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SOCIAL SECURITY ACT 1991 - SECT 1208Q

Individual disposes of ordinary income to company or trust

             (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 ordinary income of the individual; and

                     (d)  if the ordinary income is income from an asset--the course of conduct that constituted the disposition of the income did not also constitute a disposition of the asset;

the Secretary may, by writing, determine that Division 3 of Part 3.10 applies, and is taken to have applied, to the disposal referred to in paragraph (c) as if:

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

                      (f)  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.



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