Document ID: chunk:federal_register_of_legislation:F2025L00269:reg:17
Version: federal_register_of_legislation:F2025L00269
Segment Type: reg
Provision Reference: reg 17
Character Range: 6432–7132

17  Application of Division 7 of Part IIIB of Act where company or trust retains value of transferred property

        1.     This section applies if:

           1.     property is transferred by an individual to a company or trust; and
           2.     before 1 January 2002, the company or trust transferred the property to another individual or other entity in consideration of an arm's length amount; and
           3.     the company or trust retained the amount or value of the consideration.

        1.     The Commission must consider whether, in all the circumstances, the application of Division 7 of Part IIIB of the Act would be unfair or unreasonable in relation to the individual.