House of Representatives

New Business Tax System (Consolidation and Other Measures) (No. 2) Bill 2002

New Business Tax System (Venture Capital Deficit Tax) Bill 2003

Explanatory Memorandum

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

Index

New Business Tax System (Consolidation and Other Measures) Bill (No. 2) 2002

Clauses

Bill reference Paragraph number
Clause 2 13.26

Schedule 1: Consolidation: amendments of various cost base provisions

Bill reference Paragraph number
Items 1 and 2, subsections 705-155(2) and (3) and section 705-230 5.56
Item 1, subsection 705-155(4) 5.57
Item 1, subsection 705-155(5) 5.58
Item 1, subsection 705-155(6) 5.59
Item 3 5.117
Item 4, subsection 705-90(3) 5.115
Items 5 to 8 5.117
Items 9 and 10, subsections 705-160(1) and 705-235(1) 5.62
Items 9 and 10, subsections 705-160(2) and 705-235(2) 5.67
Items 9 and 10, subsections 705-160(3) and 705-235(3) 5.68
Items 9 and 10, paragraphs 705-160(2)(a) and (b) and 705-235(2)(a) 5.66
Items 9 and 10, subsections 705-160(4) and 705-235(4) 5.70
Items 9 and 10, subsections 705-160(5) and 705-235(5) 5.71
Items 9 and 10, paragraphs 705-160(4)(a), (b) and (c) and 705-235(4)(a) and (b) 5.69
Item 11, section 705-60, item 3A in the table 5.46
Item 12 5.52
Item 13 5.138
Item 14, subsection 705-93(1) 5.46
Item 14, subsection 705-93(2) 5.47
Items 15 and 22, subsections 705-147(2) and (5) and 705-227(2) and (5) 5.51
Items 15 and 22, subsections 705-147(3) and 705-227(3) 5.50
Items 16 to 20, section 705-150 5.52
Item 21 5.138
Item 23, subsection 701-25(4) 5.101
Item 24, subsection 701-45(3) 5.96
Item 25, subparagraph 701-75(3)(a)(ii) 5.101
Item 26, subsections 705-150(3) and (4) 5.97
Item 27, subsections 701-30(1) and (2) 5.89
Items 28 and 29, paragraph 701-20(5)(c) 5.73
Items 30 to 36, sections 701-5, 701-15, 701-20 and 701-25 5.102

Schedule 2: Consolidation: beneficial ownership

Bill reference Paragraph number
Item 1, section 703-33 12.12

Schedule 3: Consolidation: technical amendment of membership rules

Bill reference Paragraph number
Item 1, subparagraph 703-50(3)(b)(i) 12.25

Schedule 4: Consolidation: adjustments for errors etc

Bill reference Paragraph number
Item 1, section 705-245 5.112
Item 2, section 705-305 5.18, 5.22
Item 2, section 705-310 5.27
Item 2, subsections 705-315(1) and 705-320(1) 5.23
Item 2, subsection 705-315(2) 5.19
Item 2, subsection 705-315(3) 5.19
Item 2, subsection 705-315(4) 5.19
Item 2, subsection 705-315(5) 5.19
Item 2, subsection 705-315(6) 5.34
Item 2, subsection 705-320(2) 5.25
Items 3 and 5, sections 104-5 and 110-10 5.113
Item 4, subsection 104-525(1) 5.28
Item 4, subsection 104-525(2) 5.29
Item 4, subsections 104-525(3) and (4) 5.30
Item 4, subsections 104-525(5) and (6) 5.33
Item 4, subsection 104-530(1) 5.37
Item 4, subsection 104-530(2) 5.40
Item 4, subsection 104-530(3) 5.38
Item 4, subsections 104-530(4) and (5) 5.39
Items 6 and 7, subsection 995-1(1) 5.114
Items 8, 9 and 10, subsection 8W(1C) and subsections 284-80(2) and 284-150(3) of Schedule 1 to the TAA 1953 5.109, 5.110

