Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if there is an increase as mentioned in paragraph 276 - 810(2)(a).
(2) If the character mentioned in subsection 276 - 810(2) relates to assessable income, treat the amount of the increase as assessable income of the trust for the discovery year.
(3) Subsection (4) applies if the character mentioned in subsection 276 - 810(2) is the character of:
(a) a * discount capital gain from a * CGT asset that is * taxable Australian property; or
(b) a discount capital gain from a CGT asset that is not taxable Australian property.
(4) For the purposes of subsection (2), treat the amount of the increase as being double what it would be apart from this subsection.
(5) If that character relates to * exempt income, treat the amount of the increase as exempt income of the trust for the discovery year.
(6) If that character relates to * non - assessable non - exempt income, treat the amount of the increase as non - assessable non - exempt income of the trust for the discovery year.
(7) If that character relates to a * tax offset, treat the
amount of the increase as a tax offset of the trust for the discovery year of
a kind corresponding to that character (in addition to any other tax offsets
of that kind that the trust may have for the discovery year).