Senate
Tax Laws Amendment (2013 Measures No. 2) Bill 2013
Revised Explanatory Memorandum
(Circulated by the authority of the Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP)This memorandum takes account of amendments made by the House of Representatives to the Bill as introduced
Index
Schedule 1: Monthly PAYG instalments
| Bill reference | Paragraph number |
| Items 1 to 2, 11 to 17, 18 to 44, sections 45-1, 45-125, 45-130, 45-200, 45-205, 45-225, 45-597, 45-703, 45-715, 45-870, subsections 45-132(4), 45-200(2), 45-705(4), 45-915 of Schedule 1 to the TAA 1953, and sections 721-10 and 995-1 of the ITAA 1997 | 1.60 |
| Items 3 to 8 and 19, sections 45-5, 45-20, 45-50 and 45-136 | 1.15 |
| Items 5, 9 and 10, sections 45-67, 45-72 and subsection 45-20(2) | 1.20 |
| Items 9 and 11, section 45-65 and subsection 45-114(1) | 1.16 |
| Item 9, subsection 45-67(2) | 1.21 |
| Item 11, section 45-114 | 1.19 |
| Item 11, subsection 45-114(3) to (6) | 1.18 |
| Items 11 and 21 to 24, sections 45-200, 45-225 and subsection 45-114(2) | 1.17 |
| Item 19, paragraph 45-136(2)(a) | 1.41 |
| Item 19, subsection 45-136(3) and paragraph 45-136(2)(b) | 1.40 |
| Item 19, subsection 45-136(4) | 1.43 |
| Item 19, paragraph 45-136(4)(b) | 1.42 |
| Item 19, subsection 45-138(1) | 1.22 |
| Item 19, subsection 45-138(2) | 1.23 |
| Item 19, paragraph 45-138(2)(a) | 1.34 |
| Item 19, paragraph 45-138(2)(b) | 1.24, 1.32 |
| Item 19, subsection 45-138(3) | 1.36 |
| Item 19, paragraph 45-138(4)(a) | 1.39 |
| Item 19, paragraph 45-138(4)(b) | 1.37 |
| Item 19, subsections 45-138(5) to (7) | 1.28 |
| Item 45 and subitem 47(1) | 1.45 |
| Subitem 46 | 1.58, 1.59 |
| Subitem 47(4) | 1.56 |
| Subitem 47(5) | 1.55 |
| Item 48, and subitem 47(1) | 1.48 |
| Subitems 48(1) and (2) | 1.47 |
| Subitems 48(3) and (4) | 1.53 |
| Subitem 49(2) | 1.51 |
Schedule 2: Incentives for designated infrastructure projects
| Bill reference | Paragraph number |
| Item 1, section 272-100 in Schedule 2F to the ITAA 1936 | 2.59 |
| Items 2 to 4, paragraphs 165-35(b) and (c), and subsection 415-35(7) | 2.44 |
| Item 4, sections 415-1, 415-5, 415-10 and 415-50 | 2.118 |
| Item 4, paragraph 415-10(5)(b) | 2.26 |
| Items 4, 47 and 48, subsection 415-55(1) and section 415-10 of the Income Tax (Transitional Provisions) Act 1997 | 2.18 |
| Item 4, subsection 415-15(1) | 2.22, 2.23 |
| Item 4, subsections 415-15(2) and (3) | 2.27 |
| Item 4, subsection 415-15(2) and paragraphs 415-15(3)(a) and (c) | 2.28 |
| Item 4, subsection 415-15(2) and paragraph 415-15(3)(d) | 2.30 |
| Item 4, paragraph 415-15(3)(b) | 2.29 |
| Item 4, subsection 415-15(4) | 2.24 |
| Item 4, subsection 415-15(5) | 2.25 |
| Item 4, subsection 415-15(6) | 2.17 |
| Item 4, subsection 415-20(1) | 2.62 |
| Item 4, paragraphs 415-20(1)(a) and (b) | 2.70 |
| Item 4, paragraphs 415-20(1)(b), (c) and (d) | 2.19 |
| Item 4, paragraphs 415-20(1)(b) and (2)(a) | 2.20 |
| Item 4, paragraph 415-20(1)(d) | 2.73 |
| Item 4, paragraph 415-20(2)(a) and subsection 415-55(1) | 2.71 |
| Item 4, paragraphs 415-20(2)(b), (c) and (d) | 2.72 |
| Item 4, subsections 415-20(3) and (4) | 2.76 |
| Item 4, subsection 415-20(5) | 2.64 |
| Item 4, subsection 415-20(6) | 2.69 |
| Item 4, sections 415-25 and 415-30 | 2.61 |
| Items 4 and 47, subsection 415-35(3) and paragraph 415-10(a) of the Income Tax (Transitional Provisions) Act 1997 | 2.32 |
