Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies in relation to a benefit (the relevant benefit ) given by an entity to a * controller (for imputation purposes) of the entity, or to an * associate of such a controller, if:
(a) the controller or associate:
(i) makes a * franked distribution to the entity; or
(ii) is the trustee of the trust in relation to which a * trust share amount of the entity arises in relation to a franked distribution that * flows indirectly to the entity; and
(b) the benefit is, or was, given to the controller or associate at any time during the period that starts 3 years before, and ends 3 years after, the distribution is made or the trust share amount arises (as appropriate).
(2) For the purposes of paragraph 207 - 120(2)(d), the controller or * associate is taken to have obtained the relevant benefit because of a * distribution event in relation to the * franked distribution or * trust share amount.
(3) For the purposes of paragraph 207 - 130(1)(c), and at least to the extent of the relevant benefit, the controller or * associate is taken to have benefited from a * distribution event or * arrangement that caused section 207 - 120 to apply in relation to the * franked distribution or * trust share amount.
Commissioner's power not to apply subsection (2) or (3)
(4) Subsection (2) or (3) does not apply in relation to a benefit if the Commissioner is satisfied, having regard to all the circumstances, that it would be unreasonable to apply that subsection.