Tax Laws Amendment (2005 Measures No. 5) Act 2005 (162 of 2005)

Schedule 6   Debt and equity interests

Part 2   Technical amendments taken to have commenced on 1 July 2001

New Business Tax System (Debt and Equity) Act 2001

27   Subitem 118(9) of Schedule 1

Repeal the subitem, substitute:

(9) If paragraph (6)(a) applies to an interest:

(a) paragraph 164-10(1)(b) of the Income Tax Assessment Act 1997 applies to the interest as if the second reference in that paragraph to "1 July 2001" were instead a reference to "1 July 2004"; and

(b) section 164-15 of the Income Tax Assessment Act 1997 applies to the interest as if the following references were instead references to "1 July 2004":

(i) the first reference in subsection 164-15(3) to "1 July 2001";

(ii) the reference in subsection 164-15(3) to "that day";

(iii) the references in paragraph 164-15(3)(b) and subsection 164-15(4) to "1 July 2001".