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.


 

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