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Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Bill 2013

Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Act 2013

Explanatory Memorandum

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

Index

Schedule 1: General anti-avoidance rules

Bill reference Paragraph number
Items 1 and 6, paragraphs 45B(8(k), 177EA(17)(j), and 177EB(10)(f) 1.130
Items 2 to 5, 8 and 9, paragraphs 177C(1)(bb), (bc) and (g), section 177CA, subsection 177F(2A) of the ITAA 1936, and paragraph 18-40(1)(a) in Schedule 1 to the TAA 1953) 1.129
Item 5, subsection 177CB 1.72
Item 5, subsection 177CB(1) 1.73
Item 5, subsections 177CB(2) 1.77
Item 5, subsections 177CB(2) and (3) 1.74
Item 5, paragraph 177CB(3) and (4) 1.85
Item 5, subparagraph 177CB(4)(a) 1.98
Item 5, subparagraph 177CB(4)(a)(i) 1.103, 1.107
Item 5, subsections 177D(1) and (2) 1.122
Item 5, subsections 177D(3) and (4) 1.123
Item 7, subsection 177F(1) 1.124
Item 10 1.126

Schedule 2: Modernisation of transfer pricing rules

Bill reference Paragraph number
Item 2, subsection 815-105(1) 3.1
Item 2, subsection 815-105(2) 3.3
Item 2, subsection 815-110(1) 3.4
Item 2, subsection 815-110(2) 3.7
Item 2, subsection 815-115(1) 3.11
Item 2, subsection 815-115(2) 3.12
Item 2, subsection 815-120(1) 3.38
Item 2, paragraph 815-120(1)(a) 3.46
Item 2, paragraph 815-120(1)(b) 3.59
Item 2, paragraph 815-120(1)(c) 3.51
Item 2, subsection 815-120(2) 3.48
Item 2, section 815-120(3) 3.61
Item 2, table item 1 in subsection 815-120(3) 3.63
Item 2, table item 2 in subsection 815-120(3) 3.64
Item 2, paragraph 815-120(3)(a) 3.62
Item 2, paragraph 815-120(3)(b) 3.68
Item 2, subsections 815-120(4) and (6) 3.65
Item 2, subsection 815-120(5) 3.57
Item 2, subsection 815-125(1) 3.76
Item 2, subsection 815-125(2) 3.107
Item 2, subsection 815-125(3) 3.126
Item 2, paragraph 815 125(4)(a) 3.122
Item 2, paragraph 815 125(4)(b) 3.123
Item 2, subsection 815-130(1) 3.82
Item 2, subsection 815-130(2) 3.97
Item 2, subsection 815-130(3) 3.99
Item 2, subsection 815-130(4) 3.104
Item 2, subsections 815 130(5) 3.93
Item 2, subsection 815-135(1) and paragraph 815-135(2)(a) 3.23
Item 2, subsection 815-135(2) 3.26
Item 2, paragraph 815 135(2)(b) 3.31
Item 2, subsection 815-135(3) 3.33
Item 2, subsection 815-135(4) 3.35
Item 2, subsection 815-140(1) 3.143
Item 2, subsection 815-140(2) 3.144
Item 2, subsection 815-145(1) 3.151
Item 2, subsection 815-145(2) 3.154
Item 2, subsection 815-145(3) 3.155
Item 2, subsections 815-145(4) and (5) 3.156
Item 2, subsection 815-145(6) 3.157
Item 2, subsections 815-145(7) and (8) 3.158
Item 2, subsection 815-150(2) 3.160, 3.162, 7.9
Item 2, section 815-205 4.1
Item 2, subsection 815-210(1) 4.3
Item 2, subsection 815-210(2) 4.6
Item 2, subsection 815-210(3) 4.9
Item 2, subsection 815-215(1) 4.11
Item 2, subsection 815-215(2) 4.12
Item 2, subsection 815-220(1) 4.30, 4.34
Item 2, paragraph 815-220(1)(a) 4.31
Item 2, subsection 815-220(2) 4.38
Item 2, subsections 815-225(1) and (2) 4.41
Item 2, subsection 815-225(3) 4.46
Item 2, subsection 815-230(1) 4.47
Item 2, subsection 815-230(2) 4.49
