Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 727.700

  (1)   If the * indirect value shift is a * 95% services indirect value shift, this Subdivision does not apply to a * realisation event that:

  (a)   happens to an * affected interest in the * losing entity that is owned by an entity (the owner ); and

  (b)   is covered by subsection   727 - 610(2);

unless:

  (c)   the conditions in section   727 - 705 are met for the indirect value shift; or

  (d)   the conditions in section   727 - 710, 727 - 715 or 727 - 720 are met for the indirect value shift and for that realisation event.

  (2)   An * indirect value shift is a 95% services indirect value shift if, and only if, to the extent of at least 95% of their total * market value, the * greater benefits consist entirely of:

  (a)   a right to have services that are covered by section   727 - 240 provided directly by the * losing entity to the * gaining entity; or

  (b)   services that are covered by section   727 - 240 and have been, are being, or are to be, so provided;

or both.

  (3)   This section does not limit any other exclusion in this Subdivision or in Subdivision   727 - C.