Document ID: chunk:federal_register_of_legislation:C2019C00124:clause:1_1:p9
Version: federal_register_of_legislation:C2019C00124
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 9/27)
Character Range: 27833–30570

for discount capital gain
 (7) Subsection (8) applies if a *determined member component is of the character of:
 (a) a *discount capital gain from a *CGT asset that is *taxable Australian property; or
 (b) a discount capital gain from a CGT asset that is not taxable Australian property.
 (8) For the purposes of this section, treat the amount of the component as being double what it would be apart from this subsection.

276‑110  Refundable tax offset for foreign resident member—member that is not a trustee
 (1) This section applies if a trustee is assessed and liable to pay income tax under section 276‑105 in respect of a *member because of paragraph 276‑105(2)(a) or (b).
 (2) The *member is entitled to a *tax offset for the income year equal to the tax paid by the trustee in accordance with subsection 276‑105(2).
Note: The tax offset is subject to the refundable tax offset rules: see section 67‑23.

Special rule for interposed custodian

276‑115  Custodian interposed between AMIT and member
 (1) This section applies if:
 (a) a trust that is a *custodian is a *member of an *AMIT in respect of an income year; and
 (b) the custodian has, for the income year, a *determined member component of a particular character for the AMIT; and
 (c) the custodian is interposed between the AMIT and another entity (the subsequent recipient); and
 (d) the subsequent recipient:
 (i) starts to have, at a time in the income year, an entitlement to an amount that is reasonably attributable to all or part of the determined member component; or
 (ii) would start to have, at a time in the income year, such an entitlement if the determined member component were an actual payment of an amount.
 (2) For the purposes of this Subdivision, reduce the *custodian's *determined member component by the amount of the entitlement mentioned in subparagraph (1)(d)(i) or (ii).
Note: This subsection may operate to reduce the amount of the determined member component multiple times if there is more than one subsequent recipient in respect of which the requirements in paragraphs (1)(c) and (d) are satisfied.
 (3) For the purposes of this Subdivision:
 (a) treat the subsequent recipient as being a *member of the *AMIT in respect of the income year; and
 (b) treat the subsequent recipient as having, for the income year, a *determined member component for the AMIT that:
 (i) is of the character mentioned in paragraph (1)(b); and
 (ii) is equal to the amount of the entitlement mentioned in subparagraph (1)(d)(i) or (ii).

Subdivision 276‑D—Member components

Guide to Subdivision 276‑D

276‑200  What this Subdivision is about

      A member's member component of a particular character is so much of an AMIT's determined trust component