Taxation Laws Amendment Act (No. 1) 2001 (72 of 2001)

Schedule 2 Arrangements treated as a sale and loan and limited recourse debt

(1) Division 243 of the Income Tax Assessment Act 1997 applies to debts that are terminated after 27 February 1998.

(2) The amendments made by Part 3 of this Schedule (other than by items 83 and 90) apply to debts that are terminated after 27 February 1998.

(3) The amendments made by items 83 and 90 of this Schedule apply to assessments for the 1998-99 income year and later income years.