Document ID: chunk:federal_register_of_legislation:F2025L00273:reg:24
Version: federal_register_of_legislation:F2025L00273
Segment Type: reg
Provision Reference: reg 24
Character Range: 12175–12857

24  Application of asset disposal provisions where company or trust retains value of transferred asset

        1.     This section applies if:

           1.     an asset is disposed of by an individual to a company or trust; and
           2.     before 1 January 2002, the company or trust transferred the asset to another individual or other entity in consideration of an arm's length amount; and
           3.     the company or trust retained the amount or value of the consideration.

        1.     The Commission must consider whether, in all the circumstances, the application of the asset disposal provisions would be unfair or unreasonable in relation to the individual.