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Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Bill 2005

Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Act 2005

Explanatory Memorandum

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

Index

Schedule 1: Loss recoupment rules for companies etc.
Bill reference Paragraph number
Items 1 and 2, sections 80B and 160ZNRA of the ITAA 1936; items 73 and 78, sections 165-208 and 165-250 of the ITAA 1997 3.9
Items 1 and 2, subsections 80B(8A) and 160ZNRA(1) of the ITAA 1936; item 73, subsection 165-208(1) of the ITAA 1997 3.5
Items 1 and 2, subsections 80B(8B) and 160ZNRA(2) of the ITAA 1936; item 73, subsection 165-208(2) of the ITAA 1997 3.5
Items 4 to 9, 13, 18, 22, 27, 31, 41, 53, 59, 63, 66, 80, 89 and 98 2.56
Item 7, section 36-25 3.55
Items 10 and 11, subsection 125-60(2) and subparagraph 125-60(3)(a)(i) 3.64
Items 12, 14, 19 to 21, 24 to 26, 28, 33, 35, 36, 40, 43 to 45, 52, 55, 62, 65, 67, 74, 75, 81, 90, 107, 108, 110, 113, 115, 119 to 132, 137, 138 and 140 2.57
Items 14, 28, 42, 54 and 113 1.165
Items 16, 29, 46, 49 and 57, subsections 165-12(6), 165-37(3), 165-115C(3), 165-115L(4) and 165-123(6) 3.43
Item 17, subsection 165-12(7A) 3.29
Items 23, 32, 34, 51, 64, 82 to 86, 92, 94 to 97, 99 to 101 and 105 3.65
Item 30, subsection 165-37(4A) 3.29
Items 37, 38, 77, 87, 88 and 104, subsections 165-96(1), 165-235(2), 175-40(1) and 180-5(2) 3.54
Items 39 and 90, subsections 165-96(1) and 175-40(2) 3.56
Item 47, subsection 165-115C(4A) 3.29
Item 50, subsection 165-115L(5) 3.29
Item 58, subsection 165-123(7A) 3.29
Item 68 3.50
Items 69 and 70 3.49
Item 71, subsection 165-202(1) 3.34
Item 71, subsection 165-202(2) 3.35
Item 71, section 165-203 3.38
Item 72, subsection 165-207(2) 3.23
Item 72, subsection 165-207(3) 3.23
Item 72, subsection 165-207(4) 3.24
Item 73, section 165-209 3.51
Item 76, section 165-212A 1.28, 1.34
Item 76, subsection 165-212B(1) 2.18, 2.21
Item 76, paragraph 165-212B(2)(a) 2.22
Item 76, paragraph 165-212B(2)(b) 2.23
Item 76, section 165-212C 2.16
Item 76, subsection 165-212C(1) 2.25
Item 76, subsection 165-212C(2) 2.26
Item 76, subsection 165-212C(3) 2.28
Item 76, section 165-212D 3.21
Item 76, section 165-212E 3.17
Items 76 and 172, section 165-212A 2.10
Item 78, section 165-250 3.7
Item 78, subsection 165-255(1) 3.46
Item 78, subsection 165-255(2) 3.47
Item 79, section 166-3 1.7
Item 79, section 166-5 1.20, 1.23
Item 79, subsections 166-5(1), 166-20(1), 166-40(1) and 166-80(1) and section 166-220 1.12
Item 79, subsections 166-5(2) to (4) 1.24
Item 79, subsections 166-5(3), 166-20(2), 166-40(3) and 166-80(2) 1.21, 1.61
Item 79, subsection 166-5(5) 1.26
Item 79, subsection 166-5(6) 1.27
Item 79, sections 166-15, 166-35, 166-50 and 166-90 1.22
Item 79, section 166-20 1.20
Item 79, subsections 166-20(2) and (3) 1.40
Item 79, subsections 166-20(4) and (5) 1.43
Item 79, section 166-25 1.44
Item 79, section 166-40 1.20
Item 79, subsection 166-40(1) 1.45
Item 79, subsection 166-40(2) 1.47, 1.48
