INCOME TAX ASSESSMENT ACT 1997 - SECT 40.885 Non - arm's length transactions
INCOME TAX ASSESSMENT ACT 1997 - SECT 40.885
Non - arm's length transactionsIf you incurred capital expenditure, or received an amount, under an * arrangement and:
(a) there is at least one other party to the arrangement with whom you did not deal at * arm's length; and
(i) the amount of the expenditure would be more than the * market value of what it was for; or
(ii) the amount you received would be less than the market value of what it was for;
the amount of expenditure, or the amount received, you take into account under
this Subdivision is that market value.