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of <h1>Proportional Trust Income Taxation: New Formula in Income Tax Bill 2025 Clarifies Beneficiary Tax Liability Under Clause 304(4)</h1> A new provision in the Income Tax Bill, 2025 addresses proportional taxation of trust beneficiaries. Clause 304(4) introduces a mathematical formula to determine the taxable portion of a beneficiary's income when only part of a trust's income is chargeable. The provision ensures fair taxation by calculating the proportion of income derived from the chargeable part of the trust, replacing the previous less explicit approach in the 1961 Act. This change aims to reduce interpretational disputes and provide clarity in trust income taxation.
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