Document ID: chunk:federal_register_of_legislation:F2015L00068:front:0:p50
Version: federal_register_of_legislation:F2015L00068
Segment Type: other
Provision Reference: 
Character Range: 127978–130666

stakeholders of the company or trust.

 (2) This section also applies if, in relation to a transfer of property to a company or trust:
 (a) the transfer is made by an attributable stakeholder of the company or trust; and
 (b) after the transfer, there were 2 or more attributable stakeholders of the company or trust.

 (3) The Commission must take into account the income attribution percentage of each attributable stakeholder of the recipient company or recipient trust, before and after the transfer of the property.

10 Transfer to company or trust by individual who becomes attributable stakeholder

 (1) This section applies if, in relation to a transfer of property to a company or a trust:
 (a) the transfer is made by an individual who is not an attributable stakeholder of the company or trust; and
 (b) as a result of the transfer, the individual is an attributable stakeholder.

 (2) The Commission must take into account the income attribution percentage of each attributable stakeholder of the company or trust, before and after the transfer of the property.

Part 3 Disposal of ordinary income (on or after 1 January 2002) by company or trust

11 Purpose of Part 3

  This Part sets out decision-making principles with which the Commission must comply in making a determination for subsection 52ZZZC (3) of the Act.

12 Disposal to attributable stakeholder

  The Commission must take into account whether, in relation to a transfer of ordinary income of a company or trust in accordance with subsection 52ZZZC (1) of the 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