INCOME TAX ASSESSMENT ACT 1997 - SECT 276.55 AMIT taken to be fixed trust and member taken to have vested and indefeasible interest in income and capital

INCOME TAX ASSESSMENT ACT 1997 - SECT 276.55

    For the purposes of this Act:

  (a)   treat an * AMIT for an income year as a * fixed trust; and

  (b)   treat an entity that is a * member of the AMIT in respect of the income year as having a vested and indefeasible interest in a share of the income and capital of the AMIT throughout the income year.