Commonwealth of Australia Consolidated Acts Commonwealth of Australia Consolidated ActsThe trustee of certain Australian managed investment trusts may make a choice that certain assets of the trust be dealt with under CGT rules. If the trustee does not make such a choice, those assets will be treated as revenue assets (see Subdivision 275-B).
Gains and profits from carried interests held in entities that are or were Australian managed investment trusts are included in the assessable income of the holder of the interests. The holder is entitled to a deduction from losses from such interests (see Subdivision 275-C).
Table of sections
275-5 Treatment of trading trusts etc.
275-10 Trust with investment management activities outside Australia
275-15 Every member of trust is a managed investment trust
275-20 No fund payment made in relation to the income year
275-30 Temporary circumstances outside the control of the trustee
275-35 Application of subsections 102L(15) and 102T(16)