Commentary on Sections Structure of Chapters Overview Section 655: Estate income: discretionary interests in residue
2508.This section deals with estate income relating to discretionary interests in residue. It is based on section 698 of ICTA.
2509.The section sets out the basis on which estate income is treated as arising in a tax year for discretionary interests in residue. Estate income is treated as arising if a payment is made in the tax year in exercise of the discretion in favour of the person with the discretionary interest.