266-165
CurrentThere must be no abnormal trading (subject to 50% stake exception)
Volume 5Schedules
Schedule 2FTrust losses and other deductions
Division 266Income tax consequences for fixed trusts of abnormal trading or change in ownership
Subdivision 266-EEffect of abnormal trading on unlisted very widely held trust or wholesale widely held trust
266-165 There must be no abnormal trading (subject to 50% stake exception)
(1)
There must be no abnormal trading in the units of the trust during the test period.
To find out the meaning of abnormal trading: see Subdivision 269‑B.
(2)
If there is abnormal trading on one or more occasions, then for each abnormal trading the trust must pass the 50% stake test in respect of the following times:
(a)
the beginning of the test period;
(b)
immediately after the abnormal trading.
To find out whether the trust passes the 50% stake test: see Subdivision 269‑C.
This Act’s bill:Second reading speech
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