Section EW 59 — Income Tax Act 2007: Exclusion by Commissioner

EW 59 Exclusion by Commissioner The Commissioner may treat a person who would otherwise be a cash basis person for a class of financial arrangements as not being a cash basis person for the class if— (a) the person, or any other person, has structured and promoted the class to defer an income tax liability: (b) the parties to a financial arrangement are associated, and the person's calculation of income and expenditure under the financial arrangement differs from that used by the associated person. Defined in this Act: associated person , cash basis person , Commissioner , financial arrangement , income , income tax liability Section EW 59: substituted, on 1 April 2009, by section 13(1) of the Taxation (Business Tax Measures) Act 2009 (2009 No 5).