Document ID: chunk:federal_register_of_legislation:C2025C00014:schedule:2f:p41
Version: federal_register_of_legislation:C2025C00014
Segment Type: schedule
Provision Reference: sch 2F (pt 41/79)
Character Range: 2306275–2308921

deduction would be allowable; and
 (d) the trust is not an excepted trust under paragraph 272‑100(b), (c) or (d).

Special case
 (2) If:
 (a) under a scheme, a person who, before the scheme was entered into, was an outsider to a trust becomes:
 (i) the trustee of the trust; or
 (ii) a person with a fixed entitlement to a share of the income or capital of the trust; and
 (b) if the person had not ceased to be an outsider to the trust, the requirements of subsection (1) would have been satisfied in relation to the scheme;
the requirements of subsection (1) are taken to have been satisfied in relation to the scheme.

270‑15  Tax consequences of schemes
  If the requirements of subsection 270‑10(1) are satisfied, the consequences are that:
 (a) to the extent (if any) that the deduction mentioned in paragraph 270‑10(1)(a) relates exclusively, or may appropriately be related, to the scheme assessable income, the deduction is not allowable; and
 (b) if the net income of the trust is less than the scheme assessable income or there is no net income—the trust has a net income equal to, or the net income is increased so that it equals, the scheme assessable income; and
 (c) paragraph (b) and the scheme assessable income are disregarded in working out any tax loss incurred by the trust in the income year; and
 (d) if paragraph (b) applies and the deduction mentioned in paragraph 270‑10(1)(a) is for a tax loss—paragraph (b) and the scheme assessable income are disregarded in working out any deduction in respect of the tax loss allowable after the income year.

270‑20  Benefit
  A benefit is:
 (a) money, a dividend or property (whether tangible or intangible); or
 (b) a right or entitlement (whether or not property); or
 (c) services; or
 (d) the extinguishment, forgiveness, release or waiver of a debt or other liability; or
 (e) the doing of anything that results in the derivation of assessable income; or
 (f) anything that, disregarding the preceding paragraphs, is a benefit or advantage.

270‑25  Outsider to trust

Outsider to family trust
 (1) If the trust mentioned in paragraph 270‑10(1)(a) is a family trust, an outsider to the trust is a person other than:
 (a) the trustee of the trust; or
 (b) a person with a fixed entitlement to a share of the income or capital of the trust; or
 (c) the individual specified in the trust's family trust election; or
 (d) a member of the individual's family; or
 (da) a trust with the same individual specified in its family trust election; or
 (e) a company, partnership or trust that made an interposed entity election to be included in the individual's family group, where the