Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 727.470

  (1)   This section applies to an indirect value shift if:

  (a)   the indirect value shift happens in the 2007 - 08 income year or a later income year; and

  (b)   the scheme that results in the indirect value shift was entered into before the start of the 2007 - 08 income year.

  (2)   Paragraph   727 - 470(2)(a) of the Income Tax Assessment Act 1997 (as in force immediately before the commencement of this section) continues to have effect in relation to the indirect value shift as if the repeals and amendments made by Schedule   1, Parts   1 and 2 of Schedule   3 and Schedule   8 to the Tax Laws Amendment (Small Business) Act 2007 had not been made.

Table of Subdivisions

815 - A   Cross - border transfer pricing

Table of sections

815 - 1   Application of Subdivision   815 - A of the Income Tax Assessment Act 1997

815 - 5   Cross - border transfer pricing guidance

815 - 10   Scheme penalty applies in pre - commencement period as if only the old law applied

815 - 15   Application of Subdivisions   815 - B, 815 - C and 815 - D of the Income Tax Assessment Act 1997