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Tax Laws Amendment (2010 Measures No. 4) Bill 2010

Tax Laws Amendment (2010 Measures No. 4) Act 2010

Explanatory Memorandum

(Circulated by the authority of the Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP)

Index

Schedule 2: CGT treatment of water entitlements and termination fees

Bill reference Paragraph number
Item 1 2.99
Item 2 2.50, 2.100
Items 3 to 5 2.101
Item 6, subsection 124-1105(1) 2.29
Item 6, paragraphs 124-1105(1)(a) and (b) 2.34
Item 6, paragraph 124-1105(1)(c) 2.37
Item 6, paragraph 124-1105(1)(d) 2.36
Item 6, subsection 124-1105(2) 2.29
Item 6, paragraphs 124-1105(2)(a), (b) and (d) 2.39
Item 6, paragraph 124-1105(2)(c) 2.40
Item 6, subsection 124-1105(3) 2.33
Item 6, subsection 124-1105(4) 2.22, 2.24, 2.28
Item 6, section 124-1110 2.42
Item 6, subsection-124-1115(1) 2.43
Item 6, subsections 124-1115(2) and (4) and paragraph 124-1115(5)(a) 2.44
Item 6, subsections 124-1115(3) and (4) and paragraph 124-1115(5)(b) 2.45
Item 6, paragraphs 124-1120(1)(a) and (b) and (2)(a) to (c) 2.51
Item 6, paragraphs 124-1120(1)(c) and (2)(d) 2.54
Item 6, subsections 124-1120(3) and (4) 2.55
Item 6, subsection 124-1120(4) 2.52
Item 6, section 124-1125 2.46
Item 6, subsection 124-1130(1) 2.56
Item 6, subsection 124-1130(2) 2.57
Item 6, paragraphs 124-1130(3)(a) and (b) 2.58
Item 6, paragraph 124-1130(3)(c) 2.59
Item 6, subsection 124-1130(4) 2.60
Item 6, section 124-1135 2.64
Item 6, section 124-1140 2.69
Item 6, subsections 124-1145(1) and (2) 2.71
Item 6, subsection 124-1145(3) 2.73
Item 6, subsection 124-1145(4) 2.72
Item 6, subsection 124-1150(1) 2.74
Item 6, subsection 124-1150(2) 2.75
Item 6, subsection 124-1150(3) 2.76
Item 6, subsection 124-1150(4) 2.77
Item 6, section 124-1155 2.79
Item 6, section 124-1160 2.80
Item 6, subsection 124-1165(1) 2.81
Item 6, subsections 124-1165(2) and (4) 2.82
Item 6, subsections 124-1165(3) and (4) 2.83
Item 7 2.102
Item 200 2.86
Item 300 2.91
Subitems 305(1) and (2) 2.92
Subitem 305(3) 2.93
Item 310 2.95
Subitem 315(2) 2.97
Subitem 315(1) 2.96

