Income Tax Assessment Act 1997
The object of this section is to adjust an *AMIT ' s *trust component of a particular character for an income year to take account of any *unders or *overs of that character that the AMIT has in the income year. Unders increase trust component 276-305(2)
If the *AMIT has an *under of that character in the income year (relating to any earlier income year), increase the amount of the *trust component by that under.
Those earlier income years are referred to in section 276-345 as base years.Overs decrease trust component 276-305(3)
If the *AMIT has an *over of that character in the income year (relating to any earlier income year), decrease the amount of the *trust component by that over.
Those earlier income years are referred to in section 276-345 as base years.
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