• Legal database
Legal database
House of Representatives

Taxation Laws Amendment Bill (No. 7) 2003

Taxation Laws Amendment Act (No. 1) 2004

Explanatory Memorandum

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

Index

Clauses

Bill reference Paragraph number
Clause 4 9.132, 9.133

Schedule 1: Second World War payments

Bill reference Paragraph number
Item 1, section 23AL 1.7
Item 2 1.38
Item 3, subsection 118-37(5) 1.8

Schedule 2: Specific gift recipients

Bill reference Paragraph number
Item 1, subsection 30-25(2) 2.17, 2.19
Item 2, subsection 30-45(2) 2.18, 2.21
Item 3, subsection 30-70(2) 2.22

Schedule 3: Gifts and covenants

Bill reference Paragraph number
Item 1, subsection 30-5(3) 2.57
Item 2, subsection 30-5(4B) 2.100
Items 3 and 4, section 30-15, item 1 in the table, paragraphs (aa) and (c) in the column headed "Special conditions" 2.57
Item 5, section 30-15, item 2 in the table, paragraph (a) in the column headed "Recipient" 2.57
Items 6 to 8, section 30-15 (item 4 in the table, paragraph (a) in the column headed "Recipient" and paragraph (ba) in the column headed "Special Conditions") and section 30-15 (item 6 in the table, column headed "Recipient") 2.50, 2.52
Item 9, subsection 30-15(4) 2.54
Item 10, subsection 30-17(1) 2.59
Item 11, paragraph 30-17(1)(a) 2.57
Item 12, paragraph 30-17(1)(c) 2.58
Item 13, note to subsection 30-20(1) 2.57
Item 14, subsection 30-20(2) 2.34
Item 15, note to subsection 30-25(1) 2.57
Item 16, subsection 30-25(2) 2.34
Item 17, paragraph 30-30(1)(a) 2.57
Item 18, paragraph 30-30(1)(b) 2.34
Item 19, paragraph 30-30(1)(c) 2.34
Item 20, paragraph 30-30(1)(d) 2.34
Item 21, subsection 30-35(1) 2.57
Item 22, note to subsection 30-40(1) 2.57
Item 23, subsection 30-40(2) 2.34
Item 24, note to subsection 30-45(1) 2.57
Item 25, subsection 30-45(2) 2.34
Item 26, note to subsection 30-50(1) 2.57
Item 27, subsection 30-50(2) 2.34
Item 28, note to subsection 30-55(1) 2.57
Item 29, subsection 30-55(2) 2.34
Item 30, section 30-60 2.34
Item 30, section 30-60 2.45
Item 31, group heading before section 30-65 2.57
Item 32, section 30-65 2.34
Item 33, note to subsection 30-70(1) 2.57
Item 34, subsection 30-70(2) 2.34
Item 35, subsection 30-75(1) 2.57
Item 36, note to subsection 30-80(1) 2.57
Item 37, subsection 30-80(2) 2.34
Item 38, subsection 30-85(1) 2.57
Item 39, group heading before section 30-90 2.57
Item 40, section 30-90 2.34
Item 41, group heading before section 30-95 2.57
Item 42, section 30-95 2.34
Item 43, note to subsection 30-100(1) 2.57
Item 44, subsection 30-100(2) 2.34
Item 45, group heading before section 30-105 2.57
Item 46, section 30-105 2.34
Item 46, section 30-110 2.45
Item 46, section 30-105 2.36, 2.41
Item 46, subsection 30-105(7) 2.38
Item 47, section 30-115 2.59
Item 48, subparagraphs 30-125(1)(b)(i) and (ii) 2.59
Item 49, subsection 30-125(2) 2.58
Item 50, subsection 30-125(2) 2.57
Item 51, paragraph 30-227(2)(a) 2.59
Item 52, subparagraph 30-227(2)(a)(ii) 2.33, 2.36, 2.49, 2.52, 2.56
Item 53, paragraph 30-227(2)(b) 2.59
Item 54, section 30-228 2.59
Item 55, paragraph 30-230(2)(a) 2.58
Item 56, subsection 30-230(2A) 2.58
Item 57 2.85
Item 57, section 30-247 2.86
Item 57, subparagraph 30-247(1)(a)(i) 2.78
Item 57, section 30-248 2.78, 2.87
Item 57, subsection 30-248(1) 2.86
Item 57, subsection 30-248(2) 2.80
Item 57, subsection 30-248(3) 2.81
Item 57, subsection 30-248(4) 2.82
Item 57, subsection 30-248(5) 2.83, 2.88, 2.89
Item 57, section 30-249 2.87
Item 57, subsection 30-249(1) 2.84
Item 57, subsection 30-249(2) 2.84
Item 57, subsection 30-249A(1) 2.90
Item 57, subsection 30-249A(2) 2.92
Item 57, subsection 30-249A(3) 2.92
Item 57, subsection 30-249A(4) 2.92
Item 57, subsection 30-249B(1) 2.93
Item 57, subsection 30-249B(2) 2.95
Item 57, subsection 30-249B(3) 2.95
Item 57, subsection 30-249B(4) 2.95
Item 57, subsection 30-249C(1) 2.96
Item 57, subsection 30-249C(2) 2.97
Item 57, subsection 30-249C(3) 2.97
Item 57, subsection 30-249C(4) 2.97
Item 57, subsection 30-249D(1) 2.98
Item 57, subsection 30-249D(2) 2.99
Item 57, subsection 30-249D(3) 2.99
Item 58 2.60
Item 58, section 30-311 2.60
Item 58, subsection 30-312(1) 2.73
Item 58, subsection 30-312(2) 2.74
Item 58, subsection 30-312(3) 2.75
Item 58, paragraph 30-312(4)(a) 2.63
Item 58, paragraph 30-312(4)(b) 2.64
Item 58, subsection 30-313(1) 2.67
Item 58, subsection 30-313(2) 2.68
Item 58, section 30-314 2.69
Item 58, paragraph 30-314(1)(a) 2.70
Item 58, paragraph 30-314(1)(b) 2.71
Item 58, subsection 30-314(2) 2.71
Item 58, section 30-314A 2.61
Item 60, subsection 30-315(2) (numerous items in the table contained in the index to the Division) 2.59
Item 61, subsection 30-315(2), item 112AA in the table, column headed "Provision" 2.100
Item 63, note to subsection 31-5(3) 2.100
Item 65, subsection 31-10(2) 2.57
Item 66, paragraph 50-60(b) 2.57
Item 67, section 50-60 2.57
Item 68, subsection 50-75(2) 2.57
Item 69, paragraph 207-130(4)(a) 2.57
Item 70, paragraph 207-130(4)(b) and 207-130(4)(c) 2.57
Item 71, subsections 207-130(4A) and (4B) 2.57
Item 72 2.101
Item 73 2.44
Item 74 2.47
Items 75 to 77 2.106

