Debt-like trust instruments
Complete this label to report debt-like trust instruments (Subdivision 276-J).
Total deductions claimed for returns paid
If the trustee has issued debt-like instruments to which Subdivision 276-J of the ITAA 1997 applies, those instruments are treated as debt interests (as defined in the ITAA 1997) issued by the AMIT. Distributions on the debt-like instruments are treated as returns that the AMIT pays or provides on a debt interest and you may be entitled to claim a deduction for distributions paid to holders of the instrument. Take these deductions into account in determining the trust components of characters relating to assessable income.
You can't claim a deduction for a distribution to the extent it relates to exempt income or NANE income of the AMIT.
Write the amount of deductions claimed for distributions paid to holders of debt-like instruments issued by the AMIT.
Division 6C amounts
Complete the following items to report Division 6C amounts.
Main category of eligible investment business
Select the main category of eligible investment business from the category list.
See section 102M of the ITAA 1936 for the meaning of eligible investment business.
Choose the most appropriate category from the list in section 102M.
Total amount of eligible investment business income
Write the total amount of eligible investment business income.
Application of the safe harbour rules
Consider the 3 questions to apply the safe harbour rules:
Question 1
Was the AMIT a public unit trust as defined in section 102P of the ITAA 1936?
The definition of public unit trust in section 102P has been amended for income years starting on or after 1 July 2016. A trust is not a public unit trust merely because 20% or more of the interests in the trust are held by complying superannuation entities or tax-exempt entities that are entitled to a refund of franking credits. From income years starting on or after 1 July 2016, some AMITs are no longer public unit trusts.
The following 2 safe harbour questions need to be considered:
- if the AMIT is a public unit trust – in considering whether the AMIT is not a public trading trust
- if the AMIT is not a public unit trust – in considering whether the AMIT meets the MIT criteria to not be a trading trust.
If the AMIT is not a public unit trust as defined in section 102P, the trustees still need to consider the safe harbour questions.
These questions are relevant to Managed Investment Trust (MIT) criteria (even if in that case the trust is not a public trading trust).
Question 2
Did the trust rely on the rental safe harbour rule in subsection 102MB(2) of the ITAA 1936?
If the AMIT relied on this safe harbour answer Yes. Otherwise answer No.
Subsection 102MB(2) provides a 25% safe harbour allowance for non-rental, non-trading income from investments in land.
Question 3
Did the trust rely on the 2% non-eligible investment business safe harbour in section 102MC of the ITAA 1936?
If the AMIT relied on this safe harbour answer Yes. Otherwise answer No.
If you answered Yes, select the percentage of income from activities other than an eligible investment business:
- 0% to 0.50%
- over 0.50% up to 1.00%
- over 1.00% up to 1.50%
- over 1.50% up to 2.00%.
Section 102MC provides a 2% safe harbour allowance at the whole of trust level for non-trading income to reduce the scope for inadvertent minor breaches of the Division 6C eligible investment business rules.
Payments from related entities
Did the trust receive payments from related entities during the income year?
Payments from related entities are known as a related party transactions.
Answer Yes or No as appropriate.
If you answer Yes, enter the total amount of those payments.
For the purpose of this question, a related party transaction is one that meets the definition of that term in Accounting Standard AASB 124 Related Party Disclosures (PDF 1.1MB)This link will download a file
Continue to: Statement of attribution for non-withholding MITs
Return to: Instructions to complete the AMIT tax return 2025