Income Tax Assessment Act 1936
PART III
-
LIABILITY TO TAXATION
Division 6C
-
Income of certain public trading trusts
A trustee of a unit trust that would, apart from this section, carry on a trading business at a time during a year of income is taken for the purposes of this Division not to carry on a trading business at a time during that year if, for that year, not more than 2% of the gross revenue of the trustee (as trustee of the unit trust) was income from things other than eligible investment business (except from the carrying on of a business that is not incidental and relevant to the eligible investment business).
SECTION 102MC
102MC
WHEN TRADING BUSINESS NOT CARRIED ON
A trustee of a unit trust that would, apart from this section, carry on a trading business at a time during a year of income is taken for the purposes of this Division not to carry on a trading business at a time during that year if, for that year, not more than 2% of the gross revenue of the trustee (as trustee of the unit trust) was income from things other than eligible investment business (except from the carrying on of a business that is not incidental and relevant to the eligible investment business).
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.