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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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