Document ID: chunk:federal_register_of_legislation:C2016C00501:clause:5_1
Version: federal_register_of_legislation:C2016C00501
Segment Type: clause
Provision Reference: sch 5 cl 1
Character Range: 16002–17082

1  Before section 275‑15
Insert:

275‑5  Treatment of trading trusts etc.
  For the purposes of this Division, treat a trust in the same way as a *managed investment trust in relation to an income year if it would be a managed investment trust in relation to the income year if paragraph 12‑400(2)(a) in Schedule 1 to the Taxation Administration Act 1953 were disregarded.
Note: If a trading trust is treated as a managed investment trust for the purposes of this Division for an income year, sections 275‑100 (CGT to be primary code for calculating MIT gains or losses) and 275‑120 (revenue account treatment) will not apply to the trust for the year (see subsections 275‑100(1), 275‑110(1) and 275‑120(1)).

275‑10  Trust with investment management activities outside Australia
  For the purposes of this Division, treat a trust in the same way as a *managed investment trust in relation to an income year if it would be a managed investment trust in relation to the income year if paragraph 12‑400(1)(c) in Schedule 1 to the Taxation Administration Act 1953 were disregarded.