Individual disposes of asset to company or trust
1208K Individual disposes of asset to company or trust
If:
an individual transfers property to a company or trust on or after 1 January 2002; and
either:
as a result of the transfer, the individual became an attributable stakeholder of the company or trust; or
at the time of the transfer, the individual was an attributable stakeholder of the company or trust; and
the transfer amounts to a disposal by the individual of an asset of the individual;
the Secretary may, by writing, determine that Division 2 of Part 3.12 and sections 93U, 93UA and 198F to 198MA (inclusive) apply to that disposal as if:
the amount of the disposition were nil; or
the amount of the disposition were reduced by the amount specified in the determination.
In making a decision under this section, the Secretary must comply with any relevant decision‑making principles.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.