Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-95 - VALUE SHIFTING  

Division 725 - Direct value shifting affecting interests in companies and trusts  

Subdivision 725-A - Scope of the direct value shifting rules  

SECTION 725-80   725-80   Who is an affected owner of a down interest?  


An entity is an affected owner of a * down interest if, and only if, the entity owns the down interest at the * decrease time and at least one of these paragraphs is satisfied:


(a) the entity is the controller;


(b) the entity was an * associate of the controller at some time during or after the * scheme period;


(c) the entity is an * active participant in the * scheme.


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