Document ID: chunk:federal_register_of_legislation:F2015L00068:front:0:p41
Version: federal_register_of_legislation:F2015L00068
Segment Type: other
Provision Reference: 
Character Range: 105577–108178

Act, the transfer is to an individual who is an attributable stakeholder of the company or trust.

Part 4 Disposal of ordinary income (before 1 January 2002) by attributable stakeholder

13 Purpose of Part 4

  This Part sets out decision-making principles with which the Commission must comply in making a determination for subsection 52ZZZD (1) of the Act.

14 Definitions

  In this Part:
individual means an individual who transfers property to a company or trust in accordance with subsection 52ZZZD (1) of the Act.

15 Application of Division 7 of Part IIIB of Act where value of property same or greater

 (1) This section applies if:
 (a) property is transferred by an individual to a company or trust; and
 (b) on 1 January 2002, the property is owned or controlled by the company or trust; and
 (c) on 1 January 2002, the value of the property is the same as, or greater than, it was at the time of its transfer.

 (2) The Commission must consider whether, in all the circumstances, the application of Division 7 of Part IIIB of the Act would be unfair or unreasonable in relation to the individual.

16 Application of Division 7 of Part IIIB of Act where value of property decreased after transfer

 (1) This section applies if:
 (a) property is transferred by an individual to a company or trust; and
 (b) on 1 January 2002, the property is owned or controlled by the company or trust; and
 (c) on 1 January 2002, the value of the property is less than it was at the time of its transfer; and
 (d) the decrease in the value of the property is not attributable to any conduct that the Commission reasonably believes was intended to avoid the operation, or minimise the effect, of Division 11A of Part IIIB of the Act.

 (2) The Commission must consider whether, in all the circumstances, the application of Division 7 of Part IIIB of the Act would be unfair or unreasonable in relation to the individual.

17 Application of Division 7 of Part IIIB of Act where company or trust retains value of transferred property

 (1) This section applies if:
 (a) property is transferred by an individual to a company or trust; and
 (b) before 1 January 2002, the company or trust transferred the property to another individual or other entity in consideration of an arm's length amount; and
 (c) the company or trust retained the amount or value of the consideration.

 (2) The Commission must consider whether, in all the circumstances, the application of Division 7 of Part IIIB of the Act would be unfair or unreasonable in relation to the individual.

18 Transfer by member of couple

 (1)