Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 195 - Special types of company  

Subdivision 195-C - Corporate collective investment vehicles  

Operative provisions

SECTION 195-105   Effect of this Subdivision  

195-105(1)    
This Subdivision has effect for the purposes of all * taxation laws, to the exclusion of those laws as they would otherwise apply in relation to * CCIVs and their members (in their capacity as such).

Note:

Subsection (3) excludes some taxation laws from this subsection.

195-105(2)    
Without limiting the generality of subsection (1) , the purposes referred to in that subsection include how * taxation laws apply in relation to other entities, in so far as that application is affected by the application of those laws in relation to * CCIVs and their members (in their capacity as such).

Note:

For example, in applying subsection 318(1) of the Income Tax Assessment Act 1936 to determine whether a CCIV is an associate of a natural person for the purposes of a provision affecting the income tax payable by that person:

(a) paragraph 318(1)(d) of that Act (providing for when a trustee of a trust is an associate of the natural person) would apply; and

(b) paragraph 318(1)(e) of that Act (providing for when a company is an associate of the natural person) would not apply.

195-105(3)    
Subsections (1) and (2) do not apply to the following * taxation laws:

(a)    the Foreign Acquisitions and Takeovers Act 1975 ;

(b)    legislative instruments made under that Act.