Schedule 6: Consolidation: life insurance companies

Bill reference Paragraph number
Item 1, section 713-500 1.9
Item 1, section 713-505 1.11
Item 1, subsection 713-510(2) 1.23
Item 1, paragraph 713-515(1)(a) 1.34
Item 1, paragraph 713-515(1)(b) 1.39
Item 1, paragraph 713-515(1)(c) 1.48
Item 1, paragraph 713-515(2)(a) 1.36, 1.43
Item 1, paragraph 713-515(2)(b) 1.37, 1.44
Item 1, subsection 713-515(3) 1.49
Item 1, subsections 713-520(2) and (3) 1.35
Item 1, subsections 713-520(4) and (5) 1.51
Item 1, subsection 713-520(6) 1.40, 1.45
Item 1, section 713-530 1.57
Items 1 to 3, section 713-525; notes to subsections 320-175(1) and 320-230(1) 1.31
Items 1 and 5, subsection 713-510(1); note to section 703-20 1.21
Items 1 and 8, subsection 713-515(4) and the definition of 'net investment component of ordinary non-participating life insurance policies' in subsection 995-1(1) 1.38
Items 4, 6, 7 and 9, definition of 'retained cost base asset' in subsection 995-1(1), notes to section 701-60 and subsections 705-25(5) and 705-70(1) 1.27
Item 10, section 713-500 of the IT(TP) Act 1997 1.59
Item 10, subsection 713-505(1) of the IT(TP) Act 1997 1.62
Item 10, subsection 713-505(2) of the IT(TP) Act 1997 1.65
Item 10, subsection 713-505(3) of the IT(TP) Act 1997 1.66
Item 10, subsection 713-505(4) of the IT(TP) Act 1997 1.67
Item 10, subsection 713-510(1) of the IT(TP) Act 1997 1.84
Item 10, section 713-515 of the IT(TP) Act 1997 1.68, 1.86
Item 10, subsection 713-520(1) of the IT(TP) Act 1997 1.64
Item 10, paragraph 713-520(1)(a) of the IT(TP) Act 1997 1.63
Item 10, subsection 713-520(2) of the IT(TP) Act 1997 1.64, 1.85
Item 10, subsection 713-520(3) of the IT(TP) Act 1997 1.70, 1.87
Item 10, section 713-525 of the IT(TP) Act 1997 1.71, 1.88
Item 10, paragraph 713-530(1)(a) of the IT(TP) Act 1997 1.73
Item 10, paragraph 713-530(1)(b) of the IT(TP) Act 1997 1.75
Item 10, subsection 713-530(2) of the IT(TP) Act 1997 1.89
Item 10, subsection 713-535(1) of the IT(TP) Act 1997 1.79, 1.93
Item 10, subsection 713-535(2) of the IT(TP) Act 1997 1.74
Item 10, subsection 713-535(3) of the IT(TP) Act 1997 1.76
Item 10, subsection 713-535(4) of the IT(TP) Act 1997 1.77
Item 10, subsection 713-535(5) of the IT(TP) Act 1997 1.91
Item 10, section 713-540 of the IT(TP) Act 1997 1.80
Item 10, section 713-545 of the IT(TP) Act 1997 1.78, 1.92
Item 11, subsection 286-75(4) of Schedule 1 to the TAA 1953 1.81
Item 11, paragraph 286-80(2)(c) of Schedule 1 to the TAA 1953 1.82

Schedule 7: Consolidation: interactions between Consolidation rules and other rules

