House of Representatives
Taxation Laws Amendment Bill (No. 6) 2003
Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)Index
Schedule 1: Medicare levy and Medicare levy surcharge low income thresholds
| Bill reference | Paragraph number |
|---|---|
| Item 1 | 1.13 |
| Item 2 | 1.12 |
| Item 3 | 1.10 |
| Item 4 | 1.7 |
| Item 5 | 1.8 |
| Item 6 | 1.8 |
| Items 7 and 8 | 1.8 |
| Items 9 to 12 | 1.16 |
| Items 13 and 14 | 1.17 |
| Item 15 | 1.18 |
Schedule 2: Value shifting: transitional exclusion for certain indirect value shifts relating mainly to services
| Bill reference | Paragraph number |
|---|---|
| Item 1, subsection 727-230(1) | 2.11, 2.13 |
| Item 1, paragraphs 727-230(1)(c) and (d) | 2.17 |
| Item 1, subsection 727-230(2) | 2.14 |
Schedule 3: Consolidation: treatment of linked assets and liabilities
| Bill reference | Paragraph number |
|---|---|
| Item 1, paragraph 104-510(1)(b) | 3.44 |
| Item 2, note 1A to subsection 705-35(1) | 3.46 |
| Item 3, section 705-58 | 3.11 |
| Item 3, subsection 705-59(1) | 3.12 |
| Item 3, subsection 705-59(2) | 3.13 |
| Item 3, paragraphs 705-59(3)(a) and (5)(a) | 3.14 |
| Item 3, paragraph 705-59(3)(b), item 1 in the table | 3.18, 3.19 |
| Item 3, paragraph 705-59(3)(b), item 2 in the table | 3.21 |
| Item 3, subsection 705-59(4) | 3.38 |
| Item 3, paragraph 705-59(5)(b), item 1 in the table | 3.25, 3.26 |
| Item 3, paragraph 705-59(5)(b), item 2 in the table | 3.28 |
| Item 3, paragraph 705-59(5)(b), item 3 in the table | 3.30 |
| Item 3, paragraph 705-59(5)(b), item 4 in the table | 3.32, 3.34 |
| Item 3, subsection 705-59(6) | 3.40 |
| Item 3, subsection 705-59(7) | 3.36 |
| Item 4, definition of 'linked assets and liabilities' in subsection 995-1(1) | 3.47 |
Schedule 4: Consolidation: partnerships
| Bill reference | Paragraph number |
|---|---|
| Item 1, subsections 713-205(1) and (2) | 3.49 |
| Item 1, subsection 713-205(3) | 3.50 |
| Item 1, section 713-210 | 3.57 |
| Item 1, subsection 713-215(1) | 3.62 |
| Item 1, subsection 713-215(2) | 3.63 |
| Item 1, subsection 713-215(3) | 3.64 |
| Item 1, subsection 713-220(1) | 3.53 |
| Item 1, paragraph 713-220(2)(a) | 3.66 |
| Item 1, paragraph 713-220(2)(b) | 3.67 |
| Item 1, paragraph 713-220(2)(c) | 3.56 |
| Item 1, subsection 713-225(1) | 3.68 |
| Item 1, subsection 713-225(2) | 3.69 |
| Item 1, subsection 713-225(3) | 3.71 |
| Item 1, subsection 713-225(4) | 3.73 |
| Item 1, subsection 713-225(5) | 3.76 |
| Item 1, subsection 713-225(6) | 3.82, 3.84 |
| Item 1, subsection 713-225(7) | 3.82 |
| Item 1, subsections 713-230(1) and (2) | 3.78 |
| Item 1, paragraph 713-230(3)(a) | 3.79 |
| Item 1, paragraph 713-230(3)(b) | 3.79 |
| Item 1, paragraphs 713-230(3)(c) and (d) | 3.79 |
| Item 1, paragraph 713-230(3)(e) | 3.79 |
| Item 1, subsection 713-235(1) | 3.91 |
| Item 1, paragraph 713-235(2)(a) | 3.92 |
| Item 1, paragraph 713-235(2)(b) | 3.91 |
| Item 1, subsection 713-235(3) | 3.93 |
| Item 1, subsection 713-240(1) | 3.95 |
| Item 1, paragraph 713-240(1)(a) | 3.96, 3.97, 3.99 |
| Item 1, paragraph 713-240(1)(b) | 3.101 |
| Item 1, subsection 713-240(2) | 3.99 |
| Item 1, subsection 713-240(4) | 3.102 |
| Item 1, paragraph 713-240(1)(c) and subsection 713-240(3) | 3.103 |
