Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 195.135

  (1)   This section sets out how to apply Division   276 to a trust that is a * CCIV sub - fund trust.

Determining whether the trust is an attribution managed investment trust (AMIT)

  (2)   In applying section   276 - 10 to the trust, disregard the following provisions:

  (a)   paragraph   276 - 10(1)(b);

  (b)   paragraph   276 - 10(1)(e).

Note:   The effect of disregarding paragraph   276 - 10(1)(e) is that the trustee of a * CCIV sub - fund trust does not have a choice as to whether the trust is an AMIT.

Trustee cannot choose to treat classes of membership interests as separate AMITs

  (3)   In applying Division   276 to the trust, disregard section   276 - 20.