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:
(a) the interests of the members of the trust need to be clearly defined at all times when the trust is in existence in the income year; and
(b) the trustee of the trust needs to have made a choice for the trust to be an AMIT in respect of that income year or an earlier income year.
Table of sections
Operative provisions
276 - 10 Meaning of attribution managed investment trust (or AMIT )
276 - 15 Clearly defined interests
276 - 20 Trust with classes of membership interests--each class treated as separate AMIT