Schedule 4: Amendment of the Crimes (Taxation Offences) Act 1980

Bill reference Paragraph number
Item 1, paragraph 3(2)(a) 3.10
Item 2, paragraphs 13(1)(a), (b) and (d) 3.9
Item 3, paragraphs 14(1)(a), (b) and (d) 3.9
Item 4, paragraphs 15(1)(a), (b) and (d) 3.9
Item 5, paragraphs 16(1)(a), (b) and (d) 3.9
Item 6, paragraphs 17(1)(a), (b) and (d) 3.9
Item 7, paragraphs 18(1)(a), (b) and (d) 3.9
Item 8, paragraphs 19(1)(a), (b) and (d) 3.9
Item 9, paragraphs 20(1)(a), (b) and (d) 3.9
Items 10 and 23 3.20
Item 11, paragraphs 3(2)(a) and (b) 3.17
Item 12, subsection 5(1) 3.17
Item 13, paragraph 5(2)(a) 3.17
Item 14, section 5 3.13
Item 15, subsections 6(1) 3.17
Item 16, paragraph 6(2)(a) 3.17
Item 17, section 6 3.13
Item 18, subsections 7(1) and (2) 3.13
Item 19, paragraph 7(3)(b) 3.17
Item 20, section 8 3.13
Item 21, subsection 9(1) 3.16
Item 22, subsections 13(2), 14(2), 15(2), 16(2), 17(2), 18(2), 19(2), 20(2) 3.17

