Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-25
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PARTICULAR KINDS OF TRUSTS
Division 276
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Australian managed investment trusts: attribution managed investment trusts
Subdivision 276-A
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What is an attribution managed investment trust?
Operative provisions
SECTION 276-15 Clearly defined interests 276-15(1)
Without limiting the circumstances in which the rights to income and capital arising from the *membership interests in a trust are clearly defined for the purposes of paragraph 276-10(1)(b) , treat such rights as being clearly defined at a particular time for those purposes if any of the following conditions are satisfied at that time:
(a) the trust is registered under section 601EB of the Corporations Act 2001 ;
(b) the rights to income and capital arising from each of the membership interests in the trust are the same.
276-15(2)
For the purposes of working out whether the condition in paragraph (1)(b) is satisfied, disregard the following:
(a) fees or charges imposed by the trustee on the *members of the trust;
(b) issue and redemption prices of *membership interests in the trust;
(c) exposure of the membership interests in the trust to foreign exchange gains and losses.
View history note
Hide history noteSECTION 276-15 Clearly defined interests 276-15(1)
Without limiting the circumstances in which the rights to income and capital arising from the *membership interests in a trust are clearly defined for the purposes of paragraph 276-10(1)(b) , treat such rights as being clearly defined at a particular time for those purposes if any of the following conditions are satisfied at that time:
(a) the trust is registered under section 601EB of the Corporations Act 2001 ;
(b) the rights to income and capital arising from each of the membership interests in the trust are the same.
276-15(2)
For the purposes of working out whether the condition in paragraph (1)(b) is satisfied, disregard the following:
(a) fees or charges imposed by the trustee on the *members of the trust;
(b) issue and redemption prices of *membership interests in the trust;
(c) exposure of the membership interests in the trust to foreign exchange gains and losses.
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