Private ruling: Clean building managed investment trust
Date of advice: 25 May 2021
Published: August 2021
Ruling period: 1 July 20XX to 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will Trust A be a clean building managed investment trust within the meaning of section 12-425 of Schedule 1 to the Taxation Administration Act 1953? | A1: Yes.

Relevant facts and circumstances: Trust A has X unit holders who are covered by subsection 275-20(4) of the Income Tax Assessment Act 1997 . Trust A is the registered proprietor of an estate in fee simple in land in Australia. There is an office building on the land. The trustee of Trust A is a company incorporated in Australia. Trust A is covered by section 275-15 of the ITAA 1997 and satisfies the licensing requirements in section 275-35 of the ITAA 1997. Trust A is not registered under section 601EB of the Corporations Act 2001 . All of the investment management activities carried out in relation to Trust A in respect of the land are carried out in Australia. During the period to which this Private Ruling applies, the building on the Property will maintain at all times at least a 5 Star Green Star rating as certified by the Green Building Council of Australia.

Relevant legislative provisions: Taxation Administration Act 1953 section 12-425 of Schedule 1

Reasons for decision: Summary: Trust A satisfies the requirements to qualify as a 'clean building managed investment trust' within the meaning of section 12-425 of Schedule 1 to the TAA 1953.