Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 40.885

Non - arm's length transactions

    If you incurred capital expenditure, or received an amount, under an * arrangement and:

  (a)   there is at least one other party to the arrangement with whom you did not deal at * arm's length; and

  (b)   apart from this section:

  (i)   the amount of the expenditure would be more than the * market value of what it was for; or

  (ii)   the amount you received would be less than the market value of what it was for;

the amount of expenditure, or the amount received, you take into account under this Subdivision is that market value.


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