Individual disposes of asset to company or trust
52ZZW 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 Commission may, by writing, determine that Subdivisions BA and BB of Division 11 and sections 45UT and 45UTA 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 Commission must comply with any relevant decision‑making principles.
This Act’s bill:Second reading speech
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