Div 11B repealed by No 23 of 2018, s 3 and Sch 1 item 10, effective 1 April 2018. No 23 of 2018, s 3 and Sch 1 item 19 contains the following application provision:

19 Application of amendments  
(1)
The amendments made by this Part apply in relation to assessments for:

(a) the 2017-18 year of income; and

(b) later years of income.

(2)
However, the amendments made by this Part do not apply to a taxpayer in relation to a threshold interest that the taxpayer acquired before the commencement of this item.

No 23 of 2018, s 3 and Sch 1 Pt 7 contain the following general application and transitional provisions:

Part 7 - General application and transitional provisions

75 Object  
75
The object of this Part is to ensure that, despite the repeals and amendments made by this Schedule, the full legal and administrative consequences of:

(a) any act done or omitted to be done; or

(b) any state of affairs existing; or

(c) any period ending;

before such a repeal or amendment applies, can continue to arise and be carried out, directly or indirectly through an indefinite number of steps, even if some or all of those steps are taken after the repeal or amendment applies.

76 Making and amending assessments, and doing other things, in relation to past matters  
76
Even though an Act is repealed or amended by this Schedule, the repeal or amendment is disregarded for the purpose of doing any of the following under any Act or legislative instrument:

(a) making or amending an assessment (including under a provision that is itself repealed or amended);

(b) exercising any right or power, performing any obligation or duty or doing any other thing (including under a provision that is itself repealed or amended);

in relation to any act done or omitted to be done, any state of affairs existing, or any period ending, before the repeal or amendment applies.

77 Saving of provisions about effect of assessments  
77
If a provision or part of a provision that is repealed or amended by this Schedule deals with the effect of an assessment, the repeal or amendment is disregarded in relation to assessments made, before or after the repeal or amendment applies, in relation to any act done or omitted to be done, any state of affairs existing, or any period ending, before the repeal or amendment applies. 78 Repeals disregarded for the purposes of dependent provisions  
78
If the operation of a provision (the subject provision ) of any Act or legislative instrument depends to any extent on an Act, or a provision of an Act, that is repealed by this Schedule, the repeal is disregarded so far as it affects the operation of the subject provision. 79 Part does not limit operation of section 7 of the Acts Interpretation Act 1901  
79
This Part does not limit the operation of section 7 of the Acts Interpretation Act 1901 .

Div 11B inserted by No 78 of 1996.

S 128TJ repealed by No 23 of 2018, s 3 and Sch 1 item 10, effective 1 April 2018. For application provision, and general application and transitional provisions, see note under Pt III Div 11B heading. S 128TJ formerly read:

SECTION 128TJ ACQUIRING A THRESHOLD INTEREST IN AN SME  
128TJ
A taxpayer acquires a threshold interest in an SME if:

(a) ordinary shares in an SME (see section 128TK) are issued to the taxpayer; and

(b) the shares are issued:

(i) in any case - in the course of the taxpayer carrying on a business of lending money or otherwise in connection with such a business of the taxpayer; or

(ii) if the taxpayer is a company that is a subsidiary of another company - while the one or more members of the direct ownership group of the taxpayer (see subsection 128TL(3)) are each carrying on a business of lending money; and

(c) immediately after the shares, and any other ordinary shares forming part of the same issue, are issued to the taxpayer and any other persons, the percentage of the value of the SME represented by ordinary shares issued to the taxpayer (whether before or as part of the threshold share issue) is at least 10%; and

(d) no previous issue of shares to the taxpayer had resulted in the taxpayer acquiring a threshold interest in the SME.

S 128TJ amended by No 63 of 1998, No 122 of 1997 and inserted by No 78 of 1996.