Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-90
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CONSOLIDATED GROUPS
Division 703
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Consolidated groups and their members
Basic concepts
SECTION 703-25
703-25
Australian residence requirements for trusts
A trust described in an item of the table must meet the requirements specified in the item to be able to be a * subsidiary member of a * consolidated group or a * consolidatable group at a time in an income year:
View history note
Hide history noteA trust described in an item of the table must meet the requirements specified in the item to be able to be a * subsidiary member of a * consolidated group or a * consolidatable group at a time in an income year:
| Australian residence requirements for trusts | ||
| Item | A trust of this kind: | Can be a member of a consolidated group or consolidatable group only if these requirements are met: |
| 1 | A trust (except a unit trust) | The trust must be a resident trust estate for the income year for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936 |
| 2 | A unit trust (except a *public trading trust for the income year) | The trust must be:
(a) a resident trust estate for the income year for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936 ; and (b) a *resident trust for CGT purposes for the income year |
| 3 | A *public trading trust for the income year | The trust must be a *resident unit trust for the income year |
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