• Specific Year
    Any

INCOME TAX ASSESSMENT ACT 1997 - SECT 275.15 Trusts with wholesale membership

INCOME TAX ASSESSMENT ACT 1997 - SECT 275.15

Trusts with wholesale membership

    A trust is covered by this section at a time if, at that time:

  (a)   the trust is not required to be registered in accordance with section   601ED of the Corporations Act 2001 (whether or not it is actually so registered) because of subsection   601ED(2) of that Act (no product disclosure statement required) or because it is operated or managed by an entity covered by subsection   275 - 35(2) (Crown entities); and

  (b)   the total number of entities that had become a * member of the trust because a financial product or a financial service was provided to, or acquired by, the entity as a retail client (within the meaning of the Corporations Act 2001 ) is no more than 20; and

  (c)   the entities mentioned in paragraph   (b) have a total * MIT participation interest in the trust of no more than 10%.

Download

No downloadable files available