House of Representatives

Taxation Laws Amendment Bill (No. 7) 2000

Taxation Laws Amendment Act (No. 7) 2000

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)

Index

Schedule 1: Income tax deductions for gifts
Bill reference Paragraph no.
Item 1 1.16
Item 2 1.8
Item 3 1.22
Item 4 1.10, 1.20
Item 5 1.12, 1.14
Item 6 1.18

Schedule 2: Pay as you go (PAYG) instalments for certain beneficiaries of trusts
Bill reference Paragraph no.
Item 1, subsection 45-280(5) 2.25, 2.44
Item 1, subsection 45-280(6) 2.21
Item 1, paragraphs 45-280(6)(a) to (c) 2.22
Item 2, subsection 45-285(1) 2.27, 2.28
Item 2, paragraph 45-285(1)(a) 2.31
Item 2, paragraph 45-285(1)(b) 2.33
Item 2, paragraph 45-285(1)(c) 2.35
Item 2, paragraph 45-285(1)(d) 2.43
Item 2, subsection 45-285(2) 2.46
Item 2, paragraph 45-285(2)(a) 2.49
Item 2, paragraph 45-285(2)(b) 2.48
Item 2, paragraph 45-285(2)(c) 2.48
Item 2, paragraph 45-285(2)(d) 2.49
Item 2, subsection 45-285(3) 2.34
Item 2, subsection 45-287(1) 2.36
Item 2, subsection 45-287(2) 2.37
Item 2, subsection 45-287(3) 2.38
Item 2, paragraph 45-287(4)(a) 2.41
Item 2, paragraph 45-287(4)(b) 2.41
Item 2, paragraphs 45-288(a) to (e) 2.50
Items 3 and 4 2.53
Item 5 2.54

Schedule 3: CGT small business provisions
Bill reference Paragraph no.
Item 1, subsection 116-30(1) Table 3.1
Items 2, 3 and 5, section 152-12 and paragraphs 152-10(1)(a) and (d) Table 3.1
Item 4, subsection 152-10(4) Table 3.1
Item 6, paragraph 152-15(a)(iii) Table 3.1
Item 7, subsection 152-20(3) Table 3.1
Items 8 and 9, subsections 152-45(1) and 152-115(1) Table 3.1
Item 10, subsection 152-125(1) Table 3.1
Item 11, section 152-220 Table 3.1
Items 12 to 14, subsections 152-325(4) and (7) and paragraph 152-305(1)(b) Table 3.1
Item 15, section 152-425 Table 3.1
Items 16 and 17 3.6

Schedule 4: Minor CGT changes
Bill reference Paragraph no.
Items 1 to 5 Table 4.1
Item 6 to 59 Table 4.2
Item 60 to 64 Table 4.3
Item 65 4.5

Schedule 6: Discount capital gains: integrity measures
Bill reference Paragraph no.
Item 1, section 115-20 6.18
Item 2, subsection 115-30(1) 6.13
Item 3, subsection 115-45(4) 6.10
Item 3, subsections 115-45(3) and (5) to (7) 6.10
Item 4, section 115-60 6.15
Item 5, subsection 115-215(4) 6.19
Item 6 6.20

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