If, under a scheme, value is shifted from equity or loan interests in a company or trust to other equity or loan interests in the same company or trust (including interests issued at a discount), this Division:
(a) adjusts the value of those interests for income tax purposes to take account of material changes in market value that are attributable to the value shift; and
(b) treats the value shift as a partial realisation to the extent that value is shifted between interests held by different owners, and in some other cases.
However, it does so only for interests that are owned by entities involved in the value shift.
725 - 50 When a direct value shift has consequences under this Division
725 - 55 Controlling entity test
725 - 65 Cause of the value shift
725 - 70 Consequences for down interest only if there is a material decrease in its market value
725 - 80 Who is an affected owner of a down interest?
725 - 85 Who is an affected owner of an up interest?
725 - 90 Direct value shift that will be reversed
725 - 95 Direct value shift resulting from reversal