Item 79, subsection 166-40(3) 1.46, 1.47, 1.48
Item 79, subsections 166-40(4) and (5) 1.49
Item 79, subsection 166-40(6) 1.50
Item 79, section 166-80 1.20
Item 79, subsection 166-80(1) 1.51
Item 79, subsections 166-80(2) and (3) 1.52
Item 79, subsections 166-80(4) to (6) 1.54
Item 79, section 166-135 1.20
Item 79, section 166-145 1.55
Item 79, subsection 166-145(2) 1.56
Item 79, subsection 166-145(3) 1.56
Item 79, subsection 166-145(4) 1.56
Item 79, subsection 166-145(5) 1.25
Item 79, section 166-165 1.58
Item 79, paragraphs 166-175(1)(a) and (2)(a) 1.62
Item 79, paragraphs 166-175(1)(b) and (2)(b) 1.62
Item 79, paragraphs 166-175(1)(c) and (2)(b) 1.62
Item 79, paragraphs 166-175(1)(d) and (2)(c) 1.62
Item 79, paragraph 166-175(1)(e) and subsection 166-175(2) 1.63
Item 79, section 166-225 1.65, 1.65
Item 79, paragraph 166-225(2)(c) and section 166-265 1.68
Item 79, subsections 166-225(3) and 166-255(3) 3.25
Item 79, section 166-230 1.65
Item 79, subsection 166-230(1) 1.72
Item 79, subsection 166-230(2) 1.73
Item 79, paragraph 166-230(2)(d) 1.76
Item 79, subsection 166-230(3) 1.80
Item 79, subsection 166-230(4) 1.81
Item 79, subsection 166-235(7) 1.70, 1.75
Item 79, section 166-240 1.65, 1.82
Item 79, subsection 166-240(4) 1.87, 1.94
Item 79, subsection 166-240(5) 1.88
Item 79, section 166-245 1.65
Item 79, subsection 166-245(1) 1.90
Item 79, paragraph 166-245(1)(b) 1.97
Item 79, subsection 166-245(2) 1.91
Item 79, paragraph 166-245(2)(e) 1.92
Item 79, paragraphs 166-245(2)(e) and (3)(e) 1.104
Item 79, subsection 166-245(3) 1.18
Item 79, subparagraph 166-245(3)(a)(i) 1.98
Item 79, subparagraph 166-245(3)(a)(ii) 1.99
Item 79, paragraph 166-245(3)(b) 1.100
Item 79, paragraph 166-245(3)(c) 1.101
Item 79, paragraph 166-245(5)(b) 1.95
Item 79, subsection 166-245(6) 1.93
Item 79, section 166-255 1.65
Item 79, subsection 166-255(2) 1.108, 1.109
Item 79, subsection 166-255(3) 1.110
Item 79, section 166-260 1.65
Item 79, subsection 166-260(2) 1.114
Item 79, subsection 166-260(4) 1.115
Item 79, subsection 166-260(5) 1.111
Item 79, section 166-265 1.77, 1.85, 1.96
Item 79, section 166-270 1.130
Item 79, section 166-272 1.117
Item 79, subsection 166-272(2) 1.118
Item 79, subsections 166-272(3) to (6) 1.120
Item 79, subsections 166-272(8) and (11) 1.121
Item 79, subsection 166-272(9) 1.127
Item 79, section 166-275 1.134, 1.136
Item 79, subsection 166-280(1) 1.139
Item 79, subsection 166-280(2) 1.142
Items 79 and 151, paragraph 166-245(3)(d) and subsection 995-1(1) 1.103
Items 79 and 159, subsections 166-255(1) and 995-1(1) 1.107
Items 79 and 159, subsections 166-260(1) and 995-1(1) 1.113
Item 103, section 175-100 3.12
Item 133, paragraph 716-805(1)(a) 2.31
Item 133, paragraph 716-805(1)(b) 2.32
Item 133, subsection 716-805(2) 2.33
Item 133, subsection 716-805(3) 2.39
Item 133, paragraph 716-805(4)(a) 2.45
Item 133, paragraph 716-805(4)(b) 2.42
Item 133, paragraph 716-805(4)(c) 2.44, 2.46
Items 142, 146, 150, 153, 154, 155, 157, 158 and 166 1.166
Item 148, section 995-1 1.17
