House of Representatives
Tax Laws Amendment (2011 Measures No. 9) Bill 2011
Explanatory Memorandum
(Circulated by the authority of the Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP)Index
Schedule 1: Form for portability of superannuation
| Bill reference | Paragraph number |
| Item 1, subparagraph 3(1)(a)(ii) of the RSA Act | 1.19 |
| Item 2, subparagraph 3(1)(a)(iii) of the RSA Act | 1.24 |
| Item 3, paragraph 3(1)(e) of the RSA Act | 1.20 |
| Item 4, subsection 3(1)(note) of the RSA Act | 1.23 |
| Item 5, new paragraph 16(c) of the RSA Act | 1.25 |
| Items 6, 7, 15 and 16 (new headings) | 1.18 |
| Item 8, section 39A of the RSA Act | 1.15 |
| Item 9, subsection 138A(1) of the RSA Act | 1.26 |
| Item 9, subsection 138A(2) of the RSA Act | 1.27 |
| Item 9, subsection 138A(3) of the RSA Act | 1.29 |
| Item 9, subsection 138A(4) of the RSA Act | 1.31 |
| Item 10, subsection 144(2A) of the RSA Act | 1.26 |
| Item 11, subparagraph 6(1)(a)(xii) of the SIS Act | 1.34 |
| Item 12, paragraph 6(1)(b) of the SIS Act | 1.24 |
| Item 13, paragraph 6(1)(g) of the SIS Act | 1.20 |
| item 14, subsection 6(1)(note) of the SIS Act | 1.23 |
| Item 17, section 34A of the SIS Act | 1.15 |
| Item 18, subsection 299NA(1) of the SIS Act | 1.26 |
| item 18, subsection 299NA(2) of the SIS Act | 1.27 |
| Item 18, subsection 299NA(3) of the SIS Act | 1.29 |
| item 18, subsection 299NA(4) of the SIS Act | 1.31 |
| Item 19, subsection 299U(2A) of the SIS Act | 1.26 |
Schedule 2: Capital gains tax and certain business restructures
| Bill reference | Paragraph number |
| Item 1, subparagraph 124-20(3)(b)(ii) | 2.22 |
| Items 1, 3, 8, 9 and 10, sections 124-20, 125-235 and 126-265 | 2.15 |
| Items 1 and 9, subparagraph 124-20(3)(b)(i) and paragraph 125-235(3)(b) | 2.23 |
| Items 1, 9 and 10, sections 124-20, 125-235 and 126-265 | 2.19, 2.21 |
| Items 1, 9 and 10, subsections 124-20(1), (4) and (5), 125-235(1) and 126-265(1) | 2.25 |
| Items 1, 9 and 10, subparagraphs 124-20(1)(c)(i), 125-235(1)(c)(i) and 126-265(1)(c)(i) | 2.26 |
| Items 1, 9 and 10, subparagraphs 124-20(1)(c)(ii), 125-235(1)(c)(ii) and 126-265(1)(c)(ii) | 2.27 |
| Items 1, 9 and 10, subparagraphs 124-20(1)(e)(ii), 125-235(1)(e)(ii) and 126-265(1)(e)(ii) | 2.28 |
| Items 2 and 4 to 7, item 15, paragraphs 124-360(1)(c)(note), 124-370(1)(e)(note), 124-445(c)(note) and 124-455(1)(e)(note), subsection 124-860(6)(note), paragraph 124-1045(1)(d)(note) and subsections 124-520(1)(note) and 124-525(1)(note) | 2.16 |
| Item 11 | 2.31 |
| Item 12, subsection 125-65(2A) | 3.12 |
| Item 13, paragraph 125-70(1)(g) | 3.20 |
| Item 14 | 3.19 |
| Item 15, section 124-510 | 4.15 |
| Item 15, section 124-515 | 4.16 |
| Item 15, sections 124-520, 124-525, 124-530 and 124-535 | 4.17 |
| Item 15, paragraphs 124-520(1)(a) and (b) | 4.18 |
| Item 15, paragraph 124-520(1)(c) | 4.19, 4.22 |
| Item 15, subparagraph 124-520(1)(c)(i) | 4.20 |
| Item 15, subparagraph 124-520(1)(c)(ii) | 4.21 |
| Item 15, subsections 124-520(2) and (3) | 4.32 |
| Item 15, paragraph 124-520(2)(a) | 4.26 |
| Item 15, paragraph 124-520(2)(b) | 4.27 |
| Item 15, subsection 124-520(3) | 4.31 |
| Item 15, subsection 124-520(4) | 4.33 |
