Income Tax Assessment Act 1997



Division 152 - Small business relief  

Subdivision 152-A - Basic conditions for relief under this Division  

Nomination of controllers of discretionary trust

SECTION 152-78   Trustee of discretionary trust may nominate beneficiaries to be controllers of trust  

This section applies for the purposes of determining whether an entity is *connected with you, for the purposes of:

(a) this Subdivision; and

(b) sections 328-110 , 328-115 and 328-125 so far as they relate to this Subdivision.

The trustee of a discretionary trust may nominate not more than 4 beneficiaries as being controllers of the trust for an income year (the relevant income year ) for which the trustee did not make a distribution of income or capital if the trust had a *tax loss, or no *net income, for that year.

A nomination under subsection (2) has effect as if each nominated beneficiary controlled the trust for the relevant income year in a way described in section 328-125 .


This means each nominated beneficiary is connected with the trust.

A nomination under subsection (2) must:

(a) be in writing; and

(b) be signed by the trustee and by each nominated beneficiary.


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