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New International Tax Arrangements (Foreign-owned Branches and Other Measures) Bill 2005

New International Tax Arrangements (Foreign-owned Branches and Other Measures) Act 2005

Explanatory Memorandum

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

Index

Schedule 1: Dividends received by foreign-owned branches

Bill reference Paragraph number
Clause 2 1.37
Item 1, paragraph 44(1)(c) 1.25, 1.26
Item 1, subparagraph 44(1)(c)(ii) 1.28
Item 2, subsection 44(7); item 6, subsection 128B(3F); item 8, paragraph 115-280(1)(b) of the ITAA 1997; item 10, paragraph 207-75(2)(c) of the ITAA 1997 1.18
Item 3, subsection 102L(21A) 1.29
Item 4, subsection 102T(22A) 1.29
Item 5, subsection 128B(1); item 6, subsection 128B(3E) 1.14
Item 6, note to subsection 128B(3E) 1.14
Item 6, paragraph 128B(3E)(b) 1.16
Item 6, paragraph 128B(3E)(c) 1.21
Item 7, subsection 67-25(1DA) of the ITAA 1997 1.35
Item 8, paragraphs 115-280(1)(b) and (ba) of the ITAA 1997 1.38
Item 9, subsection 207-75(1) of the ITAA 1997 1.31
Item 10, subsection 207-75(2) of the ITAA 1997 1.31

Schedule 3: Financial entities

Bill reference Paragraph number
Clause 2; items 4 and 3 3.39
Clause 2; item 11 3.40
Item 1, note to subsection 160ZZVA(1); item 2, subsection 160ZZZK(2) 3.14
Item 1, note to subsection 160ZZVA(1); item 2, subsection 160ZZZK(3) 3.13
Item 2, section 160ZZZK; item 7, note to subsection 170-5(2A); item 9, note to subsection 170-105(2A); item 17, subparagraphs 820-597(1)(c)(ii) and 820-599(1)(c)(ii) 3.10
Item 3, subsection 262A(1BA) 3.42
Items 5 and 6 3.43
Item 7, note to subsection 170-5(2A); item 8, section 170-75; item 9, note to subsection 170-105(2A); item 10, section 170-174 3.17
Item 7, note to subsection 170-5(2A); item 9, note to subsection 170-105(2A) 3.18
Items 12 to 16, 22, 28 and 31 to 38 3.44
Item 13, subsection 820-445(4); item 27, subsection 820-609(7) 3.45
Item 17, sections 820-597 and 820-599 3.24
Item 17, paragraphs 820-597(1)(c) and 820-599(1)(c) 3.25
Item 17, subsections 820-597(2) and 820-599(2) 3.25
Item 17, subsections 820-597(3) and 820-599(3) 3.25
Items 18 to 21 and 23 to 26 3.26
Item 27, paragraph 820-609(1)(a) 3.30
Item 27, paragraph 820-609(1)(b) 3.31
Item 27, subsection 820-609(2) 3.33
Item 27, subsection 820-609(3) 3.33
Item 27, subsection 820-609(4) 3.32
Item 27, paragraph 820-609(4)(a) and subsection 820-609(6) 3.28
Item 27, subsection 820-609(5) 3.34, 3.35
Item 27, subsection 820-609(6) 3.34, 3.36
Item 27, note to subsection 820-609(7); item 29, note to subsection 820-613(1); item 30, subsections 820-613(3) and (4) 3.38

Schedule 4: Employee share options

Bill reference Paragraph number
Item 1, subsection 136(1), paragraph (hb) of the definition of 'fringe benefit' 4.60
Item 2, subsection 23AF(18), paragraph (a) of the definition of 'eligible foreign remuneration'; item 3, subsection 23AF(18), paragraph (b) of the definition of 'eligible foreign remuneration'; item 4, subsection 23AG(7), definition of 'foreign earnings' 4.21
Item 5, subsection 139B(1A) 4.34
Item 6, subsection 139B(2); item 7, subsection 139B(2A) 4.31
Item 7, subsection 139B(2A); item 8, subsection 139B(3); item 18, subsection 139E(2); item 19, subsections 139E(3) and (4) 4.35
Item 7, subsection 139B(2A); item 9, subsection 139CC(2) 4.33
Item 10, paragraphs 139CD(1)(a) and (b); item 11, note 1 to subsection 139CD(1); item 12, note 2 to subsection 139CD(1); item 13, section 139CDA 4.37
Item 14, paragraph 139D(1)(c); item 15, subsection 139D(2); item 16, subsection 139D(3) 4.31
Item 17, section 139DG 4.46
Item 20, section 139GA 4.28
Item 20, paragraph 139GA(2)(b) 4.29
Item 20, paragraph 139GA(2)(b); item 21, subsection 139GB(1) 4.38
Item 20, subsection 139GA(3) 4.36
Item 22, section 139GBA; item 23, section 139GH 4.25
Item 24, paragraph 160AEA(1)(q) 4.23
Item 25, subsection 530A(1A) 4.64
Item 26, paragraph 530A(1)(a); item 27, paragraph 530A(1)(b) 4.65
Item 28, subsection 104-160(5); item 29, subsection 104-160(6) 4.54
Item 30, subsection 130-80(4); item 34, subsection 130-85(4) 4.51
Item 31, paragraph 130-83(1)(b); item 33, subsection 130-83(4); item 36, subsection 136-40(4) 4.50
Item 32, subsection 130-83(2) 4.55
Item 35, paragraph 130-90(1A)(c) 4.59
Item 37 4.71
Item 39 4.71
Item 40 4.69
Item 41 4.70
Subitems 38(1) and (2) 4.66
Subitems 38(3) to (5) 4.67

Schedule 5: Technical correction

Bill reference Paragraph number
Item 1, subitem 140(2) in Schedule 2 to the NITA Act 2004 5.7, 5.8, 5.11, 5.12, 5.15, 5.16
Item 1, subitem 140(2A) in Schedule 2 to the NITA Act 2004 5.10, 5.14


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