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QUESTION 2.21 (Comprehensive, inter vivos trust) During the 2021/22 tax year, Porter Chrystan created the Blind Trust, an inter vivos trust to provide services to his psychiatry practice. The net income of the trust for the 2021/22 tax year was $270,000. The trust is to be distributed as follows: The balance is to be accumulated and applied at the trustee's discretion for the beneficiaries. There were two discretionary distributions made: - \$6,000 was paid towards Barnaby's education. - $9,000 was paid to Ford Credit to pay off a debt incurred by Scott who is currently under medical supervision as he has been pronounced insane. Barnaby worked at Hillbilly Pizza for 8 hours per week and derived gross wages of $5,000 (PAYG tax withheld $440 ) during the year. He also received income of $7,000 from a deceased estate (including franking credits of \$400). 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 retained or distributed Calculate tax payable by the trustee. Calculate tax payable by Barnaby

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