Pass-through taxation for securitisation trust income preserves investor-level taxation while mandating reporting and deemed-accrual rules.
Clause 221 establishes a pass-through taxation regime for income from securitisation trusts, preserving the character and proportion of underlying income in the hands of investors, deeming unpaid accruals as credited on the last day of the tax year to prevent deferral, requiring prescribed statements to investors and tax authorities, and preventing double taxation by excluding income already taxed on accrual from subsequent inclusion on actual payment.