House of Representatives

Taxation Laws Amendment Bill (No. 6) 2001

Explanatory Memorandum

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

Index

Schedule 1: Petroleum resource rent tax

Bill reference Paragraph number
Part 1 - Sales gas
Item 1 1.10
Items 2 to 4 1.21
Item 5, paragraphs 24(1)(d) and (e) 1.13
Item 5, subsection 24(2) 1.14
Item 6 1.22
Item 7 1.23
Item 8, subsection 97(1AA) 1.18
Item 9, section 97(1AA) 1.19
Part 2 - 5 year rule
Items 10 to 12 2.9
Item 13, subsection 41(3) 2.12
Item 13, subsection 41(4) 2.13
Item 13, subsection 41(5) 2.14
Item 14 2.15
Item 15 2.16

Schedule 2: Income tax exemption for local government businesses

Bill reference Paragraph number
Item 1 3.10
Item 2, paragraph 24AT(ba) 3.8
Item 3 3.11

Schedule 3: Superannuation fund residence requirements

Bill reference Paragraph number
Item 1 4.7
Item 2 4.8, 4.9, 4.10
Item 3 4.11, 4.12
Item 4 4.13

Schedule 4: Tax relief for shareholders in listed investment companies

Bill reference Paragraph number
Item 1 5.36
Item 2 5.37
Item 3 5.38
Items 4 and 5 5.39
Items 6 and 7 5.40
Item 8 5.41
Item 9 5.42
Item 10, paragraphs 115-280(1)(a) and (b) 5.29
Item 10, paragraphs 115-280(1)(c) and (d) 5.26
Item 10, subsection 115-280(2) 5.30
Item 10, subsection 115-280(3) 5.24
Item 10, subsection 115-280(4) 5.32
Item 10, subsection 115-280(5) 5.33
Item 10, subsection 115-285(1) 5.19
Item 10, subsection 15-285(2) 5.20
Item 10, subsection 115-285(3) 5.21
Item 10, subsection 115-290(1) 5.11
Item 10, subsection 115-290(2) 5.12
Item 10, subsection 115-290(3) 5.16
Item 10, subsection 115-290(4) 5.13
Item 10, subsections 115-290(5) to (7) 5.14
Item 10, subsection 115-290(8) 5.15
Item 10, section 115-295 5.25
Items 11 and 12 5.43
Items 13 and 14 5.44
Item 15 5.35

Schedule 5: HIH rescue package

Bill reference Paragraph number
Items 1 and 6, sections 11-5 and 322-10 6.17
Items 2, 3 and 6, subsection 104-10(5) and section 322-15 6.15
Items 4 and 5 6.19
Item 6, section 322-1 6.7
Item 6, subsection 322-5(1) 6.9
Items 6 and 7, subsections 322-5(3) and 995-1(1) 6.13
Items 6 and 8, subsections 322-5(2) and 995-1(1) 6.10
Item 9 6.18
Item 10, section 78-120 6.23
Item 11, section 188-22 6.29
Items 12 and 13, section 195-1 6.30
Item 14 6.31

Schedule 6: Personal services income

Bill reference Paragraph number
Item 2, paragraph 87-40(1)(a) 7.14
Item 2, paragraph 87-40(1)(b) 7.12
Item 2, paragraph 87-40(1)(c) 7.12, 7.15
Item 2, paragraph 87-40(1)(d) 7.12, 7.16
Item 2, paragraph 87-40(1)(e) 7.12
Item 2, subsections 87-40(3) and (4) 7.24
Item 2, subsection 87-40(5) 7.28
Item 4, section 87-18 7.37
Item 4, subsection 87-15(1) 7.33
Item 4, subsection 87-15(3) 7.34
Items 4 and 5, paragraph 87-18(1)(a) and subsection 87-18(2) 7.42
Item 5 7.44
Items 7 to 9 7.47
Items 10 and 15 7.49
Items 11 and 16 7.51
Items 12 to 14 7.48
Item 17 7.53
Subitems 19(1) and (3) 7.54
Subitem 19(2) 7.56


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