Document ID: chunk:federal_register_of_legislation:C2017A00064:clause:1_15:p2
Version: federal_register_of_legislation:C2017A00064
Segment Type: clause
Provision Reference: sch 1 cl 15 (pt 2/4)
Character Range: 9391–11907

benefits.
      If the sole or dominant purpose of entering into a scheme is to give an entity such a benefit, the Commissioner may negate the MBL benefit an entity gets from the scheme by making a determination.

Subdivision 117‑A—Application of this Division

Table of sections
117‑5 Object of this Division
117‑10 Application of this Division
117‑15 Meaning of MBL benefit
117‑20 Matters to be considered in determining purpose

117‑5  Object of this Division
  The object of this Division is to deter *schemes to give entities benefits that reduce or defer liabilities to levy under the Major Bank Levy Act 2017.

117‑10  Application of this Division
 (1) This Division applies if:
 (a) an entity gets or got an *MBL benefit from a *scheme; and
 (b) taking account of the matters described in section 117‑20, it is reasonable to conclude that an entity that (whether alone or with others) entered into or carried out the scheme, or part of the scheme, did so for the sole or dominant purpose of that entity or another entity getting an MBL benefit from the scheme; and
 (c) the scheme:
 (i) has been or is entered into at or after 7.30 pm, by legal time in the Australian Capital Territory, on 9 May 2017; or
 (ii) has been or is carried out or commenced at or after that time (other than a scheme that was entered into before that time).
 (2) It does not matter whether the *scheme, or any part of the scheme, was entered into or carried out inside or outside Australia.

117‑15  Meaning of MBL benefit
 (1) An entity gets an MBL benefit from a *scheme, if:
 (a) an amount of levy under the Major Bank Levy Act 2017 that is payable by the entity under this Act apart from this Division is, or could reasonably be expected to be, smaller than it would be apart from the scheme or a part of the scheme; or
 (b) all or part of an amount of levy under the Major Bank Levy Act 2017 that is payable by the entity under this Act apart from this Division is, or could reasonably be expected to be, payable later than it would have been apart from the scheme or a part of the scheme.
 (2) To avoid doubt, a smaller liability mentioned in paragraph (1)(a) includes a case where the liability is zero, or there is no such liability for a particular *quarter.

117‑20  Matters to be considered in determining purpose
  The following matters are to be taken into account under section 117‑10 in considering an entity's purpose in entering into or carrying out the *scheme, or part of the scheme:
 (a) the manner in which the