Document ID: chunk:federal_register_of_legislation:C2005C00508:clause:1_1207a:p1
Version: federal_register_of_legislation:C2005C00508
Segment Type: clause
Provision Reference: sch 1 cl 1207A (pt 1/3)
Character Range: 7376–10240

1207A  Definitions

  In this Part, unless the contrary intention appears:

actively involved with a primary production enterprise has the meaning given by section 1207J.

actual transfer, in relation to property or services, means a transfer of the property or services other than a transfer that is taken to have been made because of subsection 1207H(1), (3) or (4).

adjusted net primary production income (in Division 11) has the meaning given by section 1209.

adjusted net value (in Division 11) has the meaning given by section 1208Z.

arm's length amount, in relation to an actual transfer of property or services to a company or a trust, means the amount that the company or trust could reasonably be expected to have been required to pay to obtain the property or the services concerned from the transferor under a transaction where the parties to the transaction are dealing with each other at arm's length in relation to the transaction.

asset attribution percentage has the meaning given by section 1207X.

associate has the meaning given by section 1207C.

attributable stakeholder has the meaning given by section 1207X.

attribution period has the meaning given by section 1208D.

business partnership means a partnership within the meaning of the Income Tax Assessment Act 1997.

child, in relation to a person, includes an adopted child, a step‑child or a foster‑child.

company has the same meaning as in the Income Tax Assessment Act 1997.

concessional primary production trust has the meaning given by section 1208U.

constituent document, in relation to a company, means:
 (a) the memorandum and articles of association of the company; or
 (b) any rules or other documents constituting the company or governing its activities.

control includes control as a result of, or by means of, trusts, agreements, arrangements, understandings and practices, whether or not having legal or equitable force and whether or not based on legal or equitable rights.

controlled private company has the meaning given by section 1207Q.

controlled private trust has the meaning given by section 1207V.

decision‑making principles means decision‑making principles under section 1209E.

derivation period has the meaning given by section 1208C.

designated private company has the meaning given by section 1207N.

designated private trust has the meaning given by section 1207P.

director includes any person (by whatever name called) occupying the position of a director of a company.

entity means any of the following:
 (a) an individual;
 (b) a company;
 (c) a trust;
 (d) a business partnership;
 (e) a corporation sole;
 (f) a body politic.

group includes:
 (a) one entity alone; or
 (b) a number of entities, even if they are not in any way associated with each other or acting together.

income attribution percentage has the meaning given by section