Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 276.5

What this Subdivision is about

A managed investment trust in relation to an income year is an attribution managed investment trust (or AMIT ) for the income year if certain criteria are satisfied. In particular:

       (a)     the interests of the members of the trust need to be clearly defined at all times when the trust is in existence in the income year; and

      (b)     the trustee of the trust needs to have made a choice for the trust to be an AMIT in respect of that income year or an earlier income year.

Table of sections

Operative provisions

276-10      Meaning of attribution managed investment trust (or AMIT )

276-15      Clearly defined interests

276-20      Trust with classes of membership interests--each class treated as separate AMIT

Operative provisions



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