Tax Laws Amendment (2011 Measures No. 5) Act 2011 (62 of 2011)
Schedule 2 Interim changes to the taxation of trust income
Part 1 Main amendments
Income Tax Assessment Act 1997
27 Subsection 995-1(1)
Insert:
specifically entitled :
(a) specifically entitled to a *capital gain has the meaning given by section 115-228; and
Note: A trustee of a trust estate that makes a choice under section 115-230 is taken to be specifically entitled to a capital gain.
(b) specifically entitled to a *franked distribution has the meaning given by section 207-58.