Section GB 30 — Income Tax Act 2007: Arrangements to avoid taxation of restrictive covenant payments

GB 30 Arrangements to avoid taxation of restrictive covenant payments When this section applies (1) This section applies if a person enters into an arrangement that has an effect of avoiding section CE 9 (Restrictive covenants). Treatment as restrictive covenant payment (2) The Commissioner may treat— (a) an amount provided under the arrangement as an amount to which section CE 9(2) applies; and (b) a person affected by the arrangement as the person who gave the undertaking referred to in section CE 9(1) . Example (3) An example of an arrangement that may be subject to this section is an arrangement that involves a collateral arrangement to dispose of property. Defined in this Act: arrangement , Commissioner , Compare: 2004 No 35 s GC 14F