Income Tax Act 2007 section 763

Meaning of "another person"

Section 763 defines what "another person" means for the purposes of the chapter dealing with transactions in land.

• The term "another person" is used within the transactions in land provisions to identify who may be assessed on gains from land dealings.
• This definition ensures that the anti-avoidance rules can apply not just to the person who directly carried out the transaction, but also to connected or associated persons who benefit from it.
• The section is derived from the earlier legislation in section 777(7) of the Income and Corporation Taxes Act 1988 (ICTA).
• Amendments were made by Finance Act 2016 and Finance (No. 2) Act 2017 to update and refine the scope of the definition.