Bill reference Paragraph number
Item 1, Subdivision 715-D Table 11.1
Item 1, paragraph 715-15(1)(a), sections 715-50, 715-55 and 715-60 Table 11.1
Item 1, paragraph 715-15(1)(b) 11.37
Item 1, paragraph 715-15(1)(b), sections 715-50 and 715-55 Table 11.1
Item 1, paragraph 715-15(1)(c), sections 715-50, 715-55 and 715-70 Table 11.1
Item 1, section 715-25 11.12
Item 1, section 715-30 11.17
Item 1, paragraphs 715-30(d) and (e) 11.18
Item 1, section 715-35 11.16
Item 1, section 715-50 Diagram 11.1
Item 1, sections 715-50 and 715-55, Subdivision 715-D Table 11.1
Item 1, paragraphs 715-50(1)(d), 715-55(1)(d), 715-60(1)(d) and 715-70(2)(c) 11.11
Item 1, subsections 715-50(3) and 715-55(3) 11.23
Item 1, subsections 715-50(3), 715-55(3) and 715-70(1) 11.35
Item 1, section 715-55 Diagram 11.1
Item 1, section 715-60 Diagram 11.1
Item 1, subsection 715-60(1) 11.26
Item 1, subsection 715-60(2) 11.27
Item 1, section 715-70 11.32
Item 1, section 715-80 11.45
Item 1, section 715-85 11.48, 11.59
Item 1, subsection 715-90(2) 11.61
Item 1, subsections 715-95(1) and (3) 11.46
Item 1, subsection 715-95(2) and paragraph 715-120(3)(b) 11.42
Item 1, subsection 715-95(3), sections 715-100, 715-105 and 715-110 11.49
Item 1, subsections 715-120(1) and (3), sections 715-125, 715-130 and 715-135 11.56
Item 1, subsection 715-130(5), sections 715-155 and 715-165 11.66
Item 1, subsections 715-145(1) to (3) 11.50
Item 1, subsection 715-145(4) 11.52
Item 1, section 715-160 11.65, 11.66
Item 1, sections 715-175 and 715-180 11.53
Item 1, section 715-185 11.55
Item 1, section 715-215 11.101
Item 1, section 715-225 11.111
Item 1, section 715-230 11.95
Item 1, section 715-245 Table 11.2
Item 1, section 715-250 Table 11.2
Item 1, subsections 715-255(2) and 715-270(6) Table 11.3
Item 1, subsections 715-255(3) and 715-270(7) Table 11.3
Item 1, subsections 715-255(4), 715-255(5), 715-270(8) and 715-270(9) 11.92
Item 1, section 715-260 Table 11.2
Item 1, section 715-270 Table 11.2
Item 1, section 715-290 11.48, 11.59, 11.93
Item 1, subsection 715-310(1) 11.68
Item 1, subsection 715-310(2) 11.69
Item 1, section 715-355 11.71
Item 1, section 715-360 11.71
Item 1, section 715-365 11.72
Item 1, section 715-410 11.101
Item 1, section 715-450 11.95
Item 1, section 715-610 11.153
Item 1, subsection 715-610(1) 11.154
Item 1, subsection 715-610(2) and section 715-615 11.156
Item 1, section 715-620 11.165
Item 2, section 715-75 11.74
Item 2, section 719-700 11.78
Item 2, subsection 719-700(2) 11.80
Item 2, subsections 719-705(1) to (3) 11.78
Item 2, section 719-720 11.116
Item 2, subsection 719-720(2) 11.118
Item 2, subsections 719-725(1) to (3) 11.116
Item 2, subsections 719-725(4) 11.116
Item 2, sections 719-730 and 719-735 11.119
Item 2, subsection 719-735(2) 11.123
Item 2, subsection 719-755(3) 11.142
Item 2, section 719-755 11.136
Item 2, section 719-775 11.153
Item 2, subsection 719-775(1) 11.154
Item 2, sections 719-780, 719-785 and 719-790 11.156
Item 2, section 719-795 11.165
Item 7 11.174
Items 14 to item 29 11.175
Item 15, subsection 995-1(1) 11.17
Item 21, subsection 995-1(1) 11.16
Items 22 and 23, subsection 995-1(1) 11.27

Schedule 8: Consolidation: various provisions about CFCs, FIFs and FLPs

Bill reference Paragraph number
Item 2, section 717-227 7.77
Item 3, subsection 717-230(4) 7.83
Item 3, subsection 717-230(5) and item 8, subsection 717-265(6) 7.86
Item 7, section 717-262 7.79
Item 7, subsection 717-262(3) 7.80
Item 7, subsection 717-262(4) 7.81
Item 8, subsection 717-265(5) 7.85
Item 9, section 717-285 7.67
Item 9, section 717-290 7.72
Item 9, section 717-310 7.69
Item 9, section 717-315 7.73

