sec.68Matters to be considered in deciding purpose for scheme

sec.68 Matters to be considered in deciding purpose for scheme

For section 66 , the following matters must be taken into account in deciding a person’s purpose in entering into or carrying out the scheme from which the avoider obtained, or would obtain, a tax benefit— the way in which the scheme was entered into or carried out; the form and substance of the scheme, including— the legal rights and obligations involved in the scheme; and the economic and commercial substance of the scheme; when the scheme was entered into and the length of the period during which the scheme was carried out; the purpose of this Act or a provision of this Act, whether or not the purpose is expressly stated; the effect this Act would have in relation to the scheme apart from this part; any change in the avoider’s financial position that has resulted, will result, or may reasonably be expected to result from the scheme; any change in the financial position of any person who has, or has had, a connection (of a business, family or other nature) with the avoider, being a change that has resulted, will result, or may reasonably be expected to result from the scheme; any other consequence for the avoider or a person mentioned in paragraph (g) of the scheme having been entered into or carried out; the nature of the connection (of a business, family or other nature) between the avoider and any person mentioned in paragraph (g) ; the circumstances surrounding the scheme. s 68 amd 2025 No. 15 s 18

• (a) the way in which the scheme was entered into or carried out;
• (b) the form and substance of the scheme, including— (i) the legal rights and obligations involved in the scheme; and (ii) the economic and commercial substance of the scheme;
• (i) the legal rights and obligations involved in the scheme; and
• (ii) the economic and commercial substance of the scheme;
• (c) when the scheme was entered into and the length of the period during which the scheme was carried out;
• (d) the purpose of this Act or a provision of this Act, whether or not the purpose is expressly stated;
• (e) the effect this Act would have in relation to the scheme apart from this part;
• (f) any change in the avoider’s financial position that has resulted, will result, or may reasonably be expected to result from the scheme;
• (g) any change in the financial position of any person who has, or has had, a connection (of a business, family or other nature) with the avoider, being a change that has resulted, will result, or may reasonably be expected to result from the scheme;
• (h) any other consequence for the avoider or a person mentioned in paragraph (g) of the scheme having been entered into or carried out;
• (i) the nature of the connection (of a business, family or other nature) between the avoider and any person mentioned in paragraph (g) ;