INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 10AB - Rehabilitation and restoration of mining, quarrying and petroleum sites  

SECTION 124BE  

124BE   TRANSACTIONS BETWEEN PERSONS NOT AT ARM'S LENGTH  
If:

(a) a person has incurred expenditure in connection with a transaction where the parties to the transaction are not dealing with each other at arm's length in relation to the transaction; and

(b) deductions are or have been allowable under this Division in respect of the expenditure; and

(c) the amount of the expenditure is greater or less than is reasonable;

the amount of the expenditure is taken, for all purposes of the application of this Act in relation to the parties to the transaction, to be the amount that would have been reasonable if the parties were dealing with each other at arm's length.