Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 (53 of 2016)

Schedule 5   20% tracing rule and repeal of Division 6B

Part 3   Amendments consequential on the repeal of Division 6B

Income Tax Assessment Act 1997

37   Subsection 124-1045(1) (note)

Repeal the note, substitute:

Note: Division 6C of Part III of the Income Tax Assessment Act 1936 deals with taxing public trading trusts in the same way as companies.