House of Representatives
Tax Laws Amendment (2004 Measures No. 6) Bill 2004
Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello MP)Index
Schedule 1: Consolidation
| Bill reference | Paragraph number |
|---|---|
| Item 2, subsection 703-30(3) | 1.17 |
| Item 2, paragraph 703-30(3)(b) | 1.27 |
| Items 3 and 4 | 1.44 |
| Item 5, section 705-56 | 1.35 |
| Item 5, subsection 705-56(1) | 1.38, 1.39 |
| Item 5, subsections 705-56(2) to (4) | 1.37 |
| Item 5, subsections 705-56(2) and (5) | 1.40 |
| Item 5, subsection 705-56(3) | 1.45 |
| Item 5, subsections 705-56(3) and (4) | 1.46 |
| Item 5, subsections 705-56(3) and (5) | 1.42 |
| Item 5, paragraphs 705-56(3)(a) and (b); item 6, section 711-30 | 1.43 |
| Item 6, subsection 711-30(3) | 1.47 |
| Item 7, section 711-45 | 1.48 |
| Item 8, section 716-300 | 1.55 |
| Item 8, paragraph 716-300(1)(c) | 1.56 |
| Item 9, subsection 705-300(1) | 1.66 |
| Item 9, subsection 705-300(2) | 1.67 |
| Item 9, subsection 705-305(1) | 1.68 |
| Item 9, subsection 705-305(2) | 1.78 |
| Item 9, subsections 705-305(3) and (4) | 1.74 |
| Item 9, subsection 705-305(5) | 1.70 |
| Item 9, subsection 705-305(6) | 1.76 |
| Item 9, subsection 705-305(7) | 1.82 |
| Item 9, subsection 705-305(8) | 1.85 |
| Item 9, subsection 705-305(9) | 1.86 |
| Item 9, subsection 705-310(1) | 1.88 |
| Item 9, subsection 705-310(2) | 1.89 |
| Item 9, subsection 705-310(3) | 1.87 |
| Item 10, section 712-305 | 1.92 |
| Item 11, subsections 716-330(1) and (2) | 1.99 |
| Item 11, subsection 716-330(3) | 1.104 |
| Item 11, subsection 716-330(4) | 1.106 |
| Item 11, subsection 716-330(5) | 1.108 |
| Item 11, subsection 716-330(6) | 1.109 |
| Item 11, subsections 716-330(7) and (8) | 1.101 |
| Item 11, subsection 716-330(9) | 1.102 |
| Item 11, subsection 716-335(1) | 1.110 |
| Item 11, subsection 716-335(2) | 1.111 |
| Item 11, subsection 716-335(3) | 1.117 |
| Item 11, subsection 716-335(4) | 1.114 |
| Item 11, subsection 716-335(5) | 1.112 |
| Item 11, subsection 716-340(1) | 1.121 |
| Item 11, subsection 716-340(2) | 1.126 |
| Item 11, subsection 716-340(3) | 1.131 |
| Item 11, subsections 716-340(4) and (5) | 1.130 |
| Item 11, subsections 716-340(6) to (8) | 1.127 |
| Item 11, subsection 716-345(1) | 1.132 |
| Item 11, subsection 716-345(2) | 1.134 |
| Item 11, subsection 716-345(3) | 1.133 |
| Item 12, section 716-340 of the Income Tax (Transitional Provisions) Act 1997 | 1.229 |
| Item 13, subsection 165-115ZC(1) | 1.176 |
| Items 14 to 18, subsections 165-115ZC(4), (5), (7A) and (7B) | 1.180 |
| Item 18, subsection 165-115ZC(7C) | 1.181 |
| Item 19 | 1.230 |
| Item 20, subsection 165-115ZC(4) of the Income Tax (Transitional Provisions) Act 1997 | 1.173 |
| Item 20, subsection 165-115ZC(5) of the Income Tax (Transitional Provisions) Act 1997 | 1.174 |
| Item 20, subsection 165-115ZC(6) of the Income Tax (Transitional Provisions) Act 1997 | 1.175 |
