House of Representatives
Tax Laws Amendment (2005 Measures No. 1) Bill 2005
Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello MP)Index
Schedule 1: Fringe benefits tax exemptions
| Bill reference | Paragraph number |
|---|---|
| Item 1, paragraph 58AA(1)(a) | 1.7 |
| Item 1, paragraph 58AA(1)(b) | 1.10 |
| Item 1, paragraph 58AA(1)(c) | 1.8 |
| Item 1, paragraph 58AA(1)(d) | 1.9 |
| Item 1, paragraphs 58AA(1)(e) and (f) | 1.11 |
| Item 1, subsection 58AA(2) | 1.9, 1.10 |
| Item 2, paragraph 58X(2)(g) | 1.13 |
| Item 3, paragraph 58X(2)(i) | 1.14 |
| Item 4, paragraph 58ZC(2)(c) | 1.15 |
| Item 5 | 1.16 |
Schedule 2: Effective life of assets declining in value
| Bill reference | Paragraph number |
|---|---|
| Item 1, subsection 40-102(4) | 2.7 |
| Item 2, subsection 995-1(1) , definition of 'gross vehicle mass' | 2.11 |
| Item 3 | 2.10 |
Schedule 3: Supplies of rights or options offshore
| Bill reference | Paragraph number |
|---|---|
| Items 1 and 2, paragraph 9-25(5)(c) | 3.8 |
| Item 3, paragraph 83-5(1)(c) | 3.19 |
| Item 4, paragraph 83-5(2)(a) | 3.18 |
| Item 5 | 3.15 |
| Items 7 and 8, subsections 84-5(1) and (2) | 3.13 |
| Item 9, subsection 84-10(3) | 3.14 |
| Items 10 to 16, subsection 84-13(1) - paragraph (a) of the definition of 'full input tax credit', section 129-70 - paragraph (b) of the definition of 'full input tax credit', section 129-75 - paragraph (b) of the definition of 'full input tax credit', subsection 132-5(2) - paragraph (b) of the definition of 'full input tax credit' | 3.20 |
| Item 17 | 3.21 |
Schedule 4: Mature age worker tax offset
| Bill reference | Paragraph number |
|---|---|
| Item 1 | 4.31 |
| Item 2, sections 61-560 and 61-565 | 4.6 |
| Item 2, subsection 61-565(1) | 4.24 |
| Item 2, subsection 61-565(2) | 4.25 |
| Item 2, subsection 61-565(3) | 4.24, 4.25 |
| Item 2, subsection 61-570(1); item 3, subsection 995-1(1), definition of 'net income from working' | 4.8 |
| Item 2, subparagraph 61-570(1)(a)(i) | 4.11 |
| Item 2, subparagraph 61-570(1)(a)(ii) | 4.13 |
| Item 2, subparagraph 61-570(1)(a)(iii) | 4.22 |
| Item 2, paragraph 61-570(1)(b); item 4, subsection 995-1(1), definition of 'reportable fringe benefits total' | 4.21 |
| Item 2, subsection 61-570(2) | 4.14 |
| Items 3 and 4, subsection 995-1(1), definitions of 'net income from working' and 'reportable fringe benefits total' | 4.32 |
| Item 5 | 4.30 |