Western Australian Current Acts

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DUTIES ACT 2008 - SECT 60

60 .         References to interest in discretionary trust of taker in default

        (1)         A reference to an interest in a discretionary trust of a taker in default in the discretionary trust is —

            (a)         the percentage of —

                  (i)         the trust income; or

                  (ii)         the trust property,

                that the taker in default would receive in default of appointment by the trustee; or

            (b)         if the taker in default would receive both trust income and trust property in default of appointment by the trustee, the percentage of either the trust income or the trust property that the taker in default would receive that is the greater.

        (2)         Despite subsection (1), if the Commissioner considers it appropriate to do so, an interest in a discretionary trust of a taker in default is to be determined by the Commissioner taking into account the rights or entitlements of the taker in default under the trust.



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