Section EW 48 — Income Tax Act 2007: Anti-avoidance provisions

EW 48 Anti-avoidance provisions When this section applies (1) This section applies when it is necessary to determine the consideration that is paid to or by a person in a case to which any of the following provisions applies: (a) section GB 21 (Dealing that defeats intention of financial arrangements rules); or (b) section GC 7 (Excess amount payable by person); or (c) section GC 8 (Insufficient amount receivable by person). Consideration (2) The consideration is the amount determined under the relevant provision. Defined in this Act: amount , consideration , pay , Compare: 2004 No 35 s EW 49