The Greek word translated "dispensation" is "oikonomia" and is made up of two words, "oiko" meaning "house", and" nomia" which means "law". So literally, "oikonomia" means "house law". So when God goes from one dispensation to another His house law changes. His "house" is, in my opinion, the world. So in a new dispensation we see changes in how God deals with the world.
I believe that it was the setting aside of Israel that resulted in all the changes we see in the present dispensation. Let us look at the differences between the present dispensation and the preceding one in order to establish if indeed it was the putting aside of Israel that resulted in these changes. If that is the case, then one is led to the inescapable conclusion that the present dispensation and the church of this dispensation began with the setting aside of Israel.
Those differences are:
A NEW CALLING
A NEW SPHERE OF WITNESSING: FROM EARTH TO HEAVEN
THE GIFT OF HEALING IS SUSPENDED
THE TEMPLE IS DESTROYED
THE WORD "ETHNOS" USED OF ALL PEOPLE IN ALL NATIONS
PROPHECY THAT CENTERS ON ISRAEL IS PUT IN ABEYANCE
HOPE OF GLORY IS NO LONGER CONNECTED TO ISRAEL