Document ID: chunk:federal_register_of_legislation:C2014C00672:clause:5_2:p5
Version: federal_register_of_legislation:C2014C00672
Segment Type: clause
Provision Reference: sch 5 cl 2 (pt 5/5)
Character Range: 46221–47760

carry back tax offsets to which it was reasonable, at the time the scheme was entered into or carried out, to expect the corporate tax entity would be entitled; and
 (e) having regard to the relevant circumstances of the scheme, it would be concluded that a person, or one of the persons, who entered into or carried out the scheme or any part of the scheme did so for a purpose (whether or not the dominant purpose but not including an incidental purpose) of enabling the corporate tax entity to get a loss carry back tax offset.

Relevant circumstances
 (2) For the purposes of paragraph (1)(e), the relevant circumstances of the *scheme for a disposition include the following:
 (a) the extent to which the *corporate tax entity continued to conduct the same activities after the scheme as it did before the scheme;
 (b) if the corporate tax entity continued to use the same assets after the scheme as it did before the scheme—the extent to which those assets were assets for which equivalents were not readily available at the time of the scheme;
 (c) the matters referred to in subparagraphs 177D(b)(i) to (viii) of the Income Tax Assessment Act 1936 (applying subparagraph 177D(b)(iv) as if the reference to Part IVA of that Act were instead a reference to this section).

Application of this section to non‑share equity interests
 (3) This section:
 (a) applies to a *non‑share equity interest in the same way as it applies to a *membership interest; and
 (b) applies to an *equity holder in the same way as it applies to a *member.