Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_2:p7
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 7/13)
Character Range: 844457–847089

99 or 99A of the Income Tax Assessment Act 1936.

Multiple applications of this Part to the same trustee for the same income year
 (4) The application of this Part for an income year, to the trustee of a trust, in respect of a beneficiary of the trust, because of subsection (1), is distinct from, and additional to, each of the following:
 (a) the application of this Part for that income year, to the trustee of the trust, in respect of another beneficiary;
 (b) the application of this Part for that income year, to the trustee of the trust, because of subsection (3);
 (c) the application of this Part for that income year to a beneficiary of the trust.
 (5) The application of this Part for an income year, to the trustee of a trust, because of subsection (3), is distinct from, and additional to, each of the following:
 (a) the application of this Part for that income year, to the trustee of the trust, in respect of a beneficiary of the trust, because of subsection (1);
 (b) the application of this Part for that income year to a beneficiary of the trust.
 (6) A multi‑rate trustee is a trustee to whom this Part applies because of this section.

45‑460  Rest of Subdivision applies only to multi‑rate trustees
  The rest of this Subdivision applies to you if, and only if, you are a *multi‑rate trustee. (It applies instead of Subdivisions 45‑J and 45‑K.)
Note: Except as provided in the rest of this Subdivision or elsewhere, this Part applies according to its terms to a multi‑rate trustee. For example, a multi‑rate trustee can become an annual payer under Subdivision 45‑E.

45‑465  Meaning of instalment income
  Your instalment income for a period is the whole of the trust's *instalment income for that period.

45‑468  Multi‑rate trustee may pay quarterly instalments
  Subdivision 45‑D (about quarterly payers) applies to you in the same way as it applies to an individual.
Note: This means that a multi‑rate trustee may pay instalments on the basis of GDP‑adjusted notional tax if the trustee otherwise satisfies the relevant test that applies to an individual.

How Commissioner works out instalment rate and notional tax for a multi‑rate trustee

45‑470  Working out instalment rate
 (1) An instalment rate that the Commissioner gives you must be the percentage worked out to 2 decimal places (rounding up if the third decimal place is 5 or more) using the formula:
However, the instalment rate must be a nil rate if either component of the formula is nil.
 (2) For the purposes of the formula in subsection (1):
base assessment instalment income means so much of the assessable income of the trust, as worked