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Tax and Superannuation Laws Amendment (2015 Measures No. 1) Act 2015 (70 of 2015)
- Front Matter
- 1 Short title
- 2 Commencement
- 3 Schedules
- Schedule 1 First Home Saver Accounts
- Part 1 Repeals of Acts
- First Home Saver Account Providers Supervisory Levy Imposition Act 2008
- 1 The whole of the Act
- First Home Saver Accounts Act 2008
- 2 The whole of the Act
- Income Tax (First Home Saver Accounts Misuse Tax) Act 2008
- 3 The whole of the Act
- Part 2 Consequential amendments
- Division 1 Main amendments
- Anti-Money Laundering and Counter-Terrorism Financing Act 2006
- 4 Section 5 (definition of contribution)
- 5 Section 5 (definition of FHSA)
- 6 Section 5 (definition of FHSA provider)
- 7 Subsection 6(2) (table items 43A and 43B)
- Australian Prudential Regulation Authority Act 1998
- 8 Subsection 3(1) (paragraph (fa) of the definition of prudential regulation framework law)
- 9 Paragraph 3(2)(g)
- 10 Paragraph 3(2)(h)
- 11 Subsection 3(2) (note)
- 12 Subsection 56(1) (subparagraph (e)(ii) of the definition of protected document)
- 13 Subsection 56(1) (paragraph (f) of the definition of protected document)
- 14 Subsection 56(1) (subparagraph (e)(ii) of the definition of protected information)
- 15 Subsection 56(1) (paragraph (f) of the definition of protected information)
- Australian Securities and Investments Commission Act 2001
- 16 Paragraph 12A(1)(h)
- 17 Paragraph 12BAA(7)(ga)
- Banking Act 1959
- 18 Subparagraph 11CA(1)(a)(iii)
- 19 Paragraph 11CA(1)(c)
- 20 Subparagraph 11CA(2)(aa)(ii)
- 21 Subparagraph 11CA(2)(aa)(iii)
- 22 Subsection 18A(5)
- 23 Section 51A (definition of reviewable decision of APRA)
- 24 Subsection 62A(4)
- 25 Paragraph 69(3)(b)
- 26 Subsection 69(3) (note)
- Corporations Act 2001
- 27 Section 9 (definition of FHSA product)
- 28 Section 9 (paragraph (ha) of the definition of managed investment scheme)
- 29 Section 761A (paragraph (da) of the definition of basic deposit product)
- 30 Section 761A (definition of FHSA product)
- 31 Subsection 761E(3) (table item 2A)
- 32 Paragraph 761E(3A)(ba)
- 33 Paragraph 764A(1)(ha)
- 34 Paragraph 766E(3)(cb)
- 35 Subsection 946AA(1A)
- 36 Paragraph 961F(c)
- 37 Subsection 1016A(1) (paragraph (da) of the definition of relevant financial product)
- 38 Subparagraphs 1017D(1)(b)(iiia) and 1019A(1)(a)(iiia)
- Financial Institutions Supervisory Levies Collection Act 1998
- 39 Section 7 (paragraph (f) of the definition of leviable body)
- 40 Section 7 (paragraph (g) of the definition of leviable body)
- 41 Section 7 (definition of leviable FHSA entity)
- 42 Section 7 (paragraph (f) of the definition of levy)
- 43 Section 7 (paragraph (g) of the definition of levy)
- 44 Subsection 8(7)
- Fringe Benefits Tax Assessment Act 1986
- 45 Subsection 136(1) (paragraph (hd) of the definition of fringe benefit)
- Income Tax Act 1986
