Income Tax Assessment Act 1997



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

Subdivision 276-G - Shortfall and excess taxation  

Ensuring determined trust components are properly taxed

SECTION 276-405   Trustee taxed on shortfall in determined member component (character relating to assessable income)  

Income character shortfall

An *AMIT has a shortfall under this subsection for an income year equal to the amount (if any) by which:

(a) the *determined member component of a *member of the AMIT of a character relating to assessable income for the income year;

falls short of:

(b) the *member component of the member of that character for the income year.

Liability to tax

The trustee is liable to pay income tax at the rate declared by the Parliament on the amount that is the sum of each shortfall of the *AMIT under subsection (1) for the income year.


The rate is set out in subsection 12(11) of the Income Tax Rates Act 1986 .


Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.