Document ID: chunk:federal_register_of_legislation:C2024C00504:section:3:p4
Version: federal_register_of_legislation:C2024C00504
Segment Type: section
Provision Reference: s 3 (pt 4/4)
Character Range: 10903–13222

subparagraph (ii) or additional tax referred to in subparagraph (iii) payable by the company or trustee.
 (3) In this Act, a reference to securing the inability or likely inability of a company or trustee to pay income tax payable by the company or trustee or future income tax payable by the company or trustee shall be read as including a reference to securing the continuation of an inability or likely inability of a company or trustee to pay income tax payable by the company or trustee or future income tax payable by the company or trustee, as the case may be.
 (4) In this Act:
 (a) a reference to a person shall, unless the contrary intention appears, be read as not including a reference to a company;
 (b) a reference to an arrangement or transaction shall be read as including a reference to both an arrangement and a transaction and to any series or combination of arrangements or transactions or arrangements and transactions;
 (c) a reference to a person who aids, abets, counsels or procures another person to enter into an arrangement or transaction shall be read as including a reference to a person who, jointly with another person or other persons, aids, abets, counsels or procures some person to enter into an arrangement or transaction;
 (d) a reference to an arrangement shall be read as a reference to an arrangement, agreement, understanding or scheme:
 (i) whether formal or informal;
 (ii) whether express or implied; and
 (iii) whether or not enforceable, or intended to be enforceable, by legal proceedings; and
 (e) a reference to income tax, income tax moneys or future income tax payable by a trustee shall be read as a reference to income tax, income tax moneys or future income tax payable by a person (including a company) in the capacity of a trustee, whether or not the person is personally liable for the income tax or income tax moneys or will be personally liable for the future income tax, as the case may be.
 (5) For the purposes of subsection 10(2), section 11 and section 12, the liability of a company or trustee to pay income tax moneys in respect of a particular act or transaction shall not be taken not to be finally determined by reason only of the possibility of the Commissioner determining that further income tax is payable in relation to that act or transaction.