Document ID: chunk:federal_register_of_legislation:C2025C00014:section:102aaze
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 102AAZE
Character Range: 780446–781210

102AAZE  Accruals system of taxation does not apply to small amounts
  An amount is not to be included in the assessable income of the taxpayer of a year of income under section 102AAZD in relation to a trust estate that is a listed country trust estate in relation to the year of income if the amount obtained by:
 (a) identifying each trust estate in relation to which the taxpayer is an attributable taxpayer in relation to the year of income; and
 (b) calculating the attributable income of the year of income of each such trust estate; and
 (c) adding the amounts calculated under paragraph (b);
does not exceed the lesser of the following amounts:
 (d) $20,000;
 (e) 10% of the total of the net incomes of each of those trust estates of the year of income.