INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteThis section has effect for the purposes of subparagraph (c)(i) of the definition of widely held trust in section 160APHD and subparagraph 160APHR(1)(k)(i) .
160APHS(2) [Companies]A company is a prescribed person in relation to a unit trust if:
(a) the company is a non-resident; or
(b) were the company to receive a distribution from the trust, the distribution would be exempt income of the company for the purposes of this Part. 160APHS(3) [Trustees]
A trustee is a prescribed person in relation to a unit trust if:
(a) all the beneficiaries in the trust are prescribed persons under other provisions of this section; or
(b) were the trustee to receive a distribution from the trust, the distribution would be exempt income of the trust estate for the purposes of this Part. 160APHS(4) [Partnerships]
A partnership is a prescribed person in relation to a unit trust if:
(a) all the partners are prescribed persons under other provisions of this section; or
(b) were the partnership to receive a distribution from the trust, the distribution would be exempt income of the partnership for the purposes of this Part. 160APHS(5) [Individuals (not trustees)]
An individual (other than a trustee) is a prescribed person in relation to a unit trust if:
(a) he or she is a non-resident; or
(b) were he or she to receive a distribution from the trust, the distribution would be exempt income of the individual for the purposes of this Part. 160APHS(6) [Commonwealth, States etc]
The Commonwealth, each of the States, the Australian Capital Territory, the Northern Territory and Norfolk Island are prescribed persons in relation to a unit trust.
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