Document ID: chunk:federal_register_of_legislation:C2025C00014:section:317:p4
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 317 (pt 4/12)
Character Range: 1828921–1831597

discretion;
 (ii) the exercise of the power or discretion, or the failure to exercise the power or discretion, has the effect of determining, to any extent, either or both of the following:
 (A) the identities of those who may benefit under the trust;
 (B) how beneficiaries are to benefit, as between themselves, under the trust; or
 (b) one or more of the beneficiaries under the trust have a contingent or defeasible interest in some or all of the corpus or income of the trust; or
 (c) the trustee of another trust, being a trust where both of the conditions in paragraph (a) are satisfied, benefits or is capable (whether by the exercise of a power of appointment or otherwise) of benefiting, under the first‑mentioned trust.
disposal of an asset includes:
 (a) redemption; and
 (b) CGT event J1 happening in relation to the asset (about companies ceasing to be related after a roll‑over) if the assumptions in paragraphs 383(a) to (c) applied.
Note: Basically, the effect of those assumptions is that the company concerned is taken to be a taxpayer and a resident and CGT event J1 may therefore be taken to have happened.
distributable profits, in relation to a company, means the amount, whether of an income or capital nature, that, having regard to the accounts of the company and such other matters as may reasonably be regarded as relevant, constitutes profits of the company that would be available for distribution by the company by way of dividends if there were disregarded any requirement of the constituent document, or of any resolution or decision, of the company restricting the availability of the profits for distribution in that way, other than any requirement providing for an eligible provision or reserve.
double tax agreement, in relation to a foreign country, means:
 (a) if there is only one agreement (within the meaning of the International Tax Agreements Act 1953) in force in respect of the foreign country—that agreement; or
 (b) if there are 2 or more agreements (within the meaning of that Act) in force in respect of the foreign country—the agreement that is expressed to be:
 (i) for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income; or; or
 (ia) concerning the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income; or
 (ii) for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital; or
 (iii) for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital; or
 (iv) for the avoidance of double taxation and the prevention