Senate
Taxation Laws Amendment Bill (No. 4) 2003
Revised Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)Index
Clauses:
| Bill reference | Paragraph number |
|---|---|
| Subclause 2(1), items 5, 7, 9, 11 and 13 in the table | 3.78 |
| Subclause 2(1), items 5A, 8A and 12A in the table | 3.79 |
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 | 3.81 |
| Item 3, subparagraph 6AB(2)(b)(vi) of the ITAA 1936 | 3.81 |
| Item 4, paragraph 6AB(3A)(b) of the ITAA 1936 | 3.81 |
| Item 5, paragraph 6AB(3A)(c) of the ITAA 1936 | 3.81 |
| Item 6, paragraph 23(jd) of the ITAA 1936 | 3.36 |
| Item 7, note to subsection 23AE(1A) of the ITAA 1936 | 3.83 |
| 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 | 3.84 |
| 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 | 3.81 |
| Item 37, paragraph 128TA(2)(a) of the ITAA 1936 | 3.81 |
| Item 38, paragraph 128TA(2)(b) of the ITAA 1936 | 3.81 |
| Item 39, section 160AFCD of the ITAA 1936 | 3.81 |
| Item 40, section 160AFCJ of the ITAA 1936 | 3.81 |
| Item 41, paragraph 160AQT(4)(b) of the ITAA 1936 | 3.64, 3.82 |
| Item 42, paragraph 160AQU(2)(b) of the ITAA 1936 | 3.64, 3.82 |
| Item 43, paragraph 160AQWA(1)(b) of the ITAA 1936 | 3.64, 3.83 |
| Item 44,subparagraph 160AQZB(1)(c)(ii) of the ITAA 1936 | 3.64, 3.83 |
| Item 45, subparagraph 160AQZC(1)(c)(ii) of the ITAA 1936 | 3.64, 3.83 |
| Item 46, subsection 170(10AB) of the ITAA 1936 | 3.76, 3.83 |
| Item 46A, paragraph 177EA(15)(b) ITAA 1936 | 3.83 |
| Item 47, subparagraph 530(1)(d)(i) of the ITAA 1936 | 3.81 |
| 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 | 3.824 |
| 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, 3.76 |
| Item 59, heading to Division 11 of the ITAA 1997 | 3.84 |
| 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 70A, paragraph 15-60(3)(b) of the ITAA 1997 | 3.81, 3.83 |
| Item 71, subparagraph 17-5(c)(ii) of the ITAA 1997 | 3.68 |
| Item 72, section 20-160 of the ITAA 1997 | 3.76, 3.85 |
| Item 73, Division 22 and sections 22-1 and 22-5 of the ITAA 1997 | 3.36, 3.76 |
| Item 74, heading to section 25-90 of the ITAA 1997 | 3.84 |
| Item 75, paragraph 25-90(b) of the ITAA 1997 | 3.81 |
| 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 | 3.84 |
| Item 82, section 51-15 of the ITAA 1997 | 3.85 |
| 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 | 3.85 |
| 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, 3.76 |
| 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 | 3.82 |
| Item 100, subsection 118-20(6) of the ITAA 1997 | 3.81 |
| 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 | 3.84 |
| 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, 3.83 |
| Item 110, paragraph 207-120(2)(b) of the ITAA 1997 | 3.64, 3.83 |
| 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 | 3.81 |
| Item 124, paragraph 320-5(2)(a) of the ITAA 1997 | 3.81 |
| Item 125, section 320-10 of the ITAA 1997 | 3.81 |
| 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 128A, paragraph 320-112(3)(b) of the ITAA 1997 | 3.81, 3.83 |
| 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 | 3.85 |
| Item 133, Division 22 of the IT(TP) Act 1997 | 3.76, 3.84 |
| Item 134, paragraph 360-65(1)(da) in Schedule 1 to the TAA 1953 | 3.81 |
| Item 135, paragraph 360-75(a) in Schedule 1 to the TAA 1953 | 3.83 |
| Item 136 section 360-75 in Schedule 1 to the TAA 1953, item 45 of the table | 3.81 |
| Item 137, section 360-77 in Schedule 1 of the TAA 1953 | 3.81 |
| Item 138, paragraph 360-100(1)(ea) in Schedule 1 to the TAA 1953 | 3.81 |
| 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 |
| Subitem 140(7) | 3.73 |
| Subitem 140(8) | 3.73 |
| Subitem 141(1) | 3.74 |
| Subitem 141(2) | 3.75 |
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 |