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INCOME TAX ASSESSMENT ACT 1997 - SECT 974.155

Related schemes

  (1)   Subject to subsection   (3), 2 * schemes are related to one another if they are related to one another in any way.

  (2)   Without limiting subsection   (1), 2 * schemes are related to each other if:

  (a)   the schemes are based on stapled instruments; or

  (b)   one of the schemes would, from a commercial point of view, be unlikely to be entered into unless the other scheme was entered into; or

  (c)   one of the schemes depends for its effect on the operation of the other scheme; or

  (d)   one scheme complements or supplements the other; or

  (e)   there is another scheme to which both the schemes are related because of a previous application or applications of this subsection.

  (3)   Two * schemes are not related to one another merely because:

  (a)   one refers to the other; or

  (b)   they have a common party.

  (4)   The regulations may specify circumstances in which 2 * schemes:

  (a)   are taken to be related to one another; or

  (b)   are taken not to be related to one another.


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