INCOME TAX ASSESSMENT ACT 1997 - SECT 240.20 Notional sale of property by notional seller and notional acquisition of property by notional buyer

INCOME TAX ASSESSMENT ACT 1997 - SECT 240.20

  (1)   The * notional seller is taken to have disposed of the property by way of sale to the * notional buyer, and the notional buyer is taken to have acquired it, at the start of the * arrangement.

  (2)   The * notional buyer is taken to own the property until:

  (a)   the * arrangement ends; or

  (b)   the notional buyer becomes the * notional seller under a later arrangement to which this Division applies.