Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 6D - Provisions relating to certain closely held trusts  

Subdivision D - Payment etc. of trustee beneficiary non-disclosure tax  

SECTION 102UN   AMOUNT OF TRUSTEE BENEFICIARY NON-DISCLOSURE TAX REDUCED BY NOTIONAL TAX OFFSET  

102UN(1)   [ Application]  

This section applies to trustee beneficiary non-disclosure tax that a trustee group would otherwise be liable to pay on the whole or part of a share of the net income of a closely held trust.

102UN(2)   [ Reduction of amount]  

The amount of the trustee beneficiary non-disclosure tax is reduced by the amount of any tax offset to which the trustee of the closely held trust would be entitled in an assessment under section 99A if it were assumed that the trustee were assessed and liable to pay tax under that section on the whole or the part of the share of the net income.