Document ID: chunk:federal_register_of_legislation:C2010C00648:clause:10_3
Version: federal_register_of_legislation:C2010C00648
Segment Type: clause
Provision Reference: sch 10 cl 3
Character Range: 194356–195118

3                                the trustee of a trust is the intermediary entity and the trustee or a beneficiary of the trust is the focal entity if:               (a) if the trust has a positive amount of *net income for that year—the amount of the franked distribution; or                               so much of the amount worked out under column 2 of this item as is taken into account in working out that share amount
                                 (a) a *franked distribution is made to the trustee; and                                                                               (b) otherwise—nil
                                 (b) the trustee or beneficiary has, in respect of the trust, a share amount mentioned in subsection 207‑50(3) or (4)