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INCOME TAX ASSESSMENT ACT 1997 - SECT 82.75 Death benefits paid to trustee of deceased estate

INCOME TAX ASSESSMENT ACT 1997 - SECT 82.75

Death benefits paid to trustee of deceased estate

  (1)   This section applies to you if:

  (a)   you are the trustee of a deceased estate; and

  (b)   a * death benefit termination payment is made to you in your capacity as trustee.

Note:   See also subsection   101A(3) of the Income Tax Assessment Act 1936 .

Dependants of deceased benefit from payment

  (2)   To the extent that 1 or more beneficiaries of the estate who were * death benefits dependants of the deceased have benefited, or may be expected to benefit, from the payment:

  (a)   the payment is treated as if it had been made to you as a person who was a death benefits dependant of the deceased; and

  (b)   the payment is taken to be income to which no beneficiary is presently entitled.

Note:   Section   82 - 65 deals with the taxation of employment termination payments made to persons who are death benefits dependants of deceased persons.

Non - dependants of deceased benefit from payment

  (3)   To the extent that 1 or more beneficiaries of the estate who were not * death benefits dependants of the deceased have benefited, or may be expected to benefit, from the payment:

  (a)   the payment is treated as if it had been made to you as a person who was not a death benefits dependant of the deceased; and

  (b)   the payment is taken to be income to which no beneficiary is presently entitled.

Note:   Section   82 - 70 deals with the taxation of employment termination payments made to persons who are not death benefits dependants of deceased persons.

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