Clause 30

by inserting, immediately after subsection (12C), the following subsection:“(12D) To avoid doubt, subsection (12) does not affect the operation of section 43(2) (read with section 43(2A)(ba)) in relation to a designated unit trust that is also an approved REIT exchange‑traded fund within the meaning of section 43(10).”;

by inserting, immediately after subsection (15), the following subsections:“(15A) Despite subsection (15), the statutory income for any year of assessment of a beneficiary of a trust (called in this subsection the first trust), where the beneficiary is itself a trustee of an approved REIT exchange‑traded fund, is that share of the statutory income of the trustee of the first trust that corresponds to the share of the income of the first trust to which the beneficiary is entitled for the year preceding the year of assessment.(15B) To avoid doubt, section 43(2) (read with section 43(2A)(ba)) applies to the statutory income under subsection (15A) of the beneficiary.”;

by renumbering the existing subsection (15A) as subsection (15C); and

by deleting the word “or” at the end of paragraph (b) of subsection (16), and by inserting immediately thereafter the following paragraph:“(ba)in relation to a trustee of an approved REIT exchange‑traded fund within the meaning of section 43(10), any income from a trade or business carried on by the trustee, other than a distribution received from a real estate investment trust that is in turn made out of income of the kinds mentioned in section 43(2A)(a)(i), (ii), (iii), (iv) and (v); or”.