Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-25 - PARTICULAR KINDS OF TRUSTS  

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

Subdivision 276-J - Debt-like trust instruments  

Operative provisions

SECTION 276-515   Distribution on debt-like trust instrument could be deductible in working out trust components  

276-515(1)  
If an entity is the holder of a *debt-like trust instrument in relation to an *AMIT, for the purposes of sections 276-265 and 276-270 , treat a distribution to the entity in accordance with the instrument as a *return that the AMIT pays or provides on a *debt interest.

276-515(2)  
For the purposes of subsection (1), disregard the distribution to the extent (if any) that it is referable to any of the following:


(a) *exempt income of the *AMIT;


(b) *non-assessable non-exempt income of the AMIT.


 

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