INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 115 - Discount capital gains and trusts ' net capital gains  

Subdivision 115-C - Rules about trusts with net capital gains  

Operative provisions

SECTION 115-227   115-227   Share of a capital gain  


An entity that is a beneficiary or the trustee of a trust estate has a share of a *capital gain that is the sum of:


(a) the amount of the capital gain to which the entity is *specifically entitled; and


(b) if there is an amount of the capital gain to which no beneficiary of the trust estate is specifically entitled, and to which the trustee is not specifically entitled - that amount multiplied by the entity ' s *adjusted Division 6 percentage of the income of the trust estate for the relevant income year.


 

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