Tax Laws Amendment (2007 Measures No. 5) Act 2007 (164 of 2007)

Schedule 1   Tax preferred entities (asset financing)

Part 2   Consequential amendments

Income Tax Assessment Act 1936

32   After section 82KZL

Insert:

82KZLA Subdivision does not apply to financial arrangements to which Subdivision 250-E applies

To avoid doubt, this Subdivision does not apply to:

(a) a financial arrangement to which Subdivision 250-E of the Income Tax Assessment Act 1997 applies; or

(b) a financial benefit (within the meaning of that Act) that is provided or received in relation to such an arrangement.

Note: See section 250-210 of the Income Tax Assessment Act 1997.