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

Schedule 6   Consequential amendments

Income Tax Assessment Act 1936

5   Paragraph 98B(2)(c)

Repeal the paragraph, substitute:

(c) the amount is reasonably attributable to:

(i) an amount (the taxed net income ) in respect of which the trustee of another trust estate is assessed and liable to pay tax (the subsection 98(4) tax ) under subsection 98(4); or

(ii) an amount (the taxed component ) in respect of which the trustee of an AMIT is assessed and liable to pay tax (the paragraph 276-105(2)(c) tax ) because of paragraph 276-105(2)(c) of the Income Tax Assessment Act 1997.