Private ruling: Commissioners discretion
Date of advice: 6 September 2019
Published: November 2019
Ruling period: Year ended 30 June 20XX | Year ended 30 June 20XX | Year ended 30 June 20XX | Year ended 30 June 20XX | Year ended 30 June 20XX | Year ended 30 June 20XX | Year ended 30 June 20XX | Year ended 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner exercise the discretion under subsection 99A(2) of the Income Tax Assessment Act 1936 (ITAA 1936) to apply progressive concessional rates of tax as per section 99 of the ITAA 1936? | A1: Yes. After consideration of the relevant factors, the Commissioner is of the opinion that it would be unreasonable that section 99A of the ITAA 1936 should apply in relation to that trust estate in relation to the relevant year of income. Accordingly section 99 of the ITAA 1936 will apply.

Relevant facts and circumstances: The Deceased passed away on XX/mth/20XX. The Deceased left a Will. In accordance with the Will a Testamentary Trust has been created. No other funds will be contributed to the Trust other than what will be received from the estate. The Trust has been established for the benefit of the principal beneficiary and their descendants.

Relevant legislative provisions: Income Tax Assessment Act 1936 section 99 | Income Tax Assessment Act 1936 section 99A