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House of Representatives

Taxation Laws Amendment Bill (No. 4) 2003

Taxation Laws Amendment Act (No. 4) 2003

Explanatory Memorandum

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

Index

Clauses:

Bill reference Paragraph number
Subclause 2(1), items 6, 8, 10, 12 and 14 in the table 3.77

Schedule 1: Internal roll-overs

Bill reference Paragraph number
Item 3, subsection 27A(1) 1.20
Item 4, subsection 27A(1) 1.21
Item 5, subsection 27A(1) 1.22
Item 6, subsection 27A(1) 1.23
Item 7, subsection 27A(1) 1.25
Items 8 and 9, subsection 27A(1) 1.32
Item 10, subsection 27A(6) 1.26
Items 11, subsection 27A(12) 1.29
Item 12, paragraph 27A(13)(a) 1.30
Item 13, subsection 27AAAA(2) 1.32
Item 14, subsection 27AAAA(4) 1.32
Items 15 and 16, subsection 27AB(1) 1.32
Item 17, subparagraph 27D(1)(b)(ia) 1.29
Item 18 1.33

Schedule 2: Mining

Bill reference Paragraph number
Item 1, subsection 40-30(6) 2.4
Item 2 2.7
Item 3 2.9
Item 3, subsection 40-95(7) 2.10, 2.11, 2.12
Item 5 2.8
Item 6 2.17
Item 7, subsection 40-35(8) 2.18
Item 7, paragraph 40-35(7)(a) 2.22
Item 7, paragraph 40-37(7)(b) 2.23
Item 8, section 40-37 2.25
Item 8, subsection 40-37(1) 2.24
Item 8, paragraph 40-37(2)(a) 2.26
Item 8, paragraph 40-37(2)(b) 2.26
Item 8, paragraph 40-37(2)(c) 2.26
Item 8, paragraph 40-37(2)(d) 2.26
Item 8, subsections 40-37(3) and (4) 2.26
Item 8, subsection 40-37(5) 2.27
Item 8, subsection 40-37(6) 2.28
Item 8, section 40-38 2.29
Item 8, paragraph 40-38(2)(a) 2.31
Item 8, paragraph 40-38(2)(b) 2.31
Item 8, paragraph 40-38(2)(c) 2.31
Item 8, paragraph 40-38(2)(d) 2.31
Item 8, subsections 40-38(3) and (4) 2.31
Item 8, subsection 40-38(5) 2.32
Item 8 inserts paragraph 40-38(6)(a) 2.33
Item 8, paragraph 40-38(6)(b) 2.34
Item 9 will insert paragraph 40-40(6)(a) 2.39
Item 9, paragraph 40-40(6)(b) 2.40
Item 10, subsection 40-43(1) 2.41
Item 10, paragraph 40-43(2)(a) 2.42
Item 10, paragraph 40-43(2)(b) 2.42
Item 10, paragraph 40-43(2)(c) 2.42
Item 10, paragraph 40-43(2)(d) 2.42
Item 10, subsection 40-43(3) 2.42
Item 10, subsection 40-43(4) 2.43
Item 10, subsection 40-44(1) 2.45
Item 10, subsection 40-44(2) 2.46
Item 11, subsection 40-77(1A) 2.48
Item 11, subsection 40-77(1B) 2.49
Item 11, subsection 40-77(1C) 2.50
Item 12, paragraph 40-77(2)(a) 2.51
Item 13, subsection 40-77(4) 2.53
Item 13, subsection 40-77(5) 2.54
Item 13, subsection 40-77(6) 2.55
Item 13, subsection 40-77(7) 2.56
Item 13, subsection 40-77(8) 2.57
Item 14, paragraph 40-95(1)(a) 2.58
Item 14, paragraph 40-95(1)(b) 2.58
Item 14, subsection 40-95(2) 2.58
Item 14, subsection 40-95(3) 2.59
Item 15, subsection 40-287(3) 2.61
Item 15, subsection 40-288(3) 2.63
Item 15, subsections 40-287(1) and (2) 2.60
Item 15, subsections 40-288(1) and (2) 2.62
Item 16, paragraph 40-365(a) 2.65
Item 16, paragraph 40-365(b) 2.65
Item 16, paragraph 40-365(c) 2.65
Item 17 2.66

