Income Tax Assessment Act 1997
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Hide history noteSECTION 276-320 276-320 Meaning of trust component deficit
If the amount of the *trust component, worked out after applying sections 276-305 , 276-310 and 276-315 (and, if applicable, section 276-325 ), falls short of nil:
(a) despite those provisions, the *trust component of that character is nil; and
(b) the shortfall is the *AMIT ' s trust component deficit of that character for the income year.
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