Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-95 - VALUE SHIFTING  

Division 727 - Indirect value shifting affecting interests in companies and trusts, and arising from non-arm ' s length dealings  

Subdivision 727-F - Consequences of an indirect value shift  

Affected interests

SECTION 727-465  

727-465   Affected interests in the gaining entity  

If immediately before the ^* IVS time the ^* gaining entity is a company or trust (except one listed in section 727-125 (about superannuation entities)), these are the affected interests in the gaining entity:

(a) each ^* equity or loan interest that an ^* affected owner owns in the gaining entity immediately before the ^* IVS time; and

(b) each equity or loan interest that:

(i) an affected owner owns in another affected owner immediately before the IVS time; and

(ii) is an ^* indirect equity or loan interest in the gaining entity;

(except one covered by an exception in section 727-470 ).