Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 775.120

Non-arm's length transactions

                   If:

                     (a)  you and another entity did not deal with each other at * arm's length in connection with a transaction that is relevant to working out:

                              (i)  whether you make a * forex realisation gain or a * forex realisation loss; or

                             (ii)  the amount of any * forex realisation gain or a * forex realisation loss made by you; and

                     (b)  apart from this section, a particular amount is more or less than it would have been if you and the other entity had been dealing with each other at arm's length;

this Subdivision applies to you as if that amount were the amount it would have been if you and the other entity had been dealing with each other at arm's length.



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