Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p13
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 13/18)
Character Range: 7506097–7508691

be treated, for the purposes of this Subdivision, as having been paid to you from the custodian.

Entitlements to amounts from other entities
 (4) This subsection applies to you if:
 (a) you are a beneficiary of a trust (that is not a *withholding MIT or a *custodian) and are presently entitled to a share of the income or capital of the trust; and
 (b) all or part of that share (also the fund payment part) is reasonably attributable to a payment that is a *fund payment in relation to an income year made by a trust that is a withholding MIT in relation to that year; and
 (c) you are not, in respect of that share, a beneficiary in the capacity of a trustee of another trust; and
 (d) you are a foreign resident at the time (the entitlement time) when you became presently entitled.

Modification—foreign pension funds
 (4A) For the purposes of subsections (2), (3) and (4), if:
 (a) the beneficiary, in respect of a fund payment part, is a beneficiary in the capacity of a trustee of another trust; and
 (b) the beneficiary is a *foreign pension fund;
the foreign pension fund is taken, in respect of that fund payment part, to be a beneficiary in its own right, and not a beneficiary in the capacity of the trustee of another trust.
 (4B) Foreign pension fund means:
 (a) an entity, the principal purpose of which is to fund pensions (including disability and similar benefits) for the citizens or other contributors of a foreign country, if:
 (i) the entity is a fund established by an *exempt foreign government agency; or
 (ii) the entity is established under a *foreign law for an exempt foreign government agency; or
 (b) a *foreign superannuation fund that has at least 50 *members.
 (4C) If:
 (a) a *foreign pension fund is liable to pay income tax on a fund payment part (a taxed part) because of the operation of subsection (4A); and
 (b) you are a beneficiary of the foreign pension fund and are presently entitled to a share of the income or capital of the foreign pension fund;
then, in working out for the purposes of paragraph (4)(b) whether all or part of that share is reasonably attributable to a payment that is a *fund payment, disregard the taxed part.

Modification—AMITs
 (4D) If the *managed investment trust mentioned in paragraph (2)(a), (3)(b) or (4)(b) is an *AMIT for the income year mentioned in that paragraph:
 (a) if paragraph (2)(a) applies—disregard the phrase "(but not a beneficiary in the capacity of a trustee of another trust)" in paragraph (2)(c); or
 (b) if paragraph (3)(b) applies—disregard the phrase "(but not a beneficiary in the capacity of