Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2:p32
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2 (pt 32/41)
Character Range: 4319460–4322264

income of the holder of the interests. The holder is entitled to a deduction from losses from such interests (see Subdivision 275‑C).

Subdivision 275‑A—Meaning of managed investment trust

Guide to Subdivision 275‑A

275‑5  What this Subdivision is about
      This Subdivision sets out the requirements for a trust to be a managed investment trust in relation to an income year.

Table of sections

Operative provisions
275‑10 Meaning of managed investment trust
275‑15 Trusts with wholesale membership
275‑20 Widely‑held requirements—ordinary case
275‑25 Widely‑held requirements for registered MIT—special case for entities covered by subsection 275‑20(4)
275‑30 Closely‑held restrictions
275‑35 Licensing requirements for unregistered MIS
275‑40 MIT participation interest
275‑45 Meaning of managed investment trust—every member of trust is a managed investment trust etc.
275‑50 Extended definition of managed investment trust—no fund payment made in relation to the income year
275‑55 Extended definition of managed investment trust—temporary circumstances outside the control of the trustee

Operative provisions

275‑10  Meaning of managed investment trust
 (1) A trust is a managed investment trust in relation to an income year if any of the following requirements are met:
 (a) the trust is covered under subsection (3) of this section in relation to the income year (ordinary case);
 (b) the trust is covered under section 275‑45 in relation to the income year (only members of trust are managed investment trusts etc.).
 (2) A trust is also a managed investment trust in relation to an income year if any of the following requirements are met:
 (a) the trust is covered under section 275‑50 in relation to the income year (no fund payment made in relation to the income year);
 (b) the trust is covered under section 275‑55 in relation to the income year (temporary circumstances outside the control of the trustee).
 (3) A trust is covered under this subsection in relation to an income year if:
 (a) at the time the trustee of the trust makes the first *fund payment in relation to the income year, or at an earlier time in the income year:
 (i) the trustee of the trust was an Australian resident; or
 (ii) the central management and control of the trust was in Australia; and
 (b) the trust is not a trust covered by subsection (4) (trading trust etc.) in relation to the income year; and
 (c) at the time the payment is made, the trust is a managed investment scheme (within the meaning of section 9 of the Corporations Act 2001); and
 (d) at the time the payment is made:
 (i) the trust is covered by section 275‑15 (trusts with wholesale membership); or
 (ii) if the trust is not covered by section 275‑15—the trust is registered under section 601EB of the Corporations Act 2001; and