Income Tax Assessment Act 1936
SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS Division 266 - Income tax consequences for fixed trusts of abnormal trading or change in ownership
cannot deduct a tax loss from an earlier income year; or
has to work out its net income and tax loss for the income year in a special way; or
cannot deduct certain amounts in respect of debts;
Subdivision 266-C - Effect of change in ownership of unlisted widely held trust
SECTION 266-65 WHAT THIS SUBDIVISION IS ABOUT
An unlisted widely held trust:
unless its ownership has been the same after any abnormal trading in its units and at the end of income years, during a certain period.
The exception mentioned in this section applies differently in relation to designated infrastructure project entities: see sections 415-25 and 415-30 of the Income Tax Assessment Act 1997 .
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