Document ID: chunk:federal_register_of_legislation:C2025C00014:section:345:p1
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 345 (pt 1/3)
Character Range: 1905951–1908611

345  Deemed transfers of property or services
 (1) For the purposes of this Subdivision, where an entity (in this subsection called the prime entity) causes another entity to actually transfer property or services to a trust, the prime entity (instead of the other entity) is to be taken to have transferred the property or services to the trust.
 (2) For the purposes of this Subdivision, where:
 (a) the trustee of a trust issues units in the trust to an entity (in this subsection called the first entity) in the first entity's capacity as a manager, underwriter or dealer in relation to the marketing or placement of the units; and
 (b) in the course of the marketing or placement of the units, the units are disposed of by the first entity to another entity (in this subsection called the second entity); and
 (c) at a particular time (in this subsection called the second entity's transfer time), the second entity transfers property or services to the first entity as consideration for the acquisition of the units; and
 (d) the first entity has actually transferred, or actually transfers, property or services (in this subsection called the original property or services) to the trust for the sole purpose of acquiring the units;
the second entity is taken to have transferred the original property or services (instead of the first entity) at the second entity's transfer time.
 (3) A reference in subsection (2) to a unit in a trust is a reference to an interest (however described) in any of the income or property of the trust.
 (4) Subsections (1) and (2) do not limit the operation of subsection (5).
 (5) Where, under a scheme:
 (a) an entity (in this subsection called the scheme entity) actually transfers property or services to another entity; and
 (b) property or services are actually transferred to a trust at a particular time otherwise than by the scheme entity;
the Commissioner may, for the purposes of this Subdivision, treat the property or services mentioned in paragraph (b) as having been transferred by the scheme entity (instead of by any other entity) to the trust at that time.
 (6) Where:
 (a) apart from subsections (8), (10) and (11), a partnership transfers property or services to a trust at a particular time (in this subsection called the transfer time); and
 (b) at a later time (in this subsection called the cessation time), the partnership ceases to exist for the purposes of this Act;
then, for the purpose of determining whether an entity that was a partner in the partnership immediately before the cessation time is an eligible transferor in relation to the trust at a time after the cessation time, each such