s 815-10
In forceScheme penalty applies in pre‑commencement period as if only the old law applied
Chapter 4International aspects of income tax
Part 4-5General
Division 815Cross‑border transfer pricing
Subdivision 815-ACross‑border transfer pricing
815-10 Scheme penalty applies in pre‑commencement period as if only the old law applied
(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.
(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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