Document ID: chunk:federal_register_of_legislation:C2025C00014:section:26aj:p5
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 26AJ (pt 5/6)
Character Range: 231885–234538

loan in accordance with the ballot is not covered by paragraph (1)(b).
 (11) In this section:
arm's length value, in relation to property or services, means:
 (a) the amount that the recipient could reasonably have been expected to have been required to pay to obtain the property or services from the provider under a transaction where the parties to the transaction are dealing with each other at arm's length in relation to the transaction; or
 (b) if such an amount cannot be practically determined—such amount as represents a reasonable valuation of the property or services.
arrangement means:
 (a) any agreement, arrangement, understanding, promise or undertaking, whether express or implied, and whether or not enforceable, or intended to be enforceable, by legal proceedings; and
 (b) any scheme, plan, proposal, action, course of action or course of conduct, whether unilateral or otherwise.
associate has the same meaning in relation to a person as that expression has in relation to a person in section 318.
benchmark amount of interest, in relation to a loan, in relation to a year of income, means the amount of interest that would have accrued on the loan in respect of the year of income if the interest was calculated on the daily balance of the loan at the benchmark interest rate in relation to the year of income.
benchmark interest rate, in relation to a year of income, means the predominant per cent per annum interest rate on new, variable interest rate housing loans to individuals for owner‑occupation that is specified, for the June immediately preceding the financial year to which the year of income relates, in the "Interest Rates and Yields: Banks" table in the Statistical Directory of the Reserve Bank of Australia Bulletin dated July in that financial year.
deferred interest loan means a loan in respect of which interest is payable at a rate exceeding nil, other than:
 (a) a loan where the whole of the interest is due for payment within 6 months after the loan is made; or
 (b) a loan where:
 (i) the interest is payable by instalments; and
 (ii) the intervals between instalments do not exceed 6 months; and
 (iii) the first instalment is due for payment within 6 months after the loan is made.
investment means any mode of application of money for the purpose of gaining a return.
loan includes:
 (a) an advance of money; and
 (b) the provision of credit or any other form of financial accommodation; and
 (c) the payment of an amount for, on account of, on behalf of or at the request of a person where there is an obligation (whether express or implied) to repay the amount; and
 (d) a transaction (whatever its