| Item 15, section 124-525 | 4.34 |
| Item 15, paragraphs 124-525(1)(a) and (b) | 4.35 |
| Item 15, paragraph 124-525(1)(c) | 4.36, 4.37 |
| Item 15, subparagraphs 124-525(1)(c)(i) and (ii) | 4.39 |
| Item 15, paragraph 124-525(1)(d) | 4.40 |
| Item 15, paragraph 124-525(1)(e) | 4.41 |
| Item 15, paragraph 124-525(1)(f) | 4.43, 4.44 |
| Item 15, subsection 124-525(2) | 4.45 |
| Item 15, subsection 124-525(3) | 4.46 |
| Item 15, subsection 124-530(1) | 4.50 |
| Item 15, subsection 124-530(2) | 4.51 |
| Item 15, subsection 124-530(3) | 4.52 |
| Item 15, subsection 124-530(4) | 4.53 |
| Item 15, subsections 124-530(5) and 124-535(3) | 4.48 |
| Item 15, subsection 124-535(1) | 4.54 |
| Item 15, subsection 124-535(2) | 4.55 |
| Items 17 and 18 | 4.82 |
| Item 19 | 4.83 |
| Items 20 to 23, sections 112-53AB, 112-97 (at the end of the table), 112-115 (the cell at item 11 in the table, the column headed 'For the rules about this roll-over' and 112-150 (at the end of the table) | 4.84 |
| Item 24, section 124-510 of the Income Tax (Transitional Provisions) Act 1997 | 4.79 |
| Part 3-80, item 16, sections 620-5 and 620-10 | 4.56 |
| Part 3-80, item 25, section 620-10 of the Income Tax (Transitional Provisions) Act 1997 | 4.80 |
| Part 3-80, item 16, section 620-15 | 4.57 |
| Part 3-80, item 16, paragraph 620-20(1)(a) and subsection 620-20(2) | 4.58 |
| Part 3-80, item 16, paragraph 620-20(1)(b) and subsection 620-20(2) | 4.59 |
| Part 3-80, item 16, subsections 620-25(1) and (2) | 4.60 |
| Part 3-80, item 16, subsection 620-25(3) | 4.61 |
| Part 3-80, item 16, subsection 620-25(4) | 4.62 |
| Part 3-80, item 16, subsections 620-30(1) and (2) | 4.65 |
| Part 3-80, item 16, subsection 620-30(2) and (note) | 4.67 |
| Part 3-80, item 16, subsections 620-30(2) and (3) | 4.66 |
| Part 3-80, item 16, subsections 620-40(1) and (2) | 4.69 |
| Part 3-80, item 16, subsection 620-40(2) | 4.70 |
| Part 3-80, item 16, subsection 620-40(3) | 4.71 |
| Part 3-80, item 16, subsection 620-50(1) | 4.75 |
| Part 3-80, item 16, subsection 620-50(2) | 4.76 |
| Part 3-80, item 16, subsection 620-50(3) | 4.77 |
| Part 3-80, item 16, subsections 620-50(4) and (5) | 4.78 |
Schedule 3: GST financial supply provisions
| Bill reference | Paragraph number |
| Item 1, paragraphs 189-5(1)(a) and (2)(a) | 5.22 |
| Item 2, paragraphs 189-10(1)(a) and (2)(a) | 5.22 |
| Item 3 | 5.26 |
| Item 4, paragraph 11-15(5)(a) | 5.28 |
| Item 5, definition of 'deposit account' in section 195-1 | 5.29, 5.30 |
| Item 6 | 5.31 |
| Items 7 and 8, sections 29-39 and 29-69 | 5.41 |
| Item 9, section 156-23 | 5.37 |
| Item 10, Division 158 | 5.32 |
| Item 10, paragraph 158-5(2)(b) | 5.34 |
| Item 11 | 5.42 |
Schedule 4: New residential premises
| Bill reference | Paragraph number |
| Item 1, subsection 40-75(1) | 6.43 |
| Item 2, subsection 40-75(1) | 6.22 |
| Item 3, subsection 40-75(2) | 6.44 |
| Item 4, paragraph 40-75(2)(a) | 6.45 |
| Item 5, subsection 40-75(2AA) | 6.23 |
| Item 6, subsection 40-75(2A) | 6.46 |
| Item 7, subsection 40-75(2A) | 6.47 |
| Item 8, subsection 40-75(2B) | 6.25 |
| Item 8, subsection 40-75(2B)(note 3) and subsection 40-75 (2C)(note) | 6.48 |
