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Taxation Administration Act 1953
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(1) This section applies if: (a) a *managed investment trust in relation to an income year derives, receives or makes an amount of *excepted MIT CSA income for the income year; and (b) if the amount is excepted MIT CSA income because of subsection 12‑440(3)—paragraph 12‑440(4)(b) applies (15 year concession); and (c) the amount of excepted MIT CSA income is, or is attributable to, *rent from land investment under a lease (the cross staple lease) entered into by: (i) the *asset entity mentioned in paragraph 12‑437(2)(a) (the relevant asset entity); and (ii) the *operating entity mentioned in paragraph 12‑437(2)(b) (the relevant operating entity). (2) To the extent (if any) that the amount of the relevant asset entity’s *excepted MIT CSA income exceeds its *concessional cross staple rent cap for the income year, the following provisions do not apply to the amount of the *managed investment trust’s excepted MIT CSA income mentioned in paragraph (1)(a): (a) subsection 12‑437(5); (b) subsection 12‑440(3). (3) If the relevant asset entity is not a *managed investment trust in relation to the income year, for the purposes of subsection (2), treat it as a managed investment trust in relation to the income year.