s 33A Commissioner to disregard certain transactions and dispositions
33A.—(1) Subsection (2) applies where the Commissioner is satisfied that the purpose or effect of any arrangement is, directly or indirectly —(a) to alter the incidence of any duty that is payable or that would otherwise have been payable by any person; (b) to relieve any person from any liability to pay duty; or (c) to reduce or avoid any liability imposed or that would otherwise have been imposed on any person by this Act.[41/2020] (2) Without affecting any validity the arrangement may have in any other respect or for any other purpose, the Commissioner must disregard or vary the arrangement and make any adjustment that the Commissioner considers appropriate, including the amount of duty payable, or the imposition of liability to duty, so as to counteract any reduction in or avoidance of duty payable by that person from or under that arrangement.[41/2020] (3) In this section, “arrangement” means any scheme, trust, grant, covenant, agreement, disposition, transaction and includes all steps by which it is carried into effect.[41/2020] (4) This section applies to any arrangement made or entered into before, on or after 7 December 2020, but not one made or entered into before 1 September 1999.[41/2020] (5) This section does not apply to any arrangement carried out for bona fide commercial reasons and had not as one of its main purposes the avoidance or reduction of duty.[41/2020]