Document ID: chunk:federal_register_of_legislation:C2025C00014:section:102aab:p1
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 102AAB (pt 1/5)
Character Range: 701750–704351

102AAB  Interpretation
  In this Division, unless the contrary intention appears:
1 July 1990 net worth, in relation to a trust estate, means the market value, as at the beginning of 1 July 1990, of the assets of the trust estate, reduced by the liabilities of the trust estate as at the beginning of that day.
accounts has the same meaning as in Part X.
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 102AAK(1), (2), (5), (6), (8), (10) or (11).
arm's length amount, in relation to an actual transfer of property or services to a trust estate, means the amount that the trustee 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.
associate has the same meaning as in Part X.
attributable income, in relation to a trust estate, has the meaning given by section 102AAU.
attributable taxpayer has the meaning given by section 102AAT.
attribution account payment has the same meaning as in Part X.
attribution debit has the same meaning as in Part X.
Australian entity has the same meaning as in Part X.
Australian trust has the same meaning as in Part X.
base interest rate for a day has the same meaning as in section 8AAD of the Taxation Administration Act 1953.
CFC has the same meaning as in Part X.
controlled foreign trust has the same meaning as in Part X.
de facto relationship means:
 (a) a relationship between 2 persons (whether of the same sex or different sexes) that is registered under a law of a State or Territory prescribed for the purposes of section 2E of the Acts Interpretation Act 1901 as a kind of relationship prescribed for the purposes of that section; or
 (b) a relationship between 2 persons (whether of the same sex or different sexes) who, although not legally married to each other, live with each other on a genuine domestic basis in a relationship as a couple.
depreciation provision means:
 (a) any provision of Division 40 of the Income Tax Assessment Act 1997 (other than Subdivision 40‑E); or
 (b) any provision of Division 43 of that Act.
designated concession income has the same meaning as in Part X.
discretionary trust estate means a trust estate where:
 (a) both of the following conditions are satisfied:
 (i) a person (who may include the trustee) is empowered (either unconditionally or on the fulfilment of a condition)