Senate

Taxation Laws Amendment Bill (No. 6) 2001

Taxation Laws Amendment Act (No. 6) 2001

Revised Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)
This Memorandum takes account of amndments made by the House of Representatives to the bill as introduced

Index

Schedule 1: Petroleum resource rent tax

Part 1 - Sales gas

Bill reference Paragraph number
Item 1 1.10
Items 2 to 4 1.21
Item 5, paragraphs 24(1)(d) and (e) 1.13
Item 5, subsection 24(2) 1.14
Item 6 1.22
Item 7 1.23
Item 8, subsection 97(1AA) 1.18
Item 9, section 97(1AA) 1.19

Part 2 - 5 year rule

Bill reference Paragraph number
Items 10 to 12 2.9
Item 13, subsection 41(3) 2.12
Item 13, subsection 41(4) 2.13
Item 13, subsection 41(5) 2.14
Item 14 2.15
Item 15 2.16

Schedule 2: Income tax exemption for local government businesses

Bill reference Paragraph number
Item 1 3.10
Item 2, paragraph 24AT(ba) 3.8
Item 3 3.11

Schedule 3: Superannuation fund residence requirements

Bill reference Paragraph number
Item 1 4.7
Item 2 4.8, 4.9, 4.10
Item 3 4.11, 4.12
Item 4 4.13

Schedule 4: Tax relief for shareholders in listed investment companies

Bill reference Paragraph number
Item 1 5.36
Item 2 5.37
Item 3 5.38
Items 4 and 5 5.39
Items 6 and 7 5.40
Item 8 5.41
Item 9 5.42
Item 10, paragraphs 115-280(1)(a) and (b) 5.29
Item 10, paragraphs 115-280(1)(c) and (d) 5.26
Item 10, subsection 115-280(2) 5.30
Item 10, subsection 115-280(3) 5.24
Item 10, subsection 115-280(4) 5.32
Item 10, subsection 115-280(5) 5.33
Item 10, subsection 115-285(1) 5.19
Item 10, subsection 15-285(2) 5.20
Item 10, subsection 115-285(3) 5.21
Item 10, subsection 115-290(1) 5.11
Item 10, subsection 115-290(2) 5.12
Item 10, subsection 115-290(3) 5.16
Item 10, subsection 115-290(4) 5.13
Item 10, subsections 115-290(5) to (7) 5.14
Item 10, subsection 115-290(8) 5.15
Item 10, section 115-295 5.25
Items 11 and 12 5.43
Items 13 and 14 5.44
Item 15 5.35

Schedule 5: HIH rescue package

Bill reference Paragraph number
Items 1 and 6, sections 11-5 and 322-10 6.17
Items 2, 3 and 6, subsection 104-10(5) and section 322-15 6.15
Items 4 and 5 6.19
Item 6, section 322-1 6.7
Item 6, subsection 322-5(1) 6.9
Items 6 and 7, subsections 322-5(3) and 995-1(1) 6.13
Items 6 and 8, subsections 322-5(2) and 995-1(1) 6.10
Item 9 6.18
Item 9A, section 78-118 6.35, 6.37
Item 10, section 78-120 6.23
Item 11, section 188-22 6.29
Items 12 and 13, section 195-1 6.30
Item 14 6.31, 6.39

Schedule 6: Personal services income

Bill reference Paragraph number
Item 2, paragraph 87-40(2)(a) 7.14
Item 2, paragraph 87-40(2)(b) 7.12
Item 2, paragraph 87-40(2)(c) 7.12, 7.15
Item 2, paragraph 87-40(2)(d) 7.12, 7.16
Item 2, paragraph 87-40(2)(e) 7.12
Item 2, subsections 87-40(3) and (4) 7.24
Item 2, subsection 87-40(5) 7.28
Item 4, subsection 87-15(1) 7.34
Item 4, subsection 87-15(3) 7.35
Item 4, section 87-18 7.38
Item 4, subsections 87-18(1) and (3) 7.44
Item 4A, subsection 87-15(3) 7.50
Items 4B and 4C, subsection 87-15(4) 7.50
Item 6 7.46
Item 5A, subsection 87-25(2A) 7.53
Items 7 to 9 7.56
Items 10 and 15 7.58
Items 11 and 16 7.60
Items 12 to 14 7.57
Item 16A 7.66
Item 16B 7.67
Items 16C to 16K 7.70
Item 16L 7.72
Item 17 7.61
Item 18 7.63
Item 18A 7.81
Subitems 19(1) and (3) 7.82
Subitem 19(2) 7.85
Subitems 19(2A) and 2(B) 7.83

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