Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 102AAZB

                   For the purposes of applying this Act in calculating the attributable income of a trust estate, Parts 3‑1 and 3‑3 of the Income Tax Assessment Act 1997 (about CGT) apply as if:

                     (a)  sections 118‑12 (about assets used to produce non‑assessable income) and 855‑50 (about a trust becoming a resident trust) were disregarded; and

                     (b)  the trust estate were a resident trust for CGT purposes.