12‑441 Integrity rule—concessional cross12‑441 Integrity rule—concessional cross staple rent cap

#### 12‑441 Integrity rule—concessional cross staple rent cap (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.