Income Tax Assessment Act 1936


Division 266 - Income tax consequences for fixed trusts of abnormal trading or change in ownership  

Subdivision 266-B - Effect of change in ownership of fixed trust  


Type of trust to which this section applies

This section applies to a trust that:

(a) can deduct in the income year a tax loss from a loss year; and

(b) was a fixed trust at all times in the period (the test period ) from the beginning of the loss year until the end of the income year; and

(c) was not a widely held unit trust at all times in the test period; and

(d) was not an excepted trust at all times in the test period.

To find out the meaning of fixed trust : see section 272-65 .

To find out the meaning of widely held unit trust : see section 272-105 .

To find out the meaning of excepted trust : see section 272-100 .

Condition for deducting tax loss

The trust cannot deduct the tax loss unless it meets either:

  • · the condition in section 266-40 ; or
  • · the conditions in section 266-45 .


    Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

    CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

    The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.