Tax Laws Amendment (2005 Measures No. 5) Act 2005 (162 of 2005)

Schedule 6   Debt and equity interests

Part 1   Related party at call etc. loans

Income Tax Assessment Act 1997

13   Application of amendments

 

(1) The amendments made by the items in this Part, other than item 6, apply to:

(a) schemes entered into on or after 1 July 2005; and

(b) schemes entered into before 1 July 2005, in so far as they continue to exist on and after 1 July 2005.

      

(2) The amendment made by item 6 applies in accordance with item 118 of Schedule 1 to the New Business Tax System (Debt and Equity) Act 2001, as though the amendment were one of the debt and equity test amendments within the meaning of item 118 of that Schedule.