Taxation of member's share: entity-level tax exempts members, unless the entity is untaxed or taxed below top rate. Clause 310 establishes that a member's share of income from an AOP/BOI is exempt from tax in the member's hands when the association/body is taxed on that ... Summary
Taxation of member's share: entity-level tax exempts members, unless the entity is untaxed or taxed below top rate.
Clause 310 establishes that a member's share of income from an AOP/BOI is exempt from tax in the member's hands when the association/body is taxed on that income; if the AOP/BOI is not chargeable to tax the member's share is taxed in the member's hands; and if the AOP/BOI is taxed at the maximum marginal rate the member's share is excluded from his total income, otherwise the member's share is included in his total income.
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TaxTMI 
TaxTMI 
