Payment Times Reporting Act 2020

S 54A repealed by No 65 of 2024, s 3 and Sch 1 item 76, effective 7 September 2024. For application and transitional provisions, see note under s 3 . S 54A formerly read:

SECTION 54A APPLICATION - CERTAIN ENTITIES TAKEN TO HAVE BECOME REPORTING ENTITIES BEFORE COMMENCEMENT DAY  
54A(1)
This section applies if:
(a) an income year (the relevant income year ) for a constitutionally covered entity started 6 months or less before the commencement day; and
(b) the entity would have been covered by subsection 7(2) at the start of the relevant income year had this Act been in force at that time.

54A(2)
The entity is taken to have become a reporting entity at the start of the relevant income year.

Note:

The entity continues to be a reporting entity until it ceases to be a reporting entity under subsection 7(3) or (4).

54A(3)
Despite paragraph 8(a), the first 6 months of the relevant income year is not a reporting period for the entity.