Income Tax Assessment Act 1936
View history note
Hide history noteIf:
(a) a trust ' s net income and tax loss for the income year are required by section 266-30 to be worked out under this Division; and
(b) the trust did not meet the requirements of subsections 266-45(2) and (4) ;
the income year is divided into periods as follows.
268-10(2)
The first period begins at the beginning of the income year. Each later period begins immediately after the end of the previous period.
268-10(3)
The last period ends at the end of the income year. Each period (except the last) ends at the latest time that would result in the trust passing the 50% stake test for the whole of the period.
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