Income Tax Assessment Act 1997
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View history noteChapter 4 inserted by No 162 of 2001.
Part 4-5 inserted by No 162 of 2001.
Div 815 inserted by No 115 of 2012, s 3 and Sch 1 item 6, effective 8 September 2012.
Subdiv 815-A inserted by No 115 of 2012, s 3 and Sch 1 item 6, effective 8 September 2012.
SECTION 815-40 No double taxation 815-40(1)
The amount of a * transfer pricing benefit that is negated under this Subdivision for an entity is not to be taken into account again under another provision of this Act to increase the entity ' s assessable income, reduce the entity ' s deductions or reduce a * net capital loss of the entity.
815-40(2)
Subsection (1) has effect despite former section 136AB of the Income Tax Assessment Act 1936 .
S 815-40(2) amended by No 101 of 2013, s 3 and Sch 2 item 33, by inserting " former " before " section 136AB " , applicable: (a) in respect of tax other than withholding tax - in relation to income years starting on or after the date mentioned in subsection 815-15(2) of the Income Tax (Transitional Provisions) Act 1997 , as inserted; and (b) in respect of withholding tax - in relation to income derived, or taken to be derived, in income years starting on or after that date.
815-40(3)
Nothing in this Subdivision limits Division 820 (about thin capitalisation) in its application to further reduce * debt deductions of an entity.
S 815-40 inserted by No 115 of 2012, s 3 and Sch 1 item 6, effective 8 September 2012.
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