Document ID: chunk:federal_register_of_legislation:C2025C00014:schedule:2f:p31
Version: federal_register_of_legislation:C2025C00014
Segment Type: schedule
Provision Reference: sch 2F (pt 31/79)
Character Range: 2282237–2284945

trust.
 (2) The partnership's full year deductions are treated as full year deductions of the trust, but only to the extent of the trust's share.
 (3) If the partnership's income year is the same as the trust's, the trust's share is calculated by dividing:
 (a) the trust's interest in the partnership's net income or partnership loss of the income year;
by:
 (b) the amount of that net income or partnership loss;
and expressing the result as a percentage.
 (4) However, if the partnership had neither a net income nor a partnership loss, the trust's share is a percentage that is fair and reasonable having regard to the extent of the trust's interest in the partnership.
 (5) If the partnership's income year does not begin and end at the same time as the trust's income year, the trust's share is a percentage that is fair and reasonable having regard to all relevant circumstances.

Division 269—Concepts and tests applied in Divisions 266 and 267

Subdivision 269‑A—Overview of Division

269‑5  What this Division is about

      This Division explains the following concepts or tests that are used in preceding Divisions of this Schedule:
         • abnormal trading;
         • 50% stake test etc.;
         • pattern of distributions test;
         • control;
         • business continuity test.

Subdivision 269‑B—Abnormal trading

269‑10  Trading
  A trading in units in a unit trust occurs if there is an issue, redemption or transfer of, or other dealing in, the units.

269‑15  Abnormal trading—general
 (1) There is an abnormal trading in units in a unit trust if there is a trading in the units that is abnormal having regard to all relevant factors, including:
 (a) the timing of the trading, when compared to the normal timing for trading in its units; and
 (b) the number of units traded, when compared to the normal number of units traded; and
 (c) any connection between the trading and any other trading in units in the trust; and
 (d) any connection between the trading and a tax loss or other deduction of the trust.
 (2) There may also be an abnormal trading under any of the following provisions.

269‑20  Abnormal trading—suspected acquisition or merger
  There is an abnormal trading in units in a unit trust if a trading occurs in its units that the trustee knows or reasonably suspects is part of an acquisition of the trust or merger of the trust with another trust.

269‑25  Abnormal trading—5% of units in a single transaction
  There is an abnormal trading in units in a unit trust (other than a wholesale widely held trust) if 5% or more of the units are traded in one transaction.

269‑30  Abnormal trading—suspected 5% of units in a series of transactions
 (1) There is