Taxation Administration Act 1953

Start formula Net withholding income of the trust times start fraction Relevant share over Reduced net income of the trust end fraction end formula

net withholding income of the trust means:

• the total of the amounts included in the trust’s assessable income for the *base assessment in respect of *withholding payments (except *non‑quotation withholding payments);

reduced by:

• the trust’s deductions for that year, as used in making that assessment, to the extent that they reasonably relate to those amounts.

reduced net income of the trust has the meaning given by subsection 45‑480(2).

relevant share has the meaning given by subsection 45‑480(2).

How Commissioner works out benchmark instalment rate and benchmark tax for a multi‑rate trustee