Document ID: chunk:federal_register_of_legislation:C2024C00267:section:4:p6
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 4 (pt 6/64)
Character Range: 718701–721477

(c) unless paragraph (d) applies—the start of the losing entity's 2003‑2004 income year; or
 (d) if the losing entity's 2002‑2003 income year ends before 30 June 2003—the start of the losing entity's 2004‑2005 income year.

How subsection (1) applies to a presumed indirect value shift
 (2) For the purposes of section 727‑850 (about a presumed indirect value shift affecting a realisation event) of the Income Tax Assessment Act 1997, subsection (1) of this section applies to the presumed indirect value shift:
 (a) on the assumptions set out in subsection 727‑865(3) of that Act; and
 (b) as if the exclusion in subsection (1) of this section were an exclusion in Subdivision 727‑C of that Act.

727‑470  Affected interests do not include equity or loan interests owned by entity that is eligible to be an STS taxpayer
 (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.

Chapter 4—International aspects of income tax

Part 4‑5—General

Division 815—Cross‑border transfer pricing

Table of Subdivisions
815‑A Cross‑border transfer pricing

Subdivision 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

815‑1  Application of Subdivision 815‑A of the Income Tax Assessment Act 1997
 (1) Subdivision 815‑A of the Income Tax Assessment Act 1997 applies to income years starting on or after 1 July 2004.
 (2) However, Subdivision 815‑A does not apply to an income year to which Subdivisions 815‑B and 815‑C of that Act apply.
Note: For the income years to which Subdivisions 815‑B and 815‑C apply, see section 815‑15 of this Act.

815‑5  Cross‑border transfer pricing guidance
  Despite section 815‑20 of the Income Tax Assessment Act 1997, the documents covered by that section for an income year that starts before 1 July 2012 are taken to be as follows:
 (a) the Model Tax Convention on Income and on Capital, and its Commentaries, as adopted by the Council of the Organisation for