Document ID: chunk:federal_register_of_legislation:C2010C00603:clause:3_4:p8
Version: federal_register_of_legislation:C2010C00603
Segment Type: clause
Provision Reference: sch 3 cl 4 (pt 8/8)
Character Range: 102142–103988

amount.

 (3) For the purposes of paragraph 207‑130(1)(c), and at least to the extent of the relevant benefit, the controller or *associate is taken to have benefited from a *distribution event or *arrangement that caused section 207‑120 to apply in relation to the *franked distribution or *trust share amount.

Commissioner's power not to apply subsection (2) or (3)

 (4) Subsection (2) or (3) does not apply in relation to a benefit if the Commissioner is satisfied, having regard to all the circumstances, that it would be unreasonable to apply that subsection.

207‑134  Entity's present entitlement disregarded in certain circumstances

  The present entitlement of a beneficiary of a trust to a share of trust income is disregarded for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936 if:
 (a) the beneficiary has claimed a *tax offset under section 207‑45 or 207‑110 of this Act on the basis that the beneficiary was an *exempt institution that was eligible for a refund in relation to a *trust share amount that is that share of trust income; but
 (b) the beneficiary was not entitled to that tax offset because of the operation of section 207‑120, 207‑122, 207‑124 or 207‑126 in respect of a *distribution event, or an *arrangement, to which the trust share amount is related.

Note: This means that the trustee of the trust is liable to pay income tax on that share of the trust income.

207‑136  Review of certain decisions

  An entity that is dissatisfied with a decision of the Commissioner under any of the following provisions may object against it in the manner set out in Part IVC of the Taxation Administration Act 1953:
 (a) paragraph 207‑120(3)(b);
 (b) subsection 207‑126(2);
 (c) subsection 207‑128(4);
 (d) paragraph 207‑130(1)(e);
 (e) paragraph 207‑130(8)(b);
 (f) subsection 207‑132(4).