Treasury Laws Amendment (Black Economy Taskforce Measures No. 1) Act 2018 (121 of 2018)

Schedule 2   Third party reporting

Part 2   Application and transitional provisions

2   Application

(1) An inserted item applies in relation to a transaction unless:

(a) the transaction happens before 1 July 2018; or

(b) the transaction happens during an alternative reporting period that begins before 1 July 2018.

(2) In this item:

alternative reporting period , in relation to an inserted item, means a period specified for the inserted item under subparagraph (a)(ii) of the amended provision.

amended provision means section 396-55 in Schedule 1 to the Taxation Administration Act 1953, as amended by item 1 of this Schedule.

inserted item means either item 11 or 12 of the table in the amended provision.