38CAmount to be withheld from distribution of income of closely held trust

38C Amount to be withheld from distribution of income of closely held trust

For subsection 15‑10(2) of the Act, the amount to be withheld by a trustee of a closely held trust from a distribution to a beneficiary of the trust under subsection 12‑175(2) of the Act is the amount worked out using the formula: Image unavailable in extracted text

Note 1: The amount of a distribution in a financial year is affected by the operation of subsection 12‑175(4) of the Act.

Note 2: For top rate, see regulation 2.