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<h1>Securitisation trust or payer deemed assessee in default if income distribution tax unpaid; full recovery provisions apply</h1> Where a person responsible for paying income distributed by a securitisation trust, or the trust itself, fails to pay the tax required on such distributed income, that person or the trust is deemed an assessee in default for the unpaid tax amount, and all statutory provisions for collection and recovery of income tax apply to recover the liability.