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

Schedule 8   Application and transitional provisions etc.

Tax Laws Amendment (2011 Measures No. 5) Act 2011

5   Subitem 51(7) of Schedule 2

Repeal the subitem, substitute:

(7) A choice mentioned in subitem (6):

(a) can only be made before the end of 2 months after the later of:

(i) the end of the income year in relation to which the choice is made; and

(ii) the commencement of:

(A) if that income year is the 2010-11, 2011-12, 2012-13 or 2013-14 income year - Schedule 2 to the Tax Laws Amendment (2011 Measures No. 5) Act 2011; or

(B) if that income year is the 2014-15, 2015-16 or 2016-17 income year - Schedule 8 to the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016; and

(b) can only be made in writing; and

(c) can only be made in relation to the following income years:

(i) the 2010-11 income year;

(ii) the 2011-12 income year;

(iii) the 2012-13 income year;

(iv) the 2013-14 income year;

(v) the 2014-15 income year;

(vi) the 2015-16 income year;

(vii) the 2016-17 income year.