Assessing AMIT eligibility requirements
Before using the Attribution CCIV sub-fund tax return, a CCIV sub-fund must assess whether it meets the AMIT eligibility requirements, as modified by Subdivision 195-C of the ITAA 1997, to determine whether it is an attribution CCIV sub-fund for the income year. If a CCIV sub-fund trust meets the AMIT eligibility requirements, AMIT tax treatment must be applied for the income year.
Where the CCIV sub-fund meets the AMIT eligibility requirements for the income year, you must undertake an assessment to determine whether the CCIV sub-fund is required to apply AMIT tax treatment. This assessment must be completed for the income year before proceeding to use the Attribution CCIV sub-fund tax return.
If you have assessed that the CCIV sub-fund trust meets the AMIT eligibility requirements for the income year, and have applied AMIT tax treatment, indicate this by selecting the Yes box.
Safe harbour provisions
If you have not relied on a safe harbour provision to determine that the CCIV sub-fund trust meets the AMIT criteria for the income year, indicate this by selecting No at this label. If you answer No, leave the code box blank.
If you have chosen to rely on a safe harbour provision to satisfy AMIT eligibility for the period covered by this tax return, indicate this by selecting Yes. If you select Yes, you must also indicate in the CODE box the period of time for which the safe harbour provisions have been relied on as follows:
- if this is the first year that you have applied the safe harbour provisions, enter code A
- if you have applied the safe harbour provisions for 2 consecutive years, enter code B
- if you have applied the safe harbour provisions for more than 2 consecutive years, enter code C.
Where you have relied on a safe harbour provision to determine that the CCIV sub--fund trust meets the AMIT eligibility criteria and is an attribution CCIV sub-fund trust for the income year, you must keep appropriate records to support your use of the safe harbour. We may engage with you to determine if your reliance on the safe harbour provision is appropriate.
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Return to: Instructions to complete the attribution CCIV sub-fund tax return 2024