Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

PART 2-10 - PAY AS YOU GO (PAYG) INSTALMENTS  

Division 45 - Instalment payments  

Subdivision 45-I - Trust income included in instalment income of beneficiary  

SECTION 45-290   EXCEPTIONS TO EXCLUSION OF TRUST CAPITAL GAINS FROM BENEFICIARY ' S INSTALMENT INCOME  

45-290(1)  
This section sets out cases where paragraph (b) of the definition of your assessable income from the trust for the last income year in subsection 45-280(2) does not apply.

45-290(2)  
It does not apply in the case of:


(a) a *complying approved deposit fund or a *non-complying approved deposit fund for the income year that is or includes the current period; or


(b) a *complying superannuation fund or a *non-complying superannuation fund for that year; or


(c) a *pooled superannuation trust for that year.


(d) (Repealed by No 70 of 2015)

45-290(3)  


It does not apply in the case of a *life insurance company to the extent that the share of the trust ' s net income is included in the *complying superannuation class of its taxable income for the income year that is or includes the current period.

 

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