Document ID: chunk:federal_register_of_legislation:C2025C00014:section:99a:p3
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 99A (pt 3/3)
Character Range: 662794–664334

of the Income Tax Assessment Act 1997 affects the assessment of the trustee.
 (4B) Where there is no part of the net income of a trust estate that is not a resident trust estate:
 (a) that is included in the assessable income of a beneficiary of the trust estate in pursuance of section 97;
 (b) in respect of which the trustee of the trust estate is assessed and liable to pay tax in pursuance of section 98; or
 (c) that is attributable to sources out of Australia;
the trustee shall be assessed and is liable to pay tax on the net income of the trust estate at the rate declared by the Parliament for the purposes of this section.
Note: If the trust estate's net income includes a net capital gain, Subdivision 115‑C of the Income Tax Assessment Act 1997 affects the assessment of the trustee.
 (4C) Where there is a part of the net income of a trust estate that is not a resident trust estate:
 (a) that is attributable to sources in Australia;
 (b) that is not included in the assessable income of a beneficiary of the trust estate in pursuance of section 97; and
 (c) in respect of which the trustee of the trust estate is not assessed and is not liable to pay tax in pursuance of section 98;
the trustee shall be assessed and is liable to pay tax on that part of the net income of the trust estate at the rate declared by the Parliament for the purposes of this section.
Note: If the trust estate's net income includes a net capital gain, Subdivision 115‑C of the Income Tax Assessment Act 1997 affects the assessment of the trustee.