- 46 Subsection 5(2B)
- Income Tax Assessment Act 1936
- 47 Subsection 6(1) (paragraph (h) of the definition of assessment)
- 48 Subsection 6(1) (paragraph (i) of the definition of assessment)
- 49 Subsection 6(1) (definition of FHSA)
- 50 Subsection 6(1) (definition of FHSA trust)
- 51 Subsection 6(1) (paragraph (f) of the definition of full self-assessment taxpayer)
- 52 Subsection 6(1) (paragraph (g) of the definition of full self-assessment taxpayer)
- 53 Subparagraph 26AH(7)(ba)(i)
- 54 Section 95AA
- 55 Subparagraph 102MD(a)(ii)
- 56 Paragraph 124ZM(3)(d)
- 57 Paragraph 124ZM(3)(da)
- 58 Paragraph 124ZM(6)(a)
- 59 Paragraph 124ZM(6)(a) (definition of complying superannuation/FHSA class of taxable income)
- 60 Paragraph 202(kb)
- 61 Section 202A (definition of interest-bearing account)
- 62 Section 202A (definition of interest-bearing deposit)
- 63 Section 202A (definition of unit trust)
- 64 Paragraph 272-100(e) in Schedule 2F
- Income Tax Assessment Act 1997
- 65 Section 9-1 (table item 8A)
- 66 Section 10-5 (table item headed "first home saver accounts")
- 67 Section 10-5 (table item headed "reimbursements")
- 68 Section 11-55 (table item headed "first home saver accounts")
- 69 Section 15-80
- 70 Paragraphs 51-120(c) and (d)
- 71 Subparagraph 115-100(a)(ii)
- 72 Subparagraphs 115-100(b)(iia) and 115-280(1)(a)(ia)
- 73 Paragraph 115-280(2)(a)
- 74 Paragraph 115-280(2)(b)
- 75 Paragraph 115-280(5)(a)
- 76 Paragraph 115-280(5)(b)
- 77 Paragraphs 166-245(2)(ba) and (3)(ba)
- 78 Subsection 205-15(3)
- 79 Paragraph 205-30(2)(a)
- 80 Paragraphs 207-15(2)(a) and 207-35(1)(c)
- 81 Paragraph 207-45(ca)
- 82 Subsection 210-175(2)
- 83 Subsection 210-175(2) (definition of complying superannuation/FHSA class of taxable income)
- 84 Subparagraph 290-5(c)(iii)
- 85 Paragraphs 290-5(d) and (e)
- 86 Subsection 295-10(2) (step 4 of the method statement)
- 87 Subsection 295-10(2) (step 5 of the method statement)
- 88 Section 295-171
- 89 Section 295-495 (table item 4A)
- 90 Paragraph 295-555(1)(b)
- 91 Subsection 295-555(1) (note)
- 92 Subsection 295-555(3)
- 93 Paragraph 295-555(3)(b)
- 94 Subsection 295-555(4)
- 95 Paragraph 295-615(1)(b)
- 96 Paragraph 295-615(1)(d)
- 97 Paragraph 295-615(1)(e)
- 98 Section 320-1
- 99 Paragraph 320-80(2)(b)
- 100 Paragraph 320-85(2)(ba)
- 101 Subsection 320-107(3)
- 102 Subsection 320-107(3) (definition of complying superannuation/FHSA class rate)
- 103 Division 345
- 104 Subparagraph 380-15(1)(d)(iv)
- 105 Subsection 713-545(6)
- 106 Subsection 713-545(6) (definition of complying superannuation/FHSA class tax rate)
- 107 Subsection 995-1(1)
- 108 Subsection 995-1(1) (definition of standard component)
- Income Tax Rates Act 1986
- 109 Subsection 3(1)
- 110 Subsection 3(1) (definition of complying superannuation/FHSA class)
- 111 Subsection 3(1) (definition of FHSA component)
- 112 Subsection 3(1) (definition of FHSA provider)
