Income Tax Act 2007 section 683

Provisions of Chapter

Section 683 provides an overview of the provisions contained in the chapter dealing with transactions in securities, outlining what each group of sections covers.

• Sections 684 to 687 set out when a person is liable to have an income tax advantage from transactions in securities counteracted
• Sections 695 to 702 cover the procedural rules for counteraction and a clearance mechanism allowing taxpayers to obtain advance confirmation that the rules will not apply
• Section 705 provides a right of appeal against counteraction notices, and section 712 deals with cases where a person liable to counteraction dies
• Section 713 contains the definitions and interpretation provisions that apply throughout the chapter