Document ID: chunk:federal_register_of_legislation:C2019C00124:clause:1_1:p10
Version: federal_register_of_legislation:C2019C00124
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 10/27)
Character Range: 30281–33138

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 of that character (see Subdivision 276‑E) as is attributable to membership interests held by the member, worked out in accordance with certain requirements.
      A member's determined member component of a particular character is the amount stated to be the member's member component of that character in an AMMA statement (see Subdivision 276‑H).

Table of sections

Member‑level concepts
276‑205 Meaning of determined member component
276‑210 Meaning of member component

Member‑level concepts

276‑205  Meaning of determined member component
 (1) The determined member component of a particular character for an income year of a *member of an *AMIT in respect of the income year is the amount of the member's *member component of that character as reflected in the AMIT's latest *AMMA statement for the member for the income year.
 (2) Subsection (3) applies if:
 (a) the *member makes a choice for the purposes of this paragraph that complies with subsection (5); and
 (b) the member gives a copy of the choice to the Commissioner within 4 months after:
 (i) unless subparagraph (ii) applies—the end of the member's income year; or
 (ii) if the *AMIT gives the member a revised *AMMA statement for the income year at a time after the end of that income year—that time; and
 (c) the member gives a notice of the choice, in accordance with subsection (7), to the trustee of the AMIT within those 4 months.
 (3) Despite subsection (1), if the *determined member component of that character for the income year (disregarding this subsection) does not accord with subsections 276‑210(2), (3) and (4), that determined member component is instead the member's *member component of that character for the income year.
 (4) For the purposes of subsection (3), in working out the member's *member component of that character for the income year, if the *trust component of that character differs from the *determined trust component of that character, treat the references in section 276‑210 to determined trust component as instead being references to trust component.
Example: The determined trust component exceeds the trust component because of an unintentional mistake by the trustee of the AMIT. As a result, a member's corresponding determined member component under subsection (1) exceeds what it would have been if the trustee had not made the mistake.
 If the member makes a choice under subsection (2), the amount of the determined member component will be determined according to the amount of the trust component.
 (5) The choice must:
 (a) be in writing; and