INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-25 - PARTICULAR KINDS OF TRUSTS  

Division 276 - Australian managed investment trusts: attribution managed investment trusts  

Subdivision 276-G - Shortfall and excess taxation  

Guide to Subdivision 276-G

SECTION 276-400   What this Subdivision is about  


The trustee of an AMIT is liable to pay income tax on certain amounts reflecting under-attribution of income or over-attribution of tax offsets.


TABLE OF SECTIONS
TABLE OF SECTIONS
Ensuring determined trust components are properly taxed
276-405 Trustee taxed on shortfall in determined member component (character relating to assessable income)
276-410 Trustee taxed on excess in determined member component (character relating to tax offset)
276-415 Trustee taxed on amounts of determined trust component that are not reflected in determined member components
Ensuring unders and overs are properly taxed
276-420 Trustee taxed on amounts of under of character relating to assessable income not properly carried forward
276-425 Trustee taxed on amounts of over of character relating to tax offset not properly carried forward
Commissioner may remit tax under this Subdivision
276-430 Commissioner may remit tax under this Subdivision


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