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-C - Exclusions  

General

SECTION 727-215   Amount does not exceed $50,000  

727-215(1)    
An ^* indirect value shift does not have consequences under this Division if the amount of it does not exceed $50,000.

727-215(2)    
However, subsection (1) does not apply to an ^* indirect value shift (and is taken never to have applied to it) if:

(a) before, at the same time as, or after it, another indirect value shift happens for which the same entity is the losing entity as for the first indirect value shift; and

(b) having regard to all relevant circumstances, it is reasonable to conclude that the sole or main reason why one of the indirect value shifts happened under a different ^* scheme from the other was so that its amount would not exceed $50,000.