Document ID: chunk:federal_register_of_legislation:C2025C00014:section:99a:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 99A (pt 2/3)
Character Range: 660518–663001

person or persons, that has resulted in the conferring or attaching of any special right or privilege, on or to property of another trust estate, whether or not the right or privilege has been exercised;
  the Commissioner shall have regard to that fact; and
 (c) the Commissioner shall have regard to such other matters, if any, as he or she thinks fit.
 (3A) For the purposes of the application of paragraph (3)(a) in relation to a trust estate of the kind referred to in paragraph (2)(a), a reference in that first‑mentioned paragraph to the trust estate shall be read as including a reference to the person as a result of whose death the trust estate arose.
 (4) Where there is no part of the net income of a resident trust estate:
 (a) that is included in the assessable income of a beneficiary of the trust estate in pursuance of section 97;
 (b) in respect of which the trustee of the trust estate is assessed and liable to pay tax in pursuance of section 98; or
 (c) that represents income to which a beneficiary is presently entitled that is attributable to a period when the beneficiary was not a resident and is also attributable to sources out of Australia;
the trustee shall be assessed and is liable to pay tax on the net income of the trust estate at the rate declared by the Parliament for the purposes of this section.
Note: If the trust estate's net income includes a net capital gain, Subdivision 115‑C of the Income Tax Assessment Act 1997 affects the assessment of the trustee.
 (4A) Where there is a part of the net income of a resident trust estate:
 (a) that is not included in the assessable income of a beneficiary of the trust estate in pursuance of section 97;
 (b) in respect of which the trustee is not assessed and is not liable to pay tax in pursuance of section 98; and
 (c) that does not represent income to which a beneficiary is presently entitled that is attributable to a period when the beneficiary was not a resident and is also attributable to sources out of Australia;
the trustee shall be assessed and is liable to pay tax on that part of the net income of the trust estate at the rate declared by the Parliament for the purposes of this section.
Note: If the trust estate's net income includes a net capital gain, Subdivision 115‑C of the Income Tax Assessment Act 1997 affects the assessment of the trustee.
 (4B) Where there is no part of the net income of a trust estate that is not a resident trust estate:
 (a) that is included in the