Schedule 3: Non-assessable non-exempt income

Bill reference Paragraph number
Item 1, subsection 6(1) of the ITAA 1936 3.25
Item 2, subparagraph 6AB(2)(b)(iv) of the ITAA 1936 3.79
Item 3, subparagraph 6AB(2)(b)(vi) of the ITAA 1936 3.79
Item 4, paragraph 6AB(3A)(b) of the ITAA 1936 3.79
Item 5, paragraph 6AB(3A)(c) of the ITAA 1936 3.79
Item 6, paragraph 23(jd) of the ITAA 1936 3.36
Item 7, note to subsection 23AE(1A) of the ITAA 1936 3.81
Item 8, subsection 23AH(2) of the ITAA 1936 3.43
Item 9, paragraphs 23AH(3)(d) of the ITAA 1936 3.43
Item 10, subsection 23AH(4) of the ITAA 1936 3.65
Item 11, paragraph 23AH(9)(d) of the ITAA 1936 3.43
Item 12, paragraph 23AI(1)(c) of the ITAA 1936 3.43
Item 13, paragraph23AI(1)(d) of the ITAA 1936 3.43
Item 14, paragraph 23AI(1)(e) of the ITAA 1936 3.44
Item 15, paragraph 23AI(1)(g) of the ITAA 1936 3.43
Item 16, subsection 23AJ(1) of the ITAA 1936 3.43
Item 17, paragraph 23AK(1)(c) of the ITAA 1936 3.43
Item 18, paragraph 23AK(1)(d) of the ITAA 1936 3.43
Item 19, paragraphs 23AK(1)(e) and (ea) of the ITAA 1936 3.44
Item 20, paragraph 23AK(1)(g) of the ITAA 1936 3.43
Item 21, paragraph 23AK(1)(h) of the ITAA 1936 3.43
Item 22, paragraph 23AK(1)(i) of the ITAA 1936 3.43
Item 23, subsection 23E(1) of the ITAA 1936 3.45
Item 24, subsection 23J(1) of the ITAA 1936 3.45
Item 25, subsections 23L(1) and (1A) of the ITAA 1936 3.44
Item 26, subparagraph 47A(7)(b)(i) of the ITAA 1936 3.79
Item 27, subsection 59(2AAA) of the ITAA 1936) 3.43
Item 28, section 90 of the ITAA 1936 3.47
Item 29, subsection 92(4) of the ITAA 1936 3.47
Item 30, subsection 95(1) of the ITAA 1936 3.47
Item 31, paragraph 97(1)(c) of the ITAA 1936 3.47
Item 32, subsection 99B(2A) of the ITAA 1936 3.43
Item 33, paragraph 102AAZB(a) of the ITAA 1936 3.82
Item 34, subsection 109ZC(3) of the ITAA 1936 3.52
Item 35, section 128D of the ITAA 1936 3.43
Item 36, paragraph 128TA(1)(a) of the ITAA 1936 3.79
Item 37, paragraph 128TA(2)(a) of the ITAA 1936 3.79
Item 38, paragraph 128TA(2)(b) of the ITAA 1936 3.79
Item 39, section 160AFCD of the ITAA 1936 3.79
Item 40, section 160AFCJ of the ITAA 1936 3.79
Item 41, paragraph 160AQT(4)(b) of the ITAA 1936 3.64, 3.81
Item 42, paragraph 160AQU(2)(b) of the ITAA 1936 3.64, 3.81
Item 43, paragraph 160AQWA(1)(b) of the ITAA 1936 3.64, 3.81
Item 44, subparagraph 160AQZB(1)(c)(ii) of the ITAA 1936 3.64, 3.81
Item 45, subparagraph 160AQZC(1)(c)(ii) of the ITAA 1936 3.64, 3.81
Item 46, subsection 170(10AB) of the ITAA 1936 3.81
Item 47, subparagraph 530(1)(d)(i) of the ITAA 1936 3.79
Item 48, subsection 271-105(3) of Schedule 2F to the ITAA 1936 3.52
Item 49, subsection 6-1(5) of the ITAA 1997 3.28
Item 50, note to subsection 6-15(2) of the ITAA 1997 3.66
Item 51, subsection 6-15(3) of the ITAA 1997 3.28
Item 52, subsection 6-20(1) of the ITAA 1997 3.67
Item 53, note to subsection 6-20(2) of the ITAA 1997 3.82
Item 54, subsection 6-20(3) of the ITAA 1997 3.67
Item 55, subsection 6-20(4) of the ITAA 1997 3.28
Item 56, section 6-23 of the ITAA 1997 3.25
Item 57, paragraph 8-1(2)(c) of the ITAA 1997 3.46
Item 58, section 10-5 of the ITAA 1997 3.39, 3.75
Item 59, heading to Division 11 of the ITAA 1997 3.82
Item 60, Subdivision 11-A of the ITAA 1997 3.38
Item 61, section 11-1A of the ITAA 1997 3.38
Items 62 to 69, checklist references in section 11-10 of the ITAA 1997 3.39
Item 70, Subdivision 11-B and sections 11-50 and 11-55 of the ITAA 1997 3.37, 3.38
Item 71, subparagraph 17-5(c)(ii) of the ITAA 1997 3.68
Item 72, section 20-160 of the ITAA 1997 3.75, 3.83
Item 73, Division 22 and sections 22-1 and 22-5 of the ITAA 1997 3.36, 3.75
Item 74, heading to section 25-90 of the ITAA 1997 3.82
Item 75, paragraph 25-90(b) of the ITAA 1997 3.79
