Commonwealth Numbered Acts

TAX LAWS AMENDMENT (2012 MEASURES NO. 3) ACT 2012 (NO. 58, 2012) - SCHEDULE 3

Income Tax Assessment Act 1936

1  At the end of section 159N

Add:

Rebate for a trustee assessed under section 98

             (6)  A trustee who is liable to be assessed under section 98 in respect of a share of the net income of a trust estate in respect of a beneficiary is not entitled under this section to a rebate of tax in their assessment for the year of income to the extent Division 6AA applies to that share.

2  Application

The amendment made by this Schedule applies to assessments for the 2011-12 year of income and later years of income.