Income Tax Assessment Act 1997
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Hide history noteSECTION 276-260 Meaning of trust component 276-260(1)
The object of this section is to ensure that an *AMIT ' s amounts of assessable income, *exempt income, *non-assessable non-exempt income and *tax offsets for an income year are allocated, according to their character, into separate components for the purposes of this Act.
276-260(2)
An *AMIT ' s trust component for an income year:
(a) of a character relating to assessable income; or
(b) of a character relating to *exempt income; or
(c) of a character relating to *non-assessable non-exempt income; or
(d) of a character relating to a *tax offset;
is the amount of that character for the income year worked out for the AMIT in accordance with the rules in sections 276-265 and 276-270 .
276-260(3)
This section is subject to Subdivision 276-F (which deals with the effect of *unders and *overs).
276-260(4)
The rules in sections 276-265 and 276-270 apply only for the purposes of determining the amounts of *trust components.
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