Income Tax Assessment Amendment Regulations 2011 (No. 4)

(80 of 2011)

Dated 2 June 2011

Income Tax Assessment Act 1997

1   Name of Regulations

These Regulations are the Income Tax Assessment Amendment Regulations 2011 (No. 4).

2   Commencement

These Regulations are taken to have commenced on 26 March 2009.

3   Amendment of Income Tax Assessment Regulations 1997

Schedule 1 amends the Income Tax Assessment Regulations 1997.

4   Transitional

The amendment made by Schedule 1 applies in relation to income years commencing on or after 1 July 2009.

Schedule 1   Amendment

[1]   After Division 83A

insert

Part 2A Specialist liability rules

Division 230 Taxation of financial arrangements

230-355.01 Recording requirements

For paragraph 230-355 (3) (b) of the Act, the record mentioned in paragraph 230-355 (1) (c) of the Act must be made or in place by the later of:

(a) the time, or soon after the time, the hedging financial arrangement is created, acquired or applied; and

(b) 30 June 2011.