Document ID: chunk:federal_register_of_legislation:C2025C00014:section:177c:p7
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 177C (pt 7/7)
Character Range: 1610566–1612202

back tax offset to a taxpayer; or
 (cb) the issuing of an exploration credit to a taxpayer; or
 (cc) the allowance of a refundable R&D tax offset, or a non‑refundable R&D tax offset, to a taxpayer;
is taken to be attributable to the making of a declaration, election, agreement or selection, the giving of a notice or the exercise of an option where, if the declaration, election, agreement, selection, notice or option had not been made, given or exercised, as the case may be:
 (d) the amount would have been included in that assessable income; or
 (e) the deduction would not have been allowable; or
 (f) the capital loss would not have been incurred; or
 (fa) the loss carry back tax offset would not have been allowable; or
 (g) the foreign income tax offset would not have been allowable; or
 (ga) the innovation tax offset would not have been allowable; or
 (h) the exploration credit would not have been issued; or
 (i) the refundable R&D tax offset, or non‑refundable R&D tax offset, would not have been allowable.
 (4) To avoid doubt, paragraph (1)(a) applies to a scheme if:
 (a) an amount of income is not included in the assessable income of the taxpayer of a year of income; and
 (b) an amount would have been included, or might reasonably be expected to have been included, in the assessable income if the scheme had not been entered into or carried out; and
 (c) instead, the taxpayer or any other taxpayer makes a discount capital gain (within the meaning of the Income Tax Assessment Act 1997) for that or any other year of income.
 (5) Subsection (4) does not limit the generality of any other provision of this Part.