Schedule 9: Consolidation: foreign dividend accounts

Bill reference Paragraph number
Item 1, subsection 177EB(11) 9.55
Item 1, Subdivision 717-J 7.14
Item 1, section 717-510 7.15
Item 1, subsection 717-520(2) 7.32, 7.33
Item 1, paragraph 717-510(2)(a) 7.17
Item 1, paragraph 717-510(2)(b) 7.17
Item 1, subsection 717-510(3) 7.18
Item 1, subsection 717-510(4) 7.21
Item 1, subparagraph 717-510(4)(a)(ii) 7.22
Item 1, section 717-515 7.27, 7.28
Item 1, note 1(b) to section 717-515 7.29
Item 1, note 2 to section 717-515 7.31
Item 1, subsection 717-520(4) 7.33
Item 1, subsection 717-520(6) 7.39, 7.40, 7.41
Item 1, subsection 717-525(2) 7.35
Item 1, subsection 717-525(3) 7.37
Item 1, subsections 717-525(5) and (6) 7.41
Item 1, section 717-530 7.42
Item 2, section 709-90 9.54
Item 2, section 719-900 7.45
Item 2, subsection 719-900(3) 7.47
Item 2, section 719-905 7.49
Items 3 to 11 7.51
Item 4, section 709-150 9.16
Item 4, subsection 709-155(1) 9.18
Item 4, subsection 709-155(2) 9.19
Item 4, subsection 709-155(3) 9.20
Item 4, subsection 709-155(4) 9.21
Item 4, section 709-160 9.23
Item 4, subsection 709-160(2) 9.25, 9.26
Item 4, subsection 709-160(2), item 1 in the table Table 9.1
Item 4, subsection 709-160(2), item 2 in the table Table 9.1
Item 4, subsection 709-160(2), item 3 in the table Table 9.1
Item 4, subsection 709-160(2), item 4 in the table Table 9.1
Item 4, section 709-165 9.28
Item 4, subsection 709-165(2) 9.29, 9.30, 9.31, 9.32
Item 4, subsection 709-165(2), item 1 in the table Table 9.1
Item 4, subsection 709-165(2), item 2 in the table Table 9.1
Item 4, subsection 709-165(2), item 3 in the table Table 9.1
Item 4, subsection 709-165(2), item 4 in the table Table 9.1
Item 4, subsection 709-165(2), item 5 in the table Table 9.1
Item 4, section 709-170 9.34, Table 9.1
Item 4, subsections 709-175(1) and (2) 9.36
Item 4, subsection 709-175(2) 9.37, 9.38
Item 4, subsection 709-175(2), item 1 in the table Table 9.1
Item 4, subsection 709-175(2), item 2 in the table Table 9.1
Item 4, subsections 709-175(3) and (4) 9.40
Item 4, subsection 709-175(4) 9.41, 9.42, 9.43
Item 4, subsection 709-175(4), item 1 in the table Table 9.1
Item 4, subsection 709-175(4), item 2 in the table Table 9.1
Item 4, subsection 709-175(4), item 3 in the table Table 9.1
Item 4, subsection 709-175(4), item 4 in the table Table 9.1
Item 4, subsection 709-175(5) 9.44, Table 9.1
Item 5, section 709-90 9.47
Item 5, section 719-425 9.48
Item 5, subsection 719-430(1) 9.49
Item 5, paragraph 719-430(2)(a) 9.50
Item 5, paragraph 719-430(2)(b) 9.50
Item 5, paragraph 719-430(2)(c) 9.50
Item 5, subsection 719-435(1) 9.52
Item 5, subsection 719-435(2) 9.53
Item 12 7.99
Item 13, paragraph 703-75(3)(d) 7.44
Items 15 to 20 7.103
Subitems 12(2) and 12(3) 7.100
Subitems 12(2)(b) and 12(3) 7.101

Schedule 10: Consolidation: offshore banking units

Bill reference Paragraph number
Item 2, section 717-710 7.58
Item 2, subsection 717-710(1) 7.59, 7.60

Schedule 11: Consolidation: application of rules to MEC groups

Bill reference Paragraph number
Item 4, section 719-2 2.11
Item 1, subsection 719-2(1) 2.8
Item 1, subsection 719-2(2) 2.9
Item 1, subsection 719-2(3) 2.8
Items 2 and 3, subsection 995-1(1), note 1 to definitions 'consolidated group' and 'MEC group' 2.10
Items 2 and 3, subsection 995-1(1), note 2 to definitions 'consolidated group' and 'MEC group' 2.13
Item 4, section 719-5 2.12

Schedule 12: Consolidation: MEC group cost setting rules

Bill reference Paragraph number
Items 1, 2 and 3, subsection 719-155(1), section 719-155, subsection 719-160(1) and section 719-165 2.21
Item 4, section 719-170 2.15
Item 4, subsection 719-170(2) 2.17, 2.18