| Item 8, subparagraph 40-75(2B)(c)(ii) | 6.29 |
| Item 8, subsection 40-75(2C) | 6.30 |
| Item 9, subsection 40-75(3) | 6.49 |
| Item 10, definition of 'property subdivision plan' in section 195-1 | 6.23 |
| Item 12, paragraph 12(2)(a) | 6.36 |
| Item 12, paragraph 12(2)(b) | 6.37 |
| Item 12, paragraph 12(2)(c) | 6.38 |
| Item 12, paragraph 12(2)(d) | 6.39 |
| Item 13 | 6.42 |
| Subitems 11(1) and (2) | 6.33 |
| Subitem 11(3) | 6.34 |
| Subitem 12(1) | 6.35 |
| Subitem 12(3) | 6.40, 6.41 |
Schedule 5: Deductible gift recipients
| Bill reference | Paragraph number |
| Item 1, item 8.2.12 in the table in section 30-70(2) | 7.9 |
| Item 2, item 9.2.24 in the table in subsection 30-80(2) | 7.6 |
| Items 3 and 4, items 97AAA and 86AA in the table in section 30-315 | 7.10 |
Schedule 6: Miscellaneous amendments
| Bill reference | Paragraph number |
| Items 1 and 2 | Table 8.2 |
| Items 3 to 6 | Table 8.3 |
| Items 7 to 9 | Table 8.4 |
| Item 10 | Table 8.5 |
| Items 11 to 20 | Table 8.6 |
| Item 21 | Table 8.7 |
| Item 22 | Table 8.8 |
| Item 23 | Table 8.9 |
| Item 24 | Table 8.10 |
| Items 25 and 26 | Table 8.11 |
| Items 27 and 28 | Table 8.12 |
| Item 29 | Table 8.12 |
| Items 30 and 31 | Table 8.13 |
| Item 32 | Table 8.14 |
| Items 33 and 34 | Table 8.15 |
| Items 35 to 59 | Table 8.16 |
| Items 60 to 67 | Table 8.17 |
| Items 68 to 93 | Table 8.18 |
| Items 94 to 96 | Table 8.19 |
| Items 97 to 105 | Table 8.20 |
| Items 106 to 109 | Table 8.21 |
| Items 110 and 111 and 113 to 115, subsection 152-70(1) (paragraph (a) in the cell in item 3 in the table, column headed 'Is:'), subsection 152-70(1) (paragraph (b) in the cell in item 3 in the table, column headed 'Is:'), paragraph 152-105(c)(note), paragraph 152-110(1)(c)(note) and section 152-120 | 8.19 |
| Item 112, subsections 152-70(4) and (6) | 8.14 |
| Item 112, subsection 152-70(5) | 8.15 |
| Item 112, paragraph 152-70(6)(a) | 8.16 |
| Item 112, paragraph 152-70(6)(b) | 8.16 |
| Items 117 to 131 | Table 8.22 |
| Items 132 to 142 | Table 8.23 |
| Item 143 | Table 8.24 |
| Items 144 and 145 | Table 8.25 |
| Items 146 to 148 | Table 8.25 |
| Items 149 to 152 | Table 8.26 |
| Items 153 to 156 | Table 8.27 |
| Items 157 and 158 | Table 8.28 |
| Item 159 | Table 8.29 |
| Items 160 and 161 | Table 8.30 |
| Items 162 and 163 | Table 8.31 |
| Items 164 to 176 | Table 8.32 |
| Items 177 and 178 | Table 8.33 |
| Items 179 to 182 | Table 8.34 |
| Item 183 | Table 8.35 |
| Item 184 | Table 8.36 |
| Item 185 | Table 8.37 |
| Items 186 and 187 | Table 8.38 |
| Items 188 and 189 | Table 8.39 |
| Item 190 | Table 8.40 |
| Items 191 and 192 | Table 8.41 |
| Items 193 to 199 | Table 8.42 |
| Items 200 to 203 | Table 8.43 |
| Items 204 to 211 | Table 8.43 |
| Items 212 and 213 | Table 8.43 |
| Items 214 to 216 | Table 8.44 |
| Item 217 | Table 8.45 |
| Item 218 | Table 8.46 |
| Items 219 to 248 | Table 8.47 |
| Items 249 to 251 | Table 8.48 |
| Items 252 and 253 | Table 8.49 |
| Items 254 and 255 | Table 8.50 |
| Subitem 4(1) and item 188 | Table 8.19 |
| Subitem 4(2) and item 188 | Table 8.21 |
| Subitem 4(3), item 188 | 8.21 |
| Subitem 116(1) | 8.20 |