Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p8
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 8/80)
Character Range: 4360983–4363746

income for the income year; and
 (b) the managed investment trust is a party to the *scheme mentioned in paragraph 275‑610(1)(a) at a time in the income year in which the amount is derived; and
 (c) at least one of the parties to that scheme is not a managed investment trust in relation to the income year.
 (1A) Disregard paragraphs (1)(b) and (c) if the amount of *non‑arm's length income is *excepted MIT CSA income.

Determination does not form part of assessment
 (2) A determination under subsection (1) does not form part of an assessment.

Notice by Commissioner of determination
 (3) If the Commissioner makes a determination under subsection (1), the Commissioner must give a copy of the determination to the *managed investment trust concerned.

Evidence of determination
 (4) The production of:
 (a) a notice of a determination; or
 (b) a document signed by the Commissioner, a Second Commissioner or a Deputy Commissioner purporting to be a copy of a determination;
is:
 (c) conclusive evidence of the due making of the determination; and
 (d) conclusive evidence that the determination is correct (except in proceedings under Part IVC of the Taxation Administration Act 1953 on an appeal or review relating to the determination).

Objections
 (5) If an entity to whom a determination relates is dissatisfied with the determination, the entity may object against it in the manner set out in Part IVC of the Taxation Administration Act 1953.

Division 276—Australian managed investment trusts: attribution managed investment trusts

Table of Subdivisions
 Guide to Division 276
276‑A What is an attribution managed investment trust?
276‑B Member's vested and indefeasible interest in share of income and capital of AMIT
276‑C Taxation etc. of member components
276‑D Member components
276‑E Trust components
276‑F Unders and overs
276‑G Shortfall and excess taxation
276‑H AMMA statements
276‑J Debt‑like trust instruments
276‑K Ceasing to be an AMIT

Guide to Division 276

276‑1  What this Division is about

      A managed investment trust in relation to an income year is an attribution managed investment trust (or AMIT) for the income year if certain criteria are satisfied. In particular, for the trust to be an AMIT, the interests of the members of the trust need to be clearly defined at all times during which the trust is in existence in the income year (see Subdivision 276‑A).
      An AMIT for an income year is treated as a fixed trust. A member of the AMIT in respect of the income year is treated as having a vested and indefeasible interest in a share of the income and capital of the AMIT throughout the income year (see Subdivision 276‑B).
      Amounts related to income and tax offsets of an AMIT, determined by the trustee to