House of Representatives

Tax Laws Amendment (2009 Measures No. 6) Bill 2009

Tax Laws Amendment (2009 Measures No. 6) Act 2010

Explanatory Memorandum

Circulated By the Authority of the Treasurer, the Hon Wayne Swan MP)

Index

Schedule 1: Abolishing trust cloning and providing a CGT roll-over for certain trusts

Bill reference Paragraph number
Item 1, subsection 104-55(5) and item 2, subsection 104-60(5) 1.14
Items 3 and 11 1.107
Item 4, subsection 40-340(1) 1.83
Item 5, section 109-55 1.113
Item 6, section 112-54A 1.110
Item 7, section 112-150 1.111
Item 8, subsection 115-30(1) 1.112
Item 9, section 126-220 1.21
Item 9, subsection 126-225(1) 1.23
Item 9, paragraph 126-225(1)(b) 1.42
Item 9, subparagraph 126-225(1)(c)(i) 1.46
Item 9, subparagraph 126-225(1)(c)(ii) 1.47
Item 9, subparagraph 126-225(1)(c)(iii) 1.49
Item 9, subsection 126-225(2) 1.68
Item 9, subsection 126-225(3) 1.26
Item 9, subsection 126-230(1) 1.70
Item 9, subsection 126-230(2) 1.28
Item 9, subsection 126-230(3) 1.31
Item 9, subsection 126-230(4) 1.38
Item 9, subsection 126-235(1) 1.51
Item 9, subsection 126-235(2) 1.52
Item 9, subsection 126-235(3) 1.53
Item 9, paragraph 126-235(3)(c) 1.55
Item 9, subsection 126-235(4) 1.56
Item 9, subsection 126-235(5) 1.60
Item 9, subsection 126-240(1) 1.74
Item 9, subsection 126-240(2) 1.75
Item 9, subsection 126-240(3) 1.69, 1.78, 1.80
Item 9, subsection 126-240(4) 1.76
Item 9, subsection 126-245(1) 1.87
Item 9, subsections 126-245(2) and (4) 1.88
Item 9, subsections 126-245(3) and (4) 1.90
Item 9, subsection 126-245(5) 1.95
Item 9, subsection 126-245(6) 1.96
Item 9, section 126-250 1.98
Item 9, subsection 126-250(3) 1.99
Item 9, section 126-255 1.94
Item 9, subsection 126-260(1) 1.101
Item 9, subsection 126-260(2) 1.102
Item 9, subsections 126-260(3) and (4) 1.103
Item 9, subsection 126-260(5) 1.104
Item 9, subsection 126-260(6) 1.105
Item 9, subsection 126-260(7) 1.106
Item 10, subsection 995-1(1) 1.47
Item 12 1.108
Item 13 1.109
Items 14 and 15, subsection 184-1(2) of the GST Act; and items 19 and 20, subsection 960-100(2) 1.18
Item 16, subsection 104-10(2), item 17, subsection 104-55(1) and item 18, subsection 104-60(1) 1.18

