Pt 2-25 inserted by No 121 of 1997.
Div 70 inserted by No 121 of 1997.
the amount of the outgoing is instead taken to be that market value. This has effect for the purposes of applying this Act to you and also to the seller.
S 70-20 amended by No 101 of 2013, s 3 and Sch 2 items 24 and 25, by substituting "Note" for "Note 1" and repealing Note 2, applicable: (a) in respect of tax other than withholding tax - in relation to income years starting on or after the date mentioned in subsection 815-15(2) of the Income Tax (Transitional Provisions) Act 1997, as inserted; and (b) in respect of withholding tax - in relation to income derived, or taken to be derived, in income years starting on or after that date. Note 2 formerly read:
This section is disregarded in applying Division 13 (about transfer-pricing arrangements) of Part III of the Income Tax Assessment Act 1936.
S 70-20 amended by No 88 of 2013, s 3 and Sch 7 item 236, by substituting "*arm's length" for "arm's length" in para (b), effective 28 June 2013.
S 70-20 inserted by No 121 of 1997.