Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 1/34)
Character Range: 3526751–3529542

4                                the trustee of a trust is the intermediary entity and the trustee or a beneficiary of the trust is the focal entity if:               the amount worked out under column 3 of:                                                                                                     so much of the amount worked out under column 2 of this item as is attributable to the focal entity in this item, having regard to the trust deed and any other relevant circumstances
                                 (a) a *franked distribution *flows indirectly to the trustee as a partner in a partnership or as a beneficiary of another trust; and  (a) item 1 or 2 of this table where the trustee, as a partner, is the focal entity in that item; or
                                 (b) the trustee or beneficiary has, in respect of the trust, a share amount mentioned in subsection 207‑50(3) or (4)                  (b) item 3 or a previous application of this item where the trustee, as a beneficiary, is the focal entity in that item

Note: In item 3 or 4, the trustee of a trust can be both the intermediary entity and the focal entity in the same item.
 (4) For the purposes of column 3 of item 3 of the table in subsection (3), the amount is the sum of:
 (a) so much of the amount worked out under column 2 of item 3 of the table in subsection (3) to which:
 (i) unless subparagraph (ii) applies—the focal entity is *specifically entitled; or
 (ii) if the focal entity is the trustee and has the share amount because of the operation of section 98 of the Income Tax Assessment Act 1936 in respect of a beneficiary (see subparagraph 207‑50(4)(b)(i))—the beneficiary is specifically entitled; and
 (b) if there is an amount of the *franked distribution to which no beneficiary is specifically entitled—that amount multiplied by:
 (i) unless subparagraph (ii) applies—the focal entity's *adjusted Division 6 percentage of the income of the trust for the relevant income year; or
 (ii) if the focal entity is the trustee and has the share amount because of the operation of section 98 of the Income Tax Assessment Act 1936 in respect of a beneficiary (see subparagraph 207‑50(4)(b)(i))—the beneficiary's adjusted Division 6 percentage of the income of the trust for the relevant income year.

207‑57  Share of the franking credit on a franked distribution
 (1) An entity's share of a *franking credit on a *franked distribution is an amount notionally allocated to the entity as its share of that credit, whether or not the entity actually receives any of that credit or distribution.
 (2) Work out that amount as follows:

207‑58  Specifically entitled to an amount of a franked distribution
 (1) A beneficiary of a trust estate is specifically entitled to an amount of a *franked