Document ID: chunk:federal_register_of_legislation:C2004A00588:clause:1_29
Version: federal_register_of_legislation:C2004A00588
Segment Type: clause
Provision Reference: sch 1 cl 29
Character Range: 15782–16354

29  After subsection 71(1)
Insert:

Widely held trust

 (1A) For the purposes of paragraph (1)(h), a trust is a widely held unit trust if:
 (a) it is a unit trust in which entities have fixed entitlements to all of the income and capital of the trust; and
 (b) it is not a trust in which fewer than 20 entities between them have:
 (i) fixed entitlements to 75% or more of the income of the trust; or
 (ii) fixed entitlements to 75% or more of the capital of the trust.
For this purpose, an entity and the Part 8 associates of the entity are taken to be a single entity.