| Item 1, subsections 713-245(1) and (2) | 3.106 |
| Item 1, subsection 713-245(3) | 3.107 |
| Item 2 | 3.108 |
| Item 2, definition of 'partnership cost setting interest' in subsection 995-1(1) | 3.57 |
Schedule 5: Consolidation: transitional foreign-held membership structures
| Bill reference | Paragraph number |
|---|---|
| Item 1, subparagraphs 719-10(1)(b)(ii) and (iii) | 3.118 |
| Item 2, subsections 719-10(4) and (5) | 3.118 |
| Item 3, paragraphs 719-10(6)(c) and (d) | 3.118 |
| Item 4, note to section 701C-1 | 3.116 |
| Item 5, note to subsection 701C-10(1) | 3.116 |
| Item 6, note to subsection 701C-15(1) | 3.116 |
| Item 7, section 701C-30 | 3.125 |
| Item 8, note 2 to section 701C-30 | 3.125 |
| Item 9, section 701C-35 | 3.125 |
| Item 10, section 719-10 | 3.115 |
Schedule 6: Consolidation: application of rules to MEC groups
| Bill reference | Paragraph number |
|---|---|
| Item 1, subsection 719-2(3) of the IT(TP) Act 1997 | 3.127 |
Schedule 7: Consolidation: general application provision
| Bill reference | Paragraph number |
|---|---|
| Item 1, subsection 700-1(1) | 3.129 |
Schedule 8: Technical corrections
| Bill reference | Paragraph number |
|---|---|
| Items 1 and 2 | 3.130 |
| Item 3 | 3.131 |
Schedule 9: Release from particular liabilities in cases of serious hardship
| Bill reference | Paragraph number |
|---|---|
| Item 1 | 4.12 |
| Item 1, subsection 340-5(2) | 4.22 |
| Item 1, subsection 340-5(3) | 4.24, 4.25, 4.27 |
| Item 1, subsection 340-5(3), item 1 in the table | 4.20 |
| Item 1, subsection 340-5(3), item 2 in the table | 4.21 |
| Item 1, subsection 340-5(4) | 4.23 |
| Item 1, subsection 340-5(5) | 4.29 |
| Item 1, subsection 340-5(6) | 4.29 |
| Item 1, subsection 340-5(7) | 4.41 |
| Item 1, section 340-10 | 4.14 |
| Item 1, subsection 340-15(1) | 4.30 |
| Item 1, subsection 340-15(2) | 4.30 |
| Item 1, subsection 340-15(3) | 4.40 |
| Item 1, section 340-20 | 4.32 |
| Item 1, note in subsection 340-20(2) | 4.36 |
| Item 1, note in subsection 340-20(3) | 4.36 |
| Item 1, section 340-25 | 4.32 |
| Item 1, note in subsection 340-25(2) | 4.36 |
| Item 1, note in subsection 340-25(3) | 4.36 |
| Item 2 | 4.28 |
| Items 3 and 4 | 4.42, 4.52 |
| Items 5 and 15 | 4.12, 4.46 |
| Items 6 and 9 to 14 | 4.47 |
| Items 7, 8, 16 and 17 | 4.50 |
| Item 18 | 4.44 |
| Item 19 | 4.45 |
Schedule 10: Trans-Tasman triangular imputation
| Bill reference | Paragraph number |
|---|---|
| Item 1, section 220-20 | 5.12 |
| Item 1, subsection 220-20(1) | Table 5.1 |
| Item 1, subsection 220-20(5) | 5.13 |
| Item 1, section 220-25 | 5.10 |
| Item 1, section 220-30 | 5.11 |
| Item 1, section 220-35 | 5.14 |
| Item 1, section 220-40 | 5.15 |
| Item 1, section 220-45 | 5.16 |
| Item 1, subsection 220-50(1) | 5.17 |
| Item 1, subsection 220-50(3) | 5.19 |
| Item 1, subsection 220-50(4) | 5.18 |
| Item 1, section 220-100 | 5.20 |
| Item 1, section 220-105 | 5.22 |
| Item 1, section 220-110 | 5.25 |
| Item 1, section 220-200 | 5.26 |
| Item 1, section 220-205 | 5.27 |
| Item 1, section 220-210 | 5.28 |
| Item 1, subsections 220-215(1) to (3) | 5.29 |
| Item 1, subsection 220-220(5) | 5.30 |
| Item 1, subsection 220-300(1) | 5.32 |
