Document ID: chunk:federal_register_of_legislation:F2017L00222:body:0:p4
Version: federal_register_of_legislation:F2017L00222
Segment Type: other
Provision Reference: 
Character Range: 7689–10563

if any; and
 (b) the income attribution percentage attributed to the individual, if any.
13 Other circumstances
  The Secretary must consider any other circumstance that affects the involvement of the individual with the activities or the administration of the company or trust.

Part 3 Determination of asset attribution percentage

14 Purpose
  This Part sets out decision-making principles with which the Secretary must comply in making a determination, under subparagraph 1207X (1) (b) (ii) or (2) (d) (ii) of the Act, that an attributable stakeholder's asset attribution percentage, in relation to a company or a trust, is a specified percentage lower than 100%.
15 Application
 (1) This Part applies if, but for a determination by the Secretary, the asset attribution percentage of the attributable stakeholder, in relation to the company or trust, would be 100%.
 (2) The Secretary must consider the relationship between the individual and the company or trust, having regard to the circumstances mentioned in this Part.
 (3) In particular, the Secretary must consider whether the effect of one or more of the circumstances mentioned in this Part, in relation to the individual and the company or trust, provides a sufficient basis on which to determine a percentage lower than 100% as the asset attribution percentage.
16 Circumstances affecting relationship with company or trust
 (1) The Secretary must consider whether there are relevant circumstances that make it inappropriate for the individual to have an asset attribution percentage of 100%.
 (2) For subsection (1), relevant circumstances include the extent to which the relationship between the individual and the company or trust is affected by any of the following circumstances:
 (a) circumstances arising from the legal structure of the company or trust;
 (b) circumstances arising from the administrative arrangements of the company or trust;
 (c) whether, having regard to the relationship between the individual and the company or trust, the individual can reasonably be expected to exercise effective control in relation to the company or trust and, if so, the extent of that control.
17 Contribution to company or trust
  If the individual has made a contribution to the company or trust, the Secretary must consider the circumstances in which the contribution was made and, in particular:
 (a) the value of the contribution; and
 (b) the proportion that the value of the contribution has to the total assets of the company or trust at the time of the contribution; and
 (c) the effect of the contribution on the financial position of the company or trust; and
 (d) if the individual received consideration for the contribution, the amount of consideration.
18 Past benefit from distributions by company or trust
 (1) The Secretary must consider whether the individual has received a benefit from