Income Tax Assessment (1997 Act) Amendment (Term Subordinated Note) Regulations 2025
I, the Honourable Sam Mostyn AC, Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.
Dated 16 October 2025
Sam Mostyn AC
Governor‑General
By Her Excellency’s Command
Dr Daniel Mulino
Assistant Treasurer
Minister for Financial Services
1 Name
2 Commencement
3 Authority
4 Schedules
Schedule 1—Amendments
Income Tax Assessment (1997 Act) Regulations 2021
This instrument is the Income Tax Assessment (1997 Act) Amendment (Term Subordinated Note) Regulations 2025.
(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information | ||
Column 1 | Column 2 | Column 3 |
Provisions | Commencement | Date/Details |
1. The whole of this instrument | The day after this instrument is registered. | 17 October 2025 |
Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.
(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.
This instrument is made under the Income Tax Assessment Act 1997.
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
1 Paragraph 974‑135.05(3)(a)
Repeal the paragraph, substitute:
(a) the note is issued by:
(i) an entity regulated for prudential purposes by APRA or a comparable foreign regulator; or
(ii) a subsidiary of an entity that is regulated for prudential purposes by APRA or a comparable foreign regulator; and
2 In the appropriate position in Chapter 7
Insert:
The amendment made by Schedule 1 to the Income Tax Assessment (1997 Act) Amendment (Term Subordinated Note) Regulations 2025 applies to an obligation to pay the principal or interest on a relevant term subordinated note at a particular time on or after 12 December 2012.