(1) This section applies in relation to the relevant taxpayer, in relation to the DPT tax benefit, if the profit made as a result of the scheme by each entity covered by subsection (2) reasonably reflects the economic substance of the entity's activities in connection with the scheme.
(2) This subsection covers an entity if:
(a) the entity is the relevant taxpayer or an associate (within the meaning given by section 318) of the relevant taxpayer; and
(b) any of the following apply:
(i) the entity entered into or carried out the scheme or any part of the scheme;
(ii) the entity is otherwise connected with the scheme or any part of the scheme.
(3) However, subsection (2) does not cover an entity if the entity's role in the scheme is minor or ancillary.
(4) In determining whether the profit made as a result of the scheme by an entity reasonably reflects the economic substance of the entity's activities in connection with the scheme, have regard to:
(a) the functions that the entity performs in connection with the scheme, taking into account assets used and risks assumed by the entity in connection with the scheme; and
(b) the documents covered by section 815-135 of the Income Tax Assessment Act 1997 , to the extent that they are relevant to the matters mentioned in paragraph (a) or to any other aspect of the determination; and
(c) any other relevant matters.