House of Representatives

Tax Laws Amendment (2012 Measures No. 6) Bill 2012

Tax Laws Amendment (2012 Measures No. 6) Act 2013

Explanatory Memorandum

(Circulated by the authority of the Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP)

Index

Schedule 1: Tax treatment of native title benefits

Bill reference Paragraph number
Item 1, subsection 128U(1) of the ITAA 1936 1.39
Item 2, section 11-55 1.38
Item 3, subsection 59-50(1) 1.17
Item 3, subsection 59-50(2) 1.20
Item 3, subsection 59-50(3) 1.23
Item 3, paragraph 59-50(4)(a) 1.21
Item 3, paragraph 59-50(4)(b) 1.22
Item 3, subsection 59-50(5) 1.27
Items 3 and 8, subsections 59-50(5) and 995-1(1) 1.25
Item 3, paragraph 59-5(5)(a) 1.28
Item 3, subparagraph 59-50(5)(a)(ii) 1.29
Items 3 and 5, subsections 59-50(6) and 995-1(1) 1.30
Item 4, section 118-77 1.33
Item 4, subparagraph 118-77(1)(b)(iii) 1.34
Item 6, subsection 995-1(1) 1.40
Item 7, subsection 995-1(1) 1.26
Item 9 1.35
Items 10 to 23, Division 11C (heading) and subsections 6(1) and 128U(1) of the ITAA 1936 and section 11-55 and subsections 30-300(2), 59-15(1) and (2) and 995-1(1) 1.41
Clause 4 1.37

Schedule 2: Deductible gift recipients

Bill reference Paragraph number
Item 1, item 2.2.34 in the table in subsection 30-25(2) of the ITAA 1997 2.11
Item 2, item 2.2.38 in the table in subsection 30-25(2) of the ITAA 1997 2.8
Item 3, item 2.2.41 in the table in subsection 30-25(2) of the ITAA 1997 2.9
Item 4, item 9.2.9 in the table in subsection 30-80(2) of the ITAA 1997 2.5
Item 5, item 9.2.10 in the table in subsection 30-80(2) of the ITAA 1997 2.7
Item 6, item 9.2.2 in the table in subsection 30-80(2) of the ITAA 1997 2.12
Items 7, 8 and 9, items 2AAC, 97AAA and 114A in the table in section 30-315 of the ITAA 1997 2.13

Schedule 3: Geothermal energy

Bill reference Paragraph number
Item 1, section 10-5 3.45
Item 2, section 12-5, table item headed 'capital allowances' 3.75
Item 3, section 15-40 3.46
Item 4, section 15-40 3.44
Item 5, paragraph 40-30(2)(ba) 3.15
Item 5, paragraph 40-30(2)(bb) 3.19
Item 6, section 40-40, table item 9A 3.21
Item 7, paragraph 40-80(1A)(a) 3.23
Item 7, paragraph 40-80(1A)(b) 3.26
Item 7, paragraph 40-80(1A)(c) 3.28
Item 8, subsection 40-290(5) 3.50
Item 9, at the end of the table in subsection 40-300(2) 3.67
Items 10 to 12, paragraph 40-630(1)(b), note in subsection 40-630(1) and paragraphs 40-630(1A)(b), (1B)(b) and (3)(b) 3.57
Items 13 and 14, paragraphs 40-650(3)(a) and (3)(b) 3.61
Item 15, above subsection 40-730(1) 3.29
Item 16, subsection 40-730(2A) 3.30, 3.32, 3.38
Item 16, subsection 40-730(2B) 3.39
Item 17, subsection 40-730(3) 3.33
Item 18, above subsection 40-730(4) 3.34
Item 19, paragraph 40-730(4)(b) 3.35
Item 20, paragraph 40-730(4)(c) 3.36
Item 21, paragraph 40-730(4)(e) 3.37
Item 22, subsection 40-730(7A) and (7B) 3.17
Item 23, subsection 40-730(9) 3.20
Item 24, subparagraph 43-70(2)(fa)(iv) 3.65
Item 25, section 112-38 3.69
Item 26, paragraph 165-55(2)(ba) 3.53
Items 27 and 28, paragraphs 716-300(1)(b) and (c) and note in subsection 716-300(1) 3.74
Item 30, subsection 995-1(1) 3.70
Items 31 and 29, subsection 995-1(1) 3.17
Item 32, subsection 995-1(1) 3.20
Item 33, subsection 995-1(1) 3.16
Item 34, Application 3.77

