Commonwealth Consolidated Acts

SOCIAL SECURITY ACT 1991 - SECT 1208K

  (1)   If:

  (a)   an individual transfers property to a company or trust on or after 1   January 2002; and

  (b)   either:

  (i)   as a result of the transfer, the individual became an attributable stakeholder of the company or trust; or

  (ii)   at the time of the transfer, the individual was an attributable stakeholder of the company or trust; and

  (c)   the transfer amounts to a disposal by the individual of an asset of the individual;

the Secretary may, by writing, determine that Division   2 of Part   3.12 and sections   93U, 93UA and 198F to 198MA (inclusive) apply to that disposal as if:

  (d)   the amount of the disposition were nil; or

  (e)   the amount of the disposition were reduced by the amount specified in the determination.

  (2)   In making a decision under this section, the Secretary must comply with any relevant decision - making principles.