INCOME TAX ASSESSMENT ACT 1997 - SECT 725.220 Neutral direct value shifts

INCOME TAX ASSESSMENT ACT 1997 - SECT 725.220

  (1)   The consequences are different if the total decrease in * market value of your * down interests is equal to the sum of:

  (a)   the total increase in market value of your * up interests; and

  (b)   the total * discounts given to you on the issue of your up interests.

  (2)   In that case, this Subdivision and Subdivisions   725 - D to 725 - F apply to you as if the * direct value shift:

  (a)   consisted only of:

  (i)   the decreases in * market value of your * down interests; and

  (ii)   the issue at a * discount of your * up interests covered by subsection   725 - 145(2); and

  (iii)   the increases in market value of your up interests covered by subsection   725 - 145(3); and

  (b)   were from each of your down interests to each of your up interests.

  (3)   This section has effect despite section   725 - 160.