Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 276.15

  (1)   Without limiting the circumstances in which the rights to income and capital arising from the * membership interests in a trust are clearly defined for the purposes of paragraph   276 - 10(1)(b), treat such rights as being clearly defined at a particular time for those purposes if any of the following conditions are satisfied at that time:

  (a)   the trust is registered under section   601EB of the Corporations Act 2001 ;

  (b)   the rights to income and capital arising from each of the membership interests in the trust are the same.

  (2)   For the purposes of working out whether the condition in paragraph   (1)(b) is satisfied, disregard the following:

  (a)   fees or charges imposed by the trustee on the * members of the trust;

  (b)   issue and redemption prices of * membership interests in the trust;

  (c)   exposure of the membership interests in the trust to foreign exchange gains and losses.