Explanatory Memorandum
(Circulated by the authority of the Treasurer, Hon J. B. Hockey MP)Index
Tax Laws Amendment (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, note to subsection 4-10(3) of the Income Tax Assessment Act 1997 | 1.25 |
| Item 2, section 4-11 of the Income Tax (Transitional Provisions) Act 1997 | 1.21, 1.41 |
| Item 2, subsection 4-11(3) of the Income Tax (Transitional Provisions) Act 1997 | 1.24, 1.27 |
| Item 2, subsection 4-11(5) of the Income Tax (Transitional Provisions) Act 1997 | 1.95 |
Schedule 2: Consequential amendments for fringe benefits tax
| Bill reference | Paragraph number |
| Items 1 and 2, sections 65J and 135Y of the Fringe Benefits Tax Assessment Act 1986 | 1.53 |
| Item 2, section 135Y of the Fringe Benefits Tax Assessment Act 1986 | 1.52 |
Schedule 3: Amendments of the Taxation Administration Regulations 1976
| Bill reference | Paragraph number |
| Items 1 and 2, regulations 2A and 36 of the Taxation Administration Regulations 1976 | 1.93 |
Income Tax Rates Amendment (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, section 34 of the Income Tax Rates Act 1986 | 1.23 |
| Item 1, section 35 of the Income Tax Rates Act 1986 | 1.45 |
| Item 1, section 36 of the Income Tax Rates Act 1986 | 1.36 |
Family Trust Distribution Tax (Primary Liability) Amendment (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, section 5 of the Family Trust Distribution Tax (Primary Liability) Act 1998 | 1.47 |
Fringe Benefits Tax Amendment (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, section 6A of the Fringe Benefits Tax Act 1986 | 1.49, 1.97 |
Income Tax (Bearer Debentures) Amendment (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, section 7 of the Income Tax (Bearer Debentures) Act 1971 | 1.55 |
Income Tax (First Home Saver Accounts Misuse Tax) Amendment (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, section 8 of the Income Tax (First Home Saver Accounts Misuse Tax) Act 2008 | 1.57 |
Income Tax (TFN Withholding Tax (ESS)) Amendment (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, section 5 of the Income Tax (TFN Withholding Tax (ESS)) Act 2009 | 1.59 |
Superannuation (Departing Australia Superannuation Payments Tax) Amendment (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, section 6 of the Superannuation (Departing Australia Superannuation Payments Tax ) Act 2007 | 1.62 |
Superannuation (Excess Non-Concessional Contributions Tax) Amendment (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, section 6 of the Superannuation (Excess Non-concessional Contributions Tax) Act 2007 | 1.68 |
| Item 1, subsection 6(3) of the Superannuation (Excess Non-concessional Contributions Tax) Act 2007 | 1.72 |
Superannuation (Excess Untaxed Roll-over Amounts Tax) Amendment (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, section 6 of the Superannuation (Excess Untaxed Roll-over Amounts Tax) Act 2007 | 1.74 |
Taxation (Trustee Beneficiary Non-disclosure Tax) (No. 1) Amendment (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, section 5 of the Taxation (Trustee Beneficiary Non-disclosure Tax) Act (No. 1) 2007 | 1.76 |
Taxation (Trustee Beneficiary Non-disclosure Tax) (No. 2) Amendment (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, section 5 of the Taxation (Trustee Beneficiary Non-disclosure Tax) Act (No. 2) 2007 | 1.78 |
Tax Laws Amendment (Interest on Non-Resident Trust Distributions) (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, subsection 102AAM(10A) of the Income Tax Assessment Act 1936 | 1.82 |
Tax Laws Amendment (Untainting Tax) (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, subparagraph (b)(ii) of the definition of 'applicable tax rate' in subsection 197-60(3) of the Income Tax Assessment Act 1997 | 1.86 |
| Item 3, subsection 197-60(5) of the Income Tax Assessment Act 1997 | 1.87 |
Trust Recoupment Tax Amendment (Temporary Budget Repair Levy) Bill 2014
Schedule 1: Temporary Budget Repair Levy
| Bill reference | Paragraph number |
| Item 1, section 6 of the Trust Recoupment Tax Act 1985 | 1.91 |