INCOME TAX ASSESSMENT ACT 1997 - SECT 276.55 AMIT taken to be fixed trust and member taken to have vested and indefeasible interest in income and capital

Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 276.55

AMIT taken to be fixed trust and member taken to have vested and indefeasible interest in income and capital

For the purposes of this Act:

(a) treat an * AMIT for an income year as a * fixed trust; and

(b) treat an entity that is a * member of the AMIT in respect of the income year as having a vested and indefeasible interest in a share of the income and capital of the AMIT throughout the income year.

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