| Item 21, subsection 705-50(3A) | 1.148 |
| Item 22, subsection 705-90(10) | 1.143 |
| Item 23, note at the end of paragraph 705-95(b) | 1.146 |
| Item 24, subsection 705-90(2A) | 1.153 |
| Item 25, section 701-32 | 1.160 |
| Item 25, section 701-34 | 1.161 |
| Item 26, subsection 715-659(2) | 1.195 |
| Item 26, paragraph 715-660(1)(a) | 1.190 |
| Item 26, paragraph 715-660(1)(b) | 1.191 |
| Item 26, subsections 715-660(2) and (3) | 1.189 |
| Item 26, subsection 715-660(4) | 1.194 |
| Item 26, subsection 715-660(5) | 1.196 |
| Item 26, subsection 715-665(1) | 1.206 |
| Item 26, subsection 715-665(2) | 1.200 |
| Item 26, subsection 715-665(3) | 1.207 |
| Item 26, subsections 715-665(4) and (7) | 1.208 |
| Item 26, subsections 715-665(5) and 715-659(2) | 1.209 |
| Item 26, subsection 715-665(6) | 1.210 |
| Item 26, subsections 715-700(1) to (3) | 1.197 |
| Item 26, subsection 715-700(4) | 1.198 |
| Item 26, subsections 715-700(5) and 715-699(2) | 1.199 |
| Item 26, subsections 715-705(1) and (2) | 1.214 |
| Item 26, subsections 715-705(4) and (8) | 1.216 |
| Item 26, subsection 715-705(5) | 1.218 |
| Item 26, subsections 715-705(6 ) and 715-699(2) | 1.217 |
| Item 26, subsection 715-705(7) | 1.219 |
| Item 26, subsection 715-670(1) | 1.220 |
| Item 26, subsections 715-675(1) and 715-659(2) | 1.225 |
| Item 26, subsection 715-675(2) | 1.226 |
| Item 28 | 1.227 |
| Items 29 and 30, section 705-60 | 1.167 |
| Item 31, section 713-25 | 1.166 |
| Item 32, subparagraph 713-25(1)(c)(ii) | 1.165 |
Schedule 2: Copyright collecting societies
| Bill reference | Paragraph number |
|---|---|
| Item 3, subsection 15-20(2) | 2.16 |
| Item 4, section 15-22 | 2.15 |
| Item 4, subsection 15-22(1) | 2.15 |
| Item 5, paragraph 51-43(2)(a) | 2.8 |
| Item 5, paragraph 51-43(2)(b) | 2.12 |
| Item 6, section 410-5 | 2.18 |
| Item 7 and the definition of 'copyright collecting society' in subsection 995-1(1) | 2.21 |
| Item 8 and the definition of 'copyright income' in subsection 995-1(1) | 2.9 |
| Item 9 and the definition of 'member' in subsection 995-1(1) | 2.17 |
| Item 10 and the definition of 'non-copyright income' in subsection 995-1(1) | 2.11 |
| Item 11, section 410-1 | 2.23 |
| Item 12, section 288-75 | 2.19 |
| Item 13 | 2.24 |
Schedule 3: Simplified Imputation System
| Bill reference | Paragraph number |
|---|---|
| Part 1, item 4, sections 207-119, 207-120, 207-122, 207-124, 207-126, 207-128, 207-130, 207-132, 207-134 and 207-136 | 3.24 |
| Part 1, item 5, sections 976-155 and 976-160 | 3.25 |
| Part 1, items 6 to 13, subsection 995-1(1) | 3.26 |
| Part 2, items 1 to 25, 27 to 42 and 44 to 58 | Table 3.1 |
| Part 2, item 26, paragraph 46FB(4)(c) | 3.14 |
| Part 2, item 43, paragraph 128B(3)(ga) | 3.16 |
| Part 2, items 59 to 70 | Table 3.1 |
| Part 2, items 71 to 74 | Table 3.1 |
| Part 2, items 75 to 79 | Table 3.1 |
| Part 2, items 80 and 110, section 67-30 | 3.19 |
| Part 2, item 81 | Table 3.1 |
