Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 276.50

An AMIT for an income year is treated as a fixed trust. A member of the AMIT in respect of the income year is treated as having a vested and indefeasible interest in a share of the income and capital of the AMIT throughout the income year.

Table of sections

Operative provisions

276 - 55   AMIT taken to be fixed trust and member taken to have vested and indefeasible interest in income and capital