Commonwealth Consolidated Acts Commonwealth Consolidated ActsScope
(1) This section applies to a debt to which paragraph 266 - 35(1)(a), 266 - 85(1)(a) or (2)(a), 266 - 120(1)(a), 266 - 160(1)(a) or (b), 267 - 25(1)(a) or 267 - 65(1)(a) in Schedule 2F to the Income Tax Assessment Act 1936 applies, if the trust is a * designated infrastructure project entity at a time (the status time ) in the income year in which the debt was incurred.
Modifications of Schedule 2F to the Income Tax Assessment Act 1936
(2) Despite paragraph 266 - 35(1)(b), 266 - 85(1)(b) or (2)(b), 266 - 120(1)(b), 266 - 160(2)(a), 267 - 25(1)(b) or 267 - 65(1)(a) in that Schedule, for the purposes of sections 266 - 40 and 266 - 45, section 266 - 90, subsections 266 - 125(1) and (2), subsections 266 - 165(1) and (2), sections 267 - 40 and 267 - 45 or sections 267 - 70 and 267 - 75 in that Schedule (whichever are applicable), the test period starts at the first time:
(a) that occurs after the status time; and
(b) at which the trust is not a * designated infrastructure project entity.
(3) For the purposes of section 267 - 30 in that Schedule, disregard any part of an income year during which the trust is a * designated infrastructure project entity.