- 113 Subsection 3(1) (definition of FHSA trust)
- 114 Paragraphs 23(2)(ba) and (3)(aa)
- 115 Subsection 23(3A)
- 116 Paragraph 23A(b)
- 117 Section 30
- Life Insurance Act 1995
- 118 Subparagraph 14(2)(a)(ii)
- 119 Subparagraph 14(2)(a)(iii)
- 120 Subparagraph 14(4)(b)(ii)
- 121 Subparagraph 14(4)(b)(iii)
- 122 Subsection 74(1)
- 123 Subsection 74(2)
- 124 Subsection 126(1)
- 125 Subsection 126(2)
- 126 Subsection 216(1)
- 127 Subsection 216(1) (note)
- 128 Subsections 230A(14), 230B(11) and 236(1AA)
- Social Security Act 1991
- 129 Paragraph 8(8)(ba)
- 130 Subsection 9(1) (definition of financial investment)
- 131 Subsection 9(1) (paragraph (b) of the definition of investment)
- 132 Subsection 9(1) (paragraph (c) of the definition of investment)
- 133 Subsection 9(1) (paragraph (b) of the definition of return)
- 134 Subsection 9(1) (paragraph (c) of the definition of return)
- 135 Paragraph 9(1C)(cb)
- 136 Subsection 9(9B)
- 137 Subsection 10B(2) (paragraph (ca) of the definition of trust)
- 138 Subsection 23(1) (paragraph (b) of the definition of investment)
- 139 Subsection 23(1) (paragraph (c) of the definition of investment)
- 140 Subsection 23(1) (paragraph (b) of the definition of return)
- 141 Subsection 23(1) (paragraph (c) of the definition of return)
- 142 Paragraph 1118(1)(fa)
- 143 Paragraph 1207P(1)(c)
- 144 Paragraph 1207P(1)(d)
- Superannuation (Government Co-contribution for Low Income Earners) Act 2003
- 145 Subparagraph 7(1)(c)(iv)
- 146 Subparagraphs 7(1)(c)(v) and (vi)
- Superannuation Industry (Supervision) Act 1993
- 147 Paragraph 29G(2)(f)
- 148 Paragraph 29G(2)(v)
- 149 Subsection 108A(3)
- 150 Subsection 108A(3) (note)
- Taxation Administration Act 1953
- 151 Subsection 8AAB(4) (table items 4 and 16)
- 152 Paragraph 15C(8)(c)
- 153 Paragraph 12-1(3)(b) in Schedule 1
- 154 Paragraph 45-120(2)(c) in Schedule 1
- 155 Paragraph 45-120(2)(ca) in Schedule 1
- 156 Paragraph 45-120(2A)(b) in Schedule 1
- 157 Paragraph 45-290(2)(c) in Schedule 1
- 158 Paragraph 45-290(2)(d) in Schedule 1
- 159 Subsection 45-290(3) in Schedule 1
- 160 Paragraph 45-330(2)(c) in Schedule 1
- 161 Paragraph 45-330(2)(d) in Schedule 1
- 162 Subsection 45-330(3) in Schedule 1 (steps 4, 5 and 6 of the method statement)
- 163 Paragraph 45-370(2)(c) in Schedule 1
- 164 Paragraph 45-370(2)(d) in Schedule 1
- 165 Subsection 45-370(3) in Schedule 1 (step 2 of the method statement)
- 166 Subsection 250-10(2) in Schedule 1 (table items 24D, 24E and 38C)
- 167 Subsections 286-75(2B) and (2C) in Schedule 1
- 168 Subsection 288-70(1) in Schedule 1 (heading)
- 169 Subsection 288-70(2) in Schedule 1 (heading)
- 170 Paragraph 288-70(2)(a) in Schedule 1
- 171 Subsection 355-65(3) in Schedule 1 (table item 6)
- 172 Subsection 355-65(4) in Schedule 1 (table item 5)
- 173 Subsection 355-65(5) in Schedule 1 (cell at table item 2, column headed "and the record or disclosure ...")
