INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 703 - Consolidated groups and their members  

Basic concepts  

SECTION 703-25   703-25   Australian residence requirements for trusts  


A trust described in an item of the table must meet the requirements specified in the item to be able to be a * subsidiary member of a * consolidated group or a * consolidatable group at a time in an income year:


Graphic
Graphic
Australian residence requirements for trusts
Item A trust of this kind: Can be a member of a consolidated group or consolidatable group only if these requirements are met:
1 A trust (except a unit trust) The trust must be a resident trust estate for the income year for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936
2 A unit trust (except a *public trading trust for the income year) The trust must be:

(a) a resident trust estate for the income year for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936 ; and

(b) a *resident trust for CGT purposes for the income year
3 A *public trading trust for the income year The trust must be a *resident unit trust for the income year


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