Income Tax Assessment Act 1997
The consequences are different if:
(a) a decrease in the *market value of a * down interest of which you are an * affected owner is reasonably attributable to the target entity proposing to buy back that interest for less than its market value; and
(b) the target entity does buy back that down interest; and
(c) subsection 159GZZZQ(2) of the Income Tax Assessment Act 1936 treats you as having received the down interest ' s market value worked out as if the buy-back had not occurred and was never proposed to occur. 725-230(2)
The * adjustable value of the * down interest is not reduced, and there is no * taxing event generating a gain.
Also, to the extent that the * direct value shift is from the * down interest to * up interests of which you are an * affected owner, uplifts in the * adjustable value of the up interests are worked out under either or both of:
(a) item 8 of the table in subsection 725-250(2) ; and
(b) item 9 of the table in subsection 725-335(3) ;
as if the down interest were one owned by another affected owner.
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