Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 97A

             (1)  Where a beneficiary who is under a legal disability:

                     (a)  is presently entitled to a share of the income of a trust estate derived during a year of income of the beneficiary;

                     (b)  is the owner of a farm management deposit made during the year of income; and

                     (c)  is a primary producer when the deposit is made;

this Division applies in relation to the beneficiary in relation to the year of income as if the beneficiary were not under any legal disability.

          (1A)  Where a beneficiary who is deemed by subsection 95A(2) to be presently entitled to any income of a trust estate derived during a year of income of the beneficiary:

                     (a)  is not under a legal disability;

                     (b)  is the owner of a farm management deposit made during the year of income; and

                     (c)  is a primary producer when the deposit is made because the trustee of the trust estate is carrying on in Australia a primary production business;

the beneficiary is, for the purposes of the application of this Division in relation to that beneficiary in relation to that year of income, a beneficiary to whom this subsection applies.

             (2)  In this section:

"primary producer and owner of a farm management deposit" have the same meanings as in Schedule 2G.