INCOME TAX ASSESSMENT ACT 1936

SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS  

Division 269 - Concepts and tests applied in Divisions 266 and 267  

Subdivision 269-B - Abnormal trading  

SECTION 269-30   ABNORMAL TRADING - SUSPECTED 5% OF UNITS IN A SERIES OF TRANSACTIONS  

269-30(1)  
There is an abnormal trading in units in a unit trust (other than a wholesale widely held trust) if the trustee knows or reasonably suspects that a person, or a person and one or more associates of the person, have acquired or redeemed 5% or more of the units in 2 or more transactions and would not have done so if the trust did not have a tax loss or other deduction.

269-30(2)  
For the purposes of other provisions of this Schedule, the abnormal trading occurs at the time of the particular transaction that causes the 5% figure to be exceeded.


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