Document ID: chunk:federal_register_of_legislation:C2025C00014:section:25a:p6
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 25A (pt 6/6)
Character Range: 183435–185645

Commissioner, is the value of the property immediately before the time of transfer;
 (ii) the property is transferred otherwise than as a result of:
 (A) a will, a codicil or an order of a court that varied or modified the provisions of a will or a codicil; or
 (B) an intestacy or an order of a court that varied or modified the application, in relation to the estate of a deceased person, of the provisions of the law relating to the distribution of the estates of persons who die intestate; and
 (iii) the Commissioner is satisfied that the transferee and the person who transferred the property were not dealing with each other at arm's length in relation to the transfer of the property; or
 (b) the property:
 (i) is transferred by way of a distribution of property of a private company or private trust estate made (whether in the course of the winding up of the company or trust estate or otherwise) to the transferee in the transferee's capacity as a shareholder in the company or a beneficiary of the trust estate, as the case may be; and
 (ii) is not excepted property of the company or trust estate, as the case may be.
 (12) In this section:
 (a) a reference to excepted property of a company, partnership or trust estate is a reference to:
 (i) trading stock of the company, partnership or trustee; or
 (ii) property being plant within the meaning of section 45‑40 of the Income Tax Assessment Act 1997 purchased for use by the company, partnership or trustee of the trust estate for the purpose of producing assessable income;
 (b) a reference to a private company is a reference to a company other than a company the shares in which are listed for quotation in the official list of a stock exchange in Australia or elsewhere;
 (c) a reference to a private trust estate is a reference to a trust estate other than a unit trust the units in which are listed for quotation in the official list of a stock exchange in Australia or elsewhere or are ordinarily available for subscription or purchase by the public; and
 (d) a reference to property generally or to a particular kind of property includes a reference to an estate or interest in property or in that kind of property, as the case may be.