House of Representatives
Tax Laws Amendment (Research and Development) Bill 2010
Income Tax Rates Amendment (Research and Development) Bill 2010
Explanatory Memorandum
(Circulated by the authority of the Treasurer, the Hon Wayne Swan MP)Index
Schedule 1: Main components of new R & D incentive
| Bill reference | Paragraph number |
|---|---|
| Item 1, subsection 355-5(1) | 2.7 |
| Item 1, subsection 355-5(2) | 2.8 |
| Item 1, section 355-20 | 2.9 |
| Item 1, subsection 355-25(1) | 2.11 |
| Item 1, paragraph 355-25(a) | 2.12 |
| Item 1, paragraph 355-25(b) | 2.16 |
| Item 1, subsection 355-25(2) | 2.28 |
| Item 1, paragraph 355-25(2)(h) | 2.35 |
| Item 1, subsection 355-30(1) | 2.21 |
| Item 1, paragraphs 355-30(2)(b) and (c) | 2.22 |
| Item 1, section 355-35 | 5.25 |
| Item 1, paragraph 355-35(2)(a) | 2.23, 2.32 |
| Item 1, section 355-40 | 3.18, 3.19, 3.24 |
| Item 1, section 355-100 | 3.26, 3.31, 3.35, 3.36, 3.37, 3.38, 3.39 |
| Item 1, sections 355-100 and 355-545 | 3.170 |
| Item 1, subsections 355-100(1) and (2) | 3.40 |
| Item 1, subsection 355-100(2) | 3.184 |
| Item 1, section 355-105 | 3.43, 3.44, 3.45 |
| Item 1, section 355-115 | 3.46 |
| Item 1, section 355-205 | 3.73, 3.75, 3.76, 3.77 |
| Item 1, sections 355-205 and 355-305 | 3.47 |
| Item 1, sections 355-205 and 355-480 | 3.79 |
| Item 1, section 355-210 | 3.52, 3.53 |
| Item 1, subsection 355-210(1) and section 355-215 | 3.62, 3.63 |
| Item 1, subsection 355-210(1) and section 355-220 | 3.58 |
| Item 1, paragraphs 355-210(1)(a), 355-215(a) and (b) and 355-220(a) and (b) | 3.49 |
| Item 1, paragraph 355-210(1)(a) and subsection 355-210(2) | 3.57 |
| Item 1, paragraphs 355-210(d) and (e) | 3.50 |
| Item 1, section 355-315 | 3.48, 3.92, 3.93, 3.94 |
| Item 1, section 355-220 | 3.59 |
| Item 1, paragraph 355-220(d) | 3.60 |
| Item 1, paragraph 355-220(e) and subsection 355-20(2) | 3.61 |
| Item 1, section 355-225 | 3.64, 3.65, 3.70, 3.71 |
| Item 1, sections 355-225 and 355-305 | 3.72, 3.103 |
| Item 1, section 355-305 | 3.81, 3.83 |
| Item 1, sections 355-305 and 355-310 | 3.86 |
| Item 1, paragraph 355-305(d); | 3.82 |
| Item 1, section 355-310 | 3.84, 3.85 |
| Item 1, section 355-315 | 3.95, 3.96 |
| Item 1, section 355-400 | 3.154, 3.156 |
| Item 1, section 355-405 | 3.154, 3.164, 3.165, 3.166 |
| Item 1, subsection 355-405(4) | 3.167 |
| Item 1, section 355-410 | 3.154, 3.159, 3.160 |
| Item 1, section 355-415 | 3.154, 3.161, 3.162 |
| Item 1, sections 355-435 and 355-440 | 3.117 |
| Item 1, paragraph 355-445(a) and subsection 355-450(1) | 3.125 |
| Item 1, paragraph 355-445(b) | 3.121 |
| Item 1, subparagraph 355-445(b)(i) | 3.118 |
| Item 1, subparagraph 355-445(b)(ii) | 3.119 |
| Item 1, subsection 355-450(1) | 3.124 |
| Item 1, paragraphs 355-450(1)(a) and (b) | 3.123 |
| Item 1, subsections 355-450(1) and (4) | 3.130 |
| Item 1, subsection 355-450(2) | 3.129 |
| Item 1, subsection 355-450(3) | 3.127, 3.128 |
