Document ID: chunk:federal_register_of_legislation:C2025C00014:section:121g:p3
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 121G (pt 3/7)
Character Range: 1162269–1164918

relevant property;
the diverted income of the taxpayer of the relevant year of income shall include the relevant amount.
 (4) Where:
 (a) a taxpayer, being a taxpayer in the capacity of a trustee of a trust estate, has acquired property (in this subsection referred to as the relevant property) under a tax avoidance agreement or by reason of an act, transaction or circumstance occurring as part of, in connection with or as a result of a tax avoidance agreement;
 (b) by reason that the taxpayer derives any income from the relevant property, an amount (in this subsection referred to as the relevant amount) would, apart from the operation of the relevant exempting provisions, be included in the assessable income of the trust estate of a year of income otherwise than under Division 5, section 97, section 99B or section 100;
 (c) apart from this Division, the relevant amount would not be included in the assessable income of the trust estate of the year of income; and
 (e) so much of the amount or value of the consideration provided by the taxpayer under or in connection with the tax avoidance agreement as the Commissioner is satisfied was provided in respect of the acquisition by the taxpayer of the relevant property substantially exceeds the amount or value of the consideration that might reasonably be expected to have been provided by the taxpayer in respect of the acquisition of the relevant property if the taxpayer were liable to pay tax, in respect of any income derived by the taxpayer from the relevant property, at the public company rate applicable for the financial year in which the taxpayer acquired the relevant property;
the diverted trust income of the trust estate of the year of income shall include the relevant amount.
 (5) Where:
 (a) a taxpayer, being a taxpayer in the capacity of a trustee of a trust estate, has acquired property (in this subsection referred to as the relevant property), being an interest in a partnership, under a tax avoidance agreement or by reason of an act, transaction or circumstance occurring as part of, in connection with or as a result of a tax avoidance agreement;
 (b) by reason of the ownership by the taxpayer of the relevant property, an amount (in this subsection referred to as the relevant amount) would, apart from the operation of the relevant exempting provisions, be included, under Division 5, in the assessable income of the trust estate of a year of income (in this subsection referred to as the relevant year of income);
 (c) apart from this Division, the relevant amount would not be included in the assessable income of the trust estate of the relevant year of