Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 3 - Collection, recovery and administration of other taxes  

PART 3-15 - MAJOR BANK LEVY  

Division 117 - Anti-avoidance  

Subdivision 117-A - Application of this Division  

SECTION 117-10   APPLICATION OF THIS DIVISION  

117-10(1)    
This Division applies if:


(a) an entity gets or got an *MBL benefit from a *scheme; and


(b) taking account of the matters described in section 117-20 , it is reasonable to conclude that an entity that (whether alone or with others) entered into or carried out the scheme, or part of the scheme, did so for the sole or dominant purpose of that entity or another entity getting an MBL benefit from the scheme; and


(c) the scheme:


(i) has been or is entered into at or after 7.30 pm, by legal time in the Australian Capital Territory, on 9 May 2017; or

(ii) has been or is carried out or commenced at or after that time (other than a scheme that was entered into before that time).

117-10(2)    
It does not matter whether the *scheme, or any part of the scheme, was entered into or carried out inside or outside Australia.




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