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INCOME TAX ASSESSMENT ACT 1997 - SECT 360.35 Amount of the tax offset--trustees

INCOME TAX ASSESSMENT ACT 1997 - SECT 360.35

Amount of the tax offset--trustees

    If subsection   360 - 15(3) applies, the amount of the * tax offset is the difference between:

  (a)   what would, under section   360 - 25, have been the amount of the tax offset to which the trustee would have been entitled if the trustee had been an individual; and

  (b)   if * members of the trust are entitled to tax offsets under subsection   360 - 15(2) arising from the same * shares to which the trustee's entitlement arises under subsection   360 - 15(3)--the sum of the amounts worked out under section   360 - 30 (disregarding any reductions under subsection   360 - 30(1A)) for those tax offsets.

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