RDRM35480 - Remittance Basis: Amounts Remitted: Offshore Transfers: Mixed Funds - Anti-avoidance provisions

ITA07/s809S applies in those cases where there is an arrangement, the main purpose, or one of the main purposes of which is for the taxpayer to obtain a tax advantage. This means that an individual arranges their affairs so that the amount of foreign income or gains they are regarded as having remitted under the terms of s809Q and s809R is reduced.

The practical effect of this provision is that any such arrangement is ignored so that a 바카라 사이트˜mixed fund바카라 사이트™ is regarded as containing the same amounts of foreign income and chargeable gains that would have been present if the arrangements had not been made. This is subject to a 바카라 사이트˜just and reasonable바카라 사이트™ test in s809S(2).

ITA07/s809S applies only to income or capital within ITA07/s809Q(4)(f) to (i). That is:

  • employment income subject to a foreign tax
  • relevant foreign income subject to a foreign tax
  • foreign chargeable gains subject to a foreign tax
  • income or capital not within another paragraph of s809Q(4)

ITA07/s809S(3) of the legislation states that an 바카라 사이트˜arrangement바카라 사이트™ includes any scheme, understanding, transaction or series or transactions (whether or not enforceable).

An 바카라 사이트˜income tax advantage바카라 사이트™ has the same meaning as ITA07/s683.

A 바카라 사이트˜capital gains tax advantage바카라 사이트™ means (ITA07/s809S(5)):

  1. a relief from capital gains tax or increased relief from capital gains tax
  2. a repayment of capital gains tax or increased repayment of capital gains tax
  3. the avoidance or reduction of a charge to capital gains tax or an assessment to capital gains tax, or
  4. the avoidance of a possible assessment to capital gains tax.

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)