Document ID: chunk:federal_register_of_legislation:C2005C00508:clause:1_1208k
Version: federal_register_of_legislation:C2005C00508
Segment Type: clause
Provision Reference: sch 1 cl 1208K
Character Range: 57881–58779

1208K  Individual disposes of asset to company or trust

 (1) If:
 (a) an individual transfers property to a company or trust on or after 1 January 2002; and
 (b) either:
 (i) as a result of the transfer, the individual became an attributable stakeholder of the company or trust; or
 (ii) at the time of the transfer, the individual was an attributable stakeholder of the company or trust; and
 (c) the transfer amounts to a disposal by the individual of an asset of the individual;
the Secretary may, by writing, determine that Division 2 of Part 3.12, section 93U and sections 198F to 198MA (inclusive) apply to that disposal as if:
 (d) the amount of the disposition were nil; or
 (e) the amount of the disposition were reduced by the amount specified in the determination.

 (2) In making a decision under this section, the Secretary must comply with any relevant decision‑making principles.