Item, 156, subsection 995-1(1) 3.30
Items 162 and 163 1.167
Item 168, section 995-1 1.14, 1.16
Item 169 3.57
Item 170 3.62
Subitem 170(1) 1.150
Subitem 170(2) 1.163
Subitem 170(3) 1.164
Subitem 170(4) 1.151
Subparagraph 170(4)(a)(ii) 1.152
Subparagraph 170(4)(b)(ii) 1.153
Item 171 3.63
Subitem 172(1) 2.47
Paragraph 172(2)(a) 2.50
Paragraph 172(2)(b) 2.53
Item 173 3.61
Item 174 3.60
Item 175 3.59
Item 176 3.13, 3.58
Schedule 2: Foreign residents' income with an underlying foreign source
Bill reference Paragraph number
Item 1, subsection 802-15(1) 5.34
Item 1, paragraph 802-15(1)(a) 5.15
Item 1, paragraph 802-15(1)(b) 5.15
Item 1, subsection 802-15(2) 5.15
Item 1, section 802-20 5.15
Item 1, paragraphs 802-20(1)(a) and (b) 5.77
Item 1, paragraph 802-20(1)(c) 5.78, 5.79
Item 1, subsection 802-20(2) 5.81, 5.84
Item 1, subsection 802-20(3) 5.85
Item 1, subsection 802-20(4) 5.82
Item 1, subsection 802-20(5) 5.86
Item 1, section 802-25 5.17, 5.102
Item 1, subsection 802-30(1) 5.23
Item 1, subsection 802-30(2) 5.22, 5.31, 5.42
Item 1, paragraph 802-30(3)(a) 5.39, 5.71
Item 1, paragraph 802-30(3)(b) 5.40
Item 1, paragraph 802-30(3)(c) 5.41
Item 1, paragraph 802-30(4)(a) 5.43
Item 1, paragraph 802-30(4)(b) 5.43
Item 1, paragraph 802-30(4)(c) 5.48
Item 1, subsection 802-30(5) 5.49, 5.52
Item 1, subsection 802-30(6) 5.53
Item 1, subsection 802-30(7) 5.30
Item 1, paragraph 802-35(1)(a) 5.56
Item 1, paragraph 802-35(1)(b) 5.57
Item 1, paragraph 802-35(1)(c) 5.58
Item 1, paragraph 802-35(2)(a) 5.59
Item 1, paragraph 802-35(2)(b) 5.60
Item 1, paragraph 802-35(2)(c) 5.61
Item 1, subsection 802-35(3) 5.62
Item 1, section 802-40 5.64, 5.66
Item 1, section 802-45 5.68
Item 1, note to section 802-45 5.70
Item 1, subsection 802-50(1) 5.72
Item 1, subsection 802-50(2) 5.73
Item 1, section 802-55 5.88
Item 1, subsection 802-60(1) 5.90
Item 1, subsections 802-60(1) and (2) 5.91
Item 1, subsection 802-60(2) 5.90
Item 1, note to subsection 802-60(2) 5.93
Item 1, subsection 802-60(3) 5.90
Item 1, subsection 802-60(4) 5.94
Items 2, 3 and 6, subsections 44(1) and 128B(1) of the ITAA 1936 5.120
Items 4, 5, 10 and 14, subsections 102AAW(1) and 121G(12) and subparagraph 159GZZZQ(4)(b)(i) of the ITAA 1936 and subparagraph 118-12(2)(a)(vi) 5.118
Items 7, 8, 9, 16 and 19 to 24, paragraph 128B(3)(gaa), section 128D and Subdivision B of Division 11A of Part III of the ITAA 1936, Subdivisions 717-J and 717-X and subsection 995-1(1) 5.117
Item 11, paragraph 202EE(1)(d) of the ITAA 1936 5.121
Item 12, section 11-55 5.122
Item 13, paragraphs 703-75(3)(c) and (d) 5.119
Item 15, section 715-875 5.103
Item 15, subsection 715-875(1) 5.105
Item 15, section 715-880 5.105
Item 17, subsection 995-1(1) 5.19
Item 18, subsection 995-1(1) 5.123
Item 25, subsection 288-80(1) of the Taxation Administration Act 1953 5.95
Item 25, paragraph 288-80(1)(c) of the Taxation Administration Act 1953 5.96
Item 25, subsection 288-80(2) of the Taxation Administration Act 1953 5.97
Item 25, subsection 288-80(3) of the Taxation Administration Act 1953 5.99