Schedule 13: Consolidation: MEC groups and losses

Bill reference Paragraph number
Item 1, subsection 719-255(1) 3.44
Item 1, subsection 719-255(2) 3.48, 3.112
Item 1, subsection 719-260(1) 3.120
Item 1, subsections 719-260(1) and (2) 3.24
Item 1, subsection 719-260(2) 3.115, 3.121
Item 1, paragraph 719-260(2)(a) 3.122, 3.124
Item 1, paragraph 719-260(2)(b) 3.123
Item 1, subparagraph 719-260(2)(b)(ii) 3.124
Item 1, subsection 719-260(3) 3.125
Item 1, paragraph 719-260(4)(a) 3.127
Item 1, paragraph 719-260(4)(b) 3.128
Item 1, paragraph 719-265(1)(a) 3.51
Item 1, paragraph 719-265(1)(b), item 1 in the table 3.66
Item 1, paragraph 719-265(1)(b), subsection 719-265(2), item 2 in the table 3.64
Item 1, subsection 719-265(2) Example 3.11
Item 1, subsection 719-265(2), item 1 in the table 3.65
Item 1, subsection 719-265(2) item 2 in the table Examples 3.1, 3.9, 3.10, 3.11 and 3.12
Item 1, subsections 719-265(2) and (4) Examples 3.9, 3.10 and 3.12
Item 1, subsection 719-265(3) Example 3.11
Item 1, subsection 719-265(3), item 1 in the table 3.54; Example 3.11
Item 1, subsection 719-265(3), item 2 in the table 3.55
Item 1, subsection 719-265(4), item 1 in the table 3.58; Example 3.12
Item 1, subsection 719-265(4), item 2 in the table 3.56
Item 1, subsection 719-265(4), item 3 in the table 3.57, 3.59, 3.64; Examples 3.1, 3.9 and 3.10
Item 1, subsection 719-265(5) 3.63
Item 1, subsections 719-265(6) and (7) 3.132
Item 1, subsection 719-265(7) 3.133
Item 1, subsection 719-270(1) 3.69
Item 1, subsection 719-270(1), item 1 in the table 3.76
Item 1, subsection 719-270(1), item 2 in the table 3.77
Item 1, subsection 719-270(2) 3.69
Item 1, subsection 719-270(2), item 1 in the table 3.85
Item 1, subsection 719-270(2), item 2 in the table 3.86
Item 1, subsection 719-270(3) 3.135
Item 1, subsection 719-270(4) 3.69
Item 1, subsection 719-270(4), item 1 in the table 3.82; Example 3.1
Item 1, subsection 719-270(4), item 2 in the table 3.83
Item 1, subsection 719-270(4), item 3 in the table 3.78
Item 1, subsection 719-270(5) 3.135
Item 1, subsection 719-270(6) 3.71, 3.74
Item 1, subsection 719-275(1) 3.92
Item 1, subsection 719-275(2) 3.90
Item 1, subsection 719-275(2), item 1 in the table 3.94
Item 1, subsection 719-275(2), item 2 in the table 3.97
Item 1, subsection 719-275(2), item 3 in the table 3.102
Item 1, subsection 719-275(2), item 4 in the table 3.106
Item 1, subsection 719-275(2), item 5 in the table 3.111
Item 1, subsection 719-275(3) 3.104, 3.109
Item 1, subsection 719-275(4) 3.137
Item 1, subsections 719-280(1) to (4) 3.114
Item 1, subsection 719-280(5) 3.115
Item 1, section 719-285 3.139
Item 2, definition of 'COT transfer' in paragraph 707-210(1A)(a) 3.34
Item 2, definition of 'COT transfer' in paragraph 707-210(1A)(b) 3.35
Item 2, subsection 707-210(1) 3.144
Item 3, paragraph 707-210(3)(b) 3.144
Items 4 and 5 3.143

Schedule 14: Consolidation: liability rules

Bill reference Paragraph number
Item 1, section 709-95 10.12
Item 1, section 709-100 10.13
Item 2, subsection 721-10(2), item 60 in the table 10.15
Item 2, subsection 721-10(2), item 65 in the table 10.16
Item 3, subsection 721-15(5A) 10.20
Item 4, section 721-17 10.21
Items 5 and 6, subsection 721-30(5A) and section 721-32 10.22
Item 7, subsection 721-40(1) 10.24
Item 7, subsection 721-40(2) 10.25
Item 7, subsection 721-40(3) 10.26
Item 7, subsection 721-40(4) 10.27
Item 7, subsection 721-40(5) 10.28
Items 8 and 9, subsection 250-10(1) note 2 10.30
Item 10, subsection 250-10(2), item 39 in the table 10.31
Items 11 and 12, subsection 250-10(2) note 2 10.32

