Taxation Administration Act 1953

This section applies to a trust that is an *AMIT for an income year.

The object of this section is to ensure that the total of the *AMIT interest payments that the trustee of the *AMIT makes in relation to the income year equals, as nearly as practicable, the amount mentioned in subsection (3).

The amount is the total of the *determined member components for the *AMIT for the income year of the character of interest (as defined in Division 11A of Part III of the Income Tax Assessment Act 1936) that is subject to a requirement to withhold under Subdivision 12‑F.

To work out the amount of an AMIT interest payment, apply subsections 12A‑30(4), (5), (6) and (7). For this purpose:

treat references in those subsections to AMIT dividend payments as instead being references to AMIT interest payments; and

treat the reference in subsection 12A‑30(4) to “the amount mentioned in subsection (3)” as instead being a reference to “the amount mentioned in subsection 12A‑35(3)”.