Section 102UW — Income Tax Assessment Act 1936: Application of Division

This Division applies if: (a) the net income of a trust estate exceeds nil; and (b) any of the following things are taken into account in working out the net income of the trust estate: (i) a capital gain (to the extent that an amount of the capital gain remained after applying steps 1 to 4 of the method statement in subsection 102-5(1) of the Income Tax Assessment Act 1997); (ii) a franked distribution (to the extent that an amount of the franked distribution remained after reducing it by deductions that were directly relevant to it); (iii) a franking credit.