| Item 1, paragraph 355-465(1)(a) | 3.134 |
| Item 1, paragraph 355-465(1)(b) | 3.136 |
| Item 1, subparagraph 355-465(1)(b)(ii) | 3.135 |
| Item 1, paragraph 355-465(1)(c) | 3.137 |
| Item 1, subsection 355-465(2) | 3.146 |
| Item 1, paragraph 355-465(2)(b) | 3.150 |
| Item 1, paragraph 355-465(3)(a) | 3.151 |
| Item 1, paragraph 355-465(3)(b) | 3.147 |
| Item 1, section 355-470 | 3.140 |
| Item 1, section 355-475 | 3.153 |
| Item 1, section 355-480 | 3.80 |
| Item 1, subsection 355-505(1) | 3.169 |
| Item 1, subsection 355-505(2) | 3.171 |
| Item 1, section 355-510 | 3.172 |
| Item 1, section 355-515 | 3.174 |
| Item 1, section 355-520 | 3.176 |
| Item 1, section 355-525 | 3.176 |
| Item 1, section 355-530 | 3.175 |
| Item 1, section 355-535 | 3.176 |
| Item 1, section 355-540 | 3.176 |
| Item 1, subsection 355-580(1) | 3.183 |
| Item 1, subsection 355-580(2) | 3.185 |
| Item 1, subsections 355-580(3) and (4) | 3.187, 3.189 |
| Item 1, section 355-699 | 3.205 |
| Item 1, section 355-705 | 3.206, 3.207 |
| Item 1, sections 355-705 and 355-710 | 3.210 |
| Item 1, subparagraph 355-705(1)(a)(i) | 5.44 |
| Item 1, subparagraph 355-705(1)(a)(ii) | 5.70 |
| Item 1, section 355-710 | 3.212, 3.213 |
| Item 1, section 355-715 | 3.214 |
| Items 1 to 3, subsection 12(7), sections 12B and 31 of the Income Tax Rates Act 1986 | 3.132 |
| Items 2 to 10, subsection 995-1(1) | 4.40 |
| Item 54, section 4-25 | 3.131 |
Schedule 2: Innovation Australia's role
| Bill reference | Paragraph number |
|---|---|
| Item 1, subsection 27A(1) | 5.21 |
| Item 1, subsection 27A(2) | 5.24, 5.52, 5.53, 5.54, 5.109, 5.111 |
| Item 1, subsection 27A(3) | 5.22 |
| Item 1, subsection 27A(3) | 5.23 |
| Item 1, section 27B | 5.34 |
| Item 1, subsection 27B(1) | 5.48 |
| Item 1, paragraph 27B(1)(a) | 5.35 |
| Item 1, paragraph 27B(1)(b) | 5.35 |
| Item 1, paragraph 27B(1)(c) | 5.35 |
| Item 1, subparagraph 27B(1)(c)(ii) | 5.43 |
| Item 1, paragraph 27B(1)(d) | 5.35 |
| Item 1, subsection 27B(2) | 5.38 |
| Item 1, subsection 27B(3) and section 32B | 5.40 |
| Item 1, section 27C | 5.27, 5.58 |
| Item 1, subsection 27C(1) | 5.55 |
| Item 1, subsection 27C(2) | 5.56 |
| Item 1, sections 28C and 28D of the IR & D Act | 3.51 |
| Item 1, paragraph 27D(a) | 5.31 |
| Item 1, paragraph 27D(b) | 5.33 |
| Item 1, subparagraph 27D(c)(i) | 5.29 |
| Item 1, subparagraph 27D(c)(ii) | 5.29 |
| Item 1, section 27E and subsection 32(2) | 5.49 |
| Item 1, section 27E | 5.50 |
| Item 1, section 27F | 5.62 |
| Item 1, subsection 27F(2) | 5.61 |
| Item 1, paragraph 27F(3)(a) | 5.61 |
| Item 1, paragraphs 27F(3)(b) and 27F(4)(b) and section 27G | 5.61 |
| Item 1, paragraph 27F(4)(b), subsection 27K(3) and section 32A | 5.83 |
| Item 1, section 27H | 5.74 |
| Item 1, subsection 27J(1) | 5.73 |
| Item 1, paragraph 27J(1)(a) | 5.63 |
| Item 1, paragraph 27J(1)(b) | 5.63 |
| Item 1, paragraph 27J(1)(c) | 5.63, 5.69 |
