Income Tax Assessment Act 1997



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

Subdivision 276-F - Unders and overs  

Adjustment of trust component for unders and overs etc.

SECTION 276-320  

276-320   Meaning of trust component deficit  

If the amount of the *trust component, worked out after applying sections 276-305 , 276-310 and 276-315 (and, if applicable, section 276-325 ), falls short of nil:

(a) despite those provisions, the *trust component of that character is nil; and

(b) the shortfall is the *AMIT ' s trust component deficit of that character for the income year.


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