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INCOME TAX ASSESSMENT ACT 1997 - SECT 725.50

When a direct value shift has consequences under this Division

    A * direct value shift under a * scheme involving * equity or loan interests in an entity (the target entity ) has consequences for you under this Division if, and only if:

  (a)   the target entity is a company or trust at some time during the * scheme period; and

  (b)   section   725 - 55 (Controlling entity test) is satisfied; and

  (c)   section   725 - 65 (Cause of the value shift) is satisfied; and

  (d)   you are an * affected owner of a * down interest, or an * affected owner of an * up interest, or both; and

  (e)   neither of sections   725 - 90 and 725 - 95 (about direct value shifts that are reversed) applies.

Note:   For a down interest of which you are an affected owner, the direct value shift has consequences under this Division only if section   725 - 70 (about material decrease in market value) is satisfied.


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