Document ID: chunk:federal_register_of_legislation:C2016C00523:clause:2_23
Version: federal_register_of_legislation:C2016C00523
Segment Type: clause
Provision Reference: sch 2 cl 23
Character Range: 47246–48421

23  At the end of section 207‑55
Add:
 (4) For the purposes of column 3 of item 3 of the table in subsection (3), the amount is the sum of:
 (a) so much of the amount worked out under column 2 of item 3 of the table in subsection (3) to which:
 (i) unless subparagraph (ii) applies—the focal entity is *specifically entitled; or
 (ii) if the focal entity is the trustee and has the share amount because of the operation of section 98 of the Income Tax Assessment Act 1936 in respect of a beneficiary (see subparagraph 207‑50(4)(b)(i))—the beneficiary is specifically entitled; and
 (b) if there is an amount of the *franked distribution to which no beneficiary is specifically entitled—that amount multiplied by:
 (i) unless subparagraph (ii) applies—the focal entity's *adjusted Division 6 percentage of the income of the trust for the relevant income year; or
 (ii) if the focal entity is the trustee and has the share amount because of the operation of section 98 of the Income Tax Assessment Act 1936 in respect of a beneficiary (see subparagraph 207‑50(4)(b)(i))—the beneficiary's adjusted Division 6 percentage of the income of the trust for the relevant income year.