Item 76, subsection 36-20(1) of the ITAA 1997 3.42
Item 77, paragraphs 36-20(2)(a) and (b) of the ITAA 1997 3.42
Item 78, subsections 36-20(3), (3A) and (4) of the ITAA 1997 3.42
Item 79, subsection 40-100(4) of the ITAA 1997 3.46
Item 80, subsection 40-105(1) of the ITAA 1997 3.46
Item 81, heading to Part 2-15 of the ITAA 1997 3.82
Item 82, section 51-15 of the ITAA 1997 3.83
Item 83, section 51-25 of the ITAA 1997 3.36
Item 84, section 51-45 of the ITAA 1997 3.36
Item 85, section 51-48 of the ITAA 1997 3.36
Item 86, section 51-49 of the ITAA 1997 3.36
Item 87, section 52-130 of the ITAA 1997 3.36
Item 88, section 58-90 of the ITAA 1997 3.83
Item 89, sections 59-1, 59-5, 59-10, 59-15, 59-20 and 59-25 of the ITAA 1997 3.35, 3.52
Item 90, section 59-30 of the ITAA 1997 3.35, 3.75
Items 91 and 94, section 65-30 and subsection 65-35(3) of the ITAA 1997 3.69
Items 92, 93 and 95, subsection 65-35(3) of the ITAA 1997 3.70
Item 96, paragraphs 104-71(1)(a) and (b) of the ITAA 1997 3.52
Item 97, paragraph 104-185(1)(e) of the ITAA 1997 3.46
Item 98, section 118-12 of the ITAA 1997 3.52
Item 99, paragraphs 118-20(4)(a) and (b) of the ITAA 1997 3.80
Item 100, subsection 118-20(6) of the ITAA 1997 3.79
Item 101, subsection 152-110(2) of the ITAA 1997 3.71
Item 102, note 2 to subsection 207-15(3) of the ITAA 1997 3.46
Item 103, note 2 to section 207-30 of the ITAA 1997 3.46
Item 104, heading to section 207-110 of the ITAA 1997 3.82
Item 105, paragraph 207-110(1)(c) of the ITAA 1997 3.46
Item 106, paragraph 207-110(2)(c) of the ITAA 1997 3.46
Item 107, paragraph 207-110(3)(c) of the ITAA 1997 3.46
Item 108, paragraph 207-110(4)(c) of the ITAA 1997 3.46
Item 109, paragraph 207-120(1)(b) of the ITAA 1997 3.64, 3.81
Item 110, paragraph 207-120(2)(b) of the ITAA 1997 3.64, 3.81
Item 111, subsection 208-5(1) of the ITAA 1997 3.46
Item 112, paragraph 208-5(2)(b) of the ITAA 1997 3.46
Item 113, paragraph 208-40(1)(b) of the ITAA 1997 3.46
Item 114, paragraph 208-40(2)(b) of the ITAA 1997 3.46
Item 115, paragraph 208-40(3)(b) of the ITAA 1997 3.46
Item 116, paragraph 208-40(4)(b) of the ITAA 1997 3.46
Item 117, section 208-115, item 2 of the table of the ITAA 1997 3.46
Item 118, section 208-115, item 3 of the table of the ITAA 1997 3.46
Item 119, section 208-130, item 2 of the table, of the ITAA 1997 3.46
Item 120, section 208-130, item 3 of the table, of the ITAA 1997 3.46
Item 121, section 208-130, item 5 of the table, of the ITAA 1997 3.46
Item 122, section 208-130, item 6 of the table, of the ITAA 1997 3.46
Item 123, section 320-1 of the ITAA 1997 3.79
Item 124, paragraph 320-5(2)(a) of the ITAA 1997 3.79
Item 125, section 320-10 of the ITAA 1997 3.79
Item 126, section 320-35 of the ITAA 1997 3.60
Item 126, section 320-37 of the ITAA 1997 3.55
Items 127, subsection 320-40(1) of the ITAA 1997 3.61
Item 128, subsection 320-40(8) of the ITAA 1997 3.61
Item 129, subsection 995-1(1) of the ITAA 1997 3.42
Item 130, subsection 995-1(1) of the ITAA 1997 3.42
Item 131, subsection 995-1(1) of the ITAA 1997 3.25
Item 132, section 20-115 of the IT(TP) Act 1997 3.83
Item 133, Division 22 of the IT(TP) Act 1997 3.75, 3.82
Item 134, paragraph 360-65(1)(da) in Schedule 1 to the TAA 1953 3.79
Item 135, paragraph 360-75(a) in Schedule 1 to the TAA 1953 3.81
Item 136 section 360-75 in Schedule 1 to the TAA 1953, item 45 of the table 3.79
Item 137, section 360-77 in Schedule 1 of the TAA 1953 3.79
Item 138, paragraph 360-100(1)(ea) in Schedule 1 to the TAA 1953 3.79
Item 139, paragraph 360-140(2)(a) in Schedule 1 to the TAA 1953 3.46
Subitem 140(1) 3.72
Subitem 140(2) 3.73
Subitem 140(3) 3.73
Subitem 140(4) 3.73
Subitem 140(5) 3.73
Subitem 140(6) 3.73
Item 141 3.74

