Document ID: chunk:federal_register_of_legislation:C2019C00124:clause:1_1:p12
Version: federal_register_of_legislation:C2019C00124
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 12/27)
Character Range: 35373–38068

limiting the scope of the requirements in subsection (3) and (4), an amount does not fail to be worked out in accordance with those requirements as mentioned in subsection (2) merely because the amount reflects the fact that:
 (a) either:
 (i) an amount of an *under, relating to a base year (as mentioned in subsection 276‑345(1)) increases a *trust component of the *AMIT for a later income year under section 276‑305; or
 (ii) an amount of an *over, relating to a base year (as mentioned in subsection 276‑345(1)) decreases a trust component of the AMIT for a later income year under section 276‑305; and
 (b) an entity is a *member of the AMIT at a time in the later income year, but was not a member of the AMIT in respect of the base year.
 (7) Without limiting the scope of the requirements in subsection (3) and (4), an amount does not fail to be worked out in accordance with those requirements as mentioned in subsection (2) merely because the amount reflects the fact that:
 (a) the trustee made a *capital gain or *capital loss in an income year (for the purposes of working out the amount of a *trust component of the *AMIT for an income year in accordance with the rules in section 276‑265); and
 (b) an entity was a *member of the AMIT in respect of the income year, but was not a member of the AMIT at the time the capital gain or capital loss was made.

Subdivision 276‑E—Trust components

Guide to Subdivision 276‑E

276‑250  What this Subdivision is about

      An AMIT's trust component of a particular character is worked out on the basis of the AMIT's assessable income, exempt income, non‑assessable non‑exempt income and tax offsets (on the assumption that the AMIT were an Australian resident liable to pay tax).
      An AMIT's determined trust component of a particular character is the amount stated to be its trust component of that character in a document that meets certain requirements.

Table of sections

Trust‑level concepts
276‑255 Meaning of determined trust component
276‑260 Meaning of trust component
276‑265 Rules for working out trust components—general rules
276‑270 Rules for working out trust components—allocation of deductions

Trust‑level concepts

276‑255  Meaning of determined trust component
 (1) An *AMIT's determined trust component of a particular character for an income year is the amount stated to be its *trust component of that character in a document that meets the requirements in subsection (2).
 (2) The requirements are as follows:
 (a) the document was created by the *AMIT;
 (b) the document states expressly the amount of the *trust component;
 (c) at a time after the document was created, the AMIT sent *AMMA statements for