Commonwealth Numbered Acts

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Income Tax Assessment Amendment Act 1983 No. 14 of 1983 - SECT 19

19. After section 98 of the Principal Act the following section is inserted:
Non-resident beneficiaries assessable in respect of certain income

''98A. (1) Where the trustee of a trust estate is assessed and is liable to
pay tax in respect of the whole or a part of a share of the net income of a
trust estate of a year of income in pursuance of sub-section 98 (3) or (4),
the assessable income of the beneficiary who is presently entitled to that
share of the income of the trust estate shall include-

   (a)  so much of the individual interest of the beneficiary in the net
        income of the trust estate as is attributable to a period when the
        beneficiary was a resident; and

   (b)  so much of the individual interest of the beneficiary in the net
        income of the trust estate as is attributable to a period when the
        beneficiary was not a resident and is also attributable to sources in
        Australia.

''(2) Where sub-section (1) applies in relation to a beneficiary in relation
to a year of income-

   (a)  there shall be deducted from the income tax assessed against the
        beneficiary the amount (in this sub-section referred to as the
        'relevant amount') of the tax paid by the trustee in respect of the
        beneficiary's interest in the net income of the trust estate; and

   (b)  if the relevant amount is greater than the amount of the income tax
        assessed against the beneficiary-the Commissioner shall pay to the
        beneficiary an amount equal to the difference between those 2
        amounts.''. 


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