Document ID: chunk:federal_register_of_legislation:C2025C00014:section:102m:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 102M (pt 2/2)
Character Range: 829911–831440

unit, in relation to a prescribed trust estate, includes a beneficial interest, however described, in any of the income or property of the trust estate.
unitholder, in relation to a prescribed trust estate, means the holder of a unit or units in the prescribed trust estate.
unit trust dividend means:
 (a) any distribution made by the trustee of a prescribed trust estate, whether in money or in other property, to a unitholder; and
 (b) any amount credited by the trustee of a prescribed trust estate to a unitholder as a unitholder;
but does not include:
 (c) money paid or credited, or property distributed, by the trustee of a prescribed trust estate to the extent to which the money or property is attributable to profits arising during a year of income in relation to which the prescribed trust estate was not a public trading trust; or
 (d) money paid or credited, or property distributed, by the trustee of a prescribed trust estate in respect of the cancellation, extinguishment or redemption of a unit to the extent to which:
 (i) the money paid or credited or the property distributed represents money paid to, or property transferred to, the trustee for the purpose of the creation or issue of that unit; and
 (ii) the amount of the money paid or credited or the value of the property distributed, as the case may be, does not exceed the amount of the money paid to the trustee, or the value, at the time of transfer, of the property transferred to the trustee, for the purpose of the creation or issue of that unit.