ASIC Corporations (Attribution Managed Investment Trusts) Instrument 2016/489 (Cth)

ASIC Corporations (Attribution Managed Investment Trusts) Instrument 2016/489

About this compilation

Compilation No. 1

This is a compilation of ASIC Corporations (Attribution Managed Investment Trusts) Instrument 2016/489 as in force on 24 June 2016. It includes any commenced amendment affecting the legislative instrument to that date.

This compilation was prepared by the Australian Securities and Investments Commission.

The notes at the end of this compilation (the endnotes) include information about amending instruments and the amendment history of each amended provision.

Contents

Part 1—Preliminary 1 Name of legislative instrument 3 Authority 4 Definitions Part 2—Exemption 5 Equality of treatment: attribution for tax purposes Part 3—Declaration 6 Changing the scheme's constitution to meet AMIT requirements Endnotes Endnote 1—Instrument history Endnote 2—Amendment history

Part 1—Preliminary

1 Name of legislative instrument This is the ASIC Corporations (Attribution Managed Investment Trusts) Instrument 2016/489.

3 Authority This instrument is made under subsection 601QA(1) of the Corporations Act 2001.

4 Definitions In this instrument: Act means the Corporations Act 2001. attribution managed investment trust (or AMIT) has the meaning given by section 276-10 of the ITA Act. ITA Act means the Income Tax Assessment Act 1997.

Part 2—Exemption

5 Equality of treatment: attribution for tax purposes A responsible entity of a registered scheme that is an AMIT does not have to comply with paragraph 601FC(1)(d) of the Act to the extent that it requires the responsible entity to treat the members of the scheme who hold interests of the same class equally where the responsible entity is attributing any part of a determined trust component of a particular character to the interests held by a member of the scheme in accordance with section 276-210 of the ITA Act. Note: The attribution must be worked out on a fair and reasonable basis in accordance with the constituent documents of the AMIT: see subsection 276-210(3) of the ITA Act.