Document ID: chunk:federal_register_of_legislation:C2010C00622:clause:10_12
Version: federal_register_of_legislation:C2010C00622
Segment Type: clause
Provision Reference: sch 10 cl 12
Character Range: 71028–71656

12  After section 165‑205
Insert:

165‑207  Trustee of family trust treated as beneficial owner

 (1) For the purposes of a primary test, the trustee of a *family trust who owns *shares in a company is taken to own the shares beneficially.

 (2) For the purposes of an alternative test, the trustee of a *family trust who has the right to receive (whether directly, or indirectly through one or more interposed entities) a percentage of a *dividend or a distribution of capital is taken:
 (a) to have the right to receive the percentage for the trustee's own benefit; and
 (b) if the trustee is a company—not to be a company.