Document ID: chunk:federal_register_of_legislation:C2025C00029:section:11:p9
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 11 (pt 9/64)
Character Range: 3316772–3319558

back to an income year during which the partnership was a *VCLP, an *ESVCLP, an *AFOF or a *VCMP.

195‑75  Determinations to take account of income years of less than 12 months
 (1) The Commissioner may, by legislative instrument, make a determination modifying the operation of one or more provisions of this Act in relation to limited partnerships whose accounting periods commence or end under section 18A of the Income Tax Assessment Act 1936.
 (2) A determination can only be made in order to take account of the fact that such accounting periods are of less than 12 months' duration.

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