House of Representatives

Correction to the Explanatory Memorandum

(Circulated by the authority of the Treasurer, the Hon Wayne Swan MP)

Correction to the Explanatory Memorandum

Chapter 2

Paragraph 2.12- omit '355-25(a)', substitute '355-25(1)(a)'.

Paragraph 2.16 - omit '355-25(b)', substitute '355-25(1)(b)'.

Paragraph 2.23 - omit '355-35(2)(a)', substitute '355-30(2)(a)'.

Paragraph 2.32 - omit '355 35(2)(a)', substitute '355-30(2)(a)'.

Chapter 3

Paragraph 3.3 - omit 'Part 3 of Schedule 3 contains', substitute 'Schedule 3 contains'.

Paragraph 3.18 - omit '355-40', substitute '355-35'.

Paragraph 3.19 - omit '355-40', substitute '355-35'.

Paragraph 3.24 - omit 'section 355-40', substitute 'subsection 355-35(3)'.

Paragraph 3.46 - omit '355-115', substitute '355-110'.

Paragraph 3.49 - omit '355-220(a) and (b)', substitute '355-220(1)(a) and (1)(b)'.

Paragraph 3.50 - omit '355-210(d) and (e)', substitute '355-210(1)(d) and (e)'.

Paragraph 3.60 - omit '355-220(d)', substitute '355-220(1)(d)'.

Paragraph 3.61 - omit '355-220(e)', substitute '355-220(1)(e)'.

Paragraph 3.61 - omit '355-20(2)', substitute '355-220(2)'.

Paragraph 3.82 - omit '355-305(d)', substitute '355-305(1)(d)'.

Paragraph 3.131 - omit 'Schedule 1', substitute 'Schedule 3'.

Example 3.14 - omit 'Lisowski Crushing has a turnover of $100,000', substitute 'Lisowski Crushing has a turnover of $100 million'.

Paragraph 3.157 - omit 'item 44', substitute 'item 47'.

Paragraph 3.205 - omit '355-699', substitute '355-700'.

Chapter 4

Paragraph 4.12 - omit 'items 4 to 5', substitute 'items 4 and 5'.

Paragraph 4.41 - omit 'items 56 to 68', substitute 'items 55 to 70'.

Chapter 5

Paragraph 5.61 - in the third bullet point, omit 'In relation to each activity the subject of the request,...', substitute 'In relation to each activity that is the subject of the request,...'.

Paragraph 5.84 - omit 'and section 30A'.

Paragraph 5.92 - in the sentence 'All applications for these findings under must be in the approved form and accompanied by a fee (if any) specified in the regulations', omit 'under'.

Paragraph 5.111 - omit 'Schedule 2, item 1, subsection 27A(2)', substitute 'Schedule 1, item 1, subsection 355-705(2)'.

Paragraph 5.151 - omit 'subsection 30C(3)', substitute 'subsections 30C(2) and 30C(3)'.

Paragraph 5.157 - insert '[Schedule 2, item 1, section 30E]'.

Paragraph 5.158 - omit '[Schedule 2, item 1, section 30E]'.

Tax Laws Amendment (Research and Development) Bill 2010

Income Tax Rates Amendment (Research and Development) Bill 2010