Document ID: chunk:federal_register_of_legislation:C2025C00014:section:4:p1
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 4 (pt 1/3)
Character Range: 609197–611678

4                       At least $10,000                                  Nil

  B  is the number of whole dollars in the eligible portion.
  C  is the number of whole dollars in the taxable income of the taxpayer of the year of income; and
  D  is the number of whole dollars in the difference between the taxpayer's primary production deductions for the year of income and the taxpayer's assessable primary production income for that year; and
 (b) the relevant part of the eligible portion of the taxable income of the taxpayer is the amount ascertained by deducting from the amount of that eligible portion so much of that eligible portion as is the prescribed part of that eligible portion.
 (11) Where:
 (a) section 98 applies in relation to the net income of a trust estate or a share of that net income; and
 (b) this section applies to a portion (in this subsection referred to as the relevant portion) of that net income or of that share of that net income, as the case may be;
the trustee of the trust estate shall be assessed and is liable to pay further tax, in accordance with subsection (12A) or (12B), upon the relevant portion of that net income or of that share of that net income, as the case may be.
 (12) Where:
 (a) section 99 applies in relation to the net income of a trust estate or a part of that net income; and
 (b) this section applies to a portion (in this section referred to as the eligible trust portion) of that net income or of that part of that net income, as the case may be;
the trustee of the trust estate shall be assessed and is liable to pay further tax, in accordance with subsection (12A) or (12B), upon the eligible trust portion.
 (12A) Where Division 16 does not apply in respect of the net income of a trust estate of which the eligible trust portion is a portion, the trustee is liable to pay further tax upon the eligible trust portion at the rate declared by the Parliament to be the rate of further tax payable in pursuance of subsection (11) or (12) in respect of the relevant part of the net income of a trust estate.
 (12B) Where Division 16 applies in respect of the net income of a trust estate of which the eligible trust portion is a portion, the trustee is liable to pay further tax upon the relevant part of the eligible trust portion at the rate declared by the Parliament to be the rate of further tax payable in pursuance of subsection (11) or (12) in respect of the relevant part of the net income of a trust estate