Schedule 16: Consolidation: transitional foreign-held membership structures

Bill reference Paragraph number
Item 1 4.57
Item 2, column 4 in the table in subsection 703-15(2) 4.57
Item 2, section 703-45 4.8, 4.57
Items 3 and 4 4.58
Item 5, paragraphs 701C-10(8)(a) to (c) 4.19
Item 5, paragraphs 701C-10(8)(d) and (e) 4.20
Item 5, paragraphs 701C-20(a) to (c) 4.30
Item 5, paragraph 701C-20(d) 4.31
Item 5, section 701C-30 4.41
Item 5, section 701C-30, note 1(b) 4.42
Item 5, section 701C-30, note 1(c) 4.42
Item 5, section 701C-35 4.45
Item 5, section 701C-40 4.52
Item 5, section 701C-50 4.59
Item 5, subsection 701C-10(6) 4.15
Item 5, subsection 701C-10(7) 4.17
Item 5, subsection 701C-15(4) 4.26
Item 5, subsection 701C-25(2) 4.39
Item 5, subsections 701C-10(1) to (5) 4.12
Item 5, subsections 701C-15(1) to (3) 4.25

Schedule 17: Consolidation: transitional cost setting rule relating to roll-overs

Bill reference Paragraph number
Items 1 and 2, subsections 701-35(1) and 701-35(2) 5.103
Item 2, subsection 701-35(3) 5.83
Item 2, paragraph 701-35(3)(a) 5.85
Item 2, paragraph 701-35(3)(b) 5.86
Item 2, paragraph 701-35(3)(c) 5.87
Items 2 and 3, paragraph 701-35(3)(c) and section 719-163 5.89

Schedule 18: Consolidation: extra transitional provision for foreign tax credits

Bill reference Paragraph number
Item 1 7.87
Item 1, subitem 11(2) of Schedule 10 of the June Consolidation Act 7.88

Schedule 19: Consolidation: amendment of losses rules

Bill reference Paragraph number
Item 1, subsection 701-30(3A) 6.13, 6.19; Example 6.1
Item 1, paragraph 701-30(3A)(a) 6.17
Item 1, subparagraph 701-30(3A)(b)(i) 6.17
Item 1, subparagraph 701-30(3A)(b)(ii) 6.17
Item 2 6.29
Item 2, subsection 701-30(8) 6.22, 6.28
Item 2, subsection 701-30(9) 6.23
Item 2, subsections 701-30(8) and (9) 6.31
Item 3 6.29
Item 4, subsections 707-326(1) and (2) 6.49
Item 4, paragraph 707-326(1)(b) 6.39
Item 4, subsection 707-326(3) 6.51
Item 4, subsection 707-326(4) 6.51
Item 4, subsection 707-326(5) 6.52
Item 5, subsection 707-328A(1) 6.40
Item 5, paragraph 707-328A(1)(a) and subsection 707-328A(2) 6.44
Item 5, paragraph 707-328A(1)(b) 6.44
Item 5, paragraph 707-328A(1)(c) 6.44
Item 5, paragraph 707-328A(1)(d) 6.42
Item 5, paragraph 707-328A(1)(d) 6.44
Item 5, subsection 707-328A(3) 6.40
Item 5, subsection 707-328A(4) 6.42
Item 5, subsection 707-328A(5) 6.48
Item 5, subsection 707-328A(6) 6.39, 6.48
Item 5, subsection 707-328A(7) 6.46
Item 6, subitem 39(10) of the May Consolidation Act 6.28
Item 7 6.55