| Items 4, 47 and 48, subsection 415-15(1), paragraph 415-20(1)(a) and section 415-10 of the Income Tax (Transitional Provisions) Act 1997 | 2.16 |
| Item 4, subsection 415-35(2) | 2.33, 2.37 |
| Item 4, subsections 415-35(2) and (3) | 2.35 |
| Item 4, subsections 415-35(4) and (5) | 2.39 |
| Item 4, subsections 415-35(4) to (6) | 2.42 |
| Item 4, subsection 415-35(8) | 2.45, 2.46, 2.58 |
| Item 4, section 415-40 | 2.49 |
| Item 4, subsections 415-40(2) and (3) | 2.50, 2.57 |
| Item 4, subsections 415-40(2), (4) and (5) | 2.53 |
| Item 4, subsection 415-40(4) | 2.52 |
| Item 4, subsections 415-40(4) and (5) | 2.51 |
| Item 4, subsection 415-40(6) | 2.56 |
| Item 4, subsection 415-40(8) | 2.54 |
| Item 4, subsections 415-55(1), (2) and (4) | 2.79 |
| Item 4, subsection 415-55(2) and 415-75(4) | 2.106 |
| Item 4, subsection 415-55(3) | 2.107 |
| Item 4, subsections 415-55(4), 415-60(1), 415-65(2), and (3), 415-70(4) and (8) and 415-80(1), (3), (4) and (5) and sections 415-65, 415-70 and 415-90 | 2.98 |
| Item 4, subsections 415-60(1), (2) and (4) | 2.81 |
| Item 4, subsections 415-60(2) and (3) and paragraph 415-85(a) | 2.86 |
| Item 4, subsections 415-60(2) and (3) and paragraph 415-85(c) | 2.93 |
| Item 4, subsections 415-60(3), 415-65(1) and 415-70(1) and (2) | 2.82 |
| Item 4, subsection 415-60(5) | 2.80 |
| Item 4, subsections 415-65(3) and (4), and 415-70(4) to (6) | 2.75 |
| Item 4, paragraphs 415-65(1)(a) to (c) and subsections 415-65(2) to (4) | 2.84 |
| Item 4, paragraphs 415-65(1)(c) and 415-70(1)(c) and subsection 415-75(1) | 2.103 |
| Item 4, paragraph 415-65(1)(d)) | 2.85 |
| Item 4, subsection 415-65(2) | 2.87 |
| Item 4, paragraphs 415-65(1)(c) and (d), and 415-70(1)(c) and (d) | 2.101 |
| Item 4, subsections 415-65(5) to (7) | 2.88 |
| Items 4 and 35, section 415-70 and subsection 995-1(1) | 2.77 |
| Item 4, subsections 415-70(1) and (2) | 2.90 |
| Item 4, paragraph 415-70(2)(b) | 2.92 |
| Item 4, subsections 415-70(6) and (7) | 2.94 |
| Item 4, subsections 415-70(8) | 2.91 |
| Item 4, subsection 415-70(9) | 2.95 |
| Item 4, subsection 415-75(2) | 2.104 |
| Item 4, subsection 415-75(3) | 2.102 |
| Item 4, subsection 415-80(1) | 2.108 |
| Item 4, subsections 415-80(2) to (4) | 2.110 |
| Item 4, subsections 415-80(5) and (6) | 2.109 |
| Item 4, paragraph 415-85(b) | 2.89 |
| Item 4, paragraph 415-85(d) | 2.96 |
| Item 4, section 415-90 | 2.111 |
| Item 4, section 415-95 | 2.112 |
| Item 4, subsection 415-100(1) | 2.97 |
| Item 4, subsection 415-100(2) | 2.100 |
| Items 5 and 6, subsections 707-120(5) and 719-265(3A) | 2.67 |
| Items 7 to 14, 14A, 14B, 14C, 24, 28 and 32, sections 266-15, 266-30, 266-65, 266-80, 266-100, 266-115, 266-140, 266-155, 267-15, 267-55 and 267-60 in Schedule 2F to the ITAA 1936, and sections 165-5, 165-117 and 707-300 (notes) | 2.120 |
| Item 15, subsection 268-20(4) in Schedule 2F to the ITAA 1936 | 2.123 |
| Item 16, subsection 272-140(1) in Schedule 2F to the ITAA 1936 (definition of 'designated infrastructure project entity') | 2.116 |
| Items 17 and 36 and 38 to 42, subsection 272-140(1) definition of 'tax loss', subsection 995-1(1) definitions of 'ownership test period', 'same business test period', 'test period', 'tax loss' and 'test time' | 2.117 |
| Items 18 to 23, tables in sections 12-5 and 36-25 | 2.119 |
| Items 29 to 31, subsections 707-120(1), and 707-130(1) and paragraph 707-125(1)(b) | 2.124 |
