Explanatory Notes

Income Tax Act 2007

2007 CHAPTER 3

20 March 2007

Commentary on Sections

Part 9: Special rules about settlements and trustees

Overview

Chapter 10: Heritage maintenance settlements

Overview

Section 514: Persons liable

1537. This section provides that the persons liable for the tax under section 512 are the trustees of the HMS. It is based on section 694(4) of ICTA.