Document ID: chunk:federal_register_of_legislation:C2016C00969:section:5:p2
Version: federal_register_of_legislation:C2016C00969
Segment Type: section
Provision Reference: s 5 (pt 2/5)
Character Range: 16128–18635

the purposes of the Assessment Act other than sections 99 and 99A, be deemed not to be, and never to have been, presently entitled to the relevant trust income;
 (g) a primary taxable amount equal to the relevant amount shall be taken to exist in relation to the trustee of the trust estate in relation to the relevant year of income.
 (2) Subject to subsection (3), where:
 (a) by reason of the application of subsection (1) or of this subsection, a primary taxable amount exists in relation to the trustee of a trust estate (in this subsection referred to as the sub‑trust) in relation to a year of income (in this subsection referred to as the relevant year of income) in relation to a tax avoidance scheme (in this subsection referred to as the relevant scheme);
 (b) apart from this section and section 100A of the Assessment Act, the trustee of the sub‑trust:
 (i) was presently entitled to a share of the income of another trust estate (in this subsection referred to as the head trust) of the relevant year of income;
 (ii) would, by reason that income of another trust estate (in this subsection also referred to as the head trust) of the relevant year of income was paid to, or applied for the benefit of, the trustee of the sub‑trust, have been deemed, for the purposes of the Assessment Act, to be presently entitled to income of the head trust; or
 (iii) would, by reason that the trustee of the sub‑trust had a vested and indefeasible interest in any of the income of another trust estate (in this subsection also referred to as the head trust) of the relevant year of income, have been deemed, for the purposes of the Assessment Act, to be presently entitled to that income of the head trust;
 (c) in a case to which subparagraph (b)(i) applies—the present entitlement of the trustee of the sub‑trust to the share or to a part of the share (which share or part is in this subsection referred to as the relevant head trust income) of the income of the head trust referred to in that subparagraph arose out of the relevant scheme or arose by reason of any act, transaction or circumstance that occurred as part of, in connection with or as a result of the relevant scheme;
 (d) in a case to which subparagraph (b)(ii) applies—the whole or a part (which whole or part is in this subsection also referred to as the relevant head trust income) of the income of the head trust referred to in that subparagraph was paid or applied as mentioned in that subparagraph as a result of the relevant scheme