Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 276.400

The trustee of an AMIT is liable to pay income tax on certain amounts reflecting under - attribution of income or over - attribution of tax offsets.

Table of sections

Ensuring determined trust components are properly taxed

276 - 405   Trustee taxed on shortfall in determined member component (character relating to assessable income)

276 - 410   Trustee taxed on excess in determined member component (character relating to tax offset)

276 - 415   Trustee taxed on amounts of determined trust component that are not reflected in determined member components

Ensuring unders and overs are properly taxed

276 - 420   Trustee taxed on amounts of under of character relating to assessable income not properly carried forward

276 - 425   Trustee taxed on amounts of over of character relating to tax offset not properly carried forward

Commissioner may remit tax under this Subdivision

276 - 430   Commissioner may remit tax under this Subdivision