Tax Laws Amendment (2011 Measures No. 5) Act 2011 (62 of 2011)
Schedule 2 Interim changes to the taxation of trust income
Part 2 Consequential amendments
Income Tax Assessment Act 1936
40 Paragraph 159H(b)
Repeal the paragraph, substitute:
(b) both of the following requirements are satisfied:
(i) the taxpayer is a trustee who is liable to be assessed under section 98 in respect of a share of the net income of a trust estate in respect of a beneficiary;
(ii) the beneficiary is a resident and is not a company.
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