Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 240.85

    If, at or after the end of the * arrangement, an amount is paid to the * notional seller by, or on behalf of, the * notional buyer to acquire the property, the following provisions have effect:

  (a)   the amount paid is not included in the notional seller's assessable income;

  (b)   the notional buyer cannot deduct the payment;

  (c)   the notional buyer is taken to continue to own the property;

  (d)   the transfer to the notional buyer of legal title to the property is not taken to be a disposal of the property by the notional seller.