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-C - Taxation etc. of member components  

Taxation etc. of member on determined member components

SECTION 276-95   Relationship between section 276-80 and withholding rules  

276-95(1)  
Subsection 276-80(2) does not apply to the extent that the *determined member component is reflected in an *AMIT DIR payment or a *fund payment, if an amount in respect of the payment:


(a) has been withheld from the payment under Subdivision 12-F or 12-H in Schedule 1 to the Taxation Administration Act 1953 ; or


(b) would be so withheld apart from an exemption from a requirement to withhold under Subdivision 12-F in that Schedule; or


(c) has been paid under Division 12A in that Schedule; or


(d) would be so paid apart from an exemption from a requirement to withhold under Subdivision 12-F in that Schedule.

276-95(2)  
However, if the *determined member component is reflected in a *fund payment, subsection (1) applies only to the extent to which an amount attributable to the fund payment is treated under section 840-815 as not assessable income and not *exempt income.

276-95(3)  
Subsection 276-80(2) does not affect the operation of the following:


(a) Division 11A of Part III of the Income Tax Assessment Act 1936 ;


(b) Subdivision 840-M of this Act;


(c) Division 12 in Schedule 1 to the Taxation Administration Act 1953 .

Note:

See Division 12A in Schedule 1 to the Taxation Administration Act 1953 for provisions about withholding tax that apply specifically to AMITs.


 

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