223 Aggregation of particular relevant acquisitions
(1) This section applies for aggregating relevant acquisitions that together
form, evidence, give effect to or arise from what is, substantially 1
arrangement.
(2) For assessing corporate trustee duty on each of the relevant
acquisitions, the acquisitions must be aggregated and treated as a single
relevant acquisition.
(3) For subsection (1) , all relevant circumstances
relating to the relevant acquisitions must be taken into account in deciding
whether they together form, evidence, give effect to or arise from what is,
substantially 1 arrangement.
(4) For subsection (3) , relevant circumstances
include the following—
(a) whether any of the acquisitions are conditional
on entry into, or completion of, any of the other acquisitions;
(b) whether
the parties to any of the acquisitions are the same;
(c) whether any party to
an acquisition is a related person of another party to any of the other
acquisitions;
(d) the time over which the acquisitions take place;
(e)
whether, after the acquisitions take place, the acquirers’ interests will be
used together or dependently with one another;
(f) whether, before the
acquisitions take place, the interests were used together or dependently with
one another.
(5) Corporate trustee duty imposed on the relevant acquisition
aggregated under this section must—
(a) be assessed on the total of the
dutiable values of the acquisitions when the liability for corporate trustee
duty for each of the acquisitions arose; and
(b) be apportioned between the
acquisitions as decided by the commissioner.
(6) The acquirer must, when
lodging the corporate trustee duty statement relating to the acquisition, give
notice to the commissioner stating details known to the acquirer about—
(a)
all of the interests of the acquirer and related persons of the acquirer
included or to be included in the arrangement mentioned in subsection (1) ;
and
Under the
Administration Act , the requirement under this subsection is a lodgement
requirement for which a failure to comply is an offence under section 121of
that Act.