New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 (117 of 2002)

Schedule 5   Consolidation: allocable cost amount for a joining trust

Part 2   Consequential amendment

Income Tax (Transitional Provisions) Act 1997

13   At the end of section 700-1

Add:

(2) Section 713-50 of theIncome Tax Assessment Act 1997 (about factors to consider in determining destination of distribution by non-fixed trust) applies for the purposes of this Part in the same way as it applies for the purposes of Part 3-90 of that Act.