Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 275.50

    A trust is covered under this section in relation to an income year if:

  (a)   the trustee of the trust does not make a * fund payment in relation to the income year; and

  (b)   the trust would be a * managed investment trust in relation to the income year if the trustee of the trust had made the first fund payment in relation to the income year on the first day of the income year when it was in existence; and

  (c)   the trust would be a managed investment trust in relation to the income year if the trustee of the trust had made the first fund payment in relation to the income year on the last day of the income year on which it was in existence.