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


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