Document ID: chunk:federal_register_of_legislation:C2025C00014:section:102aazd:p4
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 102AAZD (pt 4/4)
Character Range: 779400–780444

(7) If:
 (a) subsection (4) applies to an attributable taxpayer in relation to the taxpayer's current year of income; and
 (b) any of the transfers taken into account in determining whether the taxpayer was an attributable taxpayer in relation to the taxpayer's year of income and in relation to the trust estate concerned were made before the IP time; and
 (c) the taxpayer gives to the Commissioner, in accordance with the approved form, such information in connection with the operation of this Division as is required by the form to be set out;
the Commissioner may reduce the amount included in the taxpayer's assessable income of the taxpayer's current year of income under subsection (4) having regard to:
 (d) the extent to which the market value, as at the beginning of the taxpayer's current year of income, of the assets of the trust estate is, in the opinion of the Commissioner, attributable to property or services transferred by the taxpayer before the IP time; and
 (e) such other matters as the Commissioner considers relevant.