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INCOME TAX LAWS AMENDMENT ACT 1980 No. 19 of 1980 - SECT 14

Beneficiary assessable in respect of certain trust income
14. (1) Section 100 of the Principal Act is amended by omitting sub-section
(1) and substituting the following sub-section:



"(1) The assessable income of any beneficiary who-

   (a)  is under a legal disability or is deemed to be presently entitled to
        any of the income of a trust estate by virtue of the operation of
        sub-section (2) of section 95A; and

   (b)  is a beneficiary in more than one trust estate or derives income from
        any other source, shall include-

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

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

(2) The amendment made by sub-section (1) applies to assessments in respect of
income of the year of income that commenced on 1 July 1979 and in respect of
income of all subsequent years of income. 


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