Schedule 2: Loss relief for merging superannuation funds

Bill reference Paragraph number
Part 1, item 1, Division 310 2.13
Part 1, item 1, sections 310-10, 310-15, 310-20 and 310-45 2.19
Part 1, item 1, subsections 310-10(1) and (2) 2.20
Part 1, item 1, subsections 310-10(1), 310-15(1), 310-20(1) and 310-45(1) 2.16
Part 1, item 1, subsection 310-10(2) and section 310-30 2.21
Part 1, item 1, subsection 310-10(3) 2.22
Part 1, item 1, subsection 310-10(5) 2.24, 2.26
Part 1, item 1, subsection 310-15(1) 2.35
Part 1, item 1, subsection 310-15(2) 2.37
Part 1, item 1, subsections 310-15(2) to (5) 2.36
Part 1, item 1, subsection 310-20(1) 2.41
Part 1, item 1, subsection 310-20(2) 2.43
Part 1, item 1, subsections 310-20(2) to (5) 2.42
Part 1, item 1, section 310-25 2.46
Part 1, item 1, subsection 310-30(1) 2.48
Part 1, item 1, subsection 310-30(2) 2.49
Part 1, item 1, subsection 310-30(3) 2.50
Part 1, item 1, subsection 310-35(1) 2.51
Part 1, item 1, subparagraph 310-35(1)(b)(i) 2.52
Part 1, item 1, paragraphs 310-35(2)(a) and (c) 2.54
Part 1, item 1, paragraph 310-35(2)(b) 2.53
Part 1, item 1, subsection 310-40(1) 2.55
Part 1, item 1, subsection 310-40(2) 2.56
Part 1, item 1, paragraphs 310-40(2)(a) and (c) 2.57
Part 1, item 1, subsection 310-45(1) 2.58
Part 1, item 1, paragraph 310-45(1)(a) 2.17
Part 1, item 1, subsection 310-45(2) 2.60, 2.61
Part 1, item 1, subsections 310-45(2) to (4) 2.70
Part 1, item 1, paragraph 310-45(2)(b) 2.71, 2.73
Part 1, item 1, paragraph 310-45(2)(c) 2.76, 2.77
Part 1, item 1, paragraph 310-45(2)(c) and subsection 310-45(4) 2.75
Part 1, item 1, subsection 310-45(3) 2.62
Part 1, item 1, subsection 310-45(4) 2.67, 2.72
Part 1, item 1, subsection 310-45(5) 2.69, 2.74, 2.79
Part 1, item 1, subsection 310-50(1) 2.81, 2.82, 2.83
Part 1, item 1, subsection 310-50(2) 2.94, 2.95
Part 1, item 1, subsections 310-50(2) and 310-70(1) 2.98
Part 1, item 1, subsection 310-55(1) 2.84
Part 1, item 1, subsections 310-55(2) and (3) 2.86
Part 1, item 1, subsection 310-60(1) 2.88
Part 1, item 1, subsections 310-60(2) to (4) 2.89
Part 1, item 1, subsections 310-60(4) and (5) 2.90
Part 1, item 1, subsection 310-65(1) 2.96
Part 1, item 1, subsection 310-65(2) 2.97
Part 1, item 1, subsections 310-70(1) and (2) 2.99
Part 1, item 1, subsection 310-70(2) 2.100
Part 1, item 1, subsection 310-75(1) 2.102
Part 1, item 1, subsection 310-75(2) 2.103
Part 1, item 1, section 310-85 2.106
Item 1, subsection 310-45(4) 2.78
Part 2, item 2 2.112
Part 2, item 3 2.117
Part 2, item 4 2.118
Part 2, items 5 to 8 2.119
Part 2, items 9 and 10 2.120
Part 3, item 11 2.113
Part 4, items 12 to 21 2.114
Part 5, items 22 to 26 2.115

Schedule 3: Exempt annuity business of life insurance companies

Bill reference Paragraph number
Items 1 and 2, subparagraphs 320-246(1)(e)(ii) and (iii) and item 1 in the table in subsection 320-246(3) 3.15
Items 1 and 2, subparagraphs 320-246(1)(e)(ii) and (iii) and item 2 in the table in subsection 320-246(3) 3.18
Items 1 and 2, subparagraphs 320-246(1)(e)(ii) and (iii) and item 3 in the table in subsection 320-246(3) 3.22
Items 1 and 2, subparagraphs 320-246(1)(e)(ii) and (iii) and item 4 in the table in subsection 320-246(3) 3.24
Item 2, item 1 in the table in subsection 320-246(3) 3.17
Item 2, item 2 in the table in subsection 320-246(3) 3.19
Item 2, item 3 in the table in subsection 320-246(3) 3.23
Item 2, item 4 in the table in subsection 320-246(3) 3.25
Items 3, 9 and 10 3.38
Items 4 and 5, paragraph 320-246(1)(e) 3.29
Items 6 to 8, subsection 320-246(3) 3.31
Item 12 3.34, 3.36

Schedule 4: Deductible gift recipients

Bill reference Paragraph number
Item 5 4.8
Items 10, 20 and 25 4.10
Items 15, 20 and 25 4.5

Schedule 5: North Western Queensland floods

Bill reference Paragraph number
Item 1 5.11
Item 2 5.15
Item 3 5.14

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