| Item 1, paragraph 27J(1)(d) | 5.63 |
| Item 1, subsection 27J(2) | 5.64 |
| Item 1, subsection 27K(1) | 5.80 |
| Item 1, subsection 27K(2) | 5.81 |
| Item 1, subsection 27K(4) and section 30A | 5.84 |
| Item 1, sections 27L and 32B | 5.78 |
| Item 1, section 27L | 5.79 |
| Item 1, section 27L and subsection 27M(4) | 5.87 |
| Item 1, section 27M | 5.86 |
| Item 1, section 27N | 5.26, 5.88 |
| Item 1, sections 27N, 30A and 30B | 5.90 |
| Item 1, subsection 27N(4) | 5.89 |
| Item 1, subsection 28A(1) | 5.105 |
| Item 1, paragraph 28A(1)(d) | 5.107 |
| Item 1, subsection 28A(2) | 5.102 |
| Item 1, paragraph 28A(2)(a) | 5.101 |
| Item 1, subsection 28A(3) | 5.103 |
| Item 1, section 28B | 5.104 |
| Item 1, paragraph 28C(1)(a) | 5.117 |
| Item 1, paragraph 28C(1)(b) | 5.117 |
| Item 1, paragraph 28C(1)(c) | 5.117 |
| Item 1, subsections 28C(2) | 5.119 |
| Item 1, subsection 28D(1) | 5.120 |
| Item 1, subsection 28D(2) | 5.120 |
| Item 1, subsection 28D(3) | 5.120 |
| Item 1, subsection 28D(4) | 5.120 |
| Item 1, subsection 28D(5) | 5.120 |
| Item 1, paragraph 28D(5)(a) | 5.121 |
| Item 1, paragraph 28D(5)(b) | 5.121 |
| Item 1, subsection 28E(1) | 5.123 |
| Item 1, subsection 28E(2) | 5.124 |
| Item 1, subsection 28E(3) | 5.93 |
| Item 1, subsections 28E(3) and (4) | 5.126 |
| Item 1, section 28F | 5.97 |
| Item 1, subsections 28F(5) and 30B(3) | 5.99 |
| Item 1, section 28G | 5.92 |
| Item 1, section 28H | 5.94 |
| Item 1, section 29A | 5.130 |
| Item 1, section 29A and item 22 | 5.132 |
| Item 1, section 29B | 5.131 |
| Item 1, section 29C and subsection 29F(3) | 5.133 |
| Item 1, section 29D and subsection 29F(3) | 5.134 |
| Item 1, subsection 29E(1) | 5.135 |
| Item 1, subsections 29E(2) and (3) | 5.136 |
| Item 1, subsection 29F(1) | 5.138 |
| Item 1, subsection 29F(2) | 5.139 |
| Item 1, subsection 29F(3) | 5.140 |
| Item 1, section 29G | 5.141 |
| Item 1, section 29H | 5.142 |
| Item 1, section 29J and item 37 | 5.144 |
| Item 1, subsection 30C(4) | 5.44 |
| Item 1, subsection 30C(4) | 5.70 |
| Item 1, section 31 | 5.25 |
| Item 1, section 30A | 5.146 |
| Item 1, section 30B | 5.57, 5.82, 5.143, 5.148, 5.98 |
| Item 1, section 30C | 5.149 |
| Item 1, subsection 30D(2) | 5.152 |
| Item 1, subsection 30C(3) | 5.151 |
| Item 1, subsection 30C(4) | 5.44, 5.70, 5.150 |
| Item 1, subsections 30D(3) and (4) | 5.153 |
| Item 1, subsection 30D(5) | 5.155 |
| Item 1, section 30E | 5.158 |
| Item 1, subsection 30E(3) | 5.156 |
| Item 1, section 31 | 5.25 |
| Item 1, subsection 31(1) | 5.159 |
| Item 1, subsection 31(2) | 5.160 |
| Item 1, section 31A | 5.163 |
| Item 1, section 31B | 5.164 |
| Item 1, subsection 32(2) | 5.75, 5.167 |
| Item 1, subsection 32(3) | 5.32, 5.168 |
| Item 1, section 32A | 5.171 |
| Item 1, section 32B | 5.65, 5.172, 5.113 |
| Item 1, section 32C of the IR & D Act | 3.109 |
| Items 4, 6, 13 and 20 | 5.176 |
| Items 5, 7 to 9, 12, 14 to 19 and 22 to 27 | 5.174 |
