Income Tax Assessment (1936 Act) Amendment (Period of Review) Regulations 2022 (F2022L01604)

Schedule 1   Amendments

Income Tax Assessment (1936 Act) Regulation 2015

1   Section 14 (table item 1, column 2, paragraph (b))

Repeal the paragraph, substitute:

(b) any of the following apply:

(i) the parties were not dealing with each other at arm's length in relation to the transaction;

(ii) the transaction results in an amount of $200,000 or more being included in or allowable as a deduction from the assessable income of any of the parties in respect of the assessment year;

(iii) the transaction involves one or more CGT events, and the sum of the capital proceeds from the events is $200,000 or more;