Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_6:p56
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 56/63)
Character Range: 478279–480909

out under the following method statement, and may be:
 (a) the amount of the actual or deemed payment; or
 (b) the amount of the actual or deemed payment, increased or reduced as a result of the method statement.
Note: The payment by the trustee may be an actual payment, or a deemed payment under section 12A‑205.

      Method statement
           Step 1. Reduce the actual or deemed payment by so much of it that is attributable to the excluded components.
           Step 2. Work out what it is reasonable to expect will be the amount mentioned in subsection (3).
            Do so on the basis that a *capital gain from *taxable Australian property of the trust that was or would be reduced under step 3 of the method statement in subsection 102‑5(1) of the Income Tax Assessment Act 1997 were double the amount it actually is.
           Step 3. The fund payment is so much of the step 2 amount as is reasonable having regard to:

                (a) the object of this section; and
                (b) the step 1 amount; and
                (c) the amounts of any earlier fund payments made by the trustee in relation to the income year; and
                (d) the expected amounts of any later fund payments the trustee expects to make in relation to the income year.
 (6) The amount mentioned in subsection (3) and the expected amounts of any later *fund payments are to be worked out on the basis of the trustee's knowledge when the payment is made.
 (7) Subsection (6) does not apply if the payment is a payment arising because of the operation of section 12A‑205 (deemed payments).
 (8) However, the payment is not a fund payment in relation to the income year if:
 (a) the payment (the actual payment) is a *post‑AMMA actual payment in respect of another payment; and
 (b) the other payment arises because of the operation of section 12A‑205; and
 (c) the other payment is a fund payment.
 (9) An amount is also not a fund payment in relation to the income year unless it is paid:
 (a) during the income year; or
 (b) within 3 months after the end of the income year; or
 (c) within a longer period (starting at the end of the period referred to in paragraph (b) and not exceeding 3 years) allowed by the Commissioner.
 (10) The Commissioner may allow a longer period as mentioned in paragraph (9)(c) only if the Commissioner is of the opinion that:
 (a) if the other payment arises at a time because of the operation of section 12A‑205 (deemed payments)—the *AMIT complied with subsection 276‑455(1) of the Income Tax Assessment Act 1997 in respect of the income year (requirement to give AMMA statements within 3