Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 102UW

    This Division   applies if:

  (a)   the net income of a trust estate exceeds nil; and

  (b)   any of the following things are taken into account in working out the net income of the trust estate:

  (i)   a capital gain (to the extent that an amount of the capital gain remained after applying steps 1 to 4 of the method statement in subsection   102 - 5(1) of the Income Tax Assessment Act 1997 );

  (ii)   a franked distribution (to the extent that an amount of the franked distribution remained after reducing it by deductions that were directly relevant to it);

  (iii)   a franking credit.