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 276-340   Trust component character relating to tax offset - taxation of trust component deficit  

This section applies if:

(a) the *AMIT has a *trust component of a character relating to a *tax offset; and

(b) the character of the trust component is not the character of *foreign income tax paid that counts towards a tax offset under Division 770 ; and

(c) the AMIT has a *trust component deficit for the income year of that character.

Offset trust component deficit (other than FITO character) taxed

The trustee of the *AMIT is liable to pay tax at the rate declared by the Parliament on the amount of the *trust component deficit.


The tax is imposed by the Income Tax (Attribution Managed Investment Trusts - Offsets) Act 2016 and the rate of the tax is set out in that Act.


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