- 174 Division 391 in Schedule 1
- Veterans' Entitlements Act 1986
- 175 Paragraph 5H(8)(ia)
- 176 Subsection 5J(1) (definition of financial investment)
- 177 Subsection 5J(1) (paragraph (b) of the definition of investment)
- 178 Subsection 5J(1) (paragraph (c) of the definition of investment)
- 179 Subsection 5J(1) (paragraph (aa) of the definition of return)
- 180 Paragraph 5J(1C)(cb)
- 181 Subsection 5J(6B)
- 182 Subsection 5Q(1) (paragraph (b) of the definition of investment)
- 183 Subsection 5Q(1) (paragraph (c) of the definition of investment)
- 184 Subsection 5Q(1) (paragraph (b) of the definition of return)
- 185 Paragraph 52(1)(faa)
- 186 Paragraph 52ZZB(1)(c)
- 187 Paragraph 52ZZB(1)(d)
- Division 2 Repeals of Tax Code definitions
- Income Tax Assessment Act 1997
- 188 Subsection 995-1(1)
- Division 3 Other bulk amendments
- Income Tax Assessment Act 1997
- 189 The whole of the Act
- 190 The whole of the Act
- 191 The whole of the Act
- 192 The whole of the Act
- Part 3 Amendment of the Omnibus Repeal Day (Spring 2014) Act 2015
- Omnibus Repeal Day (Spring 2014) Act 2015
- 193 Division 2 of Part 1 of Schedule 8 (heading specifying First Home Saver Accounts Act 2008)
- 194 Items 4 and 5 of Schedule 8
- Part 4 Application and transitional provisions
- Division 1 Definitions
- 195 Definitions
- Division 2 General provisions
- 196 No new FHSAs
- 197 FHSA regime ends on 1 July 2015
- 198 Making and amending assessments, and doing other things, in relation to past matters
- 199 Saving of provisions about effect of assessments
- 200 Saving of provisions about FHSA misuse tax, general interest charge and interest
- 201 Repeals disregarded for the purposes of dependent provisions
- 202 Interaction with other laws
- Division 3 Specific provisions
- 203 FHSA eligibility requirements
- 204 Government FHSA contributions
- 205 Tax file numbers
- Schedule 2 Dependent spouse tax offset
- Part 1 Main amendments
- Income Tax Assessment Act 1936
- 1 Subparagraphs 23AB(7)(a)(ii) and (iii)
- 2 Subsection 23AB(7) (notes 1 and 2)
- 3 Subsection 23AB(7A)
- 4 Paragraphs 79A(2)(a), (d) and (e)
- 5 Paragraph 79A(2)(f)
- 6 Subsection 79A(4) (definition of dependent spouse relevant rebate amount)
- 7 Subsection 79A(4) (definition of relevant rebate amount)
- 8 Subparagraph 79B(2)(a)(ii)
- 9 Subparagraph 79B(2)(a)(iii)
- 10 Paragraph 79B(4)(b)
- 11 Paragraph 79B(4)(c)
- 12 Subparagraph 79B(4A)(b)(ii)
- 13 Subparagraph 79B(4A)(b)(iii)
- 14 Subsection 79B(6) (definition of concessional rebate amount)
- 15 Subsection 79B(6) (definition of dependent spouse concessional rebate amount)
- 16 Sections 159J, 159JA, 159K, 159L, 159LA and 159M
- Income Tax Assessment Act 1997
- 17 After Division 960
- Part 2 Consequential amendments
- Income Tax Assessment Act 1936
- 18 Subsection 159HA(1)
- 19 Subsection 159HA(6A)
- 20 Subsection 159HA(7) (table items 1, 2 and 3)
- 21 Subsection 159P(4) (paragraphs (c), (ca) and (d) of the definition of dependant)
- 22 Subsection 159P(4) (at the end of the definition of dependant)
- 23 Subsection 251R(4)
- Income Tax Assessment Act 1997
- 24 Section 13-1 (table item headed "child/housekeeper")
- 25 Section 13-1 (table item headed "dependants")
- 26 Section 13-1 (table items headed "housekeeper", "parent/parent-in-law" and "spouse")
- 27 Subparagraph 61-10(1)(c)(ii)
- 28 Paragraphs 61-10(1)(d) and (e)
- 29 Subsection 61-10(1) (note)
- Medicare Levy Act 1986
- 30 Paragraphs 8(1)(b), (c) and (d)
- 31 Paragraphs 8(2)(b), (c) and (d)
- 32 Subsection 8(5) (definition of family income threshold)
