Document ID: chunk:federal_register_of_legislation:C2025C00014:schedule:2f:p60
Version: federal_register_of_legislation:C2025C00014
Segment Type: schedule
Provision Reference: sch 2F (pt 60/79)
Character Range: 2352090–2354701

or trust and for their own benefit; and
 (b) any change before or after the test time in the individuals who can be identified as having fixed entitlements of the kind mentioned in paragraph (a); and
 (c) any other matter that the Commissioner considers relevant.

272‑35  Arrangements to pass fixed entitlement tests
 (1) If the operation of a provision of this Schedule depends on or is in any way affected by an individual having a fixed entitlement directly or indirectly, and for the individual's own benefit, to a share of the income or capital of a company, partnership or trust, an individual who would otherwise have that fixed entitlement is taken not to have it for the purposes of the operation of the provision if the condition in subsection (2) is met.
 (2) The condition is that an arrangement was entered into where:
 (a) the arrangement in some way (directly or indirectly) related to, affected or depended for its operation on the fixed entitlement or its value; and
 (b) the purpose, or one of the purposes, of the arrangement was to ensure that, for the purposes of the operation of the provision, the individual would have the fixed entitlement.

272‑40  Continued holding of fixed entitlement where death occurs
  If, immediately before an individual dies, he or she has a fixed entitlement to a share of the income or capital of a trust, partnership or company directly or indirectly, and for his or her own benefit, the individual is taken to continue to have the entitlement for so long as:
 (a) it is held by someone as trustee of the individual's estate; or
 (b) it is held by someone who received it as a beneficiary of the estate.

Subdivision 272‑B—Distribution of income or capital

272‑45  Trust distribution to beneficiary
  A trust distributes income or capital of the trust to a person if it:
 (a) pays or credits the income or capital in the form of money to the person; or
 (b) transfers the income or capital in the form of property to the person; or
 (c) reinvests or otherwise deals with the income or capital on behalf of the person or in accordance with the directions of the person; or
 (d) applies the income or capital for the benefit of the person;
in the person's capacity as a beneficiary of the trust.

272‑50  Company distribution to shareholder

Distribution of income
 (1) A company distributes income of the company to a person if the company pays a dividend or non‑share dividend to the person.

Distribution of capital
 (2) A company distributes capital of the company to a person if:
 (a) it pays or credits money, or transfers property, of the company to