Income Tax Assessment Act 1997
This Subdivision applies to:
(a) the entity that has the beneficial interest in an *instalment trust asset as the beneficiary of an *instalment trust; and
(b) the trustee of the instalment trust. 235-815(2)
This Subdivision applies for the purposes of this Act, apart from:
(a) Part VA of the Income Tax Assessment Act 1936 (which is about tax file numbers); and
(b) Subdivisions 12-E , 12-F and 12-H in Schedule 1 to the Taxation Administration Act 1953 (which are about PAYG withholding). Joint investments 235-815(3)
This Subdivision applies in relation to 2 or more entities that hold an interest in a trust as joint tenants, or as tenants in common, in the same way it applies in relation to a single entity that holds such an interest.
Each investor that is treated by this Subdivision as jointly owning an instalment trust asset is treated for CGT purposes as owning a separate asset: see section 108-7 .
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