- Tax and Superannuation Laws Amendment (2014 Measures No. 1) Act 2014
- 33 Items 4 and 5 of Schedule 3
- Part 3 Technical amendments
- Income Tax Assessment Act 1997
- 34 Subsection 61-15(3)
- 35 At the end of section 61-25
- 36 Paragraph 61-40(1)(f)
- 37 Subsection 61-40(2)
- Part 4 Application of amendments
- 38 Application of amendments - Parts 1 and 2
- 39 Application of amendments - Part 3
- Schedule 3 Offshore banking units
- Part 1 Trading in subsidiaries
- Income Tax Assessment Act 1936
- 1 Paragraph 121D(1)(c)
- 2 After subsection 121D(4)
- Part 2 The choice principle
- Income Tax Assessment Act 1936
- 3 Paragraph 121B(2)(a)
- 4 Section 121C
- 5 Subsection 121D(1)
- 6 After section 121EA
- 7 Subsection 121EB(1)
- Part 3 Allocation of expenses
- Income Tax Assessment Act 1936
- 8 Subsection 6(1)
- 9 Paragraph 121B(2)(b)
- 10 Section 121C (definition of assessable OB income)
- 11 Section 121C
- 12 Section 121E
- 13 After section 121ED
- 14 Subsections 121EE(2) to (3A)
- 15 Subsection 121EF(4)
- 16 Paragraph 121EH(a)
- Part 4 Eligible OB activities
- Income Tax Assessment Act 1936
- 17 Section 121C (definition of eligible contract)
- 18 Section 121C
- 19 Paragraph 121D(1)(d)
- 20 Paragraph 121D(1)(f)
- 21 After paragraph 121D(1)(g)
- 22 Paragraph 121D(2)(b)
- 23 At the end of subsection 121D(2)
- 24 Paragraphs 121D(3)(a) and (b)
- 25 Paragraph 121D(3)(d)
- 26 After paragraph 121D(4)(a)
- 27 At the end of subsection 121D(4)
- 28 Subsection 121D(5)
- 29 Paragraph 121D(6A)(e)
- 30 Paragraph 121D(6A)(f)
- 31 Subsection 121D(7)
- 32 After section 121DA
- Part 5 Internal financial dealings
- Income Tax Assessment Act 1936
- 33 At the end of section 121EB
- Part 6 Application of amendments
- 34 Application of amendments
- Schedule 4 Exemption for Global Infrastructure Hub Ltd
- Part 1 Amendments commencing day after Royal Assent
- Income Tax Assessment Act 1997
- 1 Section 11-5 (table item headed "primary or secondary resources, and tourism")
- 2 Section 50-40 (at the end of the table)
- Part 2 Sunsetting on 1 July 2021
- Income Tax Assessment Act 1997
- 3 Section 11-5 (table item headed "primary or secondary resources, and tourism")
- 4 Section 50-40 (table item 8.4)
- Schedule 5 Deductible gift recipient extensions
- Income Tax Assessment Act 1997
- 1 Subsection 30-50(2) (table items 5.2.32 and 5.2.33)
- Tax and Superannuation Laws Amendment (2013 Measures No. 2) Act 2013
- 2 Subsection 2(1) (table item 8)
- 3 Division 1 of Part 2 of Schedule 4 (heading)
- Schedule 6 Miscellaneous amendments
- Part 1 General amendments
- A New Tax System (Goods and Services Tax) Act 1999
- 1 Section 23-1 (diagram)
- 2 Paragraph 134-10(1)(e)
- Charities (Consequential Amendments and Transitional Provisions) Act 2013
- 3 Item 31 of Schedule 1
- Fringe Benefits Tax Assessment Act 1986
- 4 Subsection 136(1) (subparagraph (b)(iii) of the definition of in-house residual fringe benefit)
- Fuel Tax Act 2006
- 5 Subsection 3-5(3) (table)
- 6 Subsections 41-5(1) and 41-10(1), (2) and (3)
- 7 Section 42-5
- 8 Paragraph 43-7(5)(a)
- 9 Section 110-5 (definition of Australia)
- 10 Section 110-5
- 11 Section 110-5 (paragraph (d) of the definition of taxable fuel)
- 12 Application
- Income Tax Assessment Act 1997
- 13 Section 13-1 (table item headed "primary production")
- 14 Section 13-1 (table item headed "social security and other benefit payments")
- 15 Paragraph 25-110(1)(a)
- 16 Paragraph 26-47(3)(b)
- 17 Paragraph 30-242(3A)(b)
- 18 Paragraph 35-5(1)(a)
- 19 Subsection 35-5(2)
- 20 Subsection 35-10(2A)
