Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 195 - Special types of company  

Subdivision 195-C - Corporate collective investment vehicles  

Operative provisions

SECTION 195-130   Application of Division 275 (managed investment trusts) to a CCIV sub-fund trust  

195-130(1)    
This section sets out how to apply Division 275 to a trust that is a *CCIV sub-fund trust.

Determining whether the trust is a managed investment trust

195-130(2)    
Section 275-10 has effect in relation to the trust as if the following paragraph were substituted for paragraph 275-10(3)(c) :

(c)    at the time the payment is made, the *sub-fund is being used for collective investment by pooling the contributions of the *members of the sub-fund as consideration to acquire rights to benefits produced from those contributions; and

195-130(3)    
In applying section 275-10 to the trust, disregard the following provisions:

(a)    paragraph 275-10(3)(d) ;

(b)    paragraph 275-10(3)(g) .

195-130(4)    
Section 275-10 has effect in relation to the trust as if the following paragraph were substituted for paragraph 275-10(3)(e) :

(e)    the trust satisfies, in relation to the income year:

(i) if, at the time the payment is made, the trust is covered by section 275-15 - either or both of the widely-held requirements in subsection 275-20(1) and 275-25(1) ; or

(ii) if, at the time the payment is made, the trust is not covered by section 275-15 - either or both of the widely-held requirements in subsections 275-20(2) and 275-25(1) ; and

Determining whether the trust is a trust with wholesale membership

195-130(5)    
In applying section 275-15 to the trust, disregard paragraph 275-15(a) .

Determining whether the trust satisfies the widely-held requirements

195-130(6)    
In applying section 275-45 to the trust, disregard paragraph 275-45(1)(d) .