Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An indirect value shift does not have consequences under Division 727 of the Income Tax Assessment Act 1997 if, to the extent of at least 95% of their total market value, the greater benefits consist entirely of:
(a) a right to have services that are covered by section 727 - 240 of that Act provided directly by the losing entity to the gaining entity; or
(b) services that are covered by that section and have been, are being, or are to be, so provided;
or both, and the IVS time for the scheme that results in the indirect value shift is before:
(c) unless paragraph (d) applies--the start of the losing entity's 2003 - 2004 income year; or
(d) if the losing entity's 2002 - 2003 income year ends before 30 June 2003--the start of the losing entity's 2004 - 2005 income year.
How subsection (1) applies to a presumed indirect value shift
(2) For the purposes of section 727 - 850 (about a presumed indirect value shift affecting a realisation event) of the Income Tax Assessment Act 1997 , subsection (1) of this section applies to the presumed indirect value shift:
(a) on the assumptions set out in subsection 727 - 865(3) of that Act; and
(b) as if the exclusion in subsection (1) of this section were an exclusion in Subdivision 727 - C of that Act.