New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 (90 of 2002)

Schedule 10   Consolidation: consequential provisions for international tax

Income Tax Assessment Act 1936

2   Basic rule about application of section 160AFE

 

(1) Section 160AFE of the Income Tax Assessment Act 1936 as amended by this Schedule applies in relation to a taxpayer for each of its:

(a) income years starting after 30 June 2003; and

(b) non membership periods (if any) under section 701-30 of the Income Tax Assessment Act 1997 starting after 30 June 2003.

      

(2) This item does not apply in relation to a taxpayer to which item 3 applies.

Note: If you have a substituted accounting period, item 5 or 7 may apply instead of this item.