INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-25 - PARTICULAR KINDS OF TRUSTS  

Division 276 - Australian managed investment trusts: attribution managed investment trusts  

Subdivision 276-F - Unders and overs  

Adjustment of trust component for unders and overs etc.

SECTION 276-320   276-320   Meaning of trust component deficit  


If the amount of the *trust component, worked out after applying sections 276-305 , 276-310 and 276-315 (and, if applicable, section 276-325 ), falls short of nil:


(a) despite those provisions, the *trust component of that character is nil; and


(b) the shortfall is the *AMIT ' s trust component deficit of that character for the income year.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.