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Taxation Laws Amendment (Research and Development) Bill 2001

Taxation Laws Amendment (Research and Development) Act 2001

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)

Index

Schedule 1: Streamlining amendments

Bill reference Paragraph number
Part 1, item 1, subsection 73B(1AAA) of the ITAA 1936 1.3
Part 1, item 2, section 39AA of the IR & DA 1986 1.3, 1.12
Part 2, item 3 1.4
Part 2, item 4 1.21
Part 3, item 5, subsection 73B(2BA) of the ITAA 1936 1.5
Part 3, item 6 1.21
Part 3, item 7, section 39KA of the IR & DA 1986 1.5, 1.13
Part 4, item 8, subsection 73B(2C) of the ITAA 1936 1.6, 1.17
Part 4, item 9 1.21

Schedule 2: Plant, etc.

Bill reference Paragraph number
Part 1, items 1 and 2, definition of 'plant expenditure' in subsection 73B(1) 2.9
Part 1, item 2 2.37
Part 2, item 3 2.38
Part 2, item 3, section 118-24A of the ITAA 1997 2.10
Part 3, items 4, 5 and 7 to 10, definitions of 'aggregate research and development amount', 'excluded plant expenditure' and 'research and development expenditure' in subsections 73B(1), 73B(15AAA) and (15AAAA) 2.4
Part 3, item 5 2.10
Part 3, items 11 and 54, subsections 73BD(1) to (11) and 73BK(1) to (11) 2.36
Part 3, items 11 and 54, sections 73BE and 73BL 2.36
Part 3, item 11, section 73BH 2.5
Part 3, item 11, subsection 73BH(2) 2.14
Part 3, items 11, 40 and 41, subsections 73BH(3) and (4) of the ITAA 1936 and subsections 42-365(2) and 42-455(4) of the ITAA 1997 2.13
Part 3, item 11, subsection 73BH(5) and paragraph 73BI(1)(a) 2.11
Part 3, item 11, subsection 73BH(6) 2.15
Part 3, item 11, section 73BI 2.5
Part 3, item 11, paragraph 73BI(1)(b) 2.11
Part 3, item 11, subsection 73BI(2) 2.11
Part 3, item 11, section 73BJ 2.5
Part 3, item 11, subsection 73BJ(2) 2.12
Part 3, items 11 and 33, subsection 73BJ(3) of the ITAA 1936 and subsection 42-25(4) of the ITAA 1997 2.12
Part 3, item 11, subsections 73BJ(4) and (5) 2.12
Part 3, item 11, section 73BL 2.5
Part 3, item 11, section 73BM 2.7
Part 3, item 11, subsection 73BM(1) 2.18
Part 3, item 11, subsections 73BM(2) and (3) 2.19
Part 3, item 11, subsections 73BM(4) to (6) 2.21
Part 3, item 11, section 73BN 2.5
Part 3, item 11, paragraph 73BN(2)(a) 2.16
Part 3, item 11, paragraph 73BN(2)(b) 2.17
Part 3, items 19 and 61, sections 73EA and 73EB 2.8
Part 3, items 19 and 61, subsections 73EA(1) and (2), 73EB(1) and (2) 2.33
Part 3, items 19 and 61, subsections 73EA(3) to (5) and 73EB(3) to (5) 2.34
Part 3, items 19 and 61, subsections 73EA(6) to (9) and 73EB(6) to (9) 2.35
Part 3, item 39, section 42-220A of the ITAA 1997 2.20
Part 3, item 51 2.39
Part 3, item 54, sections 73BA to 73BC, 73BE and 73BG 2.6
Part 3, item 54, subsection 73BA(2) 2.25
Part 3, items 54, 80 and 84, subsections 73BA(3) and (4) of the ITAA 1936 and subsections 40-425(8) and 328-175(9) of the ITAA 1997 2.24
Part 3, item 54, subsection 73BA(5) 2.22
Part 3, item 54, subsection 73BA(6) 2.26
Part 3, item 54, paragraphs 73BB(1)(a) to (c) 2.22
Part 3, item 54, subsections 73BC(2) to (5) of the ITAA 1936 2.23
Part 3, item 54, section 73BF 2.7
Part 3, item 54, subsection 73BF(1) 2.29
Part 3, item 54, subsections 73BF(2) and (3) 2.30
Part 3, item 54, subsections 73BF(4) to (6) 2.32
Part 3, item 54, paragraph 73BG(2)(a) 2.27
Part 3, item 54, paragraph 73BG(2)(b) 2.28
Part 3, item 75, subsection 40-65(6) of the ITAA 1997 2.23
Part 3, item 79, section 40-292 of the ITAA 1997 2.31
Part 3, item 92 2.40

Schedule 3: Refundable tax offset

Bill reference Paragraph number
Item 1 4.36
Item 2, subsections 73B(14AA) and (14AB) 3.27
Item 2, paragraphs 73B(14AC)(a) and (b) 3.28
Item 2, subsection 73B(14AC) 4.10
Items 3, 4, 6, 9 and 10 3.31
Item 5, section 73H 3.30
Item 5, subsection 73H(2) 3.13
Item 5, section 73I 3.4, 3.7, 4.8
Item 5, subsection 73I(3) 3.8
Item 5, subsection 73J(1) 3.5, 3.9
Item 5, subsection 73J(2) 3.6, 3.10
Item 5, subsection 73K(1) 3.11
Item 5, subsection 73K(2) 3.15
Item 5, subsection 73K(3) 3.16
Item 5, section 73L 4.7, 4.10, 4.13, 4.14
Item 5, subsection 73L(1) 3.17
Item 5, subsection 73L(2) 3.26
Item 5, subsection 73L(3) 3.21
Item 5, paragraph 73L(4)(a) 3.22
Item 5, paragraphs 73L(4)(b) and (c) 3.23
Item 5, subsection 73L(5) 3.24
Item 5, subsection 73L(6) 3.25
Item 5, subsection 73M(1) 3.19
Item 5, subsection 73M(2) 3.20
Items 7 and 8 3.32
Items 11 and 12 3.33
Items 13 to 18 3.34
Item 19 3.29

Schedule 4: Incremental tax incentive

Bill reference Paragraph number
Items 1 to 4 4.35
Item 5, definition of 'incremental expenditure' in subsection 73P(2) 4.9
Item 5, definition of 'R & D spend' in subsection 73P(2) 4.23
Item 5, subsections 73P(3) and (4) 4.9
Item 5, section 73P(5) 4.10
Item 5, paragraph 73Q(1)(a) 4.4, 4.11
Item 5, paragraph 73Q(1)(b) 4.5
Item 5, paragraph 73Q(1)(b) 4.12
Item 5, subsection 73Q(2) 4.5, 4.13
Item 5, section 73R 4.7
Item 5, subsection 73R(1) 4.14
Item 5, subsection 73R(2) 4.15
Item 5, subsections 73R(3) and (4) 4.20
Item 5, subsections 73R(5) and (6) 4.21
Item 5, section 73S 4.6, 4.22, 4.26, 4.29
Item 5, sections 73T to 73W 4.6, 4.22
Item 5, subsections 73T(1) and (2) 4.25
Item 5, subsections 73T(3) and (4) 4.26
Item 5, subsections 73U(1) and (2) 4.28
Item 5, section 73V 4.29
Item 5, section 73W 4.30
Item 5, section 73X 4.7, 4.22, 4.31
Item 5, section 73Y 4.6, 4.22, 4.32
Item 5, section 73Z 4.33
Items 6 to 8 3.32, 4.36
Item 9 3.32
Item 10 3.35
Item 11 4.34


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