Schedule 5: Consolidation: transitional foreign loss makers

Bill reference Paragraph number
Item 1, section 701D-1 4.10
Item 1, section 701D-10 4.13
Item 1, paragraph 701D-10(1)(a) 4.12
Item 1, subsection 701D-10(2) 4.12
Item 1, subsection 701D-10(3) 4.11
Item 1, subsection 701D-10(4) 4.12
Item 1, subsection 701D-10(5) 4.15
Item 1, subsection 701D-15(2) 4.18
Item 1, subsection 701D-15(3) 4.17
Item 2, paragraph 707-325(1)(c) 4.14
Item 3, paragraph 707-350(1)(d) 4.14
Item 4, section 719-10 4.19

Schedule 6: Goods and services tax: interaction with consolidation regime

Bill reference Paragraph number
Item 1, subsections 110-15(1) and (3) 5.14
Item 1, subsection 110-15(2) 5.15
Item 1, paragraph 110-15(2)(a) 5.16
Item 1, paragraph 110-15(2)(b) 5.16
Item 1, subsection 110-20(1) 5.18
Item 1, subsection 110-20(2) 5.19
Item 1, subsection 110-20(3) 5.19
Item 1, section 110-25 5.21
Item 1, paragraph 110-30(1)(a) 5.23
Item 1, paragraph 110-30(1)(b) 5.23
Item 1, paragraph 110-30(1)(c) 5.24
Item 1, paragraph 110-30(1)(d) 5.23
Item 1, subsection 110-30(2) 5.23
Item 1, paragraph 110-30(3)(a) 5.25
Item 1, paragraph 110-30(3)(b) 5.25
Item 1, subsections 110-30(4) 5.23
Items 2, 4 to 6, section 195-1 5.20
Items 3 and 10, section 195-1 5.22
Items 7 and 9, section 195-1 5.27
Item 8, section 195-1 5.27
Item 11 5.28

Schedule 7: Imputation for life insurance companies

Bill reference Paragraph number
Item 2, section 205-15; item 4, subsection 219-15(3) 6.7
Item 2, section 205-15 6.45
Item 3, subsection 205-25(1) 6.7, 6.20
Item 4, subsection 219-15(2), item 1 in the table 6.17, 6.18, 6.23
Item 4, subsection 219-15(2), item 2 in the table 6.30, 6.31
Item 4, subsection 219-15(2), item 3 in the table 6.32, 6.33
Item 4, subsection 219-15(2), item 4 in the table 6.34, 6.35
Item 4, subsection 219-15(2), items 5 and 6 in the table 6.37, 6.38, 6.42
Item 4, subsection 219-15(2), item 7 in the table 6.46
Item 4, subsection 219-15(3) 6.44
Item 4, subsection 219-30(2), item 1 in the table 6.27, 6.29
Item 4, subsection 219-30(2), item 2 in the table 6.47, 6.48
Item 4, section 219-45 6.21
Item 4, section 219-50 6.7, 6.24
Item 4, subsection 219-50(4) 6.25
Item 4, section 219-55 6.6, 6.36
Item 9 6.7
Item 9, section 219-40 6.52
Item 9, section 219-45 6.54

Schedule 8: Overseas forces tax offsets

Bill reference Paragraph number
Item 1, subsection 23AB(8A) 7.6
Item 2, subsection 79B(3A) 7.8

