Document ID: chunk:federal_register_of_legislation:C2024C00267:section:4:p7
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 4 (pt 7/64)
Character Range: 721259–723946

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 Economic Cooperation and Development and last amended before the start of the income year;
 (b) the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations, as approved by that Council and last amended before the start of the income year.

815‑10  Scheme penalty applies in pre‑commencement period as if only the old law applied
 (1) This section applies if:
 (a) a determination under subsection 815‑30(1) of the Income Tax Assessment Act 1997 has effect in relation to an entity in an income year; and
 (b) the income year starts before 1 July 2012.
 (2) Subdivision 284‑C in Schedule 1 to the Taxation Administration Act 1953 applies in relation to the entity and the income year as if:
 (a) Subdivision 815‑A of the Income Tax Assessment Act 1997 had not been enacted; and
 (b) each other provision of a taxation law applied in relation to the entity in the way it would have if that Subdivision had not been enacted.

815‑15  Application of Subdivisions 815‑B, 815‑C and 815‑D of the Income Tax Assessment Act 1997
 (1) Subdivisions 815‑B, 815‑C and 815‑D of the Income Tax Assessment Act 1997 apply:
 (a) in respect of tax other than withholding tax—in relation to income years starting on or after the date mentioned in subsection (2); and
 (b) in respect of withholding tax—in relation to income derived, or taken to be derived, in income years starting on or after that date.

Start date for transfer pricing amendments
 (2) The date is the earlier of:
 (a) 1 July 2013; and
 (b) the day the Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Act 2013 receives the Royal Assent.

Division 820—Application of the thin capitalisation rules

Table of sections
820‑10 Application of Division 820 of the Income Tax Assessment Act 1997
820‑12 Application of Division 974 of the Income Tax Assessment Act 1997 for the purposes of Division 820 of that Act
820‑45 Transitional provision—accounting standards and prudential standards

820‑10  Application of Division 820 of the Income Tax Assessment Act 1997
 (1) Subject to this section, Division 820 of the Income Tax Assessment Act 1997 applies in relation to an income year that begins on or after 1 July 2001.
 (1A) Subdivisions 820‑FA and 820‑FB of that Act apply on and after 1 July 2002.
 (2) Subdivision 820‑L of that Act, to the extent that it relates to the requirements under section 820‑960 of that Act, applies only in relation to an income year that