Document ID: chunk:federal_register_of_legislation:C2004A02159:body:0:p10
Version: federal_register_of_legislation:C2004A02159
Segment Type: other
Provision Reference: 
Character Range: 21834–24349

(ii) the conditions specified in paragraphs 80 (5) (ha), (hb), (hc), (hd) and (n) of the Income Tax Assessment Act 1936 were taken to be applicable,
      the recipient taxpayer would not be deemed to have incurred a loss in the relevant year of income or would be deemed to have incurred a loss in the relevant year of income of an amount less than the amount of the loss referred to in paragraph (d); and
     (f) the associated taxpayer incurred the whole or a part of the relevant expenditure (which whole or part is in this sub-section referred to as the "prescribed relevant expenditure") to the recipient taxpayer for the purpose, or for purposes that included the purpose, of wholly or partly preventing the operation of section 13 of this Act in relation to the recipient taxpayer or, if the recipient taxpayer is a partnership, in relation to a partner or partners in the partnership, by securing that the recipient taxpayer would not be deemed to have incurred a loss in the relevant year of income or would be deemed to have incurred a loss in the relevant year of income of an amount less than the amount of the loss that the recipient taxpayer would be deemed to have incurred in the relevant year of income if an amount equal to the prescribed relevant expenditure were not included in the assessable income of the recipient taxpayer of the relevant year of income,
then, notwithstanding anything contained in the Income Tax Assessment Act 1936, a deduction is not allowable to the associated taxpayer in respect of any part of the prescribed relevant expenditure.

(2) Where—
     (a) the value of the trading stock of a taxpayer that, but for this sub-section, would be taken into account at the end of the year of income that commenced on 1 July 1978 (in this sub-section referred to as the "relevant year of income") for the purposes of the Income Tax Assessment Act 1936 is greater than the value of that trading stock that would be taken into account at that time if the taxpayer had valued that trading stock in such a way that the value of that trading stock to be taken into account at that time would have been the lowest possible amount at which the value of that trading stock could be taken into account at that time in accordance with Subdivision B of Division 2 of Part III of the Income Tax Assessment Act 1936;
     (b) if the taxpayer had valued the trading stock of the taxpayer in such a way that the value of that trading stock to be taken into account at the end of the relevant