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CX 58B: Amounts derived by certain close companies from trusts
or “Tax rules for money close companies receive from trusts”
You could also call this:

“Tax rules for money received from non-complying trusts”

When you receive money from a non-complying trust, it’s called a taxable distribution. This money is considered excluded income for you. This means you don’t have to include it when you’re working out your regular income for tax purposes. The government has special rules for how this money is taxed, which are explained in [section HC 19]. This section talks about taxable distributions from non-complying trusts and how they work.

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Next up: CX 60: Intra-group transactions

or “Rules for money exchanges between companies in the same group”
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Part C Income
Excluded income: Definitions

CX 59Taxable distributions from non-complying trusts

  1. An amount that a person derives in an income year as a taxable distribution from a non-complying trust under section HC 19 (Taxable distributions from non-complying trusts) is excluded income of the person.

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