Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 102AAZE

                   An amount is not to be included in the assessable income of the taxpayer of a year of income under section 102AAZD in relation to a trust estate that is a listed country trust estate in relation to the year of income if the amount obtained by:

                     (a)  identifying each trust estate in relation to which the taxpayer is an attributable taxpayer in relation to the year of income; and

                     (b)  calculating the attributable income of the year of income of each such trust estate; and

                     (c)  adding the amounts calculated under paragraph (b);

does not exceed the lesser of the following amounts:

                     (d)  $20,000;

                     (e)  10% of the total of the net incomes of each of those trust estates of the year of income.