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 Rates Act 1986

69   Subsection 3(1) (definition of prescribed unit trust)

Repeal the definition, substitute:

prescribed unit trust , in relation to a year of income, means a trust estate that is a public trading trust in relation to the year of income.