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 725-50   725-50   When a direct value shift has consequences under this Division  


A * direct value shift under a * scheme involving * equity or loan interests in an entity (the target entity ) has consequences for you under this Division if, and only if:


(a) the target entity is a company or trust at some time during the * scheme period; and


(b) section 725-55 (Controlling entity test) is satisfied; and


(c) section 725-65 (Cause of the value shift) is satisfied; and


(d) you are an * affected owner of a * down interest, or an * affected owner of an * up interest, or both; and


(e) neither of sections 725-90 and 725-95 (about direct value shifts that are reversed) applies.

Note:

For a down interest of which you are an affected owner, the direct value shift has consequences under this Division only if section 725-70 (about material decrease in market value) is satisfied.


 

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