s 253-5
In forceApplication of section 253‑5 of the Income Tax Assessment Act 1997
Chapter 3Specialist liability rules
Part 3-10Financial transactions
Division 253Financial claims scheme for account‑holders with insolvent ADIs
Subdivision 253-ATax treatment of entitlements under financial claims scheme
253-5 Application of section 253‑5 of the Income Tax Assessment Act 1997
Section 253‑5 of the Income Tax Assessment Act 1997 applies to amounts paid or applied before, on or after the commencement of that section to meet entitlements arising under Division 2AA of Part II of the Banking Act 1959 after 17 October 2008.
Note:
Division 2AA of Part II of the Banking Act 1959 commenced on 18 October 2008.
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