Document ID: chunk:federal_register_of_legislation:F2025L00233:reg:4a:p1
Version: federal_register_of_legislation:F2025L00233
Segment Type: reg
Provision Reference: reg 4A (pt 1/7)
Character Range: 3535–6507

4A  Purpose
  This instrument sets out decision-making principles with which the Commission must comply in making the following determinations:
           (a) a determination under subsection 52ZZK(2) of the Act that, for the purposes of the application of subsection 52ZZK(1) of the Act to a specified individual and a specified company or trust, a specified amount is excluded income;
           (b) a determination under section 52ZZL of the Act that the ordinary income of an individual does not include the amount or value of a distribution, or a part of the amount or value of a distribution, to the individual by a company or trust;
           (c) a determination under section 52ZZP(3) of the Act that a specified period is a derivation period of a company or trust for the purposes of the application of Subdivision G of Division 11A of Part IIIB of the Act to a specified individual and to a specified company or trust;
           (d) a determination under section 52ZZQ(1) of the Act that a specified period is an attribution period for the purposes of the application of Division 11A of Part IIIB of the Act to a specified individual and to a specified company or trust.

               Part 2 Determination about excluded income (Act, s 52ZZK)

               Division 2.1 No double counting—both members of couple are attributable stakeholders of company or trust

      5  Application of Division 2.1
  This Division applies if, in respect of an individual, the following circumstances exist:
           (a) the individual is a member of a couple;
           (b) the individual and the individual's partner are attributable stakeholders of a company or trust;
           (c) during a derivation period of the company or trust, the individual:
              (i) may, or may not, receive a distribution from the company or trust; but
              (ii) is taken to receive an amount of attributable income during the attribution period that relates to the derivation period;
           (d) during the derivation period mentioned in paragraph (c), the individual's partner:
              (i) receives a distribution from the company or trust; and
              (ii) is taken to receive an amount of attributable income during the attribution period that relates to the derivation period.

      6  Sum of distributions is the same as sum of attributable income
 (1) This section applies if:
           (a) the sum of the distributions mentioned in subparagraphs 5(c)(i) (if any) and 5(d)(i) is the same as the sum of the attributable income mentioned in subparagraphs 5(c)(ii) and 5(d)(ii); but
           (b) the amount of the distribution mentioned in subparagraph 5(d)(i) is greater than the amount of attributable income mentioned in subparagraph 5 (d)(ii).
 (2) The Commission must consider determining that the difference between the amounts referred to in paragraph (1)(b) is excluded income in relation to the attributable income of the individual