Income Tax Assessment Act 1936


Division 267 - Income tax consequences for non-fixed trusts of change in ownership or control  

Subdivision 267-C - Current year net income and tax loss, and certain debts incurred in current year  

SECTION 267-60   267-60   TRUST MAY BE REQUIRED TO WORK OUT ITS NET INCOME AND TAX LOSS IN A SPECIAL WAYType of trust to which this Subdivision applies.  

A trust that:

(a) was a non-fixed trust at any time in the income year (the test period ); and

(b) was not an excepted trust at all times in the test period;

must work out its net income and tax loss for the income year under Division 268 (How to work out a trust ' s net income and tax loss for the income year), unless it meets:

  • the condition in subsection 267-70(2) (if applicable); and
  • the condition in section 267-75 .
  • To find out the meaning of excepted trust : see section 272-100 .


    See section 415-25 of the Income Tax Assessment Act 1997 if the trust was a designated infrastructure project entity during part, but not the whole, of the test period.

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