Schedule 3: Taxation of financial arrangements

Bill reference Paragraph number
Items 1 and 2, paragraphs 102AAW(2)(a) and (b) of the ITAA 1936 3.79
Part 2, item 135 3.94
Items 3 and 4, section 118-27(heading) and subsection 118-27(4) 3.64
Items 5 and 106, subparagraphs 230-5(2)(a)(ii) and 230-455(1)(a)(ii) 3.52
Item 6, subsection 230-15(4A) 3.35
Item 6, paragraph 230-15(4A)(a) 3.35
Item 6, paragraph 230-15(4A)(b) 3.35
Item 6, paragraph 230-15(4A)(c) 3.35
Item 7, subsection 230-45(4) 3.22, 3.26
Item 7, subsection 230-45(5) 3.22
Item 7, paragraph 230-45(5)(a) 3.31
Item 7, paragraph 230-45(5)(b) 3.32
Items 8 to 10, 13 and 105, paragraph 230-70(1)(b), 230-75(1)(b) and 230-110(1)(c), subparagraph 230-130(5)(b)(ii), and subsection 230-435(5) 3.87
Item 11, subsection 230-115(1) 3.36
Item 12, subsection 230-115(8) 3.41
Items 12, 67 and 118, subsection 230-115(8), subparagraph 230-335(1)(c)(ii) and subsection 230-530(1) 3.88
Item 14, subsection 230-145(5) 3.39
Items 15, 22, 26, 27, 34, 41, 56, 57, 58, 73, 74, 75, 77, 80, 83, 92, 107, 113, 119 and 122, subparagraphs 230-150(1)(a)(i) and 230-185(2)(e)(i), subsection 230-190(8), subparagraphs 230-210(2)(a)(i), 230-220(1)(c)(i) and 230-255(2)(a)(i), subsection 230-310(4), paragraph 230-310(5)(a), subparagraph 230-315(2)(a)(i), paragraphs 230-335(10)(c) to (e), and 230-355(1)(b), subparagraph 230-365(c)(i), 230-395(2)(a)(i) and 230-410(1)(d)(i), paragraphs 230-455(5)(b) and 230-500(a), subparagraphs 230-530(3)(d)(i) and 230-530(4)(e)(i) 3.71
Items 16, 23, 28, 35, 42, 59, 84, 93, 120 and 123, subparagraphs 230-150(1)(a)(ii), 230-185(2)(e)(ii), 230-210(2)(a)(ii), 230-220(1)(c)(ii), 230-255(2)(a)(ii), 230-315(2)(a)(ii),230-395(2)(a)(ii), 230-410(1)(d)(ii), 230-530(3)(d)(ii) and 230-530(4)(e)(ii) 3.71
Items 17, 24, 29, 36, 43, 60, 85, 94, 121 and 124, subparagraphs 230-150(1)(a)(ii), 230-185(2)(e)(ii), 230-210(2)(a)(ii), 230-220(1)(c)(ii), 230-255(2)(a)(ii), 230-315(2)(a)(ii), 230-395(2)(a)(ii), 230-410(1)(d)(ii), 230-530(3)(d)(ii) and 230-530(4)(e)(ii) 3.71
Items 18, 19, 30, 31, 44, 45, 61, 62, 86, 87 and 114, subparagraphs 230-150(1)(b)(i) and (ii), 230-210(2)(b)(i) and (ii), 230-255(2)(b)(i) and (ii), 230-315(2)(b)(i) and (ii), 230-395(2)(b)(i) and (ii) and paragraph 230-500(b) 3.76
Items 20, 32, 46, 63 and 88, subparagraphs 230-150(1)(b)(ii), 230-210(2)(b)(ii), 230-255(2)(b)(ii), 230-315(2)(b)(ii) and 230-395(2)(b)(ii) 3.76
Item 21, subsection 230-155(5) 3.40
Items 25, 37 to 40, 66, 69 to 72, 78, 79, 81, 90, 91, 96, 99 to 104 and 112, paragraphs 230-185(2)(e), 230-230(1)(a) to (c), subsection 230-230(3), paragraph 230-335(1)(b), subparagraph 230-335(3)(c)(i), paragraph 230-335(5)(b), subsections 230-335(8) and (9), subparagraph 230-355(5)(a)(ii), paragraphs 230-365(a) and (c) and 230-405(2)(a) and (b), subsection 230-410(2), paragraphs 230-420(1)(a) to (c), subsection 230-420(3), paragraphs 230-430(4)(a) and (c) and 230-495(1)(d) 3.78
Items 33, 47, 64 and 89, subsections 230-210(2) (note), 230-255(2)(note), 230-315(2)(note) and 230-395(2)(note 1) 3.78
Items 48, 49 and 82, subsections 230-275(1) to (3) and 230-380(1) 3.90
Items 50 and 52, subsections 230-300(5) and (11) 3.46
Item 51, subsection 230-300(6) 3.50
Items 53 and 55, section 230-305 3.47
Item 54, section 230-305 (after item 2 in the table) 3.45
Item 65, paragraph 230-335(1)(a) 3.42
Item 68, subparagraph 230-335(1)(c)(ii) 3.43
Item 76, section 230-340(heading) 3.92
Item 95, subparagraph 230-410(1)(e)(ii) 3.92
Item 97, subsection 230-410(5) 3.92
Item 98, subsection 230-410(6) 3.92
Item 108, subsection 230-460(4) 3.61
Item 109, paragraph 230-460(8)(a) 3.63
Items 110 and 111, section 230-495 (heading), paragraph 230-495(1)(b) 3.78
Item 115, paragraph 230-520(1)(b) 3.89
Item 116, paragraph 230-520(1)(d) 3.93
Item 117, subsection 230-520(2) 3.93
Item 125, paragraph 775-295(1)(c) 3.92
Item 126, paragraph 775-305(1)(b) 3.92
Item 127, subsection 775-305(2) 3.51
Item 128, subsection 775-305(3) 3.51
Item 129, subsection 995-1(1) 3.75
Item 130, subsection 995-1(1) 3.90
Item 131, subsection 995-1(1) 3.91
Item 132, subsection 2(1) (item 11 in the table) of the Tax Laws Amendment (2010 Measures No. 1 ) Act 2010 3.70
Item 133, subitem 104(7) of Schedule 1 to the TOFA Act 2009 3.83
Item 134, subitem 104(7A) of Schedule 1 to the TOFA Act 2009 3.84
Items 136 and 137, sections 11-10 and 11-55 4.36
Item 138, paragraph 775-15(2)(b) (item 1 in the table, column 2) 4.5
Items 139, 140 and 143, sections 775-20, 775-25 and paragraph 775-35(2)(a) 4.37
Item 141, section 775-27 4.10
Item 142, subsection 775-35(1) 4.17
Item 144, subparagraph 775-50(1)(b)(iii) 4.21
Item 145, subparagraph 775-55(1)(b)(xi) 4.24
Item 146, paragraph 775-55(4)(a) 4.24
Item 147, subparagraph 775-60(1)(b)(iii) 4.28
Item 148, section 775-168 4.31

