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-J
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Debt-like trust instruments
Operative provisions
SECTION 276-510 Debt-like trust instruments treated as debt interests etc. 276-510(1)
For the purposes of this Act:
(a) treat a *debt-like trust instrument in relation to an *AMIT as a *debt interest in the AMIT; and
(b) treat a distribution on a debt-like trust instrument in relation to an AMIT as a cost incurred by the AMIT in relation to a debt interest issued by the AMIT.
276-510(2)
If a trust is an *AMIT for an income year (disregarding this subsection), paragraph (1)(a) applies for the purposes of:
(a) determining whether the trust is a *managed investment trust in relation to the income year; and
(b) determining whether the trust is an AMIT for the income year.
276-510(3)
For the purposes of Division 11A of Part III of the Income Tax Assessment Act 1936 , if an entity is the holder of a *debt-like trust instrument in an *AMIT, treat a distribution to the entity in accordance with the instrument as interest.
View history note
Hide history noteSECTION 276-510 Debt-like trust instruments treated as debt interests etc. 276-510(1)
For the purposes of this Act:
(a) treat a *debt-like trust instrument in relation to an *AMIT as a *debt interest in the AMIT; and
(b) treat a distribution on a debt-like trust instrument in relation to an AMIT as a cost incurred by the AMIT in relation to a debt interest issued by the AMIT.
276-510(2)
If a trust is an *AMIT for an income year (disregarding this subsection), paragraph (1)(a) applies for the purposes of:
(a) determining whether the trust is a *managed investment trust in relation to the income year; and
(b) determining whether the trust is an AMIT for the income year.
276-510(3)
For the purposes of Division 11A of Part III of the Income Tax Assessment Act 1936 , if an entity is the holder of a *debt-like trust instrument in an *AMIT, treat a distribution to the entity in accordance with the instrument as interest.
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