House of Representatives
Tax and Superannuation Laws Amendment (2016 Measures No. 2) Bill 2016
Explanatory Memorandum
(Circulated by the authority of the Minister for Revenue and Financial Services, the Hon Kelly O'Dwyer MP)Index
Schedule 1: Commissioner's Remedial Power
| Bill reference | Paragraph number |
| Item 2, paragraph 3B(1AA)(e) | 1.51 |
| Item 3, subsection 370-5(2) | 1.16 |
| Item 3, paragraph 370-5(1)(a) | 1.27 |
| Item 3, note to paragraph 370-10(c) | 1.30 |
| Item 3, section 370-10 | 1.31 |
| Item 3, paragraph 370-10(c) | 1.33 |
| Item 3, subparagraphs 370-5(1)(b)(i) and (ii) | 1.37 |
| Item 3, paragraph 370-5(1)(c) | 1.46 |
| Item 3, subsection 370-5(1) | 1.15, 1.24, 1.26 |
| Item 3, paragraph 370-5(3)(a) | 1.53 |
| Item 3, subsection 370-5(4) | 1.56 |
| Item 3, paragraph 370-5(3)(b) | 1.65 |
| Item 3, subsection 370-5(5) | 1.68 |
| Item 3, section 370-20 | 1.70, 1.75 |
| Item 3, subsection 370-15(1) | 1.75 |
| Item 3, subsection 370-15(2) | 1.75 |
| Item 3, subsection 370-15(3) | 1.75, 1.76 |
| Item 4, subitem (3) | 1.52 |
| Item 4, subitem (1) | 1.52 |
| Item 4, subitem (2) | 1.52 |
Schedule 2: Primary producer income averaging
| Bill reference | Paragraph number |
| Item 1, subsection 392-5(6) | 2.18 |
| Item 2, subsection 392-10(3); note to subsection 392-10(3) | 2.9, 2.20 |
| Item 3, subsection 392-25(1) | 2.16 |
| Item 3, subsection 392-25(1A) | 2.17 |
| Item 3, subsection 392-25(1) | 2.8, 2.15 |
| Item 5 | 2.19 |
Schedule 3: Cars for display by public institutions
| Bill reference | Paragraph number |
| Item 1, paragraph 7-10(3)(ba) | 3.22, 3.24 |
| Item 1, subparagraph 7-10(3)(ba)(i) | 3.25 |
| Item 1, subparagraph 7-10(3)(ba)(ii) | 3.28 |
| Item 1, subparagraph 7-10(3)(ba)(iii) | 3.31 |
| Item 2, subsection 15-30(1A) | 3.37 |
| Item 2, subsection 15-30(1A) | 3.41 |
| Items 3 and 4, subsection 15-30(3A) and subsection 15-35(3A) | 3.51 |
| Items 3 and 4, subparagraph 15-30(3A)(c)(i) and subparagraph 15-35(3A)(c)(i) | 3.54 |
| Items 3 and 4, subparagraph 15-30(3A)(c)(ii) and subparagraph 15-35(3A)(c)(ii) | 3.58 |
| Items 3 and 4, subsection 15-30(3B) and subsection 15-35(3B) | 3.60 |
| Item 5, paragraph 15-35(4)(c) | 3.70 |
| Item 6 | 3.71 |
Schedule 4: Miscellaneous amendments
| Bill reference | Paragraph number |
| Items 1 and 7, paragraphs 160AAA(a) and 160AAA(d) of the ITAA 1936 | 4.8 |
| Items 2 and 3, paragraphs 202CB(6)(a) and 202CE(7)(a) of the ITAA 1936 | 4.10 |
| Item 4, paragraph 16(c) of the Income Tax Rates Act 1986 | 4.12 |
| Items 5 and 6, paragraphs 12-110(cb) and 12-110(d) in Schedule 1 of the TAA 1953 | 4.14 |
| Item 8 | 4.17 |
| Items 9 to 18, 21, 22, 24, 28 to 30, 50, 79, 83, 90 and 91, subsections 6(1) and 202CB(6) of the ITAA 1936; item 2.1.7 in the table in subsection 30-25(1), subsections 52-131(9) (note) and 995-1(1), paragraphs 30-30(1)(c) and 30-30(1)(d) of the ITAA 1997; item 4 in the table in subsection 355-65(2) in Schedule 1 to the TAA 1953; subsection 177-10(3) and section 195-1 of the GST Act | 4.21 |
| Item 19, subsection 25(2) of the CGC Act | 4.25 |
| Item 20, subsection 6(1) (paragraph (f) of the definition of assessment) of the ITAA 1936 | 4.26 |
| Items 23 and 81, subsection 995-1(1) of the ITAA 1997 and section 202A of the ITAA 1936 | 4.27 |
| Items 25 and 88, section 271-100 in Schedule 2F of the ITAA 1936 and subsection 350-10(1) in Schedule 1 to the TAA 1953 | 4.77 |
| Items 27 and 33, item 6 in the table in section 30-15, and item 6.2.15 in the table in subsection 30-55(2) of the ITAA 1997 | 4.33 |
| Item 32 | 4.37 |
| Item 34)
