Section 809VF — Income Tax Act 2007: Condition B

Condition B 809VF 1 Condition B is that no relevant person has (directly or indirectly) obtained or become entitled to obtain any related benefit, and no relevant person expects to obtain any such benefit.

2 A “benefit”—

a includes the provision of anything that would not be provided to the relevant person in the ordinary course of business, or would be provided but on less favourable terms, but b does not include the provision of anything provided to the relevant person in the ordinary course of business and on arm's length terms.

3 A benefit is “related” if—

a it is directly or indirectly attributable to the making of the investment (whether it is obtained before or after the investment is made), or b it is reasonable to assume that the benefit would not be available in the absence of the investment.

4 For the purposes of subsection (2)—

a a reference to the provision of anything is to the provision of anything in money or money's worth, including property, capital, goods or services of any kind, and b “ provision ” includes any arrangement that allows a person to enjoy or benefit from the thing in question (whether temporarily or permanently).