Part 10A—tax avoidance schemes
47 Part 10A—tax avoidance schemes
Part 10A, as inserted by the State Revenue and Fines Legislation Amendment (Miscellaneous) Act 2022, applies to a scheme that is—
entered into or made on or after the commencement of the Part, or
carried out on or after the commencement of the Part, regardless of when it was first entered into or made.
However, Part 10A does not apply to tax avoided by a person as a result of a tax avoidance scheme if, apart from the scheme, the tax liability would have arisen before the commencement of the Part.
A provision of Part 10A that corresponds, or substantially corresponds, to a provision of the duty avoidance provisions extends to a scheme to which the duty avoidance provisions applied immediately before their repeal.
In this clause—
duty avoidance provisions means the Duties Act 1997, Chapter 11A.
scheme includes part of a scheme.
tax does not include duty under the Duties Act 1997.
tax liability does not include liability for duty under the Duties Act 1997.
This Act’s bill:Explanatory memorandumSecond reading speech
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