| Item 1, subsection 220-300(2) | 5.33 |
| Item 1, subsection 220-300(3) | 5.34 |
| Item 1, subsection 220-300(4) | 5.35 |
| Item 1, subsection 220-300(5) | 5.36 |
| Item 1, subsection 220-300(7) | 5.37 |
| Item 1, subsection 220-300(8) | 5.39 |
| Item 1, section 220-400 | 5.40 |
| Item 1, subsections 220-400(2) and (3) | 5.43 |
| Item 1, subsection 220-400(4) | 5.44 |
| Item 1, section 220-405 | 5.45 |
| Item 1, section 220-410 | 5.46 |
| Item 1, subsection 220-500(2) | 5.51 |
| Item 1, section 220-505 | 5.50 |
| Item 1, section 220-510 | 5.53 |
| Item 1, section 220-600 | 5.56 |
| Item 1, section 220-605 | 5.57 |
| Item 1, section 220-700 | 5.47 |
| Item 1, section 220-800 | 5.58 |
| Item 2 | 5.63 |
| Item 3 | 5.63 |
| Items 4 to 11 | 5.63 |
| Item 12 | 5.64 |
| Items 13 to 16 | 5.65 |
| Items 17 to 23 | 5.66 |
| Item 24, section 220-1 | 5.67 |
| Item 24, section 220-5 | 5.68 |
| Item 24, section 220-10 | 5.69 |
| Item 24, section 220-35 | 5.70 |
| Item 24, subsection 220-501(1) | 5.71 |
| Item 24, subsections 220-501(2) and (3) | 5.73, 5.74 |
| Item 24, subsection 220-501(7) | 5.75 |
Schedule 11: GST amendments relating to compulsory third party schemes
| Bill reference | Paragraph number |
|---|---|
| Item 1, section 9-39 | 6.114 |
| Item 2, section 9-39 | 6.114 |
| Item 3, section 9-99 | 6.115 |
| Item 4, section 11-99 | 6.116 |
| Item 5, section 11-99 | 6.116 |
| Item 6, section 17-99 | 6.117 |
| Item 7, section 17-99 | 6.117 |
| Item 8, section 19-99 | 6.118 |
| Item 9, section 19-99 | 6.118 |
| Item 10, section 37-1 | 6.119 |
| Item 11, section 37-1 | 6.119 |
| Item 12, subsection 72-5(3) | 6.112 |
| Item 13, subsection 72-40(3) | 6.112 |
| Item 14, section 78-1 | 6.120 |
| Item 15, paragraph 78-50(1)(c) | 6.32 |
| Item 16, section 78-105 | 6.16 |
| Item 17 | 6.17 |
| Item 18, section 79-1 | 6.14 |
| Item 18, subsection 79-5(1) | 6.20 |
| Item 18, subsections 79-5(2) and 79-5(3) | 6.22 |
| Item 18, subsections 79-5(2) and 79-5(4) | 6.23 |
| Item 18, subsection 79-10(1) | 6.24 |
| Item 18, subsection 79-10(2) | 6.25 |
| Item 18, subsection 79-15(1) | 6.27 |
| Item 18, subsection 79-15(2) | 6.29 |
| Item 18, subsections 79-15(4) and 79-15(5) | 6.30 |
| Item 18, subsection 79-15(6) | 6.31 |
| Item 18, subsection 79-15(7) | 6.30 |
| Item 18, section 79-20 | 6.33 |
| Item 18, subsection 79-25(1) | 6.35 |
| Item 18, subsection 79-25(2) | 6.36, 6.37 |
| Item 18, subsection 79-25(3) | 6.38 |
| Item 18, section 79-30 | 6.39 |
| Item 18, subsection 79-35(1) | 6.40 |
| Item 18, subsection 79-35(2) | 6.41, 6.42 |
| Item 18, subsection 79-35(3) | 6.43 |
| Item 18, section 79-40 | 6.47 |
| Item 18, section 79-45 | 6.49 |
| Item 18, section 79-50 | 6.50 |
| Item 18, section 79-55 | 6.51 |
| Item 18, section 79-60 | 6.52 |
| Item 18, section 79-65 | 6.53 |
| Item 18, section 79-70 | 6.54 |
| Item 18, section 79-75 | 6.55 |
| Item 18, section 79-80 | 6.56 |
| Item 18, section 79-85 | 6.57 |
| Item 18, section 79-90 | 6.58 |
| Item 18, section 79-95 | 6.59 |
| Item 18, subsection 79-95(2) | 6.61, 6.62, 6.64 |
| Item 18, subsection 79-95(3) | 6.60 |
| Item 18, subsection 79-100(1) | 6.65, 6.66 |
| Item 18, subsection 79-100(2) | 6.71 |
| Item 18, subsection 79-100(3) | 6.72 |
