House of Representatives

New Business Tax System (Imputation) Bill 2002

New Business Tax System (Imputation) Act 2002

New Business Tax System (Over-franking Tax) Bill 2002

New Business Tax System (Over-franking Tax) Act 2002

New Business Tax System (Franking Deficit Tax) Bill 2002

New Business Tax System (Franking Deficit Tax) Act 2002

Explanatory Memorandum

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

Index

Schedule 1: The simplified imputation system

Bill reference Paragraph number
Bill reference Paragraph number
Item 1, section 201-5 1.48
Item 1, section 202-5 2.4
Item 1, section 202-15 2.7
Item 1, paragraphs 202-20(a) and (b) 2.10
Item 1, paragraphs 202-20(c) and (d) 2.13
Item 1, subsection 202-40(1) 2.17
Item 1, subsection 202-40(2) 2.18
Item 1, section 202-45 2.24
Item 1, paragraph 202-45(c) 2.25
Item 1, subsection 202-60(1) 2.27
Item 1, subsection 202-60(2) 2.28, 2.44
Item 1, section 202-75 2.30
Item 1, paragraph 202-75(2)(a) 2.34
Item 1, paragraph 202-75(2)(b) 2.33
Item 1, subparagraph 202-75(2)(b)(i) 2.33
Item 1, subparagraph 202-75(2)(b)(ii) 2.33
Item 1, subsections 202-80(2) and (3) 2.35
Item 1, section 202-85 2.37
Item 1, subsection 202-85(1) 2.38
Item 1, subsection 202-85(2) and (4) 2.39
Item 1, subsection 202-85(6) 2.40
Item 1, section 203-10 2.42
Item 1, subsections 203-20(1) and (2) 2.50
Item 1, section 203-30 2.60
Item 1, subsection 203-35(1) 2.45
Item 1, subsection 203-40(2) 2.56
Item 1, subsection 203-40(3) 2.57
Item 1, subsection 203-40(4) 2.58
Item 1, subsection 203-40(5) 2.59
Item 1, section 203-50 2.52
Item 1, subsection 203-50(1) 2.62, 2.67
Item 1, paragraph 203-50(2)(b) 2.64
Item 1, subsection 203-55(2) 2.69
Item 1, subsection 203-55(3) 2.68
Item 1, subsection 203-55(5) 2.71
Item 1, subsection 204-15(1) 3.13, 3.15
Item 1, subsection 204-15(2) 3.16
Item 1, subsection 204-15(4) 3.15
Item 1, subsection 204-15(5) 3.17
Item 1, subsection 204-15(6) 3.18
Item 1, subsection 204-25(1) 3.24
Item 1, subsection 204-25(2) 3.25
Item 1, subsection 204-25(3) 3.24
Item 1, subsections 204-25(4) and (5) 3.23
Item 1, subsection 204-25(6) 3.25
Item 1, subsection 204-30(1) 3.26
Item 1, subsection 204-30(2) 3.27, 3.49
Item 1, subsection 204-30(3) 3.43
Item 1, subsection 204-30(4) 3.44, 3.49
Item 1, subsection 204-30(5) 3.45
Item 1, subsection 204-30(6) 3.39
Item 1, paragraph 204-30(8)(a) 3.41
Item 1, paragraphs 204-30(8)(b) and (c) 3.41
Item 1, paragraph 204-30(8)(d) 3.41
Item 1, paragraph 204-30(8)(e) 3.41
Item 1, section 204-40 3.55
Item 1, subsection 204-40(1) 3.57
Item 1, subsection 204-50(1) 3.51
Item 1, subsection 204-50(3) 3.50
Item 1, section 204-55 3.51
Item 1, paragraphs 204-75(a) and (b) 3.63
Item 1, subsection 204-75(1) 3.59
Item 1, subsection 204-75(2) 3.60
Item 1, subsection 204-75(4) 3.62
Item 1, paragraph 204-80(1)(a) 3.64
Item 1, paragraph 204-80(1)(b) 3.64
Item 1, paragraph 204-80(1)(c) 3.64
Item 1, paragraph 204-80(1)(d) 3.64
Item 1, paragraph 204-80(1)(e) 3.64
Item 1, section 205-10 4.3
Item 1, section 205-15, items 1 and 2 in the table 4.7
Item 1, section 205-15, item 3 in the table 4.11
Item 1, section 205-15, item 4 in the table 4.11
Item 1, section 205-15, item 5 in the table 4.12
Item 1, section 205-20 4.9
Item 1, section 205-25 4.8
Item 1, section 205-30, item 1 in the table 4.15
Item 1, section 205-30, item 2 in the table 4.17
Item 1, section 205-30, item 3 in the table 4.19
Item 1, section 205-30, item 5 in the table 4.21
Item 1, section 205-30, item 6 in the table 4.22
Item 1, section 205-30, item 7 in the table 4.23
Item 1, section 205-30, item 8 in the table 4.24
Item 1, section 205-30, item 9 in the table 4.25
Item 1, section 205-35 4.18
Item 1, section 205-45 4.27, 4.29, 4.31
Item 1, section 207-15 5.19
Item 1, subsection 207-20(1) 5.17
Item 1, subsection 207-20(2) 5.17
Item 1, section 207-35 5.22
Item 1, paragraphs 207-35(2)(b), (3)(b) and (4)(b) 5.23
Item 1, paragraphs 207-35(2)(c), (3)(c) and (4)(c) 5.23
Item 1, section 207-40 5.27
Item 1, paragraph 207-40(1)(b) 5.28
Item 1, paragraph 207-40(2)(b) 5.29
Item 1, section 207-45 5.34
Item 1, subsection 207-45(1) 5.37
Item 1, section 207-50 5.30
Item 1, paragraph 207-50(1)(b) 5.31
Item 1, subsection 207-55(1) 5.32
Item 1, subsection 207-55(2) 5.33
Item 1, section 207-70 5.39
Item 1, section 207-75 5.41
Item 1, section 207-90 5.43
Item 1, section 207-110 5.45
Item 1, section 207-120 5.46
Item 1, section 207-125 5.47
Item 1, section 207-130 5.48
Item 1, section 207-135 5.49
Item 1, subsection 207-145(1) 5.51
Item 1, subsection 207-145(2) 5.52
Item 1, subsection 207-150 5.54
Item 1, subsection 207-150(5) 5.55
Item 1, section 207-155 5.56
Item 1, section 207-160 5.53

Schedule 2: Consequential amendments of Chapter 6 (the Dictionary) of the ITAA 1997

Bill reference Paragraph number
Bill reference Paragraph number
Items 1 to 45, section 995-1 of the ITAA 1997 1.5

Schedule 3: Transitional provisions dealing with the application of Part IIIAA of the ITAA 1936

Bill reference Paragraph number
Bill reference Paragraph number
Item 1, section 160AOAA 1.49
Item 2, section 201-1 1.52

Schedule 4: Transitional provisions dealing with the conversion of the franking account

Bill reference Paragraph number
Bill reference Paragraph number
Item 2, sections 205-1 and 205-5 1.52
Item 2, section 205-10 1.51

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