Document ID: chunk:federal_register_of_legislation:C2010C00612:clause:1_2aa
Version: federal_register_of_legislation:C2010C00612
Segment Type: clause
Provision Reference: sch 1 cl 2AA
Character Range: 50013–51289

2AA  Beneficiary of trust whose net income includes a net capital gain  The beneficiary is treated as having:                                                                                                                                                                                                                     Subdivision 115‑C
                                                                        (a) an extra capital gain equal to each amount of the beneficiary's share of the net income that is attributable to the trust's capital gains that are not reduced under step 3 of the method statement in subsection 102‑5(1) or Subdivision 152‑C; and
                                                                        (b) an extra capital gain of double each amount of the beneficiary's share of the net income that is attributable to the trust's capital gains that are reduced under either step 3 of the method statement or Subdivision 152‑C but not both; and
                                                                        (c) an extra capital gain of 4 times each amount of the beneficiary's share of the net income that is attributable to the trust's capital gains that are reduced under both step 3 of the method statement and Subdivision 152‑C.