INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 2A - Calculation of taxable income  

Subdivision B - Calculation of taxable income where disqualifying event occurs  

SECTION 50KA  

50KA   SPECIAL PROVISION RELATING TO CAPACITY IN WHICH FAMILY TRUST BENEFICIALLY OWNS SHARES  
For the purposes of sections 50D and 50H , if:

(a) the trustee of a family trust (within the meaning of section 272-75 of Schedule 2F ) is taken by subsection 50K(1A) , or by that subsection and subsection 50J(6) , to be the beneficial owner of shares; and

(b) the trustee is a company;

the trustee is taken to be a natural person.