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GC 18: Loan features disregarded by rules for transfer pricing arrangements
or “Rules for ignoring certain loan features in transfer pricing arrangements”
You could also call this:

“Financial arrangements before July 2018 are subject to specific rules”

If you entered into a financial arrangement before your first income year that starts on or after 1 July 2018, this part of the law applies to you and your financial arrangement for income years starting on or after 1 July 2018. The law treats your financial arrangement as if it was adjusted by sections GC 15 to GC 18 on the last day before 1 July 2018 that you entered, renewed, extended, or renegotiated the loan.

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Next up: GC 20: Effect of purchase price allocation agreement

or “Agreement on sale price allocation for different property types in a transaction”
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Part G Avoidance and non-market transactions
Market value substituted

GC 19Sections GC 15 to GC 18 and financial arrangements entered before application period

  1. If a person enters a financial arrangement before the first income year of the person beginning on or after 1 July 2018, this subpart applies to the person and the financial arrangement for the income years beginning on or after 1 July 2018 as if the aspects of the financial arrangement were adjusted by sections GC 15 to GC 18 as at the date that is the last day before 1 July 2018 on which the loan is entered, renewed, extended, or renegotiated.

Notes
  • Section GC 19: inserted, on , by section 42(1) (and see section 42(2) for application) of the Taxation (Neutralising Base Erosion and Profit Shifting) Act 2018 (2018 No 16).