INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteWithout limiting the generality of the information required to be set out in a statement furnished under subsection 221YDA(1) , where a taxpayer furnishes a statement under that subsection setting out the estimated taxable income of the taxpayer for a year of income (in this section referred to as the ``current year of income'' ), the statement shall also include:
(a) in a case where:
(i) the taxpayer is not a taxpayer in the capacity of a trustee;
(ii) either of the following sub-subparagraphs apply:
(A) the taxable income of the taxpayer of the last preceding year of income consisted of, or included, family partnership income in relation to a partnership that was a family partnership of the taxpayer in relation to the last preceding year of income or family trust income in relation to a trust estate that was a family trust of the taxpayer in relation to the last preceding year of income;
(B) there was a family partnership loss of the taxpayer in the last preceding year of income in relation to a partnership that was a family partnership of the taxpayer in relation to the last preceding year of income; and
an estimate, in respect of the partnership or trust estate, of the family partnership income or the family partnership loss, or the family trust income, as the case may be, of the taxpayer for the current year of income; and
(iii) the partnership or trust estate, as the case may be, is, or might reasonably be expected to be, a family partnership or family trust, as the case may be, of the taxpayer in relation to the current year of income,
(b) in any case - such other information, estimates and explanations in connection with the application of this Subdivision as is specified in the form in which the statement is required to be furnished.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
