38DAmount to be withheld if beneficiary is presently entitled to income of closely held trust

38D Amount to be withheld if beneficiary is presently entitled to 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 beneficiary’s share of the net income of the trust under subsection 12‑180(2) of the Act is the amount worked out using the formula: Image unavailable in extracted text

Note 1: The amount of an entitlement in a financial year is affected by the operation of subsection 12‑180(4) of the Act.

Note 2: For top rate, see regulation 2.