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 725-95   Direct value shift resulting from reversal  

725-95(1)  
A * direct value shift does not have consequences for any entity under this Division if:


(a) section 725-90 applies, and the state of affairs referred to in paragraph 725-90(1)(a) ceases to exist; and


(b) the direct value shift would not have happened but for that state of affairs ceasing to exist.

725-95(2)  
However, if section 725-90 stops applying, this section is taken never to have applied to the later direct value shift.


 

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