| Part 2, items 82 to 85 | Table 3.1 |
| Part 2, items 87 to 92; items 2 and 3 in the table in section 208-115; items 2, 3, 5 and 6 in the table in section 208-130 | 3.18 |
| Part 2, items 93 to 97, sections 208-165 and 208-170 | 3.17 |
| Part 2, item 98, paragraph 210-170(1)(e) | 3.20 |
| Part 2, items 99 to 102 | Table 3.1 |
| Part 2, item 103 | Table 3.1 |
| Part 2, item 104 | Table 3.1 |
| Part 2, item 105 | Table 3.1 |
| Part 2, items 106 and 107 | Table 3.1 |
| Part 2, item 108 | Table 3.1 |
| Part 3, subitems 111(1) and (3) | 3.28 |
| Part 3, subitem 111(2) | 3.29 |
| Part 3, subitems 111(4) and (5) | 3.30 |
| Part 3, item 112 | 3.31 |
| Part 3, item 113 | 3.32 |
| Part 3, item 114 | 3.33 |
Schedule 4: Deductible gift recipients
| Bill reference | Paragraph number |
|---|---|
| Item 1 | 4.7 |
| Item 2 | 4.35 |
| Item 3 | 4.24 |
| Items 3, 4, 10 to 12 and 16 | 4.37 |
| Items 3, 4, 10 to 13 and 16 | 4.15 |
| Item 4 | 4.17, 4.18 |
| Items 5 and 9 | 4.34 |
| Items 5 to 9, 14 and 15 | 4.28, 4.38 |
| Item 6 | Table 4.3 |
| Item 7 | 4.30 |
| Item 8 | 4.33 |
| Item 10 | 4.19, 4.20, 4.22, 4.23 |
| Item 11 | 4.21 |
| Item 12 | 4.26 |
| Item 13 | 4.11, 4.16, 4.36 |
| Item 14 | 4.31 |
| Item 15 | 4.32 |
| Item 16 | 4.25, 4.27 |
Schedule 5: Debt and equity interests
| Bill reference | Paragraph number |
|---|---|
| Item 1, paragraph 974-75(4)(d) | 5.10 |
| Item 2, paragraph 974-75(4)(d) | 5.7 |
| Item 3, subsection 974-75(4) | 5.6 |
Schedule 6: Irrigation water providers
| Bill reference | Paragraph number |
|---|---|
| Item 1, section 40-53; item 5, subsection 40-555(1); item 6, subsection 40-555(2) | 6.20 |
| Item 2, subsection 40-515(5) | 6.17 |
| Item 2, subsection 40-515(6) | 6.10 |
| Item 3, subsection 40-520(1) | 6.15 |
| Item 4, subsection 40-525(1) | 6.11 |
| Item 7, subsection 40-630(1A) | 6.22 |
| Item 7, subsection 40-630(1B) | 6.21 |
| Item 8, subsection 40-630(2A) | 6.31 |
| Item 8, subsection 40-630(2B) | 6.28 |
| Item 9, subsection 40-630(4) | 6.29 |
| Item 10, paragraph 40-630(1)(f) | 6.24, 6.30 |
| Item 11, subsection 40-635(1) | 6.26 |
Schedule 7: FBT housing benefits
| Bill reference | Paragraph number |
|---|---|
| Item 1, paragraph 58C(1)(b) | 7.9 |
| Item 3, paragraph 58C(2)(a) | 7.11 |
| Item 4, paragraph 58C(3)(c) | 7.14 |
| Item 4, paragraph 58C(3)(ca) | 7.13 |
| Item 5, subsection 58C(5) | 7.16 |
Schedule 8: CGT event G3
| Bill reference | Paragraph number |
|---|---|
| Item 1, section 104-5 | 8.23 |
| Item 2, subsection 104-145(1) | 8.8 |
| Item 2, subsections 104-145(2) and (4) | 8.14 |
| Item 2, paragraphs 104-145(3)(a) to (c) | 8.12 |
| Item 2, paragraphs 104-145(3)(d) and (e) | 8.13 |
| Item 2, subsection 104-145(5) | 8.15 |
| Item 2, paragraph 104-145(6)(a) | 8.16 |
| Item 2, paragraph 104-145(6)(b) | 8.17 |
| Item 2, subsection 104-145(7) | 8.20 |
| Item 2, subsection 104-145(8) | 8.21 |
| Item 3, section 112-45 | 8.24 |
