Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 723.35

Multiple rights created to take advantage of the $50,000 threshold

  (1)   Sections   723 - 10 and 723 - 15 apply differently if, having regard to all relevant circumstances, it is reasonable to conclude that the sole or main reason why a right was created as a different right from one or more other rights created in respect of the same thing was so that paragraph   723 - 10(1)(f) or 723 - 15(1)(d) would not be satisfied for one or more of the rights mentioned in this subsection.

  (2)   Those sections:

  (a)   apply to that thing, in relation to each of the rights mentioned in subsection   (1) of this section, as if paragraphs 723 - 10(1)(f) and 723 - 15(1)(d) were omitted; and

  (b)   are taken always to have so applied.


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