Item 2, subsection 815-235(1) 4.17
Item 2, paragraph 815-235(1)(b) and subsection 815-235(2) 4.18
Item 2, paragraph 815-235(2)(b) 4.25
Item 2, subsection 815-235(3) and (4) 4.26
Item 2, subsection 815-235(5) 4.28
Item 2, section 815-240 4.52
Item 2, section 815-305 and subsection 815-310(1) 5.2
Item 2, subsection 815-310(2) 5.3
Item 3, subsection 284-145(2B) in Schedule 1 to the TAA 1953 6.7
Item 3, subparagraphs 284-145(2B)(a)(i) and (ii) in Schedule 1 to the TAA 1953 6.8
Item 3, subsections 284-160(1) and (2) in Schedule 1 to the TAA 1953 6.15
Item 4, subsection 284-150(4) in Schedule 1 to the TAA 1953 6.10
Item 4, subsection 284-150(5) in Schedule 1 to the TAA 1953 6.14
Item 5, table item 1 in subsection 284-160(3) in Schedule 1 to the TAA 1953 6.12
Item 5, table item 2 in subsection 284-160(3) in Schedule 1 to the TAA 1953 6.11
Item 6, subsection 284-165(1) in Schedule 1 to the TAA 1953 6.16
Item 6, subsections 284-165(2) and (3) in Schedule 1 to the TAA 1953 6.17
Item 6, subsection 284-165(4) in Schedule 1 to the TAA 1953 6.18
Item 7, section 284-250 in Schedule 1 to the TAA 1953 6.23
Item 7, paragraphs 284-255(1)(a) and (b) in Schedule 1 to the TAA 1953 6.24
Item 7, paragraphs 284-255(1)(c) and (d) in Schedule 1 to the TAA 1953 6.28
Item 7, paragraphs 284-255(2)(a) and (b) in Schedule 1 to the TAA 1953 6.29
Item 7, paragraph 284-255(2)(c) in Schedule 1 to the TAA 1953 6.31
Item 7, paragraph 284-255(2)(d) in Schedule 1 to the TAA 1953 6.32
Item 7, paragraph 284 255(2)(e) in Schedule 1 to the TAA 1953 6.33
Items 8, 10, 30, 31, 33, 35, subsection 6(1) definition of 'international tax sharing treaty', note in subsection 160ZZW(2), paragraph 802-35(1)(c), paragraph 802-35(2)(c), subsection 815-40(2), subparagraph 842-250(1)(c)(ii) 7.12
Item 9, section 102AAZA in Schedule 1 to the TAA 1953 7.5
Items 11, 13, 17, 24 to 29, subsection 160ZZW(5), table item 24 in subsection 170(10), subsection 389(a), notes 1 and 2 in section 70-20, notes 1 and 2 in section 355-400, note in section 420-20, note in section 420-30 7.13
Items 12 to 16, subsection 170(9B), table item 4 in subsection 170(10), subsection 170(9C), definition of 'double taxation agreement' in subsection 170(14), definition of 'prescribed provision' in subsection 170(14), definition of 'relevant provision' in subsection 170(14) 7.8
Item 18, section 400 7.1
Item 19, subsection 434(3) 7.4
Items 20 to 23, table item headed 'avoidance of tax' in section 10-5, table item headed 'trading stock' in section 10-5, table item headed 'tax avoidance schemes' in section 12-5, table item headed 'transfer pricing' in section 12-5 7.15
Items 32 and 34, note in section 815-10, note in section 820-30 7.14
Item 35, subparagraph 842-250(1)(c)(ii) 7.17
Items 36 to 43, subsection 995-1(1) 7.16
Item 44, note at end of subsection 284-15(1) in Schedule 1 to the TAA 1953 7.10
Items 45 to 48 6.20
Items 50 and 54 7.19
Items 51 to 53 7.21
Items 55 to 57, subparagraph 815-35(1)(b)(ii), subparagraph 815-35(2)(b)(ii), subsection 815-35(10) 7.18
Item 58, subsection 284-160(b) in Schedule 1 to the TAA 1953 7.11
Item 59 7.20


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