45-595

Object of this Subdivision

Current

(1)

The object of this Subdivision is to penalise an entity whose *tax position, so far as it relates to *PAYG instalments (and related credits and *general interest charge), is altered by a *scheme that is inconsistent with:

(a)

the purposes and objects of this Part ; or

(b)

the purposes and objects of any relevant provisions of this Part;

(whether those purposes and objects are stated expressly or not).

(2)

This Subdivision is not intended to apply to a straightforward use of structural features of this Part if that use is consistent with the purposes and objects mentioned in subsection (1).

(3)

This Subdivision is to be interpreted and applied accordingly.

This Act’s bill:Second reading speech

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