Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:5_1:p1
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 5 cl 1 (pt 1/7)
Character Range: 381838–384641

1  At the end of Division 195
Add:

Subdivision 195‑C—Corporate collective investment vehicles

Guide to Subdivision 195‑C

195‑100  What this Subdivision is about

      The business, assets and liabilities of each sub‑fund of a CCIV are taken to constitute the trust estate of a separate trust (a CCIV sub‑fund trust), of which the CCIV is the trustee and the members of the sub‑fund are the beneficiaries.
      This Subdivision sets out further rules to facilitate the CCIV, and the sub‑fund and its members, being taxed on this basis, including:
         • modifications of the rules for determining whether the CCIV sub‑fund trust is a managed investment trust (under Division 275) and an attribution managed investment trust (under Division 276); and
              Note: These modifications also affect whether the trust is a withholding MIT under Subdivision 12‑H in Schedule 1 to the Taxation Administration Act 1953.
         • rules to support the application of Division 6 or 6C of Part III of the Income Tax Assessment Act 1936, to the extent that Division applies to the trust; and
         • rules to support the application to the trust of relevant rules about trust losses and capital gains.

Table of sections

Operative provisions
195‑105 Effect of this Subdivision
195‑110 Each sub‑fund of a CCIV is taken to be a separate trust
195‑115 A CCIV sub‑fund trust is a unit trust
195‑120 Beneficiary of a CCIV sub‑fund trust has fixed entitlements to shares of income and capital of the trust
195‑123 How to work out the income of the trust estate of a CCIV sub‑fund trust for an income year
195‑125 When a beneficiary of a CCIV sub‑fund trust is presently entitled to trust income
195‑127 When a beneficiary of a CCIV sub‑fund trust has an individual interest in exempt income and non‑assessable non‑exempt income of the trust estate
195‑130 Application of Division 275 (managed investment trusts) to a CCIV sub‑fund trust
195‑135 Application of Division 276 (AMITs) to a CCIV sub‑fund trust
195‑140 Entry on Australian Business Register

Operative provisions

195‑105  Effect of this Subdivision
 (1) This Subdivision has effect for the purposes of all *taxation laws, to the exclusion of those laws as they would otherwise apply in relation to *CCIVs and their members (in their capacity as such).
Note: Subsection (3) excludes some taxation laws from this subsection.
 (2) Without limiting the generality of subsection (1), the purposes referred to in that subsection include how *taxation laws apply in relation to other entities, in so far as that application is affected by the application of those laws in relation to *CCIVs and their members (in their capacity as such).
Note: For example, in applying subsection 318(1) of the Income Tax Assessment Act 1936 to determine whether