SENATE
New Business Tax System (Simplified Tax System) Bill 2000
Revised Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello, MP) THIS MEMORANDUM TAKES ACCOUNT OF AMENDMENTS MADE BY THE HOUSE OF REPRESENTATIVES TO THE BILL AS INTRODUCEDIndex
Schedule 1: Simplified Tax System
| Bill reference | Paragraph number |
|---|---|
| Item 1, Subdivision 328-A | 1.2 |
| Item 1, Subdivision 328-C | 1.9 |
| Item 1, Subdivision 328-D | 1.9 |
| Item 1, Subdivision 328-E | 1.9 |
| Item 1, Subdivision 328-F | 2.1 |
| Item 1, Subdivision 328-G | 3.1 |
| Item 1, section 328-50 | 1.7 |
| Item 1, paragraph 328-105(1)(a) | 4.13 |
| Item 1, paragraph 328-105(1)(b) | 4.19, 4.21 |
| Item 1, paragraph 328-105(2)(a) | 4.28 |
| Item 1, paragraph 328-105(2)(b) | 4.17 |
| Item 1, paragraph 328-105(2)(c) | 4.23 |
| Item 1, section 328-110 | 4.33 |
| Item 1, subsection 328-110(2) | 4.34 |
| Item 1, subsection 328-110(3) | 4.35 |
| Item 1, subsection 328-110(4) | 4.37 |
| Item 1, subsection 328-110(5) | 4.38 |
| Item 1, subsection 328-110(6) | 4.40 |
| Item 1, section 328-115 | 4.42 |
| Item 1, subsection 328-115(2) | 4.43 |
| Item 1, subsection 328-115(3) | 4.46 |
| Item 1, section 328-170 | 5.3 |
| Item 1, subsection 328-175(1) | 5.13 |
| Item 1, subsection 328-175(2) | 5.14 |
| Item 1, subsection 328-175(3) | 5.21, 5.73 |
| Item 1, subsection 328-175(4) | 5.21 |
| Item 1, subsection 328-175(5) | 5.23, 5.24 |
| Item 1, subsection 328-175(7) | 5.27 |
| Item 1, subsection 328-175(8) | 5.28 |
| Item 1, section 328-180 | 5.31 |
| Item 1, subsection 328-185(1) | 5.15 |
| Item 1, subsection 328-185(2) | 5.16 |
| Item 1, subsection 328-185(3) | 5.17 |
| Item 1, subsection 328-185(4) | 5.17, 5.44 |
| Item 1, subsections 328-185(5) and (6) | 5.46 |
| Item 1, subsection 328-185(7) | 5.19 |
| Item 1, subsection 328-190(1) | 5.16, 5.43 |
| Item 1, subsection 328-190(2) | 5.44 |
| Item 1, subsection 328-190(3) | 5.47 |
| Item 1, subsection 328-190(4) | 5.48 |
| Item 1, subsection 328-195(1) | 5.35, 5.52 |
| Item 1, subsection 328-195(2) | 5.36, 5.52 |
| Item 1, subsection 328-195(3) | 5.37 |
| Item 1, section 328-200 | 5.49, 5.55 |
| Item 1, subsections 328-205(1) and (2) | 5.38 |
| Item 1, subsection 328-205(3) | 5.41 |
| Item 1, subsection 328-205(4) | 5.42, 5.50 |
| Item 1, paragraphs 328-205(4)(b) and (c) | 5.51 |
| Item 1, section 328-210 | 5.58 |
| Item 1, paragraph 328-215(2)(a) | 5.56 |
| Item 1, paragraph 328-215(2)(b) | 5.59 |
| Item 1, subsection 328-215(3) | 5.56, 5.59 |
| Item 1, subsection 328-215(4) | 5.60 |
| Item 1, section 328-220 | 5.79 |
| Item 1, subsection 328-225(1) | 5.63 |
| Item 1, subsection 328-225(2) | 5.52, 5.63 |
| Item 1, subsection 328-225(3) | 5.72 |
