Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 727.25

  (1)   To determine whether a scheme gives rise to an indirect value shift, it must be possible to identify all the economic benefits under the scheme, and the providers and recipients of those benefits.

  (2)   Before then, interests that might be affected by the scheme may be realised at a loss. Subdivision   727 - K contains special rules that apply if that happens.

Table of sections

727 - 95   Main object

727 - 100   When an indirect value shift has consequences under this Division

727 - 105   Ultimate controller test

727 - 110   Common - ownership nexus test (if both losing and gaining entities are closely held)

727 - 125   No consequences if losing entity is a complying superannuation entity etc.