Income Tax Assessment Act 1997



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

Subdivision 276-C - Taxation etc. of member components  

Guide to Subdivision 276-C

SECTION 276-75   What this Subdivision is about  

Amounts related to income and tax offsets of an AMIT, of a particular tax character, are attributed to members of the AMIT on the basis of their determined member components of that tax character.

This attribution does not apply to the extent that amounts have been withheld etc. in relation to those components under Subdivision 12-F , 12-H or 12A-C in Schedule 1 to the Taxation Administration Act 1953 .

The trustee of an AMIT that is not a withholding MIT may be liable to pay income tax in respect of a determined member component of a foreign resident member (including where that member is acting in the capacity of a trustee). As a result, the member may be entitled to a tax offset.

Taxation etc. of member on determined member components
276-80 Member ' s assessable income or tax offsets for determined member components - general rules
276-85 Member ' s assessable income or tax offsets for determined member components - specific rules
276-90 Commissioner ' s determination as to status of member as qualified person
276-95 Relationship between section 276-80 and withholding rules
276-100 Relationship between section 276-80 and other charging provisions in this Act
Foreign resident members - taxation of trustee and corresponding tax offset for members
276-105 Trustee taxed on foreign resident ' s determined member components
276-110 Refundable tax offset for foreign resident member - member that is not a trustee
Special rule for interposed custodian
276-115 Custodian interposed between AMIT and member


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