DUTIES ACT 2001 - SECT 435 Matters to be considered in deciding purpose for scheme

DUTIES ACT 2001 - SECT 435

435 Matters to be considered in deciding purpose for scheme

(1) For section 433 , the following matters must be taken into account in deciding an entity’s purpose in entering into or carrying out the scheme from which the avoider obtained, or would obtain, a duty benefit—

(a) the way in which the scheme was entered into or carried out;

(b) the form and substance of the scheme, including—

(i) the legal rights and obligations involved in the scheme; and

(ii) the economic and commercial substance of the scheme;

(c) when the scheme was entered into and the length of the period during which the scheme was carried out;

(d) the purpose of this Act or a provision of this Act, whether or not the purpose is expressly stated;

(e) the effect that this Act would have in relation to the scheme apart from this chapter;

(f) any change in the avoider’s financial position that has resulted, will result, or may reasonably be expected to result from the scheme;

(g) any change in the financial position of any person who has, or has had, any connection, whether of a business, family or other nature, with the avoider, being a change that has resulted, will result, or may reasonably be expected to result from the scheme;

(h) any other consequence for the avoider or a person mentioned in paragraph (g) of the scheme having been entered into or carried out;

(i) the nature of the connection, whether of a business, family or other nature, between the avoider and any person mentioned in paragraph (g) ;

(j) the circumstances surrounding the scheme.

(2) Subsection (1) applies for considering an entity’s purpose in entering into or carrying out part of a scheme from which the avoider obtains, or would obtain, a duty benefit, as if the part were itself the scheme from which the avoider obtains, or would obtain, the benefit.