Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 700.1

  (1)   Part   3 - 90 of the Income Tax Assessment Act 1997 , as inserted by the New Business Tax System (Consolidation) Act (No.   1) 2002 and amended by:

  (a)   the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 ; and

  (b)   the New Business Tax System (Consolidation and Other Measures) Act (No.   1) 2002 ; and

  (c)   the New Business Tax System (Consolidation and Other Measures) Act 2003 ; and

  (d)   the Taxation Laws Amendment Act (No.   6) 2003 ;

applies on and after 1   July 2002.

  (2)   Section   713 - 50 of the Income Tax Assessment Act 1997 (about factors to consider in determining destination of distribution by non - fixed trust) applies for the purposes of this Part   in the same way as it applies for the purposes of Part   3 - 90 of that Act.

Table of Subdivisions

701 - A   Preliminary

701 - B   Modified application of provisions

Table of sections

701 - 1   Transitional group and transitional entity

701 - 5   Chosen transitional entity

701 - 7   Working out the cost base or reduced cost base of a pre - CGT asset after certain roll - overs

701 - 10   Interpretation