House of Representatives
Tax Laws Amendment (2005 Measures No. 2) Bill 2005
Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello MP)Index
Schedule 1: Simplified imputation system
| Bill reference | Paragraph number |
|---|---|
| Item 1, steps 1 and 2 in the method statement in subsection 207-70(2) | 1.9 |
| Item 2, subsection 207-70(5) | 1.10 |
| Item 3 | 1.11 |
Schedule 2: CGT roll-over for transfer of assets to superannuation funds with licensed trustees
| Bill reference | Paragraph number |
|---|---|
| Item 1, section 112-150 | 2.18 |
| Item 2, subsection 126-210(1) | 2.9 |
| Item 2, subsections 126-210(2) to (4) | 2.13 |
| Item 2, subsection 126-210(5) | 2.15 |
Schedule 3: Deducting expenditure on telecommunications rights
| Bill reference | Paragraph number |
|---|---|
| Items 1 and 4 | 3.16 |
| Item 2 | 3.15 |
| Item 3, definition of an 'IRU' | 3.13 |
| Items 6 to 8 | 3.21 |
| Item 9 | 3.24 |
| Item 10 | 3.23 |
| Item 11 | 3.25 |
| Subitem 5(1) | 3.14 |
| Subitem 5(2) | 3.18 |
| Subitem 5(3) | 3.17 |
| Subitem 12(1) | 3.22 |
| Subitem 12(2) | 3.31 |
| Subitem 12(3) | 3.30 |
Schedule 4: Changing from annual to quarterly payment of PAYG instalments
| Bill reference | Paragraph number |
|---|---|
| Item 1 | 4.8 |
| Items 2 and 3 | 4.9 |
| Item 4 | 4.10, 4.11 |
| Item 5 | 4.15 |
Schedule 5: Deductible gift recipients
| Bill reference | Paragraph number |
|---|---|
| Items 1 and 7 | 5.9 |
| Items 1 to 9 | 5.5, 5.11 |
| Items 2 and 5 | 5.6 |
| Items 3 and 8 | 5.7 |
| Items 3 and 9 | 5.10 |
| Items 4 and 6 | 5.8 |
Schedule 6: Goods and services tax and real property
| Bill reference | Paragraph number |
|---|---|
| Item 1, section 17-99 | 6.47 |
| Item 2, subsection 40-75(2A) | 6.20 |
| Item 3, subsection 48-55(1A) | 6.22, 6.23 |
| Item 4, paragraph 48-115(1)(a); item 5, subsection 48-115(1); item 6, paragraph 48-115(1)(c); item 7, paragraph 48-115(1)(d) | 6.24 |
| Item 8, subsection 51-30(2A) | 6.18, 6.21 |
| Item 9, section 75-5 | 6.42 |
| Item 10, subsections 75-5(1) and (1A) | 6.35 |
| Item 11, subsection 75-5(2) | 6.32 |
| Item 11, subsections 75-5(2) and (3) | 6.16 |
| Item 11, paragraph 75-5(3)(b) | 6.31 |
| Item 12, subsection 75-10(2); item 13, subsection 75-10(3); item 17, section 75-15; item 27, section 195-1 | 6.43 |
| Item 14, paragraph 75-10(3)(b); item 15, paragraph 75-10(3)(b); item 21 | 6.44 |
| Item 16, paragraph 75-11(1)(c) | 6.16 |
| Item 16, paragraph 75-11(1)(d) | 6.17 |
| Item 16, subsection 75-11(2) | 6.17 |
| Item 16, subsections 75-11(3) and (4) | 6.29 |
| Item 16, paragraphs 75-11(3)(b) and 75-11(4)(b) | 6.30 |
| Item 16, subsections 75-11(5) and (6) | 6.12 |
| Item 16, paragraphs 75-11(5)(b) and 75-11(6)(b) | 6.13 |
| Item 16, paragraph 75-11(6)(b) | 6.14 |
| Item 16, subsection 75-11(7) and section 75-13 | 6.28 |
| Item 16, section 75-12 | 6.36 |
| Item 16, section 75-14 | 6.34 |
| Item 18, section 75-22 | 6.32 |
| Item 18, subsection 75-22(2) | 6.33 |
| Item 19, section 75-27 | 6.37 |
| Item 20, section 75-35 | 6.38 |
| Item 22, section 195-1; item 26, section 195-1 | 6.49 |
| Item 23, section 195-1 | 6.48 |
| Item 24, section 195-1 | 6.45 |
| Item 25, section 195-1 | 6.46 |
| Subitem 28(1) | 6.39 |
| Subitem 28(2) | 6.41 |
Schedule 7: Superannuation and family law
| Bill reference | Paragraph number |
|---|---|
| Items 1 to 4, subsection 27A(1); items 10 and 12, subsection 27ACA(5); items 15 and 17, subsection 27ACB(5); items 19 to 23, subsection 82AAC(3); item 28, subsection 82AAT(4); item 54, subsection 159T(3); item 56, subsection 274(5) | 7.39 |
| Items 5 and 6, subsection 27AAA(7A) | 7.15 |
| Item 7, paragraphs 27ACA(1)(b) and (c) | 7.18 |
| Item 8, subsection 27ACA(1) | 7.14 |
| Items 13 and 14, subsection 27ACB(1A) | 7.20 |
| Item 16, paragraph 27ACB(5)(e) | 7.23 |
| Item 18, subsection 82AAC(1A) | 7.26 |
| Items 24 to 27, subsections 82AAT(1A), (1AA), (1CB) and (1CBA) | 7.28 |
| Items 29 to 38, subsections 140M(1A) and (1C) | 7.30 |
| Item 39, paragraph 140M(1C)(d) | 7.31 |
| Item 40, paragraph 140M(1C)(g) | 7.32 |
| Items 41 to 47, subsections 140UA(1) and (2) | 7.33 |
| Items 48 to 50, section 140ZFA) | 7.34 |
| Item 51, subsection 140ZP(3) | 7.37 |
| Item 51, subsection 140ZN(4) | 7.38 |
| Item 52, subsection 140ZP(3) | 7.35 |
| Item 53, subsection 159T(1A) | 7.26 |
| Items 55 and 56, subsection 274(4) | 7.26 |
Schedule 8: Amendment of the Fringe Benefits Tax Assessment Act 1986
| Bill reference | Paragraph number |
|---|---|
| Item 1, paragraph 58PA(b) | 8.8 |
| Item 2, subparagraph 58PA(c)(i) | 8.12 |
| Item 3 | 8.14 |
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