Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The trustee of a trust may choose that a beneficiary of the trust is a chosen beneficiary of the trust for an income year if the trust does not have any income of the trust for the income year to which a beneficiary of the trust could be presently entitled.
(2) The maximum number of choices that the trustee may make in respect of the trust for an income year is the higher of:
(a) the number of individuals to which subsection 393 - 25(3) applied in the income year immediately before the current income year; and
(b) 12.
(3) A choice made under subsection (1) must be:
(a) in writing; and
(b) signed by the trustee and the person chosen.
(4) The trustee can make the choice no later than the time it lodges the trust's * income tax return for the income year to which the choice relates. However, the Commissioner can allow the trustee to make a choice at a later time.
(5) A choice cannot be revoked or varied.