Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 102AAZE

    An amount is not to be included in the assessable income of the taxpayer of a year of income under section   102AAZD in relation to a trust estate that is a listed country trust estate in relation to the year of income if the amount obtained by:

  (a)   identifying each trust estate in relation to which the taxpayer is an attributable taxpayer in relation to the year of income; and

  (b)   calculating the attributable income of the year of income of each such trust estate; and

  (c)   adding the amounts calculated under paragraph   (b);

does not exceed the lesser of the following amounts:

  (d)   $20,000;

  (e)   10% of the total of the net incomes of each of those trust estates of the year of income.