Document ID: chunk:federal_register_of_legislation:C2004A02159:body:0:p9
Version: federal_register_of_legislation:C2004A02159
Segment Type: other
Provision Reference: 
Character Range: 19314–22062

the Income Tax Laws Amendment Act 1979 and 'at any time, whether before or after the commencement of this section' were substituted;
          "(hd) sub-sections (2) and (3) of section 11 of the Income Tax Laws Amendment Act 1979 were omitted and the following sub-section were substituted;
          '(2) The amendment made by sub-section (1) applies in relation to a taxpayer in relation to property acquired or constructed by the taxpayer at any time, whether before or after the commencement of this section.'.";
     (b) by omitting "and" from paragraph (k) of sub-section (5); and
     (c) by adding at the end of sub-section (5) the following word and paragraph:
          "; and (n) 'after 12 June 1979 other than a change occurring in consequence of an agreement entered into on or before that date' were omitted from sub-section (2) of section 16, sub-section (2) of section 17 and sub-section (2) of section 18 of the Income Tax Laws Amendment Act 1979 and 'at any time, whether before or after the commencement of this section' were substituted.".

Arrangements to avoid the operation of section 13
14. (1) Where—
     (a) an amount (in this sub-section referred to as the "relevant amount") is included in the assessable income of a taxpayer (in this sub-section referred to as the "recipient taxpayer") of the year of income that commenced on 1 July 1978 (in this sub-section referred to as the "relevant year of income");
     (b) the relevant amount is a loss, outgoing or expenditure (which loss, outgoing or expenditure is in this sub-section referred to as the "relevant expenditure") incurred (whether before or after the commencement of this section) to the recipient taxpayer by another taxpayer (in this sub-section referred to as the "associated taxpayer");
     (c) but for this sub-section, a deduction would be allowable to the associated taxpayer in relation to a year of income in respect of the whole or a part of the relevant expenditure;
     (d) if the relevant amount were not included in the assessable income of the recipient taxpayer of the relevant year of income, the recipient taxpayer would be deemed to have incurred a loss in the relevant year of income;
     (e) if, in determining whether the recipient taxpayer is deemed to have incurred a loss in the relevant year of income and in determining the amount of any such loss—
          (i) the relevant amount were not included in the assessable income of the recipient taxpayer of the relevant year of income; and
          (ii) the conditions specified in paragraphs 80 (5) (ha), (hb), (hc), (hd) and (n) of the Income Tax Assessment Act 1936 were taken to be applicable,
      the recipient taxpayer would not be deemed to have incurred a loss in the