Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 102AAZA

                   In calculating the attributable income of a trust estate of a year of income:

                     (a)  for the purposes of section 136AC, if the trust estate is a non‑resident trust estate in relation to the year of income--the trustee is taken to be a non‑resident, within the meaning of that section, without regard to the assumption about the trustee's residence that is made in whichever of the following provisions is applicable:

                              (i)  the definition of net income in subsection 95(1);

                             (ii)  the definition of net income in subsection 102D(1);

                            (iii)  the definition of net income in section 102M;

                            (iv)  section 295‑10 of the Income Tax Assessment Act 1997 ; and

                     (b)  section 136AF applies as if:

                              (i)  the reference in subsection 136AF(1) to the application of section 136AD in relation to a taxpayer were a reference both to:

                                        (A)  the application of that section in relation to any trust estate in calculating its attributable income or in relation to any CFC in calculating its attributable income under Division 7 of Part X; and

                                        (B)  the actual application of that section in relation to any taxpayer in calculating the taxable income of the taxpayer apart from this Division; and

                             (ii)  the references in paragraphs 136AF(1)(a) and (b) to assessable income or allowable deductions in relation to the relevant taxpayer were references to assessable income, or to allowable deductions, taken into account in calculating the attributable income of the trust estate.