TaxationActKB

Edit this topic to add a description to the TaxationActKB

PERSON the Taxpayer
THING the act or practice
PERSONTHING the company or partnership or trust estate

LINK the Taxpayer TO http://www5.austlii.edu.au/au//legis/cth/consol_act/itaa1936240/s177a.html#taxpayer
LINK the act or practice TO http://www5.austlii.edu.au/au//legis/cth/consol_act/itaa1936240/s25a.html
LINK the company or partnership or trust estate interpretation TO http://www5.austlii.edu.au/au//legis/cth/consol_act/itaa1936240/s6.html

GOAL RULE Income Tax Assessment Act 1936 (Cth)- s25A(3) PROVIDES
Income Tax Assessment Act 1936 s25A(2) does not apply in relation to the
sale by a taxpayer of property ONLY IF
the Commissioner has had regard to the relevant matters in Income Tax
Assessment Act 1936 s25A(3)(a) to (d)
AND the Commissioner does consider that it is not appropriate that that
subsection should apply in relation to the sale of the property by the
taxpayer

RULE Income Tax Assessment Act 1936 (Cth)- s25A(3) - Considerations PROVIDES
the Commissioner has had regard to the relevant matters in Income Tax
Assessment Act 1936 s25A(3)(a) to (d) ONLY IF
the Commissioner has considered (a) the extent to which the assets of
the company, partnership or trust estate, as the case may be, referred
to in paragraph (2)(a), immediately before the time of sale, consisted
of the property referred to in subparagraph (2)(b)(i) or the interest
referred to in subparagraph (2)(b)(ii) AND
the Commissioner has considered (b) the nature and extent, immediately
before the time of sale, of the taxpayer's control of the company,
partnership or trust estate, as the case may be, referred to in
paragraph (2)(a) including, in the case of a company, the nature and
the extent of the taxpayer's shareholding in the company

RULE Income Tax Assessment Act 1936 (Cth)- s25A(3) - Considerations PROVIDES
the Commissioner has had regard to the relevant matters in Income Tax
Assessment Act 1936 s25A(3)(a) to (d) ONLY IF
the Commissioner has considered (c) the circumstances surrounding any other sale, whether or not by the taxpayer, of shares in the company, or an interest in the partnership or trust estate, as the case may be, referred to in paragraph 2(a) being a sale at a time when the property of that company, partnership or trust estate included the property referred to in subparagraph (2)(b)(i) or the interest referred to in subparagraph (2)(b)(ii), as the case may be AND
the Commissioner has considered relevant (d) that it is not appropriate that that subsection should apply in relation to the sale of the property by the taxpayer

RULE Income Tax Assessment Act 1936 (Cth)- s25A(2) PROVIDES
Income Tax Assessment Act 1936 s25A(2) is subject to Subsection (3)
to assess the income includes the profit ONLY IF
after 23 August 1983, a taxpayer sold or sells property AND
at the time of sale of the relevant property,
the company, partnership or trustee of the trust estate, held property OR
the company, partnership or trustee of the trust estate, held an interest,
through one or more interposed companies, partnerships or trusts, in property

GOAL RULE Income Tax Assessment Act 1936 (Cth)- s25A(2) PROVIDES
subsection (a) applies ONLY IF
that relevant property are shares in a private company OR
that relevant property is an interest in a partnership OR
that relevant property is an interest in a private trust estate

RULE Income Tax Assessment Act 1936 (Cth)- s25A(2) PROVIDES
subsection (b) applies ONLY IF
that relevant property was acquired for the purpose of
profit-making by sale by the company, partnership or trustee, as the case may be AND
was not excepted property of the company, partnership or trust estate, as the case may be

RULE Income Tax Assessment Act 1936 (Cth)- s25A(2) PROVIDES
s25A(2) applies ONLY IF
s25A(2)(a) applies and
s25A(2)(b) applies