Commonwealth Consolidated Acts

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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 815.10

Scheme penalty applies in pre-commencement period as if only the old law applied

             (1)  This section applies if:

                     (a)  a determination under subsection 815-30(1) of the Income Tax Assessment Act 1997 has effect in relation to an entity in an income year; and

                     (b)  the income year starts before 1 July 2012.

             (2)  Subdivision 284-C in Schedule 1 to the Taxation Administration Act 1953 applies in relation to the entity and the income year as if:

                     (a)  Subdivision 815-A of the Income Tax Assessment Act 1997 had not been enacted; and

                     (b)  each other provision of a taxation law applied in relation to the entity in the way it would have if that Subdivision had not been enacted.



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