| Items 33 and 34, paragraph 707-265(1)(a), and subsection 719-265(7) | 2.125 |
| Items 35 and 37, subsection 995-1(1) (definitions of 'designated infrastructure project', 'designated infrastructure project entity', 'infrastructure project capital expenditure', 'infrastructure project designation rules' and 'provisionally designated infrastructure project') | 2.115 |
| Items 39 and 40, subsection 995-1(1) paragraphs (a) and (d) of the definition of tax loss | 2.21 |
| Items 43 to 46, subsections 28(2) to (4) and 40(1) of the Infrastructure Australia Act 2008 | 2.122 |
| Item 43, subsection 28(2) of the Infrastructure Australia Act 2008 | 2.121 |
| Items 47 and 48, section 415-10 of the Income Tax (Transitional Provisions) Act 1997 | 2.113 |
| Items 49 to 65, subsections 266-185(1), 267-90(1), 268-10(2), 268-15(2), 268-20(2), 268-25(2), 268-75(1), 268-85(5), 269-65(1), 269-25(1) and paragraphs 269-25(1)(a), 269-100(4)(a), 271-80(a), 272-80(6B)(a) and (b) and 272-85(5C)(a) and (b) and subparagraph 272-80(6A)(i) of Schedule 2F to the ITAA 1936 | 2.126 |
| Item 66 and clause 2 (table item 3) | 2.114 |
Schedule 5: Tax secrecy and transparency
| Bill reference | Paragraph number |
| Item 1, section 3C | 3.21 |
| Item 1, subsections 3C(1), 3D(1) and 3E(1) | 3.23 |
| Item 1, subsections 3C(3), 3D(3) and 3E(3) | 3.24 |
| Item 1, paragraph 3C(3)(a) | 3.28 |
| Item 1, paragraphs 3C(3)(a), 3D(3)(a) and 3E(3)(a) | 3.26 |
| Item 1, paragraph 3C(3)(b) | 3.29 |
| Item 1, paragraph 3C(3)(c) | 3.30, 5.31 |
| Item 1, paragraph 3C(3)(d) | 3.32 |
| Item 1, subsections 3C(2), 3D(2) and 3E(2) | 3.36 |
| Item 1, subsections 3C(4) and (5), 3D(4) and (5) and 3E(4) and (5) | 3.44 |
| Item 1, subsections 3C(6), 3D(6) and 3E(6) | 3.43 |
| Item 1, sections 3D and 3E | 3.22, 3.33 |
| Item 2, subsection 355-47(1) of Schedule 1 | 3.51 |
| Item 2, paragraph 355-47(2)(a) of Schedule 1 | 3.50 |
| Item 2, paragraph 355-47(2)(b) of Schedule 1 | 3.58 |
| Items 3 and 4, note to section 355-50 of Schedule 1 | 3.47, 3.69 |
| Item 5, subsection 355-65(4) | 3.61 |
| Item 6, section 355-172 of Schedule 1 | 3.52 |
| Subitem 8(1) | 3.66 |
| Subitem 8(2) | 3.68 |
Schedule 6: Petroleum resource rent tax
| Bill reference | Paragraph number |
| Items 1 and 2, subsection 37(1) of the PRRTAA, items 4 and 5, subsection 38(1) of the PRRTAA and Schedule 6, item 7, subsection 39(1) of the PRRTAA | 4.33 |
| Items 3, 6, and 8, subsections 37(3), 38(3) and 39(5) of the PRRTAA | 4.55 |
| Item 9, subsection 41(1) of the PRRTAA | 4.34, 4.45 |
| Item 9, subsections 41(1) and 41(1A) of the PRRTAA | 4.37 |
| Item 9, subsection 41(1A) of the PRRTAA | 4.41 |
| Item 9, subsections 41(1B) and 41(1D) of the PRRTAA | 4.53 |
| Item 9, paragraph 41(1)(b) of the PRRTAA | 4.39, 4.46 |
| Item 9, subsection 41(1C) of the PRRTAA | 4.44 |
| Item 9, paragraph 41(1)(c) of the PRRTAA | 4.51 |
| Item 9, paragraph 41(1)(d) of the PRRTAA | 4.38, 4.49 |
| Item 9, subparagraph 41(1)(d) of the PRRTAA | 4.50 |
| Item 10, subsection 41(3) of the PRRTAA | 4.56 |
| Paragraph 11(1)(a) | 4.63 |
| Paragraphs 11(1)(b) and 11(1)(c) | 4.64 |
| Subitem 11(2) | 4.69 |
| Subitem 11(3) | 4.68 |
| Subitem 11(4) | 4.72 |
Schedule 7: Removing CGT discount for foreign individuals
| Bill reference | Paragraph number |
| Items 1 to 4, subsection 115-30(1) and section 115-100 | 5.66 |
| Item 5, subsection 115-100 | 5.67 |
