Section 80: Taxation of beneficiaries.

(1) Subject to subsection (4) of section 83, the assessable income of a resident beneficiary under a trust includesthe share of the chargeable income of the trust to which the beneficiary is absolutely entitled. (2) Subject to subsection (4) of section 83, the assessable income of a non-resident beneficiary under a trust includes the Sierra Leone-source chargeable income of the trust to which the beneficiary is entitled. (3) No beneficiary shall be allowed a deduction for a trust loss. (4) Chargeable income that is subject to taxation under section 81, shall not be included in the assessable income of a beneficiary to whom it is subsequently distributed. (5) For the purposes of this section and section 81, a beneficiary is deemed to be entitled to a share of the chargeable income of a trust in a year of assessment where the beneficiary becomes absolutely entitled to the income within thirty days of the end of the year of assessment.