Document ID: chunk:federal_register_of_legislation:C2010C00673:body:0:p10
Version: federal_register_of_legislation:C2010C00673
Segment Type: other
Provision Reference: 
Character Range: 23058–25702

any 2 or more parties to:
  (a) the derivation of the excepted trust income mentioned in
subsection (2); or
  (b) any act or transaction directly or indirectly connected
with the derivation of that excepted trust income;
were not dealing with each other at arm's length in relation to
the derivation, or in relation to the act or transaction, the
excepted trust income is only so much (if any) of that income
as would have been derived if they had been dealing with each
other at arm's length in relation to the derivation, or in
relation to the act or transaction.".
  20. After section 102AG:
Insert the following section:
Transfer of property as the result of a family breakdown
  "102AGA. (1) For the purposes of subparagraph
102AE(2)(b)(viii) or 102AG(2)(c)(viii), the transfer of
property (the 'subject property') by a person (the
'transferor'):
  (a) to the minor mentioned in subparagraph 102AE(2)(b)(viii);
or
  (b) to the trustee mentioned in subparagraph
102AG(2)(c)(viii) for the benefit of the beneficiary mentioned
in that subparagraph;
is 'as the result of a family breakdown' if the requirements of
subsection (2) or (3) of this section are met.
  "(2) The transfer will be as the result of a family breakdown
if:
  (a) a person ceases to live with another person as the spouse
of that person on a genuine domestic basis (whether or not
legally married to that person); and
  (b) at least one of the persons:
    (i) is the natural parent; or
    (ii) is the adoptive parent; or
    (iii) is the step-parent; or
    (iv) has legal custody or guardianship;
of the minor or the beneficiary; and
  (c) an order, determination or assessment of a court, person
or body (whether or not in Australia) is made wholly or partly
because the person has ceased to live as the spouse of the
other person on a genuine domestic basis; and
  (d) the effect of the order, determination or assessment is
that a person (whether one of the spouses, the transferor or
any other person) becomes subject to a legal obligation to
maintain, transfer property to, or do some other thing for the
benefit of, the minor or beneficiary or one of the spouses; and
  (e) the transferor transfers the subject property to the
minor, or to the trustee for the benefit of the beneficiary, in
giving effect to the legal obligation (including in discharging
the legal obligation if it falls on someone else, and whether
or not the legal obligation could have been given effect in
some other way).
  "(3) The transfer will also be as a result of a family
breakdown if:
  (a) when the minor or beneficiary is born, his or her natural
parents are not living together as