| Item 4, section 136-10 | 8.25 |
| Items 5 to 7, paragraph 165-115GB(1)(b), subsection 165-115H(2) and section 165-115N | 8.26 |
| Item 8 | 8.22 |
Schedule 9: GST: Supplies to offshore owners of Australian real property
| Bill reference | Paragraph number |
|---|---|
| Item 1, subsection 38-190(2A) | 9.5 |
| Item 2, subsection 38-190(3) | 9.8 |
| Item 3 | 9.9 |
Schedule 10: Baby bonus adoption amendments
| Bill reference | Paragraph number |
|---|---|
| Item 13, paragraph 61-385(1A) | 10.9 |
| Item 20, section 61-440 | 10.7 |
| Item 20, section 61-445 | 10.8 |
| Item 20, subsection 61-450(2) | 10.10 |
| Item 20, subsection 61-450(3) | 10.11 |
| Item 20, subsection 61-450(4) | 10.11 |
| Item 20, subsection 61-450(5) | 10.11 |
| Item 20, section 61-455 | 10.13 |
Schedule 11: Technical correction
| Bill reference | Paragraph number |
|---|---|
| Item 1, item 5 in the table in subsection 2(1) | 11.5 |
Schedule 12: Transfer of life insurance business
| Bill reference | Paragraph number |
|---|---|
| Item 1, section 138-25 | 12.55 |
| Items 2 to 4, 6 and 7, subsections 320-30(1), 320-37(1), 320-40(1), the definition of 'life insurance premium' in subsection 995-1(1) of the ITAA 1997 and Division 126 of the Income Tax (Transitional Provisions) Act 1997 | 12.63 |
| Item 5, section 320-305 | 12.6 |
| Item 5, subsection 320-310(1) and section 320-320 | 12.14 |
| Item 5, subsections 320-310(2) and (3) | 12.18 |
| Item 5, section 320-315 and paragraph 320-320(2)(a) | 12.21 |
| Item 5, section 320-320 | 12.8, 12.23 |
| Item 5, subsection 320-320(1) | 12.10 |
| Item 5, paragraph 320-320(2)(b) | 12.11, 12.16 |
| Item 5, section 320-325 | 12.25 |
| Item 5, section 320-330 | 12.28 |
| Item 5, section 320-335 | 12.38 |
| Item 5, subsection 320-340(1) | 12.31 |
| Item 5, subsections 320-340(2) to (5) | 12.33 |
| Item 5, subsections 320-345(1) and (2) | 12.35 |
| Item 5, subsection 320-345(3) | 12.36 |
| Item 8, paragraphs 126-150(1)(a), (b) and (d) of the Income Tax (Transitional Provisions) Act 1997 | 12.40 |
| Item 8, paragraph 126-150(1)(c) of the Income Tax (Transitional Provisions) Act 1997 | 12.41 |
| Items 8 and 9, subsections 126-150(2) and (3) of the Income Tax (Transitional Provisions) Act 1997 | 12.43 |
| Item 8, subsections 126-155(1) and (2) of the Income Tax (Transitional Provisions) Act 1997 | 12.44 |
| Item 8, subsection 126-155(3) of the Income Tax (Transitional Provisions) Act 1997 | 12.45 |
| Item 8, subsection 126-160(1) of the Income Tax (Transitional Provisions) Act 1997 | 12.46 |
| Item 8, subsections 126-160(2), (3) and (5) of the Income Tax (Transitional Provisions) Act 1997 | 12.47 |
| Item 8, subsection 126-160(4) of the Income Tax (Transitional Provisions) Act 1997 | 12.48 |
| Item 8, section 126-165 of the Income Tax (Transitional Provisions) Act 1997 | 12.51 |
| Item 10, section 170-300 of the Income Tax (Transitional Provisions) Act 1997 | 12.60 |
| Item 11 | 12.61 |