ato logo
Search Suggestion:

Attribution managed investment trusts

Last updated 19 July 2021

For 2015–16 and later years, a MIT may choose to apply the attribution rules in Division 276 of the Income Tax Assessment Act 1997. Where that choice is made, the MIT becomes known as an attribution managed investment trust (AMIT).

Generally, those rules apply to 'attribute' amounts to each member based on their interest in the AMIT, rather than a 'present entitlement' to the net income of the trust or the amount actually paid.

The attribution rules ensure that amounts from the trust retain their tax character as they flow through to you. This is so that for taxation purposes it is treated as if you had earned the income directly in your own right. In relation to capital gains, those rules mean you will treat the capital gains component of your trust income as your own capital gain.

These rules also mean that the cost base of your units in an AMIT may have annual upward or downward adjustments.

Your share of trust amounts attributed to you is shown on your member statement, which for an AMIT is called an AMIT member annual statement (AMMA) (similar to the standard distribution statement provided by a managed fund).

Otherwise, for members (unit holders) of an AMIT, there will be little discernible difference to the way income is distributed to you.

See also: