Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 (53 of 2016)
Schedule 5 20% tracing rule and repeal of Division 6B
Part 3 Amendments consequential on the repeal of Division 6B
International Tax Agreements Act 1953
71 Subsection 3(1) (definition of prescribed trust estate)
Repeal the definition, substitute:
prescribed trust estate , in relation to a year of income, means a trust estate that is a public trading trust, within the meaning of Division 6C of Part III of the Income Tax Assessment Act 1936, in relation to the year of income.