Document ID: chunk:federal_register_of_legislation:C2025C00014:section:102aat:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 102AAT (pt 2/4)
Character Range: 756841–759344

for a consideration less than the arm's length amount in relation to the underlying transfer;
 (D) it is not the case that the sole purpose of the underlying transfer was the acquisition of units in the trust estate where the parties to the underlying transfer were at arm's length with each other in relation to the underlying transfer and the trust estate was a public unit trust at all times during the entity's current year of income when the trust estate was in existence; and
 (b) if the entity is a natural person (other than a natural person in the capacity of a trustee):
 (i) if:
 (A) the natural person first commenced to be a resident of Australia at a time (in this subparagraph called the first residence time) after the IP time and before the end of the entity's current year of income; and
 (B) the transfer, or each of the transfers, covered by paragraph (a) was made before the first residence time;
  the trust estate was not a non‑resident family trust in relation to the natural person at all times:
 (C) after the beginning of the first year of income of the natural person after the first residence time; and
 (D) before the end of the entity's current year of income;
  when the trust estate was in existence; or
 (ii) in any other case—the trust estate was not a non‑resident family trust in relation to the natural person at all times after the beginning of the year of income of the taxpayer commencing on 1 July 1990 and before the end of the entity's current year of income when the trust estate was in existence; and
 (c) it is not the case that:
 (i) the entity is a natural person (other than a natural person in the capacity of a trustee) who first commenced to be a resident of Australia at a time (in this paragraph called the first residence time) after the IP time and before the end of the entity's current year of income; and
 (ii) the transfer was made before the first residence time; and
 (iii) the entity was not in a position to control the trust estate at any time during the period:
 (A) commencing at the beginning of the first year of income of the entity after the first residence time; and
 (B) ending at the end of the entity's current year of income.
 (2) For the purposes of this section, if:
 (a) an entity (in this subsection called the transferor) being a partnership is an attributable taxpayer in relation to the entity's current year of income and in relation to a particular trust estate (in this subsection called the transferee trust estate)