Document ID: chunk:federal_register_of_legislation:C2008A00032:clause:1_2:p2
Version: federal_register_of_legislation:C2008A00032
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 2/4)
Character Range: 23962–26350

subsection applies to you if:
 (a) you are paid an amount from a trust that is a *managed investment trust in relation to an income year, or an amount is applied or dealt with as you direct by such a trust; and
 (b) all or part of that amount (the fund payment part) is represented by a payment that is a *fund payment in relation to that year; and
 (c) you are, in respect of the fund payment part, a beneficiary (but not a beneficiary in the capacity of a trustee of another trust); and
 (d) you are a foreign resident when you are paid the amount or when the amount is applied or dealt with as you direct.

Payments from custodians

 (3) This subsection applies to you if:
 (a) you are paid an amount from a *custodian, or an amount is applied or dealt with as you direct by a custodian; and
 (b) all or part of that amount (the fund payment part) is reasonably attributable to a payment that is a *fund payment in relation to an income year by a trust that is a *managed investment trust in relation to that year; and
 (c) you are, in respect of the fund payment part, a beneficiary (but not a beneficiary in the capacity of a trustee of another trust); and
 (d) you are a foreign resident when you are paid the amount or when the amount is applied or dealt with as you direct; and
 (e) either:
 (i) the custodian is not a company; or
 (ii) if it is a company, it would be acting in the capacity as your *agent apart from section 840‑820.

Entitlements to amounts from other entities

 (4) This subsection applies to you if:
 (a) you are a beneficiary of a trust (that is not a *managed investment trust or a *custodian) and are presently entitled to a share of the income or capital of the trust; and
 (b) all or part of that share (also the fund payment part) is reasonably attributable to a payment that is a *fund payment in relation to an income year made by a trust that is a managed investment trust in relation to that year; and
 (c) you are not, in respect of that share, a beneficiary in the capacity of a trustee of another trust; and
 (d) you are a foreign resident at the time (the entitlement time) when you became presently entitled.

Entitlement to capital of a trust

 (5) For the purposes of this section, section 95A of the Income Tax Assessment Act 1936 applies in relation to capital of a trust in the same way as it applies to income of the trust.

Exception