Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3
Character Range: 3526069–3526751

3                                the trustee of a trust is the intermediary entity and the trustee or a beneficiary of the trust is the focal entity if:               (a) if the trust has a positive amount of *net income for that year—the amount of the franked distribution; or                               the amount mentioned in subsection (4)
                                 (a) a *franked distribution is made to the trustee; and                                                                               (b) otherwise—nil
                                 (b) the trustee or beneficiary has, in respect of the trust, a share amount mentioned in subsection 207‑50(3) or (4)