Income Tax Act 2007 section 809FZY

"Reasonable to suppose"

Section 809FZY explains how to determine what it is "reasonable to suppose" when assessing an investment scheme under the disguised investment management fees rules in Chapter 5F.

• All circumstances must be considered when deciding what is reasonable to suppose about an investment scheme
• Relevant circumstances include any prospectus or other document made available to external investors in the scheme
• Documents that external investors may reasonably have relied upon, or been able to rely upon, are particularly relevant
• The test is an objective one based on the totality of the available evidence, not just the stated terms of the scheme