Document ID: chunk:federal_register_of_legislation:C2004A00636:clause:1_11
Version: federal_register_of_legislation:C2004A00636
Segment Type: clause
Provision Reference: sch 1 cl 11
Character Range: 7559–8610

11  After section 45‑280 in Schedule 1
Insert:

45‑290  Exceptions to exclusion of trust capital gains from beneficiary's instalment income

 (1) This section sets out cases where paragraph (b) of the definition of your assessable income from the trust for the last income year in subsection 45‑280(2) does not apply.

 (2) It does not apply in the case of:
 (a) an eligible ADF (as defined in section 267 of the Income Tax Assessment Act 1936) for the income year that is or includes the current period; or
 (b) an eligible superannuation fund (as defined in that section) for that year; or
 (c) a pooled superannuation trust (as defined in that section) for that year.

 (3) It does not apply in the case of a *life insurance entity or *registered organisation to the extent that the share of the trust's net income is included in the *CS/RA class of its assessable income for the income year that is or includes the current period.

Note: The CS/RA class relates to the Complying Superannuation/Roll‑over Annuity aspect of the entity's business.