Income Tax Assessment Act 1997

Part 3-90 inserted by No 68 of 2002, s 3 and Sch 1 item 2, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

Div 715 inserted by No 16 of 2003 (see s 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

Subdiv 715-A inserted by No 16 of 2003, s 3 and Sch 7 item 1, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).

S 715-90(2) amended by No 7 of 2019, s 3 and Sch 1 item 138, by substituting " business continuity test " for " same business test " in the note, effective 1 April 2019 and applicable in relation to income years starting on or after 1 July 2015.

S 715-90(2) amended by No 12 of 2012, s 3 and Sch 6 item 160, by substituting " and paragraph 165-115BA(5)(c) have effect as if they " for " has effect as if it " , applicable on and after 1 July 2002.

S 715-90(2) substituted by No 142 of 2003, s 3 and Sch 7 item 11.

Act No 142 of 2003, s 3 and Sch 7 item 15, contains the following application provision:

(1)
The amendments apply to assessments for the 1997-98 income year and later income years.

(2)
However, an amendment affecting a provision does not apply to anything to which the provision did not apply before the amendment.

Example: Section 707-125 of the Income Tax Assessment Act 1997 applies on and after 1 July 2002. Despite the reference in subitem (1) to the 1997-98 income year, the amendments of that section do not apply before 1 July 2002.

S 715-90(2) formerly read:

715-90(2)
The continuity period referred to in subsection 165-115B(3) , as applying to the leaving time as a ^* changeover time for the leaving entity, is taken to have ended just after that time.

Note:

This ensures that the same business test is applied to the business that the leaving entity carries on at the leaving time: see subsection 165-13(3).

S 715-90 inserted by No 16 of 2003, s 3 and Sch 7 item 1, effective 24 October 2002 and applicable on and after 1 July 2002 (see sec 700-1 of the Income Tax (Transitional Provisions) Act 1997 ).