Document ID: chunk:federal_register_of_legislation:C2025C00014:section:102ag:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 102AG (pt 2/5)
Character Range: 807011–809764

the beneficiary from the estate of a deceased person;
 (ii) that was transferred to the trustee for the benefit of the beneficiary by another person out of property that devolved upon that other person from the estate of a deceased person and was so transferred within 3 years after the date of the death of the deceased person; or
 (iii) being a verifiable prize in a legally authorized and conducted lottery and being a prize of which the beneficiary is the beneficial owner; or
 (e) is derived by the trustee of the trust estate from the investment of any property that, in the opinion of the Commissioner, represents accumulations of:
 (i) assessable income derived by the trustee during a year of income in relation to which this Division applies, being assessable income that, in relation to the beneficiary, is excepted trust income;
 (ii) assessable income derived by the trustee during a year of income in relation to which this Division does not apply, being assessable income that would, in the opinion of the Commissioner, have been excepted trust income in relation to the beneficiary if this Division were applicable in relation to the year of income during which the assessable income was derived; or
 (iii) exempt income derived by the trustee to which subparagraph (i) or (ii) would, in the opinion of the Commissioner, apply if that exempt income had been assessable income.
 (2AA) For the purposes of paragraph (2)(a), assessable income of a trust estate is of a kind covered by this subsection if:
 (a) the assessable income is derived by the trustee of the trust estate from property; and
 (b) the property satisfies any of the following requirements:
 (i) the property was transferred to the trustee of the trust estate to benefit the beneficiary from the estate of the deceased person concerned, as a result of the will, codicil, intestacy or order of a court mentioned in paragraph (2)(a);
 (ii) the property represents accumulations of income or capital from property that satisfies the requirement in subparagraph (i);
 (iii) the property represents accumulations of income or capital from property that satisfies the requirement in subparagraph (ii), or (because of a previous operation of this subparagraph) the requirement in this subparagraph.
 (2A) Paragraph (2)(c) or subparagraph (2)(d)(ii) does not apply unless the beneficiary of the trust concerned will, under the terms of the trust, acquire the trust property (other than as a trustee) when the trust ends.
 (3) Subject to subsection (4), if any 2 or more parties to:
 (a) the derivation of the excepted trust income mentioned in subsection (2); or
 (b) any act or transaction directly or indirectly connected with the derivation of that excepted trust income;
were