Schedule 9: Roll-over for FSR transitions

Bill reference Paragraph number
Item 1, section 108-50 8.98
Item 2, subsection 108-75(2) 8.88
Items 3 and 4, section 109-55 8.99
Item 5, section 112-115 8.101
Item 6 subsection 124-5(1) 8.102
Items 7 to 9, subsections 124-5(1) and (2) 8.103
Items 10 and 11, subsection 124-10(3) 8.104
Item 12, subsection 124-15(5) 8.105
Item 13, section 124-880 8.16
Item 13, paragraph 124-880(b) 8.18
Item 13, paragraph 124-880(d) 8.17
Item 13, sections 124-880, 124-885, 124-890, 124-900, 124-905 and 124-910 8.95
Item 13, section 124-885 8.52
Item 13, section 124-890 8.69
Item 13, subsection 124-895(1) 8.22, 8.54, 8.71
Item 13, subsection 124-895(2) 8.24, 8.56, 8.73
Item 13, subsections 124-895(3) to (7) 8.25, 8.74
Item 13, subsection 124-895(8) 8.26
Item 13, subsection 124-900(1) 8.30
Item 13, paragraph 124-900(1)(b) 8.33
Item 13, paragraph 124-900(1)(d) 8.31
Item 13, paragraph 124-900(1)(e) 8.32
Item 13, subsection 124-900(2) 8.36
Item 13, paragraph 124-900(3)(a) 8.38
Item 13, paragraph 124-900(3)(b) 8.39
Item 13, subsection 124-905(1) 8.59
Item 13, paragraph 124-905(1)(d) 8.60
Item 13, paragraph 124-905(1)(e) 8.61
Item 13, subsection 124-905(2) 8.62
Item 13, paragraph 124-905(3)(a) 8.64
Item 13, paragraph 124-905(3)(b) 8.65
Item 13, subsection 124-910(1) 8.77
Item 13, subsection 124-910(2) 8.78
Item 13, paragraph 124-910(3)(a) 8.80
Item 13, paragraph 124-910(3)(b) 8.81
Item 13, subsections 124-915(1) to (6) 8.41, 8.67, 8.83
Item 13, subsection 124-915(7) 8.42
Item 13, subsections 124-920(1) to (6) 8.44, 8.85
Item 13, subsections 124-920(7) to (10) 8.45, 8.86
Item 13, subsection 124-920(11) 8.46
Item 13, sections 124-925 and 124-930 8.97
Item 14, subsections 152-45(1A) and (1B) 8.91
Item 15, subsections 152-115(1A) and (1B) 8.92
Item 16, definition of 'Australian financial services licence' in subsection 995-1(1) 8.11
Item 17 8.95