- 21 Paragraph 35-10(2B)(a)
- 22 Subsections 35-10(2C) and (2D)
- 23 Paragraphs 40-880(1)(c) and (2)(b)
- 24 Subsections 40-880(3) and (4)
- 25 Subsection 40-880(7)
- 26 Paragraph 41-20(1)(d)
- 27 Subparagraph 83A-130(1)(a)(ii)
- 28 Application
- 29 Section 104-5 (cell at table item dealing with CGT event K1, column headed "Event number and description")
- 30 Section 112-97 (table item 18A, column headed "In this situation")
- 31 Subsection 219-30(1)
- 32 Subsection 316-65(1) (definitions of embedded value of the friendly society's other business (if any) and market value of the friendly society's health insurance business (if any))
- 33 Paragraphs 415-15(3)(b) and 415-20(1)(b) and (2)(b)
- 34 Paragraph 415-20(4)(a)
- 35 Subsection 995-1(1) (definition of available frankable profits)
- 36 Subsection 995-1(1) (paragraph (a) of the definition of foreign resident life insurance policy)
- 37 Subsection 995-1(1)
- 38 Subsection 995-1(1) (definition of wine taxable dealing)
- Income Tax Rates Act 1986
- 39 Section 12B (the section 12B inserted by item 1 of Schedule 1 to the Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Act 2011)
- Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Act 2011
- 40 Item 1 of Schedule 2 (heading)
- Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012
- 41 Item 16 of Schedule 3
- Product Stewardship (Oil) Act 2000
- 42 After section 4
- Superannuation (Government Co-contribution for Low Income Earners) Act 2003
- 43 Paragraph 16(1)(d)
- 44 Subsection 16(3)
- 45 Paragraph 20(1)(d)
- 46 Subsection 20(3)
- Tax Agent Services Act 2009
- 47 Subparagraph 20-5(2)(c)(ii)
- 48 Subparagraph 20-5(2)(c)(iii)
- 49 Subparagraph 20-5(3)(d)(ii)
- 50 Subparagraph 20-5(3)(d)(iii)
- Taxation Administration Act 1953
- 51 Subsection 12-390(4) in Schedule 1 (note)
- 52 Section 105-1 in Schedule 1
- 53 Section 105-140 in Schedule 1
- 54 Application
- 55 Subsection 111-60(1) in Schedule 1
- 56 Paragraph 382-5(2)(c) in Schedule 1
- 57 Paragraph 426-55(1)(a) in Schedule 1
- 58 Subsection 426-55(3) in Schedule 1
- 59 Application of amendments
- 60 Subsection 2(3)
- 61 Division 4 of Part 2
- Taxation (Interest on Overpayments and Early Payments) Act 1983
- 62 Subparagraph 12A(1)(a)(i)
- 63 Application
- Treasury Legislation Amendment (Repeal Day) Act 2015
- 64 Item 73 of Schedule 2
- Part 2 Consequential amendments relating to the Public Governance, Performance and Accountability Act 2013
- Australian Charities and Not-for-profits Commission Act 2012
- 65 Section 110-15 (note)
- 66 Section 115-30
- 67 Paragraph 115-50(2)(c)
- 68 Subsection 125-5(1)
- 69 Subsection 125-5(2)
- 70 Section 125-10 (heading)
- 71 Section 125-10
- 72 Section 125-10 (note)
- 73 Section 125-15 (heading)
- 74 Section 125-15
- 75 Section 125-15 (note)
- 76 Subsection 135-15(2) (note)
- 77 Section 140-20
- 78 Subsections 145-5(5), (6) and (7)
- 79 Subsection 175-70(2) (note 1)
- 80 Subsection 175-70(2) (note 2)
- 81 Section 300-5 (definition of Account)
- Schedule 7 Investment Manager Regime
- Part 1 Main amendments
- Income Tax Assessment Act 1997
- 1 Subdivision 842-I
- Part 2 Other amendments
- Income Tax Assessment Act 1936
- 2 Section 94T
- 3 At the end of section 94T
- Income Tax Assessment Act 1997
- 5 Section 11-55 (after table item headed "GST")
- 6 Subsection 995-1(1)
- 7 Subsection 995-1(1)
- 8 Subsection 995-1(1)
- 9 Subsection 995-1(1)
- 10 Subsection 995-1(1)
- 11 Application of amendments
- Income Tax (Transitional Provisions) Act 1997
- 12 Before section 842-210
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