevant to capital gains, franked distributions and franking credits from the calculations of assessable amounts under sections 97 , 98 , 99 , 99A and 100 .
Division 6E does not modify the operation of this Division (or any other provision of this Act) for any other purpose. For example:
Subdivisions 115-C and 207-B of the Income Tax Assessment Act 1997 provide the corresponding taxation treatment for those capital gains, franked distributions and franking credits. Specifically:
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