Treasury Laws Amendment (2018 Measures No. 5) Act 2019 (15 of 2019)

Schedule 1   AMIT technical amendments

Income Tax (Transitional Provisions) Act 1997

18   Section 276-25 (definition of starting income year)

Repeal the definition, substitute:

starting income year means:

(a) unless paragraph (b) or (c) applies - the 2017-18 income year; or

(b) if the trustee of the trust has made a choice for the purposes of paragraph 1(1)(b) of Schedule 8 to the Tax Laws Amendment (New Tax System for Managed Investment Trusts) Act 2016 - the first income year starting on or after 1 July 2015; or

(c) if the trustee of the trust has made a choice for the purposes of subparagraph 276-10(1)(e)(i) of the Income Tax Assessment Act 1997 in respect of the 2016-17 income year - that income year.