Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 99GA

    Subsection   98(3) does not apply to so much of the net income of a trust estate as represents income to which a beneficiary is presently entitled and gives rise to an amount that is non - assessable non - exempt income because of:

  (a)   Division   880 of the Income Tax Assessment Act 1997 ; or

  (b)   Division   880 of the Income Tax (Transitional Provisions) Act 1997 .