House of Representatives
Taxation Laws Amendment (Research and Development) Bill 2001
Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)Index
Schedule 1: Streamlining amendments
| Bill reference | Paragraph number |
|---|---|
| Part 1, item 1, subsection 73B(1AAA) of the ITAA 1936 | 1.3 |
| Part 1, item 2, section 39AA of the IR & DA 1986 | 1.3, 1.12 |
| Part 2, item 3 | 1.4 |
| Part 2, item 4 | 1.21 |
| Part 3, item 5, subsection 73B(2BA) of the ITAA 1936 | 1.5 |
| Part 3, item 6 | 1.21 |
| Part 3, item 7, section 39KA of the IR & DA 1986 | 1.5, 1.13 |
| Part 4, item 8, subsection 73B(2C) of the ITAA 1936 | 1.6, 1.17 |
| Part 4, item 9 | 1.21 |
Schedule 2: Plant, etc.
| Bill reference | Paragraph number |
|---|---|
| Part 1, items 1 and 2, definition of 'plant expenditure' in subsection 73B(1) | 2.9 |
| Part 1, item 2 | 2.37 |
| Part 2, item 3 | 2.38 |
| Part 2, item 3, section 118-24A of the ITAA 1997 | 2.10 |
| Part 3, items 4, 5 and 7 to 10, definitions of 'aggregate research and development amount', 'excluded plant expenditure' and 'research and development expenditure' in subsections 73B(1), 73B(15AAA) and (15AAAA) | 2.4 |
| Part 3, item 5 | 2.10 |
| Part 3, items 11 and 54, subsections 73BD(1) to (11) and 73BK(1) to (11) | 2.36 |
| Part 3, items 11 and 54, sections 73BE and 73BL | 2.36 |
| Part 3, item 11, section 73BH | 2.5 |
| Part 3, item 11, subsection 73BH(2) | 2.14 |
| Part 3, items 11, 40 and 41, subsections 73BH(3) and (4) of the ITAA 1936 and subsections 42-365(2) and 42-455(4) of the ITAA 1997 | 2.13 |
| Part 3, item 11, subsection 73BH(5) and paragraph 73BI(1)(a) | 2.11 |
| Part 3, item 11, subsection 73BH(6) | 2.15 |
| Part 3, item 11, section 73BI | 2.5 |
| Part 3, item 11, paragraph 73BI(1)(b) | 2.11 |
| Part 3, item 11, subsection 73BI(2) | 2.11 |
| Part 3, item 11, section 73BJ | 2.5 |
| Part 3, item 11, subsection 73BJ(2) | 2.12 |
| Part 3, items 11 and 33, subsection 73BJ(3) of the ITAA 1936 and subsection 42-25(4) of the ITAA 1997 | 2.12 |
| Part 3, item 11, subsections 73BJ(4) and (5) | 2.12 |
| Part 3, item 11, section 73BL | 2.5 |
| Part 3, item 11, section 73BM | 2.7 |
| Part 3, item 11, subsection 73BM(1) | 2.18 |
| Part 3, item 11, subsections 73BM(2) and (3) | 2.19 |
| Part 3, item 11, subsections 73BM(4) to (6) | 2.21 |
| Part 3, item 11, section 73BN | 2.5 |
| Part 3, item 11, paragraph 73BN(2)(a) | 2.16 |
| Part 3, item 11, paragraph 73BN(2)(b) | 2.17 |
| Part 3, items 19 and 61, sections 73EA and 73EB | 2.8 |
| Part 3, items 19 and 61, subsections 73EA(1) and (2), 73EB(1) and (2) | 2.33 |
| Part 3, items 19 and 61, subsections 73EA(3) to (5) and 73EB(3) to (5) | 2.34 |
| Part 3, items 19 and 61, subsections 73EA(6) to (9) and 73EB(6) to (9) | 2.35 |
| Part 3, item 39, section 42-220A of the ITAA 1997 | 2.20 |
| Part 3, item 51 | 2.39 |
| Part 3, item 54, sections 73BA to 73BC, 73BE and 73BG | 2.6 |
| Part 3, item 54, subsection 73BA(2) | 2.25 |
| Part 3, items 54, 80 and 84, subsections 73BA(3) and (4) of the ITAA 1936 and subsections 40-425(8) and 328-175(9) of the ITAA 1997 | 2.24 |
