Petroleum Resource Rent Tax Assessment Act 1987

PART V - LIABILITY TO TAXATION  

Division 6 - Anti-avoidance  

Subdivision A - Arrangements to obtain tax benefits  

SECTION 52  

52   ARRANGEMENTS TO WHICH SUBDIVISION APPLIES  
This Subdivision applies to any arrangement that has been or is entered into on or after 1 July 1984, and to any arrangement that has been or is carried out or commenced to be carried out on or after that date (other than an arrangement that was entered into before that date), where:

(a) a person (in this section referred to as the eligible person ) has obtained, or would but for section 53 obtain, a tax benefit in connection with the arrangement; and

(b) having regard to:

(i) the manner in which the arrangement was entered into or carried out;

(ii) the form and substance of the arrangement;

(iii) the time at which the arrangement was entered into and the length of the period during which the arrangement was carried out;

(iv) the result in relation to the operation of this Act that, but for this Subdivision, would be achieved by the arrangement;

(v) any change in the financial position of the eligible person that has resulted, will result, or may reasonably be expected to result, from the arrangement;

(vi) any change in the financial position of any person who has, or has had, any connection (whether of a business, family or other nature) with the eligible person, being a change that has resulted, will result or may reasonably be expected to result, from the arrangement;

(vii) any other consequence for the eligible person, or for any person referred to in subparagraph (vi), of the arrangement having been entered into or carried out; and

(viii) the nature of any connection (whether of a business, family, or other nature) between the eligible person and any person referred to in subparagraph (vi);

it would be concluded that the person, or one of the persons, who entered into or carried out the arrangement or any part of the arrangement did so for the sole or dominant purpose of enabling the eligible person to obtain a tax benefit or tax benefits in connection with the arrangement or of enabling the eligible person and another person or other persons each to obtain a tax benefit or tax benefits in connection with the arrangement (whether or not that person who entered into or carried out the arrangement or any part of the arrangement is the eligible person or is the other person or one of the other persons).