Document ID: chunk:federal_register_of_legislation:C2004A00986:clause:4_1
Version: federal_register_of_legislation:C2004A00986
Segment Type: clause
Provision Reference: sch 4 cl 1
Character Range: 50244–51358

1  After subsection 100(1)
Insert:

 (1A) If:
 (a) a beneficiary in a trust estate is under a legal disability or is deemed to be presently entitled to any of the income of the trust estate by virtue of the operation of subsection 95A(2); and
 (b) the beneficiary is not a beneficiary in any other trust estate and does not derive income from any other source; and
 (c) the beneficiary would receive a refund of tax offsets under Division 67 of the Income Tax Assessment Act 1997 for a particular year of income if the following amounts were included in the assessable income of the beneficiary for that year:
 (i) so much of the individual interest of the beneficiary in the net income of the trust estate for that year as is attributable to a period when the beneficiary was a resident;
 (ii) so much of the individual interest of the beneficiary in the net income of the trust estate for that year as is attributable to a period when the beneficiary was not a resident and is also attributable to sources in Australia;
then those amounts are included in the assessable income of the beneficiary for that year.