Trading trust The Commissioner made a private ruling on the application of section 102N of the Income Tax Assessment Act 1936 to the ownership of a certain class of units in an unlisted unit trust.

Non-binding edited private advice. This is an edited version of private advice the ATO gave to a specific taxpayer about their own circumstances. You cannot rely on it — it is not binding and provides no protection for anyone else (see PS LA 2008/4). Use it as a guide to the ATO’s thinking, not as authority.