Income Tax (Transitional Provisions) Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-25
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PARTICULAR KINDS OF TRUSTS
This Subdivision applies if:
(a) a managed investment trust becomes an AMIT for the starting income year; and
(b) the trust existed in an earlier income year (the base year ); and
(c) the trust is an AMIT for an income year (the discovery year ) that is the starting income year or a later income year.
Division 276
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Attribution managed investment trusts
Subdivision 276-T
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Becoming an AMIT: unders and overs
SECTION 276-700
276-700
Application of Subdivision to MIT that becomes AMIT
This Subdivision applies if:
(a) a managed investment trust becomes an AMIT for the starting income year; and
(b) the trust existed in an earlier income year (the base year ); and
(c) the trust is an AMIT for an income year (the discovery year ) that is the starting income year or a later income year.
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