Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 276.100

Relationship between section 276-80 and other charging provisions in this Act

             (1)  This section applies if:

                     (a)  an amount is included in the assessable income of a * member of an * AMIT in respect of an income year in respect of the member's interest in the AMIT; and

                     (b)  that amount is so included otherwise than because of the operation of subsection 276-80(2).

             (2)  Reduce the amount included in the assessable income of the * member as mentioned in subsection (1) to the extent (if any) that a corresponding amount is included in the assessable income of the member in respect of the member's interest in the * AMIT because of the operation of subsection 276-80(2).

             (3)  To avoid doubt, this section is subject to section 230-20 (financial arrangements).

Foreign resident members -- taxation of trustee and corresponding tax offset for members



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