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GB 48: Defined terms for sections GB 45 and GB 46
or “Explaining key terms used in specific tax law sections”
You could also call this:

“Rules for handling non-standard share transfer arrangements”

This section talks about special arrangements involving returning share transfers. You need to know that if you enter into an arrangement that doesn’t meet all the rules for a returning share transfer, and this arrangement goes against what the law intends, the Commissioner can step in. They can decide to treat your arrangement as if it were a proper returning share transfer. This means they can also treat you as either a share user or a share supplier under this returning share transfer, even if that’s not what you originally planned. The Commissioner does this to make sure people follow the spirit of the law and don’t try to avoid it through clever arrangements.

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Next up: GB 49B: Employee share schemes

or “Rules to prevent unfair tax advantages in employee share schemes”
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Part G Avoidance and non-market transactions
Avoidance: specific

GB 49Arrangements involving returning share transfers

  1. This section applies when—

  2. a person enters into an arrangement; and
    1. an effect of the arrangement means that a requirement of the definition of returning share transfer is not met; and
      1. the effect of the arrangement is to defeat the intent and application of this Act.

        1. The Commissioner may treat—

        2. the arrangement as a returning share transfer; and
          1. a person affected by the arrangement as a share user or a share supplier, under the returning share transfer.

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