Document ID: chunk:federal_register_of_legislation:C2020A00049:clause:1_21
Version: federal_register_of_legislation:C2020A00049
Segment Type: clause
Provision Reference: sch 1 cl 21
Character Range: 11083–12065

21  Application
(1) The amendments made by this Schedule apply in relation to income years or other periods starting on or after 1 July 2019.
(2) To avoid doubt, the amendments made by this Schedule apply for the purposes of working out whether an entity was a CBC reporting entity for a period as mentioned in paragraph 815‑355(1)(a) of the Income Tax Assessment Act 1997 (as amended by this Schedule), even if that period started before 1 July 2019.
(3) Subitem (4) applies if:
 (a) an entity is a significant global entity for an income year or other period that starts:
 (i) on or after 1 July 2019; and
 (ii) before 1 July 2020; and
 (b) disregarding the amendments made by this Schedule, the entity would not be a significant global entity for that income year or other period.
(4) For the purposes of Divisions 284 and 286 in Schedule 1 to the Taxation Administration Act 1953, treat the entity as not being a significant global entity for that income year or other period.