Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1936 - SECT 102UV

Trustee of closely held trust may record etc. tax file number

             (1)  This section applies if a trustee beneficiary in respect of:

                     (a)  a share of the net income of a closely held trust for a year of income that is included in the assessable income of the trustee beneficiary of the trust under section 97; or

                     (b)  a share of a tax-preferred amount of a closely held trust to which the trustee beneficiary of the trust is presently entitled at the end of a year of income;

quotes his or her tax file number to the trustee of the closely held trust in connection with that trustee making a correct TB statement about that share.

             (2)  Section 8WB of the Taxation Administration Act 1953 does not prohibit the trustee of the closely held trust from:

                     (a)  recording the tax file number or maintaining such a record; or

                     (b)  using the tax file number in a manner connecting it with the identity of the trustee beneficiary; or

                     (c)  divulging or communicating the tax file number to a third person;

in connection with that trustee making a correct TB statement about that share.



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