Treasury Laws Amendment (Combating Multinational Tax Avoidance) Act 2017 (27 of 2017)

Schedule 2   Increasing penalties for significant global entities

Taxation Administration Act 1953

7   Application of amendments

(1) The amendment made by item 1 of this Schedule applies in relation to general purpose financial statements required to be given to the Commissioner at or after the application time.

(2) The amendments made by items 2, 3 and 4 of this Schedule apply in relation to any of the following:

(a) statements referred to in section 284-75 in Schedule 1 to the Taxation Administration Act 1953 that are made at or after the application time;

(b) returns, notices or other documents referred to in that section that are required to be given at or after the application time.

(3) The amendments made by items 5 and 6 of this Schedule apply in relation to any returns, notices or other documents referred to in subsection 286-75(1) in Schedule 1 to the Taxation Administration Act 1953 that are required to be given at or after the application time.

(4) In this item:

application time means the start of the day that is the later of:

(a) 1 July 2017; and

(b) the day this Schedule commences.