Document ID: chunk:federal_register_of_legislation:F2015L00068:front:0:p27
Version: federal_register_of_legislation:F2015L00068
Segment Type: other
Provision Reference: 
Character Range: 70194–72892

the purposes of the application of Subdivision G of Division 11A of Part 111B of the Act to a specified individual and to a specified company or trust;
 (d) a determination under section 52ZZQ of the Act that a specified period is an attribution period for the purposes of the application of Division 11A of Part 111B of the Act to a specified individual and to a specified company or trust.

Part 2 Determination about excluded income (Act s 52ZZK)

Division 2.1 No double counting — both members of couple are attributable stakeholders of company or trust

5 Application of Division 2.1

  This Division applies if, in respect of an individual, the following circumstances exist:
 (a) the individual is a member of a couple;
 (b) the individual and the individual's partner are attributable stakeholders of a company or trust;
 (c) during a derivation period of the company or trust, the individual:
 (i) may, or may not, receive a distribution from the company or trust; but
 (ii) is taken to receive an amount of attributable income during the attribution period that relates to the derivation period;
 (d) during the derivation period mentioned in paragraph (c), the individual's partner:
 (i) receives a distribution from the company or trust; and
 (ii) is taken to receive an amount of attributable income during the attribution period that relates to the derivation period.

6 Sum of distributions is the same as sum of attributable income

 (1) This section applies if:
 (a) the sum of the distributions mentioned in subparagraphs 5 (c) (i) (if any) and 5 (d) (i) is the same as the sum of the attributable income mentioned in subparagraphs 5 (c) (ii) and 5 (d) (ii); but
 (b) the amount of the distribution mentioned in subparagraph 5 (d) (i) is greater than the amount of attributable income mentioned in subparagraph 5 (d) (ii).

 (2) The Commission must consider determining that the difference between the amounts referred to in paragraph (1) (b) is excluded income in relation to the attributable income of the individual mentioned in paragraph 5 (c).

7 Sum of distributions is less than sum of attributable income

 (1) This section applies if:
 (a) the sum of the distributions mentioned in subparagraphs 5 (c) (i) (if any) and 5 (d) (i) is less than the sum of the attributable income mentioned in subparagraphs 5 (c) (ii) and 5 (d) (ii); but
 (b) the amount of the distribution mentioned in subparagraph 5 (d) (i) is greater than the amount of attributable income mentioned in subparagraph 5 (d) (ii).

 (2) The Commission must consider determining that the difference between the amounts referred to in paragraph (1) (b) is excluded income in relation to the attributable