Document ID: chunk:federal_register_of_legislation:C2016A00054:clause:2_2:p3
Version: federal_register_of_legislation:C2016A00054
Segment Type: clause
Provision Reference: sch 2 cl 2 (pt 3/3)
Character Range: 39556–41144

of any *capital gain from a *disposal, were the disposal to happen in relation to trust or partnership, of investments made as a result of contributions that gave rise to the notional tax offset:
 (a) the percentage determined under subsection (2) must be equivalent to that fixed proportion at the end of the income year to which the notional tax offset relates; and
 (b) a determination of any other percentage has no effect.
 (4) The trustee or partnership must give the *member written notice of the determination. The notice:
 (a) must enable the member to work out the amount of the member's *tax offset by including enough information to enable the member to work out the member's share of the notional tax offset; and
 (b) must be given to the member within 3 months after the end of the income year, or within such further time as the Commissioner allows.
 (5) The sum of all the percentages determined under subsection (2) in relation to the *members of the trust or partnership must not exceed 100%.

61‑775  Amount of the ESVCLP tax offset—trustees
  If subsection 61‑760(3) applies, the amount of the *tax offset for the income year is the difference between:
 (a) what would, under section 61‑765, have been the amount of the tax offset to which the trust would have been entitled if it had been an individual; and
 (b) if *members of the trust are entitled to tax offsets under subsection 61‑760(2) arising from the same contributions from which the trustee's entitlement arises under subsection 61‑760(3)—the sum of the amounts, under section 61‑770, of those tax offsets.