Income Tax Assessment Act 1936

SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS  

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Division 272 - Interpretation  

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History

Div 272 inserted by No 17 of 1998.

Subdivision 272-E - Excepted trust  

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History

Subdiv 272-E inserted by No 17 of 1998.

SECTION 272-100  

272-100   EXCEPTED TRUST  

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A trust is an excepted trust at a particular time if:

(a) it is a family trust at the particular time; or

(b) it is a complying superannuation fund, a complying approved deposit fund or a pooled superannuation trust in relation to the income year in which the particular time occurs; or

(c) it is the trust of a deceased estate, where the particular time occurs during the period from the death of the individual until the end of the year of income in which the 5th anniversary of the death occurs; or

(d) at the particular time it is a fixed trust that is a unit trust, and exempt entities have fixed entitlements, directly or indirectly, and for their own benefit, to all of the income and capital of the trust; or

(e) (Repealed by No 70 of 2015)

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(f) it is a designated infrastructure project entity at the particular time.

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History

S 272-100 amended by No 70 of 2015, s 3 and Sch 1 item 64, by repealing para (e), effective 1 July 2015. Para (e) formerly read:

(e) it is an FHSA trust at the particular time; or

S 272-100 amended by No 124 of 2013, s 3 and Sch 2 item 1, by inserting para (f), applicable in relation to the 2012-13 income year and later income years.

S 272-100 amended by No 45 of 2008, s 3 and Sch 1 item 7, by inserting para (e), effective 26 June 2008.

S 272-100 amended by No 78 of 2007 , s 3 and Sch 7 item 1, by substituting " exempt entities " for " persons all of whose income is exempt from tax under section 23 , or under Division 50 of the Income Tax Assessment Act 1997 , " in para (d), effective 21 June 2007.

S 272-100 inserted by No 17 of 1998.

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