Income Tax (Transitional Provisions) Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 253 - Financial claims scheme for account-holders with insolvent ADIs  

Subdivision 253-A - Tax treatment of entitlements under financial claims scheme  

SECTION 253-5  

253-5   Application of section 253-5 of the Income Tax Assessment Act 1997  

Section 253-5 of the Income Tax Assessment Act 1997 applies to amounts paid or applied before, on or after the commencement of that section to meet entitlements arising under Division 2AA of Part II of the Banking Act 1959 after 17 October 2008.

Note:

Division 2AA of Part II of the Banking Act 1959 commenced on 18 October 2008.