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--trusteesIf 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.