INCOME TAX ASSESSMENT ACT 1936 - SECT 102MC When trading business not carried on
INCOME TAX ASSESSMENT ACT 1936 - SECT 102MC
When trading business not carried on A trustee of a unit trust that would, apart from this section,
carry on a trading business at a time during a year of income is taken for the
purposes of this Division not to carry on a trading business at a time
during that year if, for that year, not more than 2% of the gross revenue of
the trustee (as trustee of the unit trust) was income from things other than
eligible investment business (except from the carrying on of a business that
is not incidental and relevant to the eligible investment business).