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

Schedule 6   Consequential amendments

Income Tax Assessment Act 1997

24   Paragraph 768-5(2)(b)

Repeal the paragraph, substitute:

(b) the amount is all or part of the *net income of the trust or partnership that would, apart from this subsection, be included in the entity's assessable income because of:

(i) Division 276; or

(ii) Division 5 or 6 of Part III of the Income Tax Assessment Act 1936; and