Section EH 49 — Income Tax Act 2007: Refund on death

EH 49 Refund on death When this section applies (1) This section applies when a person— (a) has an adverse event income equalisation account; and (b) dies. Refund (2) Despite section FC 2 (Transfer at market value), the Commissioner must refund to the trustee of the person’s estate the amount that, on the date the deposit ends, is in the person’s adverse event income equalisation account. Defined in this Act: adverse event income equalisation account , amount , Commissioner , date the deposit ends , person , trustee , Compare: 2004 No 35 s EH 50