Section FB 10B — Income Tax Act 2007: Look-through companies

FB 10B Look-through companies When this section applies (1) This section applies for the purposes of sections HB 4 to HB 10 (which relate to transfers of interests) when a look-through interest for a look-through company is transferred on a settlement of relationship property. Transferee treated as holding interest (2) The transferee is treated as having acquired the look-through interest on the date it was acquired by the transferor, and to have held it at all times up to the date of transfer. Defined in this Act: date of transfer , look-through company , look-through interest , settlement of relationship property Section FB 10B: inserted, on 1 April 2011 (applying for income years beginning on or after 1 April 2011), by section 62(1) of the Taxation (GST and Remedial Matters) Act 2010 (2010 No 130).