Document ID: chunk:federal_register_of_legislation:F2017L00229:body:0:p7
Version: federal_register_of_legislation:F2017L00229
Segment Type: other
Provision Reference: 
Character Range: 15175–17978

a trust, an individual receives a distribution of corpus from the trust (the distribution); and
 (b) the individual is an attributable stakeholder of the trust during an attribution period that corresponds with the derivation period of the trust; and
 (c) the distribution made to the attributable stakeholder is part of a distribution to all attributable stakeholders of the trust (the total distribution); and
 (d) the proportion that the distribution to each attributable stakeholder bears to the total distribution, expressed as a percentage, is the same as the attributable stakeholder's asset attribution percentage in relation to the trust.
 (2) For paragraph 1207Z (2) (d) of the Act, the Secretary must consider determining that the ordinary income of the individual received during the attribution period does not include the amount or value of the distribution if, but for this section, the distribution would be included in the ordinary income of the individual for that period.

 (3) For paragraph 1207Z (2) (e) of the Act, the Secretary must consider determining that the ordinary income of the individual received during the attribution period does not include any part of the amount or value of the distribution if, but for this section, any part of the amount or value of the distribution would be included in the ordinary income of the individual for that period.
18 No double counting of attributed income — other distributions by trust
 (1) This section applies if:
 (a) during a particular derivation period of a trust, an individual receives a distribution of corpus or income from the trust (the distribution); and
 (b) the individual is an attributable stakeholder of the trust during an attribution period that corresponds with the derivation period of the trust; and
 (c) the distribution is made in circumstances other than those mentioned in section 14 and paragraphs 17 (1) (c) and (d); and
 (d) the individual is taken to receive additional ordinary income, during that attribution period, in accordance with subsection 1207Y (1) of the Act.
 (2) For paragraph 1207Z (2) (d) of the Act, if the amount of the distribution is less than, or equal to, the additional ordinary income that the individual is taken to receive in accordance with subsection 1207Y (1) of the Act during the attribution period, the Secretary must consider determining that the ordinary income of the individual received during that period does not include the amount of that distribution.
 (3) For paragraph 1207Z (2) (e) of the Act, if the amount of the distribution exceeds the additional ordinary income that the individual is taken to receive in accordance with subsection 1207Y (1) of the Act during the attribution period, the Secretary must consider determining that the ordinary income of the