Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 195 - Special types of company  

Subdivision 195-C - Corporate collective investment vehicles  

Operative provisions

SECTION 195-135   Application of Division 276 (AMITs) to a CCIV sub-fund trust  

195-135(1)    
This section sets out how to apply Division 276 to a trust that is a *CCIV sub-fund trust.

Determining whether the trust is an attribution managed investment trust (AMIT)

195-135(2)    
In applying section 276-10 to the trust, disregard the following provisions:

(a)    paragraph 276-10(1)(b) ;

(b)    paragraph 276-10(1)(e) .

Note:

The effect of disregarding paragraph 276-10(1)(e) is that the trustee of a *CCIV sub-fund trust does not have a choice as to whether the trust is an AMIT.

Trustee cannot choose to treat classes of membership interests as separate AMITs

195-135(3)    
In applying Division 276 to the trust, disregard section 276-20 .