Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1936 - SECT 121H

Assessment of diverted income and diverted trust income

  (1)   A taxpayer, not being a taxpayer in the capacity of a trustee of a trust estate, shall be assessed and is liable to pay tax, at the rate declared by the Parliament for the purposes of this Division, upon the diverted income of the taxpayer of the year of income.

  (2)   A taxpayer in the capacity of a trustee of a trust estate shall be assessed and is liable to pay tax, at the rate declared by the Parliament for the purposes of this Division, upon the diverted trust income of the trust estate of the year of income.



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