Document ID: chunk:federal_register_of_legislation:C2025C00162:clause:1a_1207x
Version: federal_register_of_legislation:C2025C00162
Segment Type: clause
Provision Reference: sch 1A cl 1207X
Character Range: 2566957–2569387

1207X  Attributable stakeholder, asset attribution percentage and income attribution percentage

Company
 (1) For the purposes of this Part, if a company is a controlled private company in relation to an individual:
 (a) the individual is an attributable stakeholder of the company unless the Secretary otherwise determines; and
 (b) if the individual is an attributable stakeholder of the company—the individual's asset attribution percentage in relation to the company is:
 (i) 100%; or
 (ii) if the Secretary determines a lower percentage in relation to the individual and the company—that lower percentage; and
 (c) if the individual is an attributable stakeholder of the company—the individual's income attribution percentage in relation to the company is:
 (i) 100%; or
 (ii) if the Secretary determines a lower percentage in relation to the individual and the company—that lower percentage.

Trust
 (2) For the purposes of this Part, if:
 (a) a trust is a controlled private trust in relation to an individual; and
 (b) the trust is not a concessional primary production trust in relation to the individual (see section 1208U);
then:
 (c) the individual is an attributable stakeholder of the trust unless the Secretary otherwise determines; and
 (d) if the individual is an attributable stakeholder of the trust—the individual's asset attribution percentage in relation to the trust is:
 (i) 100%; or
 (ii) if the Secretary determines a lower percentage in relation to the individual and the trust—that lower percentage; and
 (e) if the individual is an attributable stakeholder of the trust—the individual's income attribution percentage in relation to the trust is:
 (i) 100%; or
 (ii) if the Secretary determines a lower percentage in relation to the individual and the trust—that lower percentage.
 (2A) The only attributable stakeholder of a special disability trust is the principal beneficiary of the trust.
Note 1: For special disability trust, see section 1209L.
Note 2: For principal beneficiary of a special disability trust, see subsection 1209M(1).

Determinations
 (3) A determination under this section is to be in writing.
 (4) A determination under this section has effect accordingly.
 (5) In making a determination under this section, the Secretary must comply with any relevant decision‑making principles.

Division 7—Attribution of income of controlled private companies and controlled private trusts