Commonwealth Consolidated Acts

TAX LAWS AMENDMENT (2012 MEASURES NO. 3) ACT 2012 - SCHEDULE 3

Income Tax Assessment Act 1936

1   At the end of section   159N

Add:

Rebate for a trustee assessed under section   98

  (6)   A trustee who is liable to be assessed under section   98 in respect of a share of the net income of a trust estate in respect of a beneficiary is not entitled under this section to a rebate of tax in their assessment for the year of income to the extent Division   6AA applies to that share.

2   Application

The amendment made by this Schedule applies to assessments for the 2011 - 12 year of income and later years of income.