Commonwealth Consolidated Acts Commonwealth Consolidated Acts(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.