Published on 22 Nov 13
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
Whenever clients are dealing with related parties there are a number of aspects that need to be carefully considered. This paper uses a case study to highlight the areas that need to be considered when acquiring assets from a member or their associate. It has a particular focus on the following:
- application of s66 of the SIS Act to these types of arrangements
- how to identify who is a related party
- application of the non-arm’s length income provisions
- dealing at arm’s length – section 109 of SIS Act.
Current at 26 May 2009
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