Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 6E - Adjustment of Division 6 assessable amount in relation to capital gains, franked distributions and franking credits  

SECTION 102UX   ADJUSTMENT OF DIVISION 6 ASSESSABLE AMOUNT IN RELATION TO CAPITAL GAINS, FRANKED DISTRIBUTIONS AND FRANKING CREDITS  

102UX(1)    
Make the assumptions in the following subsections for the purposes of working out in accordance with Division 6 an amount:

(a) included in the assessable income of a beneficiary of a trust estate under section 97 , 98A or 100 ; or

(b) in respect of which a trustee of a trust estate is liable to pay tax under section 98 , in relation to a beneficiary of the trust estate; or

(c) in respect of which a trustee of a trust estate is liable to pay tax under section 99 or 99A .

Note:

Those assumptions are made only for the purposes of working out the amounts mentioned in paragraphs (a), (b) and (c). They are not made for any other purposes (for example, determining the income of a trust estate, the net income of a trust estate, or the amount of a present entitlement of a beneficiary of a trust estate to the income of the trust estate).

102UX(2)    
Assume that the income of the trust estate were equal to the Division 6E income of the trust estate.

102UX(3)    
Assume that the net income of the trust estate were equal to the Division 6E net income of the trust estate.

102UX(4)    
Assume that the amount of a present entitlement of a beneficiary of the trust estate to the income of the trust estate were equal to the amount of the beneficiary ' s Division 6E present entitlement to the income of the trust estate.