Tax Laws Amendment (2010 Measures No. 2) Act 2010 (75 of 2010)

Schedule 2   Extending the TFN withholding arrangements to closely held trusts, including family trusts

Part 2   Amendments contingent on the Tax Laws Amendment (2010 Measures No. 1) Act 2010

Income Tax Assessment Act 1997

26   Subsection 995-1(1) (at the end of the definition of quote)

Add:

; (c) quote a tax file number to a trustee: the beneficiary of a trust quotes the beneficiary's tax file number to the trustee of the trust if:

(i) Division 4B of Part VA of the Income Tax Assessment Act 1936 applies to the trustee and to the beneficiary; and

(ii) the beneficiary is taken, for the purposes of that Part, to have quoted the beneficiary's tax file number to the trustee.


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).