Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 195.105

  (1)   This Subdivision has effect for the purposes of all * taxation laws, to the exclusion of those laws as they would otherwise apply in relation to * CCIVs and their members (in their capacity as such).

Note:   Subsection   (3) excludes some taxation laws from this subsection.

  (2)   Without limiting the generality of subsection   (1), the purposes referred to in that subsection include how * taxation laws apply in relation to other entities, in so far as that application is affected by the application of those laws in relation to * CCIVs and their members (in their capacity as such).

Note:   For example, in applying subsection   318(1) of the Income Tax Assessment Act 1936 to determine whether a CCIV is an associate of a natural person for the purposes of a provision affecting the income tax payable by that person:

(a)   paragraph   318(1)(d) of that Act (providing for when a trustee of a trust is an associate of the natural person) would apply; and

(b)   paragraph   318(1)(e) of that Act (providing for when a company is an associate of the natural person) would not apply.

  (3)   Subsections   (1) and (2) do not apply to the following * taxation laws:

  (a)   the Foreign Acquisitions and Takeovers Act 1975 ;

  (b)   legislative instruments made under that Act.