Document ID: chunk:federal_register_of_legislation:F2025C00013:reg:37
Version: federal_register_of_legislation:F2025C00013
Segment Type: reg
Provision Reference: reg 37
Character Range: 48011–48555

37  Closely held trust—beneficiary is presently entitled to income
  The amount to be withheld by a trustee of a closely held trust from a beneficiary's share of the net income of the trust under subsection 12‑180(2) in Schedule 1 to the Act, is the product of the amount of the beneficiary's share of the net income of the trust and the top rate.
Note 1: The amount of an entitlement in a financial year is affected by the operation of subsection 12‑180(4) in Schedule 1 to the Act.
Note 2: For the threshold for withholding, see section 30.