Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:7_3:p1
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 7 cl 3 (pt 1/3)
Character Range: 333400–335973

3  At the end of Division 45 in Schedule 1
Add:

Subdivision 45‑P—Anti‑avoidance rules

Table of sections

45‑595 Object of this Subdivision
45‑600 General interest charge on tax benefit relating to instalments
45‑605 When do you get a tax benefit from a scheme?
45‑610 What is your tax position for an income year?
45‑615 What is your hypothetical tax position for an income year?
45‑620 Amount on which GIC is payable, and period for which it is payable
45‑625 Credit if you also got a tax detriment from the scheme
45‑630 When do you get a tax detriment from a scheme?
45‑635 No tax benefit or detriment results from choice for which income tax law expressly provides
45‑640 Commissioner may remit general interest charge in special cases

45‑595  Object of this Subdivision

 (1) The object of this Subdivision is to penalise an entity whose *tax position, so far as it relates to *PAYG instalments (and related credits and *general interest charge), is altered by a *scheme that is inconsistent with:
 (a) the purposes and objects of this Part ; or
 (b) the purposes and objects of any relevant provisions of this Part;
(whether those purposes and objects are stated expressly or not).

 (2) This Subdivision is not intended to apply to a straightforward use of structural features of this Part if that use is consistent with the purposes and objects mentioned in subsection (1).

 (3) This Subdivision is to be interpreted and applied accordingly.

45‑600  General interest charge on tax benefit relating to instalments

 (1) You are liable to pay the *general interest charge under section 45‑620 if:
 (a) you get a *tax benefit from a *scheme; and
 (b) the tax benefit relates to a *component of your *tax position for an income year, and that component is covered by section 45‑610; and
 (c) having regard to the matters referred to in subsection (3), it would be concluded that an entity that entered into or carried out the scheme (or part of it) did so for the sole or dominant purpose of:
 (i) an entity (whether you, that entity or another entity) getting one or more tax benefits from the scheme; or
 (ii) 2 or more entities (whether or not including you or that entity) each getting one or more tax benefits from the scheme.

 (2) It does not matter:
 (a) whether or not you entered into or carried out the *scheme (or part of it); or
 (b) whether the entity that entered into or carried out the scheme (or part of it) did so alone or together with one or more others; or
 (c) whether the scheme (or any part of it) was entered into or carried out inside