| Items 36 and 37 | 5.177 |
| Items 38 to 41 | 5.178 |
| Item 43 | 5.179 |
Schedule 3: Other amendments relating to new R & D incentive
| Bill reference | Paragraph number |
|---|---|
| Item 1, subsection 63-10(1) | 3.110 |
| Items 2 to 4, sections 67-23 and 67-30 | 3.105 |
| Item 4, section 67-30 | 3.41 |
| Item 4, subsection 67-30(2) | 3.107 |
| Item 4, subsections 67-30(2) and (3) | 3.108 |
| Item 5, definition of 'excluded expenditure' in subsection 82KZL(1) of the ITAA 1936 | 4.33 |
| Items 6 to 14, sections 82KZL, 82KZM, 82KZMA, 82KZME and 82KZMF of the ITAA 1936 | 4.32 |
| Item 17, subsections 40-65(6) and (7) | 3.91 |
| Items 18 to 20, subsections 40-95(9), 40-100(4) and 40-105(1) to (3) | 3.87, 3.88, 3.89 |
| Item 24, subsection 40-425(8) | 3.82 |
| Item 24, section 40-292 | 3.99, 3.100, 3.101, 3.102 |
| Item 24, section 40-293 | 3.176 |
| Item 24, subsection 40-425(8) | 3.82 |
| Items 26 to 41, sections 43-35, 43-70, 43-90, 43-100, 43-140, 43-195, 43-210 and 43-215 | 4.37 |
| Item 44 and Schedule 4, subitem 1(1) | 4.6 |
| Item 44, subsection 136AB(2) of the ITAA 1936 | 3.157 |
| Item 45, section 94J of the ITAA 1936 | 3.20 |
| Item 46, subsection102T(9) | 3.19 |
| Item 48, subsection 170(10A) | 3.208 |
| Items 49 to 53, 71, 72, 96 to 98, 100 to 111 | 4.42 |
| Items 56 to 68, sections 9-5, 10-5, 12-5, 13-1 and 20-5 | 4.41 |
| Items 69 and 70, section 20-30 | 4.35 |
| Items 73 to 90, sections 104-235, 104-240, 108-55, 110-45, 118-24 and 118-35 | 4.39 |
| Items 91 and 92, subsections 205-15(1) and (4) | 3.201 |
| Item 93, subsection 205-30(2) | 3.200 |
| Items 94 and 95, section 205-35 | 3.198 |
| Item 99, subsection 328-175(9) of the ITAA 1936 | 3.82 |
| Item 105, section 716-500 | 3.197 |
| Item 105, sections 716-505 and 716-510 | 3.196 |
Schedule 4: Application, savings and transitional provisions
| Bill reference | Paragraph number |
|---|---|
| Item 1 | 5.180 |
| Item 2 | 4.8 |
| Items 2 and 3 | 5.181 |
| Items 4 to 5 | 4.12 |
| Item 6 | 4.13 |
| Item 10, section 40-67 of the IT(TP) Act 1997 | 4.16 |
| Item 11, section 40-105 of the IT(TP) Act 1997 | 4.16 |
| Item 12, section 40-292 of the IT(TP) Act 1997 | 4.21 |
| Item 12, section 40-293 of the IT(TP) Act 1997 | 4.22 |
| Item 13, section 40-430 of the IT(TP) Act 1997 | 4.16 |
| Item 15, section 355-200 of the IT(TP) Act 1997 | 4.23 |
| Item 15, section 355-320 of the IT(TP) Act 1997 | 4.18, 4.19 |
| Item 15, section 355-325 of the IT(TP) Act 1997 | 4.20 |
| Item 15, section 355-415 of the IT(TP) Act 1997 | 4.25 |
| Item 15, section 355-550 of the IT(TP) Act 1997 | 4.24 |
| Item 15, sections 355-600 and 355-605 of the IT(TP) Act 1997 | 4.27 |
| Item 15, sections 355-600 and 355-610 of the IT(TP) Act 1997 | 4.28 |
| Item 16 | 5.23 |
| Item 17 | 5.145, 5.182 |
| Subitem 1(1) | 4.4, 4.5 |
| Subitem 3(1) | 4.9 |
| Subitem 3(2) | 4.10 |
| Subitem 3(3) | 4.11 |
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