Income Tax Assessment Act 1936
View history note
Hide history noteIf:
(a) apart from this Subdivision, a trust is an unlisted widely held trust, an unlisted very widely held trust or a wholesale widely held trust; and
(b) each of one or more trusts of a higher level (see subsection (3)) has, directly or indirectly, fixed entitlements to all of the income and capital of the trust;
the trust is instead a trust of the same kind (see subsection (2)) as the trust of the highest level.
272-127(2)
For the purposes of this Subdivision, trusts are of the following kinds:
(a) unlisted widely held trust;
(b) unlisted very widely held trust;
(c) wholesale widely held trust;
(d) listed widely held trust.
272-127(3)
The kinds of trust are allocated levels in the following order (from lowest to highest): unlisted widely held trust, unlisted very widely held trust, wholesale widely held trust and listed widely held trust.
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