Clean Energy (Tax Laws Amendments) Act 2011 (159 of 2011)

Schedule 3   Tax rebate for low income aged persons and pensioners

Income Tax Assessment Act 1936

16   Subsection 160AAA(4A)

Repeal the subsection, substitute:

(4A) If, apart from this subsection:

(a) the taxpayer would be entitled in his or her assessment in respect of income of a year of income to a rebate of tax under this section; and

(b) the taxpayer is the beneficiary of a trust; and

(c) the trustee of the trust is entitled to a rebate of tax for the year of income under section 160AAAB in respect of the taxpayer;

then:

(d) if the amounts of the rebates are the same, or the amount of the rebate under this section is the lesser amount - the taxpayer is not entitled to the rebate under this section; or

(e) if the amount of the rebate under this section is the greater amount - the trustee is not entitled to the rebate under section 160AAAB.