TAXATION ADMINISTRATION REGULATIONS 1976 (REPEALED)

PART 5 - PAY AS YOU GO WITHHOLDING  

Division 3A - Withholding arrangements - closely held trusts  

REGULATION 38D  

38D   AMOUNT TO BE WITHHELD IF BENEFICIARY IS PRESENTLY ENTITLED TO INCOME OF CLOSELY HELD TRUST  
For subsection 15-10(2) of the Act, the amount to be withheld by a trustee of a closely held trust from a beneficiary ' s share of the net income of the trust under subsection 12-180(2) of the Act is the amount worked out using the formula:

beneficiary ' s share of the net income of the trust × top rate

Note 1:

The amount of an entitlement in a financial year is affected by the operation of subsection 12-180(4) of the Act.

Note 2:

For top rate , see regulation 2 .