Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p18
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 18/80)
Character Range: 4386021–4388764

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
 (b) state the following matters:
 (i) the income year to which the choice relates;
 (ii) what the *member considers to be the member's *member component of that character for the income year;
 (iii) the reason why the member considers that the *determined member component of that character for the income year does not accord with subsections 276‑210(2), (3) and (4).
 (6) The way the *member's *income tax return is prepared is sufficient evidence of the making of the choice.
 (7) The notice must:
 (a) be in writing; and
 (b) state the matters mentioned in paragraph (5)(b).

276‑210  Meaning of member component
 (1) This section applies to a *member of an *AMIT in respect of an income year and sets out how to work out the member's *member components for the year.

Meaning of member component
 (2) The *member's member component of a character is so much of the *AMIT's *determined trust component of that character as is attributable to the *membership interests in the AMIT held by the member, worked out in accordance with the requirements in subsections (3) and (4).

Attribution must be fair and reasonable and accord with constituent documents
 (3) The attribution must be worked out on a fair and reasonable basis, in accordance with the constituent documents of the *AMIT. This requirement is