Income Tax Assessment Act 1997



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

Subdivision 276-A - What is an attribution managed investment trust?  

Operative provisions

SECTION 276-10   Meaning of attribution managed investment trust (or AMIT )  

A trust is an attribution managed investment trust (or AMIT ) for an income year if:

(a) the trust is a *managed investment trust in relation to the income year; and

(b) the rights to income and capital arising from each of the *membership interests in the trust are clearly defined (see section 276-15 ) at all times when the trust is in existence in the income year; and

(c) (Repealed by No 15 of 2019)

(d) if the regulations specify criteria for the purposes of this paragraph - those criteria are satisfied in relation to the trust; and

(e) either:

(i) the trustee of the trust has made a choice for the purposes of this subparagraph in respect of that income year; or

(ii) the trust was an AMIT for an earlier income year.

A choice for the purposes of subparagraph (1)(e)(i) cannot be revoked.


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