Document ID: chunk:federal_register_of_legislation:C2019C00124:clause:3_2
Version: federal_register_of_legislation:C2019C00124
Segment Type: clause
Provision Reference: sch 3 cl 2
Character Range: 87643–88664

2  After subsection 840‑805(4C)
Insert:

Modification—AMITs
 (4D) If the *managed investment trust mentioned in paragraph (2)(a), (3)(b) or (4)(b) is an *AMIT for the income year mentioned in that paragraph:
 (a) if paragraph (2)(a) applies—disregard the phrase "(but not a beneficiary in the capacity of a trustee of another trust)" in paragraph (2)(c); or
 (b) if paragraph (3)(b) applies—disregard the phrase "(but not a beneficiary in the capacity of a trustee of another trust)" in paragraph (3)(c); or
 (c) if paragraph (4)(b) applies—disregard paragraph (4)(c).
 (4E) If:
 (a) a trustee of a trust is liable to pay income tax on a fund payment part (a taxed part) because of the operation of subsection (4D); and
 (b) you are a beneficiary of the trust and are presently entitled to a share of the income or capital of the trust;
then, in working out for the purposes of paragraph (4)(b) whether all or part of that share is reasonably attributable to a payment that is a *fund payment, disregard the taxed part.