Schedule 20: Consolidation: transfers of losses involving financial corporations

Bill reference Paragraph number
Item 1, subsection 20(1A) and item 2, subsection 20(1A) 6.60
Item 3, paragraph 26C(3)(c) 6.67
Item 3, subsections 26C(2) and (3) 6.66
Item 4, subsection 170-5(5) 6.61
Item 5, subsection 170-75(1) 6.62
Item 5, subsection 170-75(2) 6.65
Item 5, paragraph 170-75(2)(b) 6.64
Item 5, subsection 170-75(3) 6.63
Item 7, subsection 170-175(1) 6.62
Item 7, subsection 170-175(2) 6.65
Item 7, paragraph 170-175(2)(b) 6.64
Item 7, subsection 170-175(3) 6.63

Schedule 21: Consolidation: CGT events relating to various cost base provisions

Bill reference Paragraph number
Item 1 5.139
Items 2 and 4 5.140
Item 3, subsection 104-505(1) 5.124
Item 3, subsection 104-505(2) 5.125
Item 3, subsection 104-505(3) 5.124
Item 3, section 104-510 5.128
Item 3, subsection 104-510(2) 5.129
Item 3, subsection 104-515(1) 5.132
Item 3, subsection 104-515(2) 5.134, 5.138
Item 3, subsection 104-515(3) 5.133
Item 3, subsection 104-520(1) 5.136
Item 3, subsection 104-520(3) 5.137
Items 5 to 7 5.141

Schedule 22: Consolidation: thin capitalisation

Bill reference Paragraph number
Item 1, subparagraph 820-599(2)(c)(iv) 7.92, 7.96
Item 1, subparagraphs 820-599(2)(c)(v) 7.96

Schedule 23: Consolidation: research and development

Bill reference Paragraph number
Items 1, 2, 6 and 12, subsections 73B(23), (24B) and 73BF(1) of the ITAA 1936 and section 40-292 of the ITAA 1997 12.42
Item 3, subsection 73BAG(1) of the ITAA 1936 12.30
Item 3, subsection 73BAG(2) of the ITAA 1936 12.38
Items 4, 7, 10 and 11, paragraph 73BF(1)(b) and subsection 73BF(2) of the ITAA 1936 and paragraphs 40-292(1)(b) and (3)(b) of the ITAA 1997 12.41
Item 4, subparagraph 73BF(1)(b)(i) of the ITAA 1936 12.43
Item 8, subsection 73BF(3A) of the ITAA 1936 12.35
Item 8, subsection 73BF(3B) of the ITAA 1936 12.34
Item 9, subsection 73BF(7) 12.47
Item 13, subsection 701-55(2) of the ITAA 1997 12.44
Item 14, paragraph 286-80(2)(b) of Schedule 1 to the TAA 1953 12.45

