INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-25 - PARTICULAR KINDS OF TRUSTS  

Division 275 - Australian managed investment trusts: general  

Subdivision 275-A - Meaning of managed investment trust  

Operative provisions

SECTION 275-50   275-50   Extended definition of managed investment trust - no fund payment made in relation to the income year  
A trust is covered under this section in relation to an income year if:


(a) the trustee of the trust does not make a *fund payment in relation to the income year; and


(b) the trust would be a *managed investment trust in relation to the income year if the trustee of the trust had made the first fund payment in relation to the income year on the first day of the income year when it was in existence; and


(c) the trust would be a managed investment trust in relation to the income year if the trustee of the trust had made the first fund payment in relation to the income year on the last day of the income year on which it was in existence.


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