Arrangements involving tax credits for families

Heading: substituted, on 1 April 2008, by section 408(1) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).

GB 44 Arrangements involving tax credits for families
When this section applies

(1)

This section applies if both of the following paragraphs are met:

(a)

a person enters into an arrangement:

(b)

a purpose of the arrangement is that subparts MA to MG and MZ (which relate to tax credits for families) has a more favourable effect than would otherwise have occurred.

Credit reduced

(2)

A tax credit under subparts MA to MG and MZ is reduced to the amount that the Commissioner considers would have arisen had the arrangement not occurred.

Defined in this Act: arrangement, Commissioner

Compare: 2004 No 35 s GC 28

Section GB 44 heading: amended, on 1 April 2008, by section 408(2) of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).

Section GB 44(1)(a): replaced, on 27 February 2014, by section 80(1) of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014 (2014 No 4).

Section GB 44(1)(b): amended, on 1 July 2018, by section 4(1) of the Families Package (Income Tax and Benefits) Act 2017 (2017 No 51).

Section GB 44(1)(b): amended, on 27 February 2014, by section 80(2) of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014 (2014 No 4).

Section GB 44(2): amended, on 1 July 2018, by section 4(2) of the Families Package (Income Tax and Benefits) Act 2017 (2017 No 51).

Section GB 44(2): amended, on 27 February 2014, by section 80(3) of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014 (2014 No 4).