Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-95 - VALUE SHIFTING  

Division 725 - Direct value shifting affecting interests in companies and trusts  

Subdivision 725-A - Scope of the direct value shifting rules  

SECTION 725-80  

725-80   Who is an affected owner of a down interest?  

An entity is an affected owner of a ^* down interest if, and only if, the entity owns the down interest at the ^* decrease time and at least one of these paragraphs is satisfied:

(a) the entity is the controller;

(b) the entity was an ^* associate of the controller at some time during or after the ^* scheme period;

(c) the entity is an ^* active participant in the ^* scheme.