Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p5
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 5/5)
Character Range: 4656620–4657786

assets.

295‑400  Income of a PST attributable to current pension liabilities
 (1) This proportion of the *ordinary income and *statutory income that would otherwise be assessable income of a *pooled superannuation trust is *exempt income:

Exceptions
 (2) Subsection (1) does not apply to:
 (a) *non‑arm's length income; or
 (b) amounts included in assessable income under item 1 of the table in section 295‑320.

Alternative exemption
 (3) However, the trustee of the *pooled superannuation trust can choose that a different amount be *exempt income of the trust under this section if a percentage of the assessable income of the trust would have been exempt income under section 295‑385 or 295‑390 if it had been *derived instead by the unitholders in the trust in proportion to their holdings.
 (4) That percentage of the trust's *ordinary income and *statutory income is then *exempt income.

295‑405  Other exempt income
  The *ordinary income or *statutory income of an entity is exempt from income tax as set out in this table.
Note: For an explanation of the acronyms used, see section 295‑35.

Exempt income
Item           For this entity:  This is exempt: