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Could you please advise about this question. QUESTION 2.7 (Discretionary distribution) The Estate of the Late Olivia Little (died in 2015) derived a net income

Could you please advise about this question.

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QUESTION 2.7 (Discretionary distribution) The Estate of the Late Olivia Little (died in 2015) derived a net income of $140,000 during the 2017/18 tax year. The Will provided that trust income was to be distributed as follows: Tim (her husband) 40% of any income Shaun (her 25 year-old son who has been certified insane) 25% of any income Rosa (her 20 year-old daughter who is a full-time student) 15% of any income Kristy (her 17 year-old daughter who is employed full-time) 10% of any income The Will also provides that the balance may be either retained or distributed to a beneficiary at the discretion of the trustee. During the tax year, an additional amount of $9,000 was also paid towards Rosa's overseas trip. Prepare a schedule (covering all beneficiaries) nominating: . Name of the BENEFICIARY . Whether or not the beneficiary is PRESENTLY ENTITLED . Whether or not the beneficiary is under a LEGAL DISABILITY Which sections of the Act apply to make the income assessable . WHO IS ASSESSED on each amount . The amount distributed to the beneficiary

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