Commonwealth of Australia Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 82.75

             (1)  This section applies to you if:

                     (a)  you are the trustee of a deceased estate; and

                     (b)  a * death benefit termination payment is made to you in your capacity as trustee.

Note:          See also subsection 101A(3) of the Income Tax Assessment Act 1936 .

Dependants of deceased benefit from payment

             (2)  To the extent that 1 or more beneficiaries of the estate who were * death benefits dependants of the deceased have benefited, or may be expected to benefit, from the payment:

                     (a)  the payment is treated as if it had been made to you as a person who was a death benefits dependant of the deceased; and

                     (b)  the payment is taken to be income to which no beneficiary is presently entitled.

Note:          Section 82- 65 deals with the taxation of employment termination payments made to persons who are death benefits dependants of deceased persons.

Non-dependants of deceased benefit from payment

             (3)  To the extent that 1 or more beneficiaries of the estate who were not * death benefits dependants of the deceased have benefited, or may be expected to benefit, from the payment:

                     (a)  the payment is treated as if it had been made to you as a person who was not a death benefits dependant of the deceased; and

                     (b)  the payment is taken to be income to which no beneficiary is presently entitled.

Note:          Section 82-70 deals with the taxation of employment termination payments made to persons who are not death benefits dependants of deceased persons.

Guide to Subdivision 82-C