| Item 1, subsection 328-225(4) | 5.67 |
| Item 1, paragraph 328-225(4)(a) | 5.66 |
| Item 1, paragraph 328-225(4)(b) | 5.70 |
| Item 1, paragraph 328-225(5)(a) | 5.75 |
| Item 1, paragraph 328-225(5)(b) | 5.62 |
| Item 1, section 328-230 | 5.76 |
| Item 1, section 328-235 | 5.78 |
| Item 1, section 328-280 | 6.9 |
| Item 1, subsection 328-285(1) | 6.11, 6.13 |
| Item 1, subsection 328-285(2) | 6.12 |
| Item 1, paragraph 328-290(a) | 6.20 |
| Item 1, paragraph 328-290(b) | 6.20 |
| Item 1, subsection 328-295(1) | 6.17, 6.21 |
| Item 1, subsection 328-295(2) | 6.18 |
| Item 1, subsection 328-365(1) | 2.4 |
| Item 1, subsection 328-365(2) | 2.6 |
| Item 1, paragraphs 328-365(3)(a) and (b) | 2.14 |
| Item 1, section 328-370 | 2.5, 2.10 |
| Item 1, subsection 328-370(2) | 2.12 |
| Item 1, subsection 328-370(3) | 2.16, 2.17 |
| Item 1, subsection 328-370(4) | 2.18 |
| Item 1, subsection 328-375(1) | 2.21 |
| Item 1, subsection 328-375(2) | 2.29 |
| Item 1, subsection 328-375(3) | 2.28 |
| Item 1, subsection 328-375(4) | 2.32 |
| Item 1, section 328-380 | 2.33 |
| Item 1, subsection 328-380(2) | 2.41, 2.48 |
| Item 1, subsection 328-380(3) | 2.41 |
| Item 1, paragraph 328-380(4)(a) | 2.44 |
| Item 1, paragraph 328-380(4)(b) | 2.45 |
| Item 1, subsection 328-380(5) | 2.46, 2.47 |
| Item 1, subsection 328-380(6) | 2.47 |
| Item 1, subsection 328-380(7) | 2.42 |
| Item 1, subsection 328-380(8) | 2.36 |
| Item 1, subsection 328-380(9) | 2.37 |
| Item 1, section 328-435 | 3.3, 3.8, 3.9 |
| Item 1, subsections 328-440(1) and (2) | 3.7 |
| Item 1, subsection 328-440(3) | 3.8 |
| Item 2 | 1.24, 6.26 |
Schedule 2: Consequential amendments
| Bill reference | Paragraph number |
|---|---|
| Item 1 | 1.26 |
| Items 2 to 4 | 4.49 |
| Item 5 | 5.84, 6.28 |
| Items 6 and 7 | 6.29 |
| Item 8 | 6.30 |
| Items 9 and 10, subsections 70-40(1) and (2) | 6.17, 6.21 |
| Item 11 | 6.31 |
| Items 12 to 14 | 5.85 |
| Item 15 | 2.30 |
| Items 16 to 18 | 5.85 |
| Item 19 | 2.39 |
| Item 20 | 2.13 |
| Item 21 | 2.22 |
| Item 22 | 1.27 |
| Item 23 | 5.85 |
| Item 24 | 1.28, 6.32 |
Schedule 3: Deducting prepayments
| Bill reference | Paragraph number |
|---|---|
| Items 2 and 3, subparagraphs 82KZM(1)(aa)(i) and (ii) and item 4, paragraphs 82KZM(1)(b) and (ba) | 7.11 |
| Item 5, subsection 82KZMA(1), notes 1 and 2 | 7.18 |
| Items 6 and 7, paragraphs 82KZMA(2)(a) and (b) | 7.13 |
| Items 6 to 8, paragraphs 82KZMA(2)(a) and (b) and subsection 82KZMA(3) | 7.12 |
| Item 9A, subsection KZMB(8) and item 10, subsection 82KZMC(1A) | 7.14 |
| Items 11 to 13, paragraph 82KZME(1)(b), subsection 82KZME(1), notes 1 and 2 | 7.15 |
| Item 14 | 7.16 |
| Sub-item 15(1) | 7.17 |
| Sub-item 15(2) | 7.16, 7.18 |