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 276-515 Distribution on debt-like trust instrument could be deductible in working out trust components 276-515(1)
If an entity is the holder of a *debt-like trust instrument in relation to an *AMIT, for the purposes of sections 276-265 and 276-270 , treat a distribution to the entity in accordance with the instrument as a *return that the AMIT pays or provides on a *debt interest.
276-515(2)
For the purposes of subsection (1), disregard the distribution to the extent (if any) that it is referable to any of the following:
(a) *exempt income of the *AMIT;
(b) *non-assessable non-exempt income of the AMIT.
View history note
Hide history noteSECTION 276-515 Distribution on debt-like trust instrument could be deductible in working out trust components 276-515(1)
If an entity is the holder of a *debt-like trust instrument in relation to an *AMIT, for the purposes of sections 276-265 and 276-270 , treat a distribution to the entity in accordance with the instrument as a *return that the AMIT pays or provides on a *debt interest.
276-515(2)
For the purposes of subsection (1), disregard the distribution to the extent (if any) that it is referable to any of the following:
(a) *exempt income of the *AMIT;
(b) *non-assessable non-exempt income of the AMIT.
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