Document ID: chunk:federal_register_of_legislation:C2005C00508:clause:2_52zzx:p2
Version: federal_register_of_legislation:C2005C00508
Segment Type: clause
Provision Reference: sch 2 cl 52ZZX (pt 2/3)
Character Range: 166084–168621

distribution of capital or profits of the company to a shareholder of the company; and
 (d) in the case of a trust—the disposal is not by way of:
 (i) making a distribution (whether in money or in other property) to a beneficiary of the trust; or
 (ii) crediting an amount to a beneficiary of the trust.

 (7) If a company or trust disposes of assets as mentioned in subsection (6), the amount of the disposition is:
 (a) if the company or trust receives no consideration for the destruction, disposal or diminution—an amount equal to:
 (i) the value of the assets that are destroyed; or
 (ii) the value of the assets that are disposed of; or
 (iii) the amount of the diminution in the value of the assets whose value is diminished; or
 (b) if the company or trust receives consideration for the destruction, disposal or diminution—an amount equal to:
 (i) the value of the assets that are destroyed; or
 (ii) the value of the assets that are disposed of; or
 (iii) the amount of the diminution in the value of the assets whose value is diminished;
  less the amount of the consideration received by the company or trust in respect of the destruction, disposal or diminution.

Disposal by way of distribution

 (8) For the purposes of subsection (1), if a company makes a distribution of capital or profits of the company to a shareholder of the company on or after 1 July 2000:
 (a) the company is taken to have disposed of an asset of the company; and
 (b) the amount of the disposition is equal to the amount or value distributed to the shareholder.

 (9) For the purposes of subsection (1), if a trust:
 (a) makes a distribution (whether in money or in other property) to a beneficiary of the trust on or after 1 July 2000; or
 (b) credits an amount to a beneficiary of the trust on or after 1 July 2000;
then:
 (c) the trust is taken to have disposed of an asset of the trust; and
 (d) the amount of the disposition is equal to the amount or value distributed or credited to the beneficiary.

Obtaining an income support advantage

 (10) For the purposes of this section, an entity has a purpose of obtaining an income support advantage for an individual (who may be the entity) if the entity has a purpose of:
 (a) enabling the individual to obtain any of the following:
 (i) a service pension;
 (ii) income support supplement;
 (iii) a social security pension;
 (iv) a social security benefit; or
 (b) enabling the individual to obtain any of the following at a higher rate than would otherwise have been payable:
 (i) a service