Document ID: chunk:federal_register_of_legislation:C2025C00029:section:5:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 5 (pt 1/2)
Character Range: 7698339–7701042

5           (a) you are a *transferor trust; and                                                                                                                                                                                                          the income year in which you withdraw your choice.
            (b) the *applicable functional currency of the trust has ceased to be the sole or predominant currency in which the trust keeps its accounts (within the meaning of section 960‑70)

 (2) A withdrawal must be in writing.
 (3) Withdrawing a choice does not prevent you from making a fresh choice under section 960‑60.

Subdivision 960‑E—Entities

Table of sections
960‑100 Entities
960‑105 Certain entities treated as agents

960‑100  Entities
 (1) Entity means any of the following:
 (a) an individual;
 (b) a body corporate;
 (c) a body politic;
 (d) a partnership;
 (e) any other unincorporated association or body of persons;
 (f) a trust;
 (g) a *superannuation fund;
 (h) an *approved deposit fund.
Note: The term entity is used in a number of different but related senses. It covers all kinds of legal person. It also covers groups of legal persons, and other things, that in practice are treated as having a separate identity in the same way as a legal person does.
 (1A) Paragraph (1)(e) does not include a *non‑entity joint venture.
 (2) The trustee of a trust, of a *superannuation fund or of an *approved deposit fund is taken to be an entity consisting of the person who is the trustee, or the persons who are the trustees, at any given time.
Note 1: This is because a right or obligation cannot be conferred or imposed on an entity that is not a legal person.
Note 2: The entity that is the trustee of a trust or fund does not change merely because of a change in the person who is the trustee of the trust or fund, or persons who are the trustees of the trust or fund.
 (3) A legal person can have a number of different capacities in which the person does things. In each of those capacities, the person is taken to be a different entity.
Example: In addition to his or her personal capacity, an individual may be:
• sole trustee of one or more trusts; and
• one of a number of trustees of a further trust.
 In his or her personal capacity, he or she is one entity. As trustee of each trust, he or she is a different entity. The trustees of the further trust are a different entity again, of which the individual is a member.
 (4) If a provision refers to an entity of a particular kind, it refers to the entity in its capacity as that kind of entity, not to that entity in any other capacity.
Example: A provision that refers to a company does not cover a company in a capacity