State Taxation Acts Amendment Act 2019—corporate reconstructions
52 State Taxation Acts Amendment Act 2019—corporate reconstructions
The old provisions apply in respect of an eligible transaction (within the meaning of section 250A as in force immediately before 1 July 2019) if the agreement or arrangement for the eligible transaction was entered into before 1 July 2019.
Without limiting subclause (1), the Commissioner may—
on application, grant an exemption under the old provisions in respect of an eligible transaction the agreement or arrangement for which was entered into before 1 July 2019; and
revoke or deal with the exemption under the old provisions as if they had not been amended by the State Taxation Acts Amendment Act 2019.
Despite the State Taxation Acts Amendment Act 2019, an exemption granted by the Commissioner under the old provisions that is in effect immediately before 1 July 2019—
continues in effect on and after that day; and
the old provisions continue to apply to the exemption.
In this clause—
old provisions means Division 1 of Part 2 of Chapter 11 as in force immediately before 1 July 2019.
Sch. 2 cl. 53 inserted by No. 17/2019 s. 34.
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