RSPCA Australia (ABN 99 668 654 249) R.S.P.C.A. Australia Incorporated became a public company limited by guarantee, effective from 10 July 2015. Schedule 4 updates the listing of R.S.P.C.A. Australia Incorporated to RSPCA Australia, effective for gifts or contributions made from 10 July 2015. [Schedule 4, item 31, item 4.2.14 in the table in subsection 30-45(2) of the ITAA 1997 |
4.34 |
| Item 35, item 8.2.6 in the table in subsection 30-70(2) of the ITAA 1997 | 4.39 |
| Item 36 | 4.40 |
| Item 37, item 86C in the table in section 30-315 of the ITAA 1997 | 4.41 |
| Items 38, 41 to 49, paragraph 40-25(8)(a), subsections 40-525(1), (2), (3) and (4) (paragraph (a) of the note), subsection 40-630(1) (paragraph (a) of the note), subsection 40-730(1) (paragraph (a) of the note), subsection 40-735(1) (paragraph (a) of note 2), subsection 40-750(1) (paragraph (a) of note 2), subsection 40-755(1) (paragraph (a) of the note), section 40-835 (paragraph (a) of the note), subsection 40-880(1) (paragraph (a) of the note) and subsection 43-140(1) (paragraph (a) of note 2) of the ITAA 1997 | 4.43 |
| Item 39, subsection 40-180(4) (note) of the ITAA 1997 | 4.47 |
| Items 40, 52-53, 55-56, 60, 74-76, subsection 40-520(1), subsection 124-784B(2), paragraphs 165-60(3)(a), 165-60(3)(b), 701-25(4)(b), 701-35(4)(b), and 705-30(1)(b), and section 328-285 (note 2) of the ITAA 1997 | 4.48 |
| Item 41, subsections 40-525(1), (2), (3) and (4) (paragraph (a) of the note) of the ITAA 1997 | 4.44 |
| Item 51, subsection 122-25(3) of the ITAA 1997 | 4.49 |
| Items 54 and 58, paragraphs 149-15(3)(e) and 165-202(1)(c) of the ITAA 1997 | 4.50 |
| Item 57, subsection 165-115A(1A) of the ITAA 1997 | 4.51 |
| Item 59, subsection 307-290(3) of the ITAA 1997 | 4.52 |
| Items 61 to 69, subparagraphs 355-210(1)(d)(i), 355-210(1)(e)(i), 355-210(1)(e)(ii), 355-215(b)(i) and 355-220(1)(b)(i), paragraphs 355-210(1)(a), 355-215(a) and 355-220(1)(a), and subsection 355-210(1) (note) of the ITAA 1997 | 4.54 |
| Item 70, paragraph 418-15(1)(d) of the ITAA 1997 | 4.58 |
| Items 71, 72, 94 and 95, subparagraphs 418-80(3)(d)(ii) and 418-80(3)(d)(iii) of the ITAA 1997, item 8 in the table in subsection 2(1) and item 21 of Schedule 6 to the Tax and Superannuation Laws Amendment (2014 Measures No. 7) Act 2015 | 4.60 |
| Item 73, paragraph 615-10(1)(a) of the ITAA 1997 | 4.63 |
| Item 77, Subdivision 716-S (heading) of the ITAA 1997 | 4.64 |
| Item 78, paragraph 770-135(1)(b) of the ITAA 1997 | 4.65 |
| Item 80, subsection 995-1(1) (definition of public official) of the ITAA 1997 | 4.66 |
| Item 82, subsection 995-1(1) (definition of shortfall amount) of the ITAA 1997 | 4.67 |
| Item 84, subsection 42(2A) of the Product Grants and Benefits Administration Act 2000 | 4.69 |
| Item 85, paragraph 20N(2)(a) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 | 4.71 |
| Item 86, subsection 3B(1C) of the TAA 1953 | 4.72 |
| Item 87, section 14ZQ (definition of starting base assessment) of the TAA 1953 | 4.74 |
| Items 88 to 89 and 93, subsections 350-10(1), and 350-10(2) in Schedule 1 to the TAA 1953 and item 262 of Schedule 1 to the Indirect Tax Laws Amendment (Assessment) Act 2012 | 4.76 |
| Item 91, item 5 in the table in subsection 355-65(2) in Schedule 1 to the TAA 1953 | 4.23 |
| Item 91, item 5AA in the table in subsection 355-65(2) in Schedule 1 to the TAA 1953 | 4.80 |
| Item 96, item 7 in the table in subsection 2(1) of the Tax and Superannuation Laws Amendment (2015 Measures No. 1) Act 2015 | 4.82 |
| Items 97 to 98, items 3 and 36 of Schedule 2 to the Treasury Legislation Amendment (Repeal Day) Act 2015 | 4.83 |
| Items 99 to 143 | 4.85 |
| Items 144 to 148 | 4.88 |
| Item 149, Income Tax (War-time Arrangements) Act 1942 | 4.89 |
| Subitem 92(2) | 4.81 |
| Subitem 92(1) | 4.24 |