INCOME TAX ASSESSMENT ACT 1936 - SECT 346 Circumstances in which a transfer of property or services is an eligible business transaction
INCOME TAX ASSESSMENT ACT 1936 - SECT 346
Circumstances in which a transfer of property or services is an eligible business transaction An underlying transfer of property or services to a trust is an
eligible business transaction if, and only if, at or about the time of the
transfer, identical or similar property or services were transferred by the
transferor in the ordinary course of business to ordinary clients or customers
under arm's length transactions in similar circumstances and subject to
identical or similar terms and conditions as those that applied in relation to
the underlying transfer of the property or services concerned.