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How broadly is 'income' defined in NTAA Corporate's discretionary trust deed?

While “income” is not defined in our discretionary trust deed, our trust deed does provide that the trustee may determine the income for each financial year, and may determine whether income is to include any capital gain. 

Refer in particular to subclause 5.1 and subclause 13.17 of our discretionary trust deed.  Also refer to subclause 5.2 in relation to default determination of income.