Section 1208K — Social Security Act 1991: Individual disposes of asset to company or trust

(1) If: (a) an individual transfers property to a company or trust on or after 1 January 2002; and (b) either: (i) as a result of the transfer, the individual became an attributable stakeholder of the company or trust; or (ii) at the time of the transfer, the individual was an attributable stakeholder of the company or trust; and (c) the transfer amounts to a disposal by the individual of an asset of the individual; the Secretary may, by writing, determine that Division 2 of Part 3.12 and sections 93U, 93UA and 198F to 198MA (inclusive) apply to that disposal as if: (d) the amount of the disposition were nil; or (e) the amount of the disposition were reduced by the amount specified in the determination. (2) In making a decision under this section, the Secretary must comply with any relevant decision-making principles.