Schedule 10: Foreign hybrids

Bill reference Paragraph number
Item 1, subsection 92(2) of the ITAA 1936 9.70
Item 2, section 94B of the ITAA 1936 9.138
Item 3, subsections 94D(4) and (5) of the ITAA 1936 9.37
Item 5, section 485AA of the ITAA 1936 9.33
Item 5, subsections 485AA(1) and (2) of the ITAA 1936 9.34
Item 5, subsections 485AA(3), (4) and (7) of the ITAA 1936 9.35
Item 5, subsection 485AA(5) of the ITAA 1936 9.36
Item 5, subsection 485AA(6) of the ITAA 1936 9.36
Item 6 9.116
Item 7, section 12-5 9.138
Items 9 and 10, subsections 102-25(2) and (2B) 9.137
Item 11, section 104-5 and item 13, section 110-10 9.137
Item 12, section 104-270 and item 15, paragraph 830-50(2)(b) 9.77
Item 14, section 112-97 9.137
Item 15, section 830-5 9.22
Item 15, subsection 830-10(1) 9.23
Item 15, paragraph 830-10(1)(a) 9.24
Item 15, paragraph 830-10(1)(b) 9.25
Item 15, paragraph 830-10(1)(c) 9.26
Item 15, paragraph 830-10(1)(d) 9.27
Item 15, paragraph 830-10(1)(e) 9.28
Item 15, subsections 830-10(2) and 830-15(5) 9.36
Item 15, paragraph 830-15(1)(a) and subsection 830-15(2) 9.31
Item 15, paragraphs 830-15(1)(b) to (d) 9.30
Item 15, subsections 830-15(3) and (4) 9.32
Item 15, section 830-20 and item 26, definition of 'foreign hybrid tax provisions' in subsection 995-1(1) 9.40
Item 15, section 830-25 9.41
Item 15, section 830-30 9.43
Item 15, section 830-35 9.88
Item 15, section 830-40 9.45
Item 15, section 830-45 9.67
Item 15, subsection 830-45(1) 9.53
Item 15, subsection 830-45(2) 9.69
Item 15, subsection 830-45(3) 9.70
Item 15, section 830-50 9.74
Item 15, subsection 830-50(3) 9.78
Item 15, subsection 830-50(4) 9.78
Item 15, section 830-55 9.54
Item 15, subsection 830-60(1) 9.57
Item 15, step 1 in subsection 830-60(1) 9.59
Item 15, step 1(b) in subsection 830-60(1) 9.60, 9.65
Item 15, step 2(a) in subsection 830-60(1) 9.66
Item 15, subsection 830-60(2) 9.61, 9.63
Item 15, paragraph 830-60(2)(f) 9.64
Item 15, sections 830-65 and 830-70 9.54
Item 15, subsections 830-65(2) and 830-70(2) 9.79
Item 15, subsection 830-65(3) 9.75
Item 15, subsections 830-75(1) and (2) 9.49
Item 15, subsections 830-75(3) and (4) 9.50
Item 15, sections 830-80 and 830-90 and subsections 830-95(1) and (2) 9.100
Item 15, sections 830-85 and 830-90 and subsection 830-95(3) 9.114
Item 15, section 830-90 9.102
Item 15, subsection 830-95(1) 9.103
Item 15, subsection 830-95(1) and section 830-100 9.104
Item 15, subsection 830-95(1) 9.105, 9.107
Item 15, subsection 830-95(2) 9.108, 9.111
Item 15, step 4 in subsection 830-95(2) 9.112
Item 15, subsection 830-95(3) 9.115
Item 15, section 830-100 9.98
Item 15, section 830-105 9.97
Item 15, section 830-110 9.83, 9.113
Item 15, subsection 830-115(1) 9.84
Item 15, subsection 830-115(2) 9.85
Item 15, section 830-120 9.86
Item 15, subsection 830-125(1) 9.89
Item 15, subsection 830-125(2) 9.94
Item 15, Subdivision 830-B 9.38
Item 15, Subdivision 830-D 9.80
Items 16 to 37, subsection 995-1(1) 9.138
Item 38, subsection 830-1(1) of the IT(TP) Act 1997 9.116
Item 38, subsection 830-1(2) of the IT(TP) Act 1997 9.117
Item 38, subsection 830-5(1) of the IT(TP) Act 1997 9.118
Item 38, subsection 830-5(2) of the IT(TP) Act 1997 9.118
Item 38, subsections 830-5(3) and (4) of the IT(TP) Act 1997 9.118
Item 38, section 830-10 of the IT(TP) Act 1997 9.119
Item 38, subsection 830-15(1) of the IT(TP) Act 1997 9.132
Item 38, paragraph 830-15(1)(b) of the IT(TP) Act 1997 9.131
Item 38, paragraphs 830-15(2)(a) to (c) of the IT(TP) Act 1997 9.132
Item 38, paragraphs 830-15(2)(d) and (e) of the IT(TP) Act 1997 9.133
Item 38, subsection 830-15(3) of the IT(TP) Act 1997 9.134
Item 38, paragraphs 830-15(3)(d) and (e) of the IT(TP) Act 1997 9.135
Item 38, subsections 830-15(4) and (5) of the IT(TP) Act 1997 9.136
Item 38, subsection 830-20(2) of the IT(TP) Act 1997 9.120
Item 38, subsections 830-20(3) and (4) of the IT(TP) Act 1997 9.125, 9.127
Item 38, subsection 830-20(5) of the IT(TP) Act 1997 9.130

Schedule 11: Technical amendments

Bill reference Paragraph number
Items 1 to 164 10.2


View full documentView full documentBack to top