Document ID: chunk:federal_register_of_legislation:C2010C00184:clause:4_38
Version: federal_register_of_legislation:C2010C00184
Segment Type: clause
Provision Reference: sch 4 cl 38
Character Range: 126985–127656

38  Subsection 102UT(1)
Repeal the subsection, substitute:

 (1) If, at the end of a year of income:
 (a) a trustee beneficiary of a closely held trust is presently entitled to a share of a tax‑preferred amount of the trust; and
 (b) the trustee of the closely held trust is not covered by a determination under subsection 102UK(1A) for the year of income;
the trustee of the closely held trust must, during the TB statement period, make and send to the Commissioner a correct TB statement covering the share.

Note: The heading to section 102UT is replaced by the heading "Requirement to make correct TB statement about trustee beneficiaries of tax‑preferred amounts".