Document ID: chunk:federal_register_of_legislation:C2025C00162:clause:1a_1207w
Version: federal_register_of_legislation:C2025C00162
Segment Type: clause
Provision Reference: sch 1A cl 1207W
Character Range: 2565607–2566957

1207W  Interest in a trust
 (1) For the purposes of this Division, if an entity:
 (a) has entered into a contract to purchase a beneficial interest in the corpus or income of a trust; or
 (b) has a right, otherwise than by reason of holding an interest in a trust, to have such an interest transferred to the entity or to the entity's order (whether the right is exercisable presently or in the future) and whether on the fulfilment of a condition or not; or
 (c) has the right to acquire such an interest under an option (whether the right is exercisable presently or in the future) and whether on the fulfilment of a condition or not; or
 (d) is otherwise entitled to acquire such an interest;
the entity is taken to hold that interest in the trust.
 (2) An entity is taken to hold an interest in the corpus or income of a trust even if the entity holds the interest jointly with another entity.
 (3) An interest in the corpus or income of a trust is not to be disregarded only because of:
 (a) its remoteness; or
 (b) the manner in which it arose; or
 (c) the fact that the exercise of a right conferred by the interest is, or is capable of being made, subject to restraint or restriction.
 (4) In this section:
income means income within the ordinary meaning of that expression.

Division 6—Attributable stakeholders and attribution percentages