Document ID: chunk:federal_register_of_legislation:C2004A00636:clause:1_16:p6
Version: federal_register_of_legislation:C2004A00636
Segment Type: clause
Provision Reference: sch 1 cl 16 (pt 6/6)
Character Range: 21023–21614

45‑375) on the *reduced beneficiary's share, or the *reduced no beneficiary's share, as appropriate, of the net income of the trust for the variation year.

Benchmark tax if you had withholding income

 (2) However, your benchmark tax (as worked out under subsection (1)) is reduced if the trust's assessable income for the variation year includes amounts in respect of *withholding payments.

 (3) It is reduced (but not below nil) by the total amount of the credits to which you are entitled for the variation year under section 18‑25 (for amounts withheld from the withholding payments).