INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 235 - Particular financial transactions  

Subdivision 235-I - Instalment trusts  

Operative provisions

SECTION 235-825   Meaning of instalment trust and instalment trust asset  

235-825(1)  
A trust is an instalment trust if:


(a) the trust is covered by section 235-830 (about instalment trust arrangements) and satisfies the requirements in section 235-835 (about requirements for underlying investments to be listed or widely held); or


(b) the trust is covered by section 235-840 (about limited recourse borrowings by *regulated superannuation funds).

235-825(2)  
An instalment trust asset is an asset that is, or is part of, the underlying investment of an *instalment trust (as mentioned in section 235-830 or 235-840 , as the case requires).


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