Schedule 4: Refundable tax offset rules

Bill reference Paragraph number
Item 1, subsection 65-25(2), item 1A in the table 4.10
Item 2, subsections 67-25(1) to (1E) 4.12
Item 2, subsections 67-25(1C) to (1E) 4.14
Items 3 and 4, subsection 67-25(2) 4.15

Schedule 5: Foreign resident etc. withholding

Bill reference Paragraph number
Item 1, section 10-5, items 22B and 22C in the table 5.72
Items 2 and 3, subsections 12-1(2) and (3) 5.24
Items 4 and 5 5.50
Item 6, section 12-315 5.12
Item 6, subsection 12-315(1) 5.13, 5.44
Item 6, paragraph 12-315(1)(b) 5.23
Item 6, paragraph 12-315(1)(c) 5.26
Item 6, paragraph 12-315(2)(a) 5.14
Item 6, paragraph 12-315(2)(b) 5.20
Item 6, paragraph 12-315(2)(c) 5.16
Item 6, paragraph 12-315(2)(d) 5.21
Item 6, subsection 12-315(3) 5.27
Item 6, section 12-317 5.30
Item 6, subsection 12-317(1) 5.31
Item 6, paragraphs 12-317(1)(a) and (b) 5.32
Item 6, subsection 12-317(2) 5.33
Item 6, subsection 12-317(3) 5.34
Item 6, section 12-319 5.36
Item 6, subsection 12-319(2) 5.37
Item 6, subsection 12-319(3) 5.38
Item 6, subsections 12-319(4) and (5) 5.41
Item 7 5.53
Items 8 and 9 5.58
Item 10 5.56
Items 11 to 12 5.73
Item 13, section 16-43 5.57
Items 14 to 16 5.58
Items 17 to 20 5.62
Items 21 to 22 5.63
Items 23 to 24 5.64
Item 25 5.67
Items 26 and 27 5.60
Item 28 5.70
Item 29 5.58
Item 30 5.71

Schedule 6: PAYG withholding where no ABN is quoted

Bill reference Paragraph number
Item 1 6.8
Item 2, subsection 12-190(7) 6.9
Item 3 6.10

Schedule 7: FBT exemption for worker entitlements

Bill reference Paragraph number
Item 1, paragraph 58PA(b) 7.20
Item 1, paragraph 58PA(c) 7.22
Item 1, section 58PB 7.23
Item 1, subsection 58PB(1) 7.24
Item 1, subsection 58PB(2) 7.25
Item 1, subsection 58PB(3) 7.25
Item 1, subsection 58PB(4) 7.26
Item 1, paragraph 58PB(4)(a) 7.27
Item 1, paragraph 58PB(4)(b) 7.28
Item 1, paragraph 58PB(4)(c) 7.30
Item 1, subparagraph 58PB(4)(c)(i) 7.31
Item 1, subparagraph 58PB(4)(c)(ii) 7.32
Item 1, subparagraphs 58PB(4)(c)(iii), (iv) and (viii) 7.33
Item 1, subparagraphs 58PB(4)(c)(v) and (viii) 7.34
Item 1, subparagraph 58PB(4)(c)(vii) 7.35
Item 1, paragraph 58PB(4)(d) 7.36
Item 1, subparagraph 58PB(4)(d)(i) 7.37
Item 1, subparagraphs 58PB(4)(d)(ii) and (iii) 7.38
Item 1, paragraph 58PB(4)(e) 7.40
Items 2, 3 and 4 7.41
Items 5 and 9 7.44
Items 6 to 8, subsection 126-130(2) of the ITAA 1997 7.42


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