House of Representatives
Tax and Superannuation Laws Amendment (2014 Measures No. 4) Bill 2014
Explanatory Memorandum
(Circulated by the authority of the Treasurer, the Hon J. B. Hockey MP)Index
Schedule 1: Thin capitalisation
| Bill reference | Paragraph number |
| Part 1, items 1, 3 and 5, method statements in sections 820-95, 820-195, and 820-205 | 1.25 |
| Part 1, items 2, 4 and 6, method statements in subsections 820-100(2), 820-200(2), 820-210(2) | 1.26 |
| Parts 2 and 6, items 9 and 19 respectively, paragraphs 820-90(2)(c) and 820-190(1)(c) | 1.43 |
| Part 2, item 9, paragraph 820-90(2)(c) | 1.37 |
| Part 2, item 9, subsection 820-90(3) | 1.49 |
| Part 2, items 11 and 12, method statements in section 820-110 | 1.34 |
| Part 2, item 13, section 820-111 | 1.62, 1.64 |
| Part 3, item 14, method statement in subsection 820-320(2) | 1.91 |
| Part 4, items 15 to 17, method statement in subsections 820-310(1) and 820-615(3), and section 820-405 | 1.30 |
| Part 5, item 18, section 820-35 | 1.94 |
| Part 6 | 1.37 |
| Part 6, item 19, section 820-190 | 1.41 |
| Part 6, item 19, section 820-190, paragraph (a) of the definition of average Australian assets | 1.49 |
| Part 6, item 19, paragraph 820-190(2)(c), paragraph (b) of the definition of average Australian assets | 1.49 |
| Part 6, item 20, section 820-216 | 1.59 |
| Part 6, item 20, sections 820-216 to 820-219 | 1.42 |
| Part 6, item 20, section 820-217 | 1.60 |
| Part 6, item 20, section 820-218 | 1.57 |
| Part 6, item 20, section 820-219 | 1.58 |
| Part 6, item 21, section 820-933 | 1.69 |
| Part 6, item 21, subsection 820-933(1) | 1.80 |
| Part 6, item 21, paragraph 820-935(1)(b) | 1.76 |
| Part 6, item 21, paragraph 820-935(2)(c) | 1.78 |
| Part 6, item 21, paragraph 820-935(2)(d) | 1.87, 1.88 |
| Part 6, item 21, paragraph 820-935(2)(e) | 1.82 |
| Part 6, item 21, subsection 820-935(3) | 1.72 |
| Part 7, items 23, 34, 43, 46, 48 and 51 | 1.98 |
| Part 7, items 24 to 25, 27, 30, 33, 35 to 36, 38 to 40, 42, 44 to 45 and 47 | 1.96 |
| Part 7, items 26, 37, 41, 49 and 50 | 1.97 |
| Part 8, item 56 | 1.99 |
Schedule 2: Foreign dividends
| Bill reference | Paragraph number |
| Part 1, item 4, Subdivision 768-A | 2.9 |
| Part 1, item 4, section 768-5 | 2.15, 2.18 |
| Part 1, item 4, paragraph 768-5(1)(a) | 2.13 |
| Part 1, item 4, paragraph 768-5(1)(b) | 2.10 |
| Part 1, item 4, section 768-10 | 2.16 |
| Part 1, item 4, section 768-15 | 2.11, 2.12 |
| Part 1, item 4, subsection 768-5(2) | 2.21, 2.24 |
| Part 1, item 4, paragraph 768-5(2)(c) | 2.25 |
| Part 1, item 5, definition of 'foreign equity distribution' in subsection 995-1(1) | 2.14 |
| Part 2, item 6, section 404 of the ITAA 1936 | 2.27, 2.34 |
| Part 3, items 7 to 9 and 14 to 22 | 2.36 |
| Part 3, items 10, 12 and 13 | 2.36 |
| Part 4, item 23 | 2.37 |
Schedule 3: Foreign resident CGT integrity measures
| Bill reference | Paragraph number |
| Items 1 to 3, section 855-30 | 3.63 |
| Item 4, subsection 855-32(3) | 3.34, 3.36 |
| Item 4, subsection 855-32(2) | 3.40 |
| Item 4, subsection 855-32(4) | 3.49, 3.51 |
| Item 4, subsection 855-32(1) | 3.33 |
| Item 5 | 3.65 |
| Items 6 and 8, section 855-15, paragraph (a) of the cell at table item 3, column headed 'Description' and subsection 855-35(1) | 3.57 |
| Item 6, section 855-15, paragraph (a) of the cell at table item 3, column headed 'Description' | 3.61 |
| Items 7 and 9, section 855-16 and definition of 'permanent establishment article' in subsection 995-1(1)() | 3.59 |
| Item 10 | 3.68 |
Schedule 4: Tax receipts
| Bill reference | Paragraph number |
| Item 1, ITAA 1997 , definition of 'tax receipt' in subsection 955-1(1) | 4.26 |
| Item 2, paragraph 70-5(1)(a) | 4.15 |
| Item 2, paragraphs 70-5(1)(b) and (c) and subsection 70-5(2) | 4.11 |
| Item 2, paragraph 70-5(1)(d) | 4.16, 4.17 |
| Item 2, subsection 70-5(3) | 4.19 |
| Item 2, paragraph 70-5(3)(c) | 4.20 |