| Item 5, paragraph 115-115(4)(d) | 5.56 |
| Item 6, subsection 115-105(1) | 5.14 |
| Item 6, paragraph 115-105(2)(d) | 5.26 |
| Subsection 115-105(3) | 5.28 |
| Item 6, table item 1 in subsection 115-110(2) | 5.29 |
| Item 6, table item 2 in subsection 115-110(2) | 5.37 |
| Item 6, table item 3 in subsection 115 -110(2) | 5.41 |
| Item 6, section 115-115 | 5.20 |
| Item 6, subsection 115-115(2) | 5.45 |
| Item 6, subsection 115-115(3) | 5.62 |
| Item 6, subsections 115-115(3) to (6) | 5.21 |
| Item 6, subsection 115-115(4) | 5.56 |
| Item 6, subsections 115-115(4) and (5) | 5.55 |
| Item 6, subsection 115-115(5) | 5.56, Example 5.15 |
| Item 6, subsection 115-115(6) | 5.59 |
| Item 6, section 115-120 | 5.42 |
| Item 6, subsection 115-120 | 5.15 |
Schedule 8: Tax exemption for payments under Defence Abuse Reparation Scheme
| Bill reference | Paragraph number |
| Item 1 | 6.11 |
| Item 2, item 1.7 in table in section 51-5 | 6.10 |
| Item 3 | 6.13 |
Schedule 9: GST-free treatment for National Disability Insurance Scheme funded supports
| Bill reference | Paragraph number |
| Item 1, paragraph 38-38(a) | 7.19 |
| Item 1, paragraphs 38-38(a) and (b) | 7.17 |
| Item 1, paragraph 38-38(c) | 7.20 |
| Items 1 and 2, paragraph 38-38(d) and subsection 177-10(5) | 7.23 |
| Item 2, subsection 177-10(6) | 7.25 |
| Item 3, section 195-1 | 7.27 |
| Item 4 | 7.28 |
Schedule 10: Deductible gift recipients
| Bill reference | Paragraph number |
| Item 1, item 2.2.5 in the table in subsection 30-25(2) of the ITAA 1997 | 8.6 |
| Item 2, item 2.2.40 in the table in subsection 30-25(2) of the ITAA 1997 | 8.8, 8.24 |
| Item 3, item 4.2.5 in the table in subsection 30-45(2) of the ITAA 1997 | 8.10 |
| Item 4, item 4.2.8 in the table in subsection 30-45(2) of the ITAA 1997 | 8.12 |
| Item 5, item 9.2.11 in the table in subsection 30-80(2) of the ITAA 1997 | 8.14 |
| Item 6, item 13.2.4 in the table in section 30-105 of the ITAA 1997 | 8.16 |
| Item 6, item 13.2.5 in the table in section 30-105 of the ITAA 1997 | 8.18 |
| Items 7 to 11 | 8.29 |
| Item 12 | 8.25 |
| Item 13, item 2.2.39 in the table in subsection 30-25(2) of the ITAA 1997 | 8.20 |
| Items 13 to 15 | 8.26 |
| Items 13 and 14, subsections 30-25(2) and 30-80(2) of the ITAA 1997 | 8.28 |
Schedule 11: Miscellaneous amendments
| Bill reference | Paragraph number |
| Items 1, 2 and 3 | 9.6 |
| Item 4 | 9.7 |
| Item 5, paragraph 59-50(6)(b) of the ITAA 1997 | 9.17 |
| Item 6, paragraph 59-50(6)(c) of the ITAA 1997 | 9.14 |
| Items 7 and 8, heading to Part 2-15 and section 59-50 of the Income Tax (Transitional Provisions) Act 1997 | 9.18 |
| Item 9 | 9.19 |
| Items 10 to 12, 15 to 26 | 9.26 |
| Items 13 and 14 | 9.25 |
| Subitem 27(1) | 9.27 |
| Subitem 27(2) | 9.31 |
| Subitem 27(3) | 9.32 |
| Items 28 to 31, subsection 960-275(1A) (formula) of the ITAA 1997, subsection 10A(5) (definition of current year) of the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 , and paragraph 9(1)(b) and subsection 9(1) (note) of the Superannuation Guarantee (Administration) Act 1992 | 9.48 |
| Item 32 | 9.50 |
| Items 33, 34, 38, 39, 42, 43, 46, 47, 50 and 51 | 9.65 |
| Item 35 | 9.55 |
| Items 36, 37, 40, 41, 44, 45, 48, 49 and 52 to 54 | 9.56 |
| Item 55, table item 2 in subsection 355-100(1) of the ITAA 1997 | 9.67 |
| Subitem 56(1) | 9.66 |
| Subitems 56(2) and (3) | 9.68 |
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