Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 207.126

  (1)   This section applies to a beneficiary of a trust in relation to an income year if:

  (a)   the sum of the distributions:

  (i)   made to the beneficiary during the income year by the trustee of the trust; and

  (ii)   that relate to the beneficiary's * trust share amount in relation to a * franked distribution made during the income year;

is less than:

  (b)   that trust share amount.

Commissioner's power to treat trust share amount as having been distributed during the income year

  (2)   Subsection   (1) does not apply if the Commissioner, having regard to all the circumstances, considers that it would be reasonable to treat the * trust share amount as having been distributed to the beneficiary in the income year.