Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_3:p3
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 3/16)
Character Range: 971255–973975

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 scheme was entered into or carried out;
 (b) the form and substance of the scheme;
 (c) the time at which the scheme was entered into and the length of the period during which the scheme was carried out;
 (d) the effect that the Major Bank Levy Act 2017, and any other *taxation law to the extent that it applies in relation to that Act, would have in relation to the scheme apart from this Division;
 (e) any change in the financial position of the entity that has resulted, or may reasonably be expected to result, from the scheme;
 (f) any change that has resulted, or may reasonably be expected to result, from the scheme in the financial position of an entity (a connected entity) that has or had a connection or dealing with the entity, whether the connection or dealing is or was of a business or other nature;
 (g) any other consequence for the entity or a connected entity of the scheme having been entered into or carried out;
 (h) the nature of the connection (whether of a business or other nature) between the entity and a connected entity.

Subdivision 117‑B—Commissioner may negate effects of schemes for MBL benefits

Table of sections
117‑25 Commissioner may negate entity's MBL benefits
117‑30 Determination has effect according to its terms
117‑35 Commissioner may disregard scheme in making determinations
117‑40 One determination may cover several quarters etc.
117‑45 Commissioner must give copy of determination to entity affected
117‑50 Objections

117‑25  Commissioner may negate entity's MBL benefits
 (1) For the purpose of negating an *MBL benefit the entity mentioned in paragraph 117‑10(1)(a) gets or got from the *scheme, the Commissioner may:
 (a) make a determination stating the amount that is (and has been at all times) the entity's liability for levy under the Major Bank Levy Act 2017, for a specified *quarter that has ended; or
 (b) make a determination stating the amount that is (and has been at all times) a particular amount mentioned in paragraph 5(2)(a) or (b) of that Act, for a specified quarter that has ended.
 (2) A determination under this section is not a legislative instrument.
 (3) The Commissioner may take such action as the Commissioner considers necessary to give effect to the determination.

117‑30  Determination has effect according to its terms
  For the purpose of making an *assessment, a statement in a determination under this Subdivision has