Schedule 4: Extension of interim streaming provisions for managed investment trusts

Bill reference Paragraph number
Items 1 to 3 4.12

Schedule 5: Rebate for medical expenses

Bill reference Paragraph number
Item 1, subsection 6(1) 5.18
Items 1and 6, subsection 6(1) 5.19
Items 3 and 4, subsection 6(1) 5.20
Items 5, subsection 6(1) 5.21
Items 7 and 8, 14 to 16, 18 and 19, subsection 6(1), sections 159HA and 159P 5.54
Item 9, subsection 159HA(7), items 4 and 5 in the table 5.23
Item 9, subsection 159HA(7), item 4 in the table 5.24
Item 9, subsection 159HA(7), item 5 in the table 5.25
Item 9, subsection 159HA(7) 5.22
Items 10 to 13, paragraph 159J(1AB)(a), subsections 159J(1AC), 159J(4) and (5) 5.26
Item 17, paragraph 159P(3AA)(a) 5.41
Item 17, paragraph 159P(3AA)(b) 5.43
Item 20, subsection 159Q(1) item 1 in the table 5.35
Item 20, subsection 159Q(1) 5.28, 5.39
Item 20, subparagraph 159Q(1)(a)(ii), subsection 159Q(4) and paragraph 159P(3)(a) 5.37
Item 20, subsection 159Q(1), item 1 in the table 5.29
Item 20, subsection 159Q(1), table 5.48
Item 20, subsection 159Q(1), items 1 and 2 in the table 5.40, 5.42
Item 20, subsection 159Q(1), item 2 in the table 5.33
Item 20, subsection 159Q(1), item 3 in the table 5.44
Item 20, subparagraph 159Q(1)(a)(ii) 5.38
Item 20, subsection 159Q(2) 5.52
Item 20, subsection 159Q(3) 5.49, 5.51
Item 20, subsection 159Q(5), section 159HA(7) 5.34
Item 21 5.53

Schedule 6: Limited recourse debt

Bill reference Paragraph number
Item 1, subsection 243-20(2) 6.13
Items 2 and 3, subsections 243-20(3) and (3A) 6.16
Item 4 6.19

Schedule 7: In-house fringe benefits under salary packaging arrangements

Bill reference Paragraph number
Items 1, 3 to 5, 8 and 10 7.47
Item 2, paragraph 42(1)(aa) 7.21
Item 6, paragraph 47(1)(f) 7.31
Item 6, paragraph 47(1)(f) 7.28
Items 7 and 9, paragraphs 48(aa) and 49(aa) 7.27
Item 11, paragraph 62(2)(a) 7.38
Item 12, subsection 136(1) 7.13
Item 13 7.39
Subitem 13(2) 7.44
Subitems 13(2) and (3) 7.40

Schedule 8: Miscellaneous amendments

Bill reference Paragraph number
Items 1 to 7 Table 8.1
Items 8 to 16 Table 8.1
Items 17 and 18 Table 8.2
Item 19 8.6
Items 20 to 25 Table 8.3
Item 26 8.7
Items 27, 28 and 32 Table 8.4
Item 29 Table 8.5
Items 30 and 31 Table 8.6
Item 31 8.8
Item 33 Table 8.7
Items 34 and 35 Table 8.8
Item 36 8.9
Item 37 Table 8.9
Item 38 Table 8.4

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