Taxation Determination TD 92/192







This Determination, to the extent that it is capable of being a 'public ruling' in terms of Part IVAAA of the Taxation Administration Act 1953, is a public ruling for the purposes of that Part. Taxation Ruling TR 92/1 explains when a Determination is a public ruling and how it is binding on the Commissioner. Unless otherwise stated, this Determination applies to years commencing both before and after its date of issue. | 1. For the remainder of the financial year after the date of death and the next two financial years, as specified in the Income Tax Rates Act 1986 , Schedule 10, Part I. | Example : X died on 10 January 1992. At 30 June 1992 income of $6,500 has been derived to which no beneficiary is presently entitled. The trustee is assessed at resident individual rates. | If for the 1992 - 1993 and 1993 - 1994 income years there is still no beneficiary presently entitled, resident individual rates apply. | Commissioner of Taxation 26/11/92 | Previously issued as Draft TD 92/D174


Related rulings: IT 2622
Legislative references: ITAA 99 Income Tax Rates Act 1986 Schedule 10 (Part I)
Subject references: beneficiaries; deceased estates; present entitlement