Item 25, definition of 'Australian membership interests' in subsection 288-80(3) of the Taxation Administration Act 1953 5.98
Item 25, subsection 288-80(4) of the Taxation Administration Act 1953 5.100
Item 25, definition of 'foreign membership interests' in subsection 288-80(4) of the Taxation Administration Act 1953 5.98
Item 26 5.106
Subitem 27(1) 5.108
Subitem 27(2) 5.109
Subitem 27(3) 5.110
Subitem 27(4) 5.111
Subitem 27(5) 5.112
Subitem 28(1) 5.113
Subitem 28(2) 5.114
Subitem 28(3) 5.115
Subitem 28(4) 5.116
Schedule 3: Denying deductions for illegal activity
Bill reference Paragraph number
Item 2, subsection 26-54(1) 6.8
Item 2, subsection 26-54(2) 6.13
Items 3 and 4 6.12
Schedule 4: Film copyright
Bill reference Paragraph number
Item 1, paragraph 124PA(4)(b) 7.17
Item 2 7.16
Item 3, subsection 124UA(2) 7.15
Item 4, paragraph 40-70(2)(b) 7.9
Items 5 and 6, subsection 40-95(7) 7.8
Item 7, subsection 40-100(4) 7.10
Item 8, subsection 40-105(1) 7.11
Item 9, subsection 40-105(4) 7.12
Item 11, subsection 40-110(5) 7.13
Item 10, subsection 40-110(1) 7.19
Schedule 5: Employee share schemes
Bill reference Paragraph number
Item 3, paragraph 26AAD(1)(a) 8.22
Item 3, paragraph 26AAD(1)(b) 8.22, 8.27
Item 3, paragraph 26AAD(1)(c) 8.22, 8.28, 8.29
Item 3, subsection 26AAD(2) 8.25, 8.26
Item 3, subsection 26AAD(3) 8.31
Item 3, subsection 26AAD(4) 8.32
Item 3, subsection 26AAD(5) 8.33, 8.34
Item 3, subsection 26AAD(6) 8.39
Item 3, paragraph 26AAD(7)(a) 8.40
Item 3, paragraph 26AAD(7)(b) 8.40
Item 3, paragraph 26AAD(7)(c) 8.40
Item 3, subsection 26AAD(8) 8.35, 8.36, 8.37, 8.38
Items 4 and 5, subsections 139CE(1) and (3A) 8.62
Item 6, subsection 139DD(2A) 8.59
Item 7, subsection 139DD(3) 8.60
Item 8, subsection 139DD(3B) 8.61
Item 9, subsection 139DR(2) 8.57
Item 10 8.55, 8.56
Item 13, subsection 115-30(1A) 8.66
Item 14, subsection 130-80(1) 8.67
Item 15, subsection 130-80(3) 8.42
Item 16, subsection 130-80(4) 8.68
Items 17 and 18, subsections 130-95(3) and 130-110(5) 8.44
Item 19 8.64, 8.65
Item 20 8.69
Schedule 6: Superannuation guarantee charge
Bill reference Paragraph number
Items 1 and 2, sections 12-5 and 26-85 9.12
Items 3, 6, 7 and 8, subsections 5(3) and 33(1), paragraph 35(1)(d) and subsection 46(2) 9.13
Item 4, subsection 6(1) 9.10
Item 5, subsections 23A(1) and (2) 9.7
Item 5, subsections 23A(3) to (5) 9.8
Item 9, section 62A 9.11
Item 10 9.15
Schedule 7: Superannuation on back payments
Bill reference Paragraph number
Item 1, subsection 82AAC(1) 10.11
Items 2 to 7 and 9 to 11, subsections 82AAC(2) and (2A), paragraphs 82AAC(2A)(a) and (b), paragraph 82AAD(1)(a), section 82AADA, subsections 82AAF(2) and 82AAQ(1), paragraph 82AAQ(2)(a) 10.14
Item 8, subsection 82AAF(1) 10.12
Items 12 and 13, subsections 82AAR(1), (2) and (4) 10.13
Items 14 to 16, paragraphs 26-80(2)(b), 26-80(4)(b), 26-80(5)(b) and 26-80(5)(c) 10.15
Item 17, section 15B 10.8
Item 18, subsection 63A(1A) 10.10
Item 19 10.17
Item 20 10.16


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