Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:5_1:p6
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 5 cl 1 (pt 6/7)
Character Range: 393596–396480

entitlement under subsection 195‑120(1).
 (3) Except as provided in this section, a *beneficiary of a *CCIV sub‑fund trust is not taken to have an individual interest in the exempt income, or *non‑assessable non‑exempt income, of the trust estate.

195‑130  Application of Division 275 (managed investment trusts) to a CCIV sub‑fund trust
 (1) This section sets out how to apply Division 275 to a trust that is a *CCIV sub‑fund trust.

Determining whether the trust is a managed investment trust
 (2) Section 275‑10 has effect in relation to the trust as if the following paragraph were substituted for paragraph 275‑10(3)(c):
 (c) at the time the payment is made, the *sub‑fund is being used for collective investment by pooling the contributions of the *members of the sub‑fund as consideration to acquire rights to benefits produced from those contributions; and
 (3) In applying section 275‑10 to the trust, disregard the following provisions:
 (a) paragraph 275‑10(3)(d);
 (b) paragraph 275‑10(3)(g).
 (4) Section 275‑10 has effect in relation to the trust as if the following paragraph were substituted for paragraph 275‑10(3)(e):
 (e) the trust satisfies, in relation to the income year:
 (i) if, at the time the payment is made, the trust is covered by section 275‑15—either or both of the widely‑held requirements in subsection 275‑20(1) and 275‑25(1); or
 (ii) if, at the time the payment is made, the trust is not covered by section 275‑15—either or both of the widely‑held requirements in subsections 275‑20(2) and 275‑25(1); and

Determining whether the trust is a trust with wholesale membership
 (5) In applying section 275‑15 to the trust, disregard paragraph 275‑15(a).

Determining whether the trust satisfies the widely‑held requirements
 (6) In applying section 275‑45 to the trust, disregard paragraph 275‑45(1)(d).

195‑135  Application of Division 276 (AMITs) to a CCIV sub‑fund trust
 (1) This section sets out how to apply Division 276 to a trust that is a *CCIV sub‑fund trust.

Determining whether the trust is an attribution managed investment trust (AMIT)
 (2) In applying section 276‑10 to the trust, disregard the following provisions:
 (a) paragraph 276‑10(1)(b);
 (b) paragraph 276‑10(1)(e).
Note: The effect of disregarding paragraph 276‑10(1)(e) is that the trustee of a *CCIV sub‑fund trust does not have a choice as to whether the trust is an AMIT.

Trustee cannot choose to treat classes of membership interests as separate AMITs
 (3) In applying Division 276 to the trust, disregard section 276‑20.

195‑140  Entry on Australian Business Register
 (1) If a *CCIV sub‑fund trust has an *ABN, the *Australian Business Registrar must enter in the *Australian Business Register in relation to the trust a statement that:
 (a) indicates that the trust is taken to exist for tax purposes because of the application of section 195‑110 to a *sub‑fund of