Commonwealth Consolidated Acts Commonwealth Consolidated ActsIn this Part, unless the contrary intention appears:
"actively involved with a primary production enterprise" has the meaning given by section 1207J.
"actual transfer" , in relation to property or services, means a transfer of the property or services other than a transfer that is taken to have been made because of subsection 1207H(1), (3) or (4).
"adjusted net primary production income" (in Division 11) has the meaning given by section 1209.
"adjusted net value" (in Division 11) has the meaning given by section 1208Z.
"arm's length amount" , in relation to an actual transfer of property or services to a company or a trust, means the amount that the company or trust could reasonably be expected to have been required to pay to obtain the property or the services concerned from the transferor under a transaction where the parties to the transaction are dealing with each other at arm's length in relation to the transaction.
"asset attribution percentage" has the meaning given by section 1207X.
"associate" has the meaning given by section 1207C.
"attributable stakeholder" has the meaning given by section 1207X.
"attribution period" has the meaning given by section 1208D.
"business partnership" means a partnership within the meaning of the Income Tax Assessment Act 1997 .
"child" : without limiting who is a child of a person for the purposes of this Part, each of the following is the child of a person:
(a) an adopted child, step - child or foster - child of the person;
(b) someone who is a child of the person within the meaning of the Family Law Act 1975 .
"company" has the same meaning as in the Income Tax Assessment Act 1997 .
"concessional primary production trust" has the meaning given by section 1208U.
"constituent document" , in relation to a company, means:
(a) the memorandum and articles of association of the company; or
(b) any rules or other documents constituting the company or governing its activities.
"control" includes control as a result of, or by means of, trusts, agreements, arrangements, understandings and practices, whether or not having legal or equitable force and whether or not based on legal or equitable rights.
"controlled private company" has the meaning given by section 1207Q.
"controlled private trust" has the meaning given by section 1207V.
"decision-making principles" means decision - making principles under section 1209E.
"derivation period" has the meaning given by section 1208C.
"designated private company" has the meaning given by section 1207N.
"designated private trust" has the meaning given by section 1207P.
"director" includes any person (by whatever name called) occupying the position of a director of a company.
"entity" means any of the following:
(a) an individual;
(b) a company;
(c) a trust;
(d) a business partnership;
(e) a corporation sole;
(f) a body politic.
"group" includes:
(a) one entity alone; or
(b) a number of entities, even if they are not in any way associated with each other or acting together.
"income attribution percentage" has the meaning given by section 1207X.
"interest in a share" has the meaning given by section 1207U.
"majority voting interest" , in relation to a company, has the meaning given by section 1207E.
"primary production enterprise" means a business in Australia that consists of primary production.
"property" includes money.
"relative" , in relation to a person, has the meaning given by section 1207B.
"scheme" means:
(a) any agreement, arrangement, understanding, promise or undertaking, whether express or implied and whether or not enforceable, or intended to be enforceable, by legal proceedings; or
(b) any scheme, plan, proposal, action, course of action or course of conduct, whether there are 2 or more parties or only one party involved.
"services" includes any benefit, right (including a right in relation to, and an interest in, real or personal property), privilege or facility and, without limiting the generality of the foregoing, includes a benefit, right, privilege, service or facility that is, or is to be, provided under:
(a) an arrangement for or in relation to:
(i) the performance of work (including work of a professional nature), whether with or without the provision of property; or
(ii) the provision of, or of the use of facilities for, entertainment, recreation or instruction; or
(iii) the conferring of benefits, rights or privileges for which remuneration is payable in the form of a royalty, tribute, levy or similar exaction; or
(b) a contract of insurance; or
(c) an arrangement for or in relation to the lending of money.
"share" includes stock.
"spouse" includes, in relation to a person who is a member of a couple (as defined by section 4), the other member of the couple.
"subsidiary" has the same meaning as in the Corporations Act 2001 .
"sufficiently influenced" , in relation to a company, has the meaning given by section 1207D.
"transfer" :
(a) in relation to property--includes dispose of (whether by assignment, declaration of trust or otherwise) or provide; and
(b) in relation to services--includes allow, confer, give, grant, perform or provide.
"trust" means a person in the capacity of trustee or, as the case requires, a trust estate.
"trustee" has the same meaning as in the Income Tax Assessment Act 1997 .
"underlying transfer" , in relation to a transfer of property or services to an entity, means:
(a) if that transfer was an actual transfer--the actual transfer; or
(b) if that transfer was taken to have been made because of subsection 1207H(1)--the actual transfer referred to in that subsection; or
(c) if that transfer was taken to have been made because of subsection 1207H(3)--the actual transfer referred to in paragraph 1207H(3)(b); or
(d) if that transfer was taken to have been made because of subsection 1207H(4)--the actual transfer referred to in paragraph 1207H(4)(c).
"voting power" has the meaning given by section 1207S.