Document ID: chunk:federal_register_of_legislation:C2004A00645:clause:1_4
Version: federal_register_of_legislation:C2004A00645
Segment Type: clause
Provision Reference: sch 1 cl 4
Character Range: 2161–2752

4  Subsection 16(5)
Repeal the subsection, substitute:

Special rule if person's spouse is a presently entitled beneficiary in a trust estate

 (5) In working out whether subsection (2) applies to a person whose spouse is a beneficiary presently entitled to a share in the net income of a trust estate in respect of which the trustee is liable to be assessed under section 98 of the Assessment Act, assume that:
 (a) the spouse's taxable income included that share; and
 (b) subsection 271‑105(1) in Schedule 2F to that Act did not apply in working out the net income of the trust estate.