Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-95 - VALUE SHIFTING  

Division 727 - Indirect value shifting affecting interests in companies and trusts, and arising from non-arm ' s length dealings  

Subdivision 727-B - What is an indirect value shift  

SECTION 727-160   When an economic benefit is provided in connection with a scheme  

727-160(1)    
An economic benefit has been, is being, is to be, or might be, ^* provided by an entity to another entity in connection with a ^* scheme if, and only if:

(a) the benefit has been, is being, is to be, or might be, provided under the scheme; or

(b) the providing of the benefit is reasonably attributable to:

(i) something that has been, is being, is to be, or might be, done or omitted under the scheme (whether before, at the time of, or after, the providing of the benefit) by an entity that is either of those entities or a third entity; or

(ii) 2 or more such things.

727-160(2)    
An entity referred to in paragraph (1)(b) need not be a party to the ^* scheme. A benefit can be provided by act or omission.