| Item 2, paragraphs 70-5(3)(d) and (e) | 4.23 |
| Item 2, paragraph 70-5(3)(f) | 4.24 |
| Item 2, subsection 70-5(4) | 4.25 |
| Item 2, subsection 70-5(5) | 4.10 |
| Item 2, subsection 70-5(6) | 4.18 |
| Item 3 | 4.28 |
Schedule 5: Miscellaneous amendments
| Bill reference | Paragraph number |
| Items 1 to 6, 8, 12 to 28, 30, 31 and 69 to 72, section 79-100 of the GST Act, sections 6, 79B, 82CB, 82CD, 82CE and 128AE of the ITAA 1936, sections 30-36, 30-80, 30-85, 30-265, 30-280, 30-285, 30-289, 30-289B, 30-289C, 30-300, 30-305, 30-310, 34-55, 207-115 and 842-105 of the ITAA 1997, and sections 355-50 and 355-65 of Schedule 1 to the TAA 1953 | 5.9 |
| Items 7, 9 to 11, 29, 32 to 68 and 73, sections 6 and 73A of the ITAA 1936, sections 52-131 and 955-1 and 995-1 of the ITAA 1997, subsection 2(1) of the TAA 1953 and paragraph 355-70(8)(a) of Schedule 1 to the TAA 1953 | 5.13 |
| Item 74 | 5.14 |
| Item 75 | 5.15 |
| Item 76, section 955-1 of the ITAA 1997 | 5.16 |
| Items 77 to 79 and 81 to 82 | 5.20 |
| Item 80, section 3, paragraph(a) of the definition of statutory rate in the AFRSA Act | 5.19 |
| Item 83 | 5.18 |
| Items 84 to 91, sections 12-5, 26-100, 40-235, 110-38 and 110-55 of the ITAA 1997 | 5.21 |
| Item 92, subsection 111-5(3) of the GST Act | 5.24 |
| Item 93 | 5.25 |
| Items 95 to 97, subsection 6(1) of the ITAA 1936 | 5.27 |
| Item 98, subsection 30-25(1) of the ITAA 1997 | 5.41 |
| Item 99, subsection 30-45(1) of the ITAA 1997 | 5.34 |
| Item 100, subsection 30-50(1) of the ITAA 1997 | 5.36 |
| Item 101, subsection 30-50(1) of the ITAA 1997 | 5.38 |
| Item 102, subsection 30-70(1) of the ITAA 1997 | 5.39, 5.40 |
| Item 103 | 5.43 |
| Item 106, section 165-205 of the ITAA 1997 | 5.49 |
| Item 107 | 5.50 |
| Items 108 to 111, sections 219-70 and 219-75 of the ITAA 1997 | 5.55 |
| Items 112 and 119 | 5.58 |
| Item 114, paragraph 701-55(5)(d) of the ITAA 1997 | 5.62 |
| Items 115 to 118, sections 709-185 and 709-190 of the ITAA 1997 | 5.57 |
| Item 120, item 4A of the table in subsection 709-215(4) of the ITAA 1997 | 5.68 |
| Item 121 | 5.69 |
| Item 122, paragraph 10(3)(a) of the Superannuation Guarantee (Administration) Act 1992 | 5.74 |
| Item 123, the note to subsection 8AAZLGA(7) of the TAA 1953 | 5.75 |
| Items 124 and 147, paragraph 8C(1)(a) of the TAA 1953 and item 29 of Schedule 6 to the Tax Laws Amendment (2012 Measures No. 9) Act 2012 | 5.107 |
| Item 126, paragraph 15-30(d) of Schedule 1 to the TAA 1953 | 5.76 |
| Items 127 to 132, section 15-50 of Schedule 1 to the TAA 1953 | 5.80 |
| Item 134, subsection 155-15(1) in Schedule 1 to the TAA 1953 | 5.82 |
| Item 135 | 5.84 |
| Item 137, subsection 298-5 in Schedule 1 to the TAA 1953 | 5.87 |
| Item 137, subsection 298-5 in Schedule 1 to the TAA 1953 | 5.86 |
| Item 138, section 340-10 in Schedule 1 to the TAA 1953 | 5.90 |
| Item 139, subsection 355-65(2) to Schedule 1 to the TAA 1953 | 5.92 |
| Item 140 | 5.93 |
| Items 141 to 143, item 34 of Schedule 13 and item 19 of Schedule 15 to the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 | 5.100 |
| Items 144 and 145, subitems 20(1A) and (3A) of Schedule 1 to the Superannuation Legislation Amendment (Stronger Super) Act 2012 | 5.103 |
| Item 146, item 55 of Schedule 1 to the Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009 | 5.105 |
| Items 148 and 149, items 83 and 140 of Schedule 6 to the Tax Laws Amendment (2011 Measures No. 9) Act 2012 | 5.109 |
| Item 150, item 12 of Schedule 1 to the Tax Laws Amendment (2012 Measures No. 3) Act 2012 | 5.111 |
| Items 151 and 152, section 4 of the Tax Laws Amendment (2012 Measures No. 6) Act 2013 | 5.113 |
| Items 153 and 154, items 49 and 50 of Schedule 5 to the Tax Laws Amendment (Research and Development) Act 2011 | 5.114 |
| Items 155 and 156, section 3 of the Tax Laws Amendment (Temporary Budget Repair Levy) Act 2014 | 5.116 |