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INCOME TAX LAWS AMENDMENT ACT 1980 No. 19 of 1980 - SECT 9

Special provisions relating to present entitlement
9. (1) Section 95A of the Principal Act is amended by adding at the end
thereof the following sub-section:



"(2) For the purposes of this Act, where a beneficiary has a vested and
indefeasible interest in any of the income of a trust estate but is not
presently entitled to that income, the beneficiary shall be deemed to be
presently entitled to that income of the trust estate.".

(2) The amendment made by sub-seciton (1) applies-

   (a)  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; and

   (b)  for the purpose of the ascertainment of withholding tax payable in
        respect of income to which section 128B of the Income Tax Assessment
        Act 1936 applies where that income was derived on or after 1 July
        1979. 


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