Schedule 24: Pay as you go (PAYG) instalments

Bill reference Paragraph number
Item 1, subsection 45-120(2A) 8.86
Item 5, section 45-705 8.28
Item 5, subsection 45-705(1) 8.29
Item 5, subsection 45-705(2) 8.30
Item 5, subsection 45-705(3) 8.39
Item 5, subsection 45-705(4) 8.45
Item 5, subsection 45-705(5) 8.50
Item 5, paragraph 45-705(5)(a) 8.51
Item 5, paragraph 45-705(5)(b) 8.53
Item 5, paragraph 45-705(5)(c) 8.56
Item 5, paragraph 45-705(5)(d) 8.61
Item 5, subsection 45-705(6) 8.55
Item 5, subsection 45-705(7) 8.59
Item 5, subsection 45-705(8) 8.65
Item 5, subsection 45-705(9) 8.64
Item 7, subsection 45-740(1) 8.67
Item 7, subsection 45-740(2) 8.68
Item 7, subsection 45-740(3) 8.71
Item 7, subsection 45-740(4) 8.71
Item 7, paragraphs 45-740(3)(a), (c) and (d) 8.70
Item 7, paragraph 45-740(3)(b) 8.73
Item 7, subsection 45-740(5) 8.74
Item 7, subsection 45-740(6) 8.75
Item 7, subsection 45-740(7) 8.76
Item 7, subsection 45-740(8) 8.77
Item 9, subsection 45-775(4) 8.79, 8.80
Item 9, subsection 45-775(5) 8.79, 8.81
Item 18, Subdivision 45-S 8.111
Item 18, section 45-880 8.89
Item 18, subsection 45-880(1) 8.90
Item 18, subsection 45-880(2) 8.93, 8.94
Item 18, subsection 45-880(3) 8.96
Item 18, subsection 45-880(4) 8.97
Item 18, subsection 45-880(5) 8.94
Item 18, subsection 45-880(6) 8.92
Item 18, subsection 45-880(7) 8.99
Item 18, section 45-885 8.104
Item 18, subsections 45-885(1) and (4) 8.105
Item 18, paragraph 45-885(2)(a) 8.107
Item 18, paragraph 45-885(2)(b) 8.108
Item 18, subsection 45-885(3) 8.106
Item 18, section 45-905 8.111
Item 18, subsections 45-910(1) and (2) 8.152
Item 18, paragraph 45-910(3)(e) 8.118
Item 18, subsection 45-910(1) 8.112
Item 18, subsection 45-910(2), Table item 1 8.114
Item 18, subsection 45-910(2), Table item 2 8.115
Item 18, subsection 45-910(2), Table item 3 8.116
Item 18, subsection 45-910(2) 8.113
Item 18, subsection 45-910(3) 8.117
Item 18, paragraph 45-910(3)(h) 8.178
Item 18, section 45-913 8.118
Item 18, subsection 45-915(1) 8.123
Item 18, subsection 45-915(2) 8.124
Item 18, subsections 45-915(3) and (5) 8.132
Item 18, subsections 45-915(4) and (5) 8.140
Item 18, subsection 45-915(6) 8.144
Item 18, paragraph 45-915(6)(a) 8.145
Item 18, paragraph 45-915(6)(b) 8.146
Item 18, paragraph 45-915(6)(c) 8.147
Item 18, subsection 45-915(7) 8.150
Item 18, subsection 45-915(8) 8.149
Item 18, section 45-917 8.153
Item 18, subsection 45-920(1) 8.156
Item 18, paragraph 45-920(2)(a) 8.157
Item 18, paragraph 45-920(2)(b) 8.158
Item 18, subsection 45-920(3) 8.161
Item 18, paragraphs 45-920(3)(a), (c) and (d) 8.160
Item 18, paragraph 45-920(3)(b) 8.163
Item 18, subsection 45-920(4) 8.160
Item 18, subsections 45-920(5) 8.161
Item 18, subsection 45-920(6) 8.164
Item 18, subsection 45-920(7) 8.165
Item 18, subsection 45-920(8) 8.166
Item 18, subsection 45-920(9) 8.167
Item 18, section 45-922 8.169
Item 18, section 45-925 8.175
Item 18, subsection 45-930(1) 8.179
Item 18, subsection 45-930(2) 8.180
Item 18, section 45-935 8.182
Subitem 19(1) 8.184
Subitem 19(2) 8.183
Item 21, subsection 995-1(1), paragraph (a) of the definition of 'created' 8.36
Item 21, subsection 995-1(1), paragraph (b) of the definition of 'created' 8.52, 8.129
Item 22, subsection 995-1(1) 8.31
Item 22, subsection 995-1(1), paragraph (a) of the definition of 'initial head company instalment rate' 8.32, 8.125
Item 22, subsection 995-1(1), subparagraph (b)(i) of the definition of 'initial head company instalment rate' 8.34, 8.127
Item 22, subsection 995-1(1), subparagraph (b)(ii) of the definition of 'initial head company instalment rate' 8.35, 8.128
Item 23 8.183

Schedule 25: Value shifting

Bill reference Paragraph number
Items 1 to 3 Table in 11.172
Items 4 to 7 11.173
Item 8 Table in 11.172
Item 9 Table in 11.172
Item 10 Table in 11.172
Item 11 Table in 11.172
Item 12 11.178

Schedule 26: Loss integrity rules: global method of valuing assets

Bill reference Paragraph number
Item 1 11.171
Item 2 Table in 11.170
Item 3 Table in 11.170
Item 4 Table in 11.170
Items 5 and 6 11.171
Item 7 Table in 11.170
Item 8 11.177

Schedule 28: Venture capital franking

Bill reference Paragraph number
Item 1, subsection 202-75(4) 13.20
Item 2, subsection 204-75(4) 13.21
Item 3, sections 214-40 and 214-50 13.23
Item 3, section 214-65 13.22
Item 13, Division 214 of the IT(TP) Act 1997 13.24

Schedule 29: Consequential amendments relating to the simplified imputation system

Bill reference Paragraph number
Items 8 to 10 13.25
Item 11 13.25


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