Schedule 4: Scrip for scrip alignment

Bill reference Paragraph number
Item 1, paragraph 124-780(1)(b) 5.11
Item 2, paragraph 124-780(2A)(a) 5.12
Item 2, paragraph 124-780(2A)(b) 5.13
Item 3, paragraph 124-781(1)(c) 5.19
Item 4, paragraph 124-781(2A)(a) 5.20
Item 4, paragraph 124-781(2A)(b) 5.21

Schedule 5: Medical expenses tax offset claim threshold

Bill reference Paragraph number
Bill reference Paragraph number
Item 1 6.14
Items 2 and 3 6.11
Item 4 6.10

Schedule 6: Deductible gift recipients

Bill reference Paragraph number
Item 1, item 2.2.32 in the table in subsection 30-25(2) 7.12
Item 2, item 2.2.38 in the table in subsection 30-25(2) 7.6
Item 3, item 9.2.17 in the table in subsection 30-80(2) 7.11
Item 4, item 13.2.18 in the table in section 30-105 7.9
Items 5 to 7, items 31B, 70AA and 81A in the table in section 30-315 7.14

Schedule 7: Extending gift deductibility to volunteer fire brigades

Bill reference Paragraph number
Item 1, item 12A.1.1 in the table in section 30-102 of the ITAA 1997 8.14, 8.16
Item 1, item 12A.1.2 in the table in section 30-102 of the ITAA 1997 8.14, 8.27, 8.39
Item 1, items 12A.1.2 and 12A.1.3 in the table in section 30-102 of the ITAA 1997 8.23, 8.43
Item 1, item 12A.1.3 in the table in section 30-102 of the ITAA 1997 8.28, 8.30
Item 2, subsection 30-315(2) of the ITAA 1997 8.72
Item 3, section 30-102 of the Income Tax (Transitional Provisions) Act 1997 8.69
Item 4 8.71
Item 12A.1.1 in the table in section 30-102 of the ITAA 1997 8.20


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