Document ID: chunk:federal_register_of_legislation:C2025C00014:schedule:2f:p71
Version: federal_register_of_legislation:C2025C00014
Segment Type: schedule
Provision Reference: sch 2F (pt 71/79)
Character Range: 2378226–2380827

entity election to that effect; and
 (b) the election is in force when the conferral takes place or the distribution is made.

Entity owned by family
 (5) A company, partnership or trust is a member of the primary individual's family group in relation to the conferral or distribution if, when the conferral takes place or the distribution is made:
 (a) the primary individual; or
 (b) one or more members of the primary individual's family; or
 (c) the trustees of one or more family trusts, provided the primary individual is specified in the family trust election of each of those family trusts;
or any combination of the above, have fixed entitlements directly or indirectly, and for their own benefit, to all of the income and capital of the company, partnership or trust.

Funds
 (6) A fund, authority or institution in Australia that is mentioned in item 1 or 2 of the table in section 30‑15 of the Income Tax Assessment Act 1997 is a member of the primary individual's family group in relation to the conferral or distribution if, assuming that a deduction were allowable under Division 30 of that Act in respect of the conferral or distribution, section 78A of this Act would not prevent any of the deduction being allowable.

Certain tax exempt bodies
 (7) An institution, hospital, trustee, society, association, club, or fund, all of whose income is exempt under:
 (a) section 50‑5 or 50‑10 of the Income Tax Assessment Act 1997; or
 (b) item 6.1 or 6.2 of the table in section 50‑30, or item 9.1 or 9.2 of the table in section 50‑45, of the Income Tax Assessment Act 1997;
is a member of the primary individual's family group in relation to the conferral or distribution if, assuming that a deduction were allowable under Division 30 of that Act in respect of the conferral or distribution, section 78A of this Act would not prevent any of the deduction being allowable.

Institutions etc. where no living beneficiaries
 (8) Either:
 (a) an institution all of whose income is exempt under item 1.1, 1.3 or 1.4 of the table in section 50‑5 of the Income Tax Assessment Act 1997; or
 (b) a fund, authority or institution in Australia that is mentioned in item 1 or 2 of the table in section 30‑15 of the Income Tax Assessment Act 1997;
is a member of the primary individual's family group in relation to the conferral or distribution if, when the conferral takes place or the distribution is made, all of the beneficiaries of the trust, in respect of which the family trust election was made, who were individuals have died.

Estate of deceased family
 (9) If the primary individual and all