INCOME TAX ASSESSMENT ACT 1997 - SECT 727.260 Shift down a wholly - owned chain of entities

INCOME TAX ASSESSMENT ACT 1997 - SECT 727.260

  (1)   An * indirect value shift does not have consequences under this Division if the * gaining entity is a * wholly - owned subsidiary of the * losing entity throughout the * IVS period.

Exception: impact on market value of primary loan interest

  (2)   However, subsection   (1) does not apply if the * indirect value shift has produced a * disaggregated attributable decrease, in the * market value of an * affected interest in the * losing entity that is also a * primary loan interest in an entity covered by subsection   (3), for the owner of the interest.

  (3)   This subsection covers:

  (a)   the * losing entity; and

  (b)   an entity that owns * primary equity interests in an entity that this subsection covers because of one or more previous applications of it.

Table of sections

727 - 300   What the rules in this Subdivision are for

727 - 315   Transfer, for its adjustable value, of depreciating asset acquired for less than $1,500,000