| Item 18, subsection 79-100(4) | 6.70 |
| Item 18, subsection 79-100(5) | 6.71 |
| Item 18, subsections 79-100(6) | 6.73 |
| Item 18, subsection 79-100(7) | 6.68 |
| Item 18, section 80-1 | 6.79 |
| Item 18, section 80-5 | 6.81 |
| Item 18, subparagraph 80-5(1)(c)(i) | 6.82 |
| Item 18, subparagraph 80-5(1)(c)(ii) | 6.84 |
| Item 18, subsection 80-5(2) | 6.83 |
| Item 18, subsection 80-5(3) | 6.85 |
| Item 18, section 80-10 | 6.86 |
| Item 18, section 80-15 | 6.87 |
| Item 18, section 80-20 | 6.88, 6.89 |
| Item 18, section 80-25 | 6.90, 6.91 |
| Item 18, section 80-30 | 6.93, 6.94 |
| Item 18, section 80-35 | 6.95 |
| Item 18, section 80-40 | 6.98 |
| Item 18, subsection 80-40(1) | 6.97 |
| Item 18, section 80-45 | 6.99 |
| Item 18, section 80-50 | 6.100 |
| Item 18, section 80-55 | 6.101 |
| Item 18, sections 80-60 and 80-65 | 6.102 |
| Item 18, section 80-70 | 6.103 |
| Item 18, section 80-75 | 6.104 |
| Item 18, section 80-80 | 6.107 |
| Item 18, subsection 80-80(1) | 6.106 |
| Item 18, subsection 80-80(1) | 6.105 |
| Item 18, section 80-85 | 6.108 |
| Item 18, section 80-90 | 6.109 |
| Item 18, section 80-95 | 6.110 |
| Item 19, paragraph 188-22(a) | 6.113 |
| Item 20, section 195-1 | 6.65 |
| Item 21, section 195-1 | 6.15 |
| Item 22, section 195-1 | 6.121 |
| Item 23, section 195-1 | 6.84 |
| Item 24, section 195-1 | 6.85 |
| Item 25, section 195-1 | 6.43 |
| Item 26, section 195-1 | 6.40 |
| Item 27, section 195-1 | 6.41 |
| Item 28, section 195-1 | 6.42 |
| Item 29, section 195-1 | 6.35 |
| Item 30, section 195-1 | 6.48 |
| Item 31, section 195-1 | 6.105 |
| Item 32, section 195-1 | 6.122 |
| Item 33, section 195-1 | 6.123 |
| Item 34, section 195-1 | 6.81 |
| Item 35, section 195-1 | 6.82 |
| Item 36, section 195-1 | 6.83 |
| Item 37, section 195-1 | 6.97 |
| Item 38, section 195-1 | 6.18 |
| Item 39, section 195-1 | 6.21 |
| Item 40, section 195-1 | 6.124 |
| Item 41, section 195-1 | 6.125 |
| Item 42, section 22 | 6.126 |
| Item 43 | 6.127 |
Schedule 12: New deductible gift recipient category
| Bill reference | Paragraph number |
|---|---|
| Items 1 and 2, subsection 30-5(5) | 7.33 |
| Item 2, subsection 30-315(2) | 7.34 |
| Item 3, subsection 30-45(1) | 7.12, 7.35 |
| Item 4, Subdivision 30-EA | 7.13 |
| Item 4, section 30-287 | 7.14 |
| Item 4, section 30-288, subsection 30-289(1) | 7.25 |
| Item 4, section 30-288, subsection 30-289(2) | 7.27 |
| Item 4, section 30-288, subsection 30-289(3) | 7.28 |
| Item 4, section 30-288, subsection 30-289(4) | 7.29 |
| Item 4, section 30-288, subsection 30-289A(1) | 7.30 |
| Item 4, section 30-288, subsection 30-289A(2) | 7.31 |
| Item 4, section 30-288, subsection 30-289A(3) | 7.32 |
| Item 4 and 7, section 30-288 and definition of 'harm prevention charities' in subsection 995-1(1) | 7.21 |
| Item 4, subsection 30-289B(1) | 7.15 |
| Item 4, subsection 30-289B(2) | 7.16 |
| Item 4, subsection 30-289B(3) | 7.17 |
| Item 4, subsection 30-289B(4) | 7.18 |
| Item 4, subsection 30-289C(1) | 7.19 |
| Item 4, subsection 30-289C(2) | 7.20 |
| Item 6, definition of 'behaviour that is harmful or abusive' in subsection 995-1(1) | 7.26 |
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