Document ID: chunk:federal_register_of_legislation:C2025C00014:schedule:2f:p70
Version: federal_register_of_legislation:C2025C00014
Segment Type: schedule
Provision Reference: sch 2F (pt 70/79)
Character Range: 2375798–2378459

fixed entitlements to a greater than 50% share of the income or a greater than 50% share of the capital of the company or partnership.

272‑90  Family group
 (1) This section states whether a person is a member of the family group of the individual (the primary individual) specified in the family trust election in relation to a conferral of a present entitlement to, or a distribution of, income or capital of a company, partnership or trust, upon or to the person.

Family member
 (2) A member of the primary individual's family (see section 272‑95) is a member of the primary individual's family group in relation to the conferral or distribution.

Certain former family members
 (2A) The following persons are members of the primary individual's family group in relation to the conferral or distribution:
 (a) a person who was a spouse of either the primary individual or of a member of the primary individual's family before a breakdown in the marriage or relationship; and
 (b) a person:
 (i) who was the spouse of either the primary individual or of a member of the primary individual's family immediately before the death of the primary individual or member of the primary individual's family; and
 (ii) who is now the spouse of a person who is not a member of the primary individual's family; and
 (c) a person who was a child of the spouse of either the primary individual or of a member of the primary individual's family before a breakdown in the marriage or relationship of the primary individual or the member of the primary individual's family.
Note: The fact that a person is a member of the family group of an individual under this subsection does not mean that the person is a member of the individual's family under section 272‑95.

Trust covered by family trust election
 (3) The trust in respect of which the family trust election was made is a member of the primary individual's family group in relation to the conferral or distribution.

Trust with same primary individual
 (3A) A trust with the same primary individual specified in its family trust election is a member of the primary individual's family group in relation to the conferral or distribution.

Entity covered by interposed entity election
 (4) A company, partnership or trust is a member of the primary individual's family group in relation to the conferral or distribution if:
 (a) the company, partners or trustee has made an interposed entity election to that effect; and
 (b) the election is in force when the conferral takes place or the distribution is made.

Entity owned by family
 (5) A company, partnership or trust is a member of the primary individual's family