Document ID: chunk:federal_register_of_legislation:C2020A00064:clause:1_2
Version: federal_register_of_legislation:C2020A00064
Segment Type: clause
Provision Reference: sch 1 cl 2
Character Range: 6159–7078

2  After subsection 102AG(2)
Insert:
 (2AA) For the purposes of paragraph (2)(a), assessable income of a trust estate is of a kind covered by this subsection if:
 (a) the assessable income is derived by the trustee of the trust estate from property; and
 (b) the property satisfies any of the following requirements:
 (i) the property was transferred to the trustee of the trust estate to benefit the beneficiary from the estate of the deceased person concerned, as a result of the will, codicil, intestacy or order of a court mentioned in paragraph (2)(a);
 (ii) the property represents accumulations of income or capital from property that satisfies the requirement in subparagraph (i);
 (iii) the property represents accumulations of income or capital from property that satisfies the requirement in subparagraph (ii), or (because of a previous operation of this subparagraph) the requirement in this subparagraph.