Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 6 - Trust income  

SECTION 99   CERTAIN TRUST INCOME TO BE TAXED AS INCOME OF AN INDIVIDUAL  

99(1)   [Section 99 applies only if s 99A inapplicable]  

This section applies in relation to a trust estate in relation to a year of income only if section 99A does not apply in relation to that trust estate in relation to that year of income.

99(2)   [Resident trust estate: net income wholly within s 99]  

Where there is no part of the net income of a resident trust estate:

(a) that is included in the assessable income of a beneficiary of the trust estate in pursuance of section 97 ;

(b) in respect of which the trustee of the trust estate is assessed and liable to pay tax in pursuance of section 98 ; or

(c) that represents income to which a beneficiary is presently entitled that is attributable to a period when the beneficiary was not a resident and is also attributable to sources out of Australia;

the trustee shall be assessed and is liable to pay tax on the net income of the trust estate as if it were the income of an individual who was a resident and were not subject to any deduction.

99(3)   [Resident trust estate: net income partly within s 99]  

Where there is a part of the net income of a resident trust estate:

(a) that is not included in the assessable income of a beneficiary of the trust estate in pursuance of section 97 ;

(b) in respect of which the trustee is not assessed and is not liable to pay tax in pursuance of section 98 ; and

(c) that does not represent income to which a beneficiary is presently entitled that is attributable to a period when the beneficiary was not a resident and is also attributable to sources out of Australia;

the trustee shall be assessed and is liable to pay tax on that part of the net income of the trust estate as if it were the income of an individual who was a resident and were not subject to any deduction.

99(4)   [Non-resident trust estate: net income wholly within s 99]  

Where there is no part of the net income of a trust estate that is not a resident trust estate:

(a) that is included in the assessable income of a beneficiary of the trust estate in pursuance of section 97 ;

(b) in respect of which the trustee of the trust estate is assessed and liable to pay tax in pursuance of section 98 ; or

(c) that is attributable to sources out of Australia;

the trustee shall be assessed and is liable to pay tax on the net income of the trust estate as if it were the income of an individual and were not subject to any deduction.

99(5)   [Non-resident trust estate: net income partly within s 99]  

Where there is a part of the net income of a trust estate that is not a resident trust estate:

(a) that is attributable to sources in Australia;

(b) that is not included in the assessable income of a beneficiary of the trust estate in pursuance of section 97 ; and

(c) in respect of which the trustee of the trust estate is not assessed and is not liable to pay tax in pursuance of section 98 ;

the trustee shall be assessed and is liable to pay tax on that part of the net income of the trust estate as if it were the income of an individual and were not subject to any deduction.