Document ID: chunk:federal_register_of_legislation:C2013A00101:clause:2_2:p7
Version: federal_register_of_legislation:C2013A00101
Segment Type: clause
Provision Reference: sch 2 cl 2 (pt 7/8)
Character Range: 31317–34100

purposes of this Act, to be attributable to sources in that area.

815‑235  Guidance
 (1) For the purpose of determining the effect this Subdivision has in relation to an entity, work out *arm's length profits, and identify *arm's length conditions, so as best to achieve consistency with:
 (a) the documents covered by this section; and
 (b) subject to paragraph (a), the documents covered by section 815‑135.
  (2) The documents covered by this section are 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 on 22 July 2010, to the extent that document extracts the text of Article 7 and its Commentary as they read before 22 July 2010;
 (b) a document, or part of a document, prescribed by the regulations for the purposes of this paragraph.
 (3) However, the document mentioned in paragraph (2)(a) is not covered by this section if the regulations so prescribe.
 (4) A document covered by section 815‑135 is to be disregarded for the purposes of this section if the regulations so prescribe.
 (5) Regulations made for the purposes of paragraph (2)(b), subsection (3) or subsection (4) may prescribe different documents or parts of documents for different circumstances.

815‑240  Amendment of assessments
  Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment of an entity for an income year if:
 (a) the amendment is made within 7 years after the day on which the Commissioner gives notice of the assessment to the entity; and
 (b) the amendment is made for the purpose of giving effect to section 815‑215.

Subdivision 815‑D—Special rules for trusts and partnerships

Guide to Subdivision 815‑D

815‑301  What this Subdivision is about
      This Subdivision provides special rules about the way Subdivisions 815‑B and 815‑C apply to trusts and partnerships.

Table of sections

Operative provisions
815‑305 Special rule for trusts
815‑310 Special rules for partnerships

Operative provisions

815‑305  Special rule for trusts
  Subdivisions 815‑B and 815‑C apply in relation to the *net income of a trust in the same way those Subdivisions apply in relation to the taxable income of an entity other than a trust.

815‑310  Special rules for partnerships
 (1) Subdivisions 815‑B and 815‑C apply in relation to the *net income of a partnership in the same way those Subdivisions apply in relation to the taxable income of an entity other than a partnership.
 (2) Subdivisions 815‑B and 815‑C apply in relation to a *partnership loss of a partnership in the same way those Subdivisions apply in relation to a *tax loss of an entity other than a partnership.

Taxation Administration Act 1953