Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
PART 2-10
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PAY AS YOU GO (PAYG) INSTALMENTS
Division 45
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Instalment payments
Subdivision 45-I
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Trust income included in instalment income of beneficiary
SECTION 45-290
EXCEPTIONS TO EXCLUSION OF TRUST CAPITAL GAINS FROM BENEFICIARY
'
S INSTALMENT INCOME
45-290(1)
This section sets out cases where paragraph (b) of the definition of your assessable income from the trust for the last income year in subsection 45-280(2) does not apply.
45-290(2)
It does not apply in the case of:
(a) a *complying approved deposit fund or a *non-complying approved deposit fund for the income year that is or includes the current period; or
(b) a *complying superannuation fund or a *non-complying superannuation fund for that year; or
(c) a *pooled superannuation trust for that year.
(d) (Repealed by No 70 of 2015)
45-290(3)
It does not apply in the case of a *life insurance company to the extent that the share of the trust ' s net income is included in the *complying superannuation class of its taxable income for the income year that is or includes the current period.
View history note
Hide history noteNote: See section 3AA .
Chapter 2 - Collection, recovery and administration of income taxThis section sets out cases where paragraph (b) of the definition of your assessable income from the trust for the last income year in subsection 45-280(2) does not apply.
45-290(2)
It does not apply in the case of:
(a) a *complying approved deposit fund or a *non-complying approved deposit fund for the income year that is or includes the current period; or
(b) a *complying superannuation fund or a *non-complying superannuation fund for that year; or
(c) a *pooled superannuation trust for that year.
(d) (Repealed by No 70 of 2015)
45-290(3)
It does not apply in the case of a *life insurance company to the extent that the share of the trust ' s net income is included in the *complying superannuation class of its taxable income for the income year that is or includes the current period.
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