Income Tax Assessment Act 1936

SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS  

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Division 266 - Income tax consequences for fixed trusts of abnormal trading or change in ownership  

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Subdivision 266-A - Overview of this Division  

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SECTION 266-5   WHAT THIS DIVISION IS ABOUT  

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This Division is about the income tax consequences, for various kinds of fixed trusts, of certain events:

  • • for an ordinary fixed trust, the event is a change in ownership (subject to a non-fixed trust exception);
  • • for an unlisted widely held trust, the event is an abnormal trading in its units, or the end of an income year, together with a change in ownership;
  • • for a listed widely held trust, the event is an abnormal trading in its units, together with a change in ownership and business;
  • • for an unlisted very widely held trust or a wholesale widely held trust, the event is an abnormal trading in its units, together with a change in ownership.
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