Income Tax (Transitional Provisions) Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 815 - Cross-border transfer pricing  

Subdivision 815-A - Cross-border transfer pricing  

SECTION 815-10   Scheme penalty applies in pre-commencement period as if only the old law applied  

815-10(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.

815-10(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.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.