| Part 3, item 54, subsection 73BA(5) | 2.22 |
| Part 3, item 54, subsection 73BA(6) | 2.26 |
| Part 3, item 54, paragraphs 73BB(1)(a) to (c) | 2.22 |
| Part 3, item 54, subsections 73BC(2) to (5) of the ITAA 1936 | 2.23 |
| Part 3, item 54, section 73BF | 2.7 |
| Part 3, item 54, subsection 73BF(1) | 2.29 |
| Part 3, item 54, subsections 73BF(2) and (3) | 2.30 |
| Part 3, item 54, subsections 73BF(4) to (6) | 2.32 |
| Part 3, item 54, paragraph 73BG(2)(a) | 2.27 |
| Part 3, item 54, paragraph 73BG(2)(b) | 2.28 |
| Part 3, item 75, subsection 40-65(6) of the ITAA 1997 | 2.23 |
| Part 3, item 79, section 40-292 of the ITAA 1997 | 2.31 |
| Part 3, item 92 | 2.40 |
Schedule 3: Refundable tax offset
| Bill reference | Paragraph number |
|---|---|
| Item 1 | 4.36 |
| Item 2, subsections 73B(14AA) and (14AB) | 3.27 |
| Item 2, paragraphs 73B(14AC)(a) and (b) | 3.28 |
| Item 2, subsection 73B(14AC) | 4.10 |
| Items 3, 4, 6, 9 and 10 | 3.31 |
| Item 5, section 73H | 3.30 |
| Item 5, subsection 73H(2) | 3.13 |
| Item 5, section 73I | 3.4, 3.7, 4.8 |
| Item 5, subsection 73I(3) | 3.8 |
| Item 5, subsection 73J(1) | 3.5, 3.9 |
| Item 5, subsection 73J(2) | 3.6, 3.10 |
| Item 5, subsection 73K(1) | 3.11 |
| Item 5, subsection 73K(2) | 3.15 |
| Item 5, subsection 73K(3) | 3.16 |
| Item 5, section 73L | 4.7, 4.10, 4.13, 4.14 |
| Item 5, subsection 73L(1) | 3.17 |
| Item 5, subsection 73L(2) | 3.26 |
| Item 5, subsection 73L(3) | 3.21 |
| Item 5, paragraph 73L(4)(a) | 3.22 |
| Item 5, paragraphs 73L(4)(b) and (c) | 3.23 |
| Item 5, subsection 73L(5) | 3.24 |
| Item 5, subsection 73L(6) | 3.25 |
| Item 5, subsection 73M(1) | 3.19 |
| Item 5, subsection 73M(2) | 3.20 |
| Items 7 and 8 | 3.32 |
| Items 11 and 12 | 3.33 |
| Items 13 to 18 | 3.34 |
| Item 19 | 3.29 |
Schedule 4: Incremental tax incentive
| Bill reference | Paragraph number |
|---|---|
| Items 1 to 4 | 4.35 |
| Item 5, definition of 'incremental expenditure' in subsection 73P(2) | 4.9 |
| Item 5, definition of 'R & D spend' in subsection 73P(2) | 4.23 |
| Item 5, subsections 73P(3) and (4) | 4.9 |
| Item 5, section 73P(5) | 4.10 |
| Item 5, paragraph 73Q(1)(a) | 4.4, 4.11 |
| Item 5, paragraph 73Q(1)(b) | 4.5 |
| Item 5, paragraph 73Q(1)(b) | 4.12 |
| Item 5, subsection 73Q(2) | 4.5, 4.13 |
| Item 5, section 73R | 4.7 |
| Item 5, subsection 73R(1) | 4.14 |
| Item 5, subsection 73R(2) | 4.15 |
| Item 5, subsections 73R(3) and (4) | 4.20 |
| Item 5, subsections 73R(5) and (6) | 4.21 |
| Item 5, section 73S | 4.6, 4.22, 4.26, 4.29 |
| Item 5, sections 73T to 73W | 4.6, 4.22 |
| Item 5, subsections 73T(1) and (2) | 4.25 |
| Item 5, subsections 73T(3) and (4) | 4.26 |
| Item 5, subsections 73U(1) and (2) | 4.28 |
| Item 5, section 73V | 4.29 |
| Item 5, section 73W | 4.30 |
| Item 5, section 73X | 4.7, 4.22, 4.31 |
| Item 5, section 73Y | 4.6, 4.22, 4.32 |
| Item 5, section 73Z | 4.33 |
| Items 6 to 8 | 3.32, 4.36 |
| Item 9 | 3.32 |
| Item 10 | 3.35 |
| Item 11 | 4.34 |
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