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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