House of Representatives

Tax Laws Amendment (2004 Measures No. 6) Bill 2004

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Peter Costello MP)

Index

Schedule 1: Consolidation

Bill reference Paragraph   number
Item 2, subsection 703-30(3) 1.17
Item 2, paragraph 703-30(3)(b) 1.27
Items 3 and 4 1.44
Item 5, section 705-56 1.35
Item 5, subsection 705-56(1) 1.38, 1.39
Item 5, subsections 705-56(2) to (4) 1.37
Item 5, subsections 705-56(2) and (5) 1.40
Item 5, subsection 705-56(3) 1.45
Item 5, subsections 705-56(3) and (4) 1.46
Item 5, subsections 705-56(3) and (5) 1.42
Item 5, paragraphs 705-56(3)(a) and (b); item 6, section 711-30 1.43
Item 6, subsection 711-30(3) 1.47
Item 7, section 711-45 1.48
Item 8, section 716-300 1.55
Item 8, paragraph 716-300(1)(c) 1.56
Item 9, subsection 705-300(1) 1.66
Item 9, subsection 705-300(2) 1.67
Item 9, subsection 705-305(1) 1.68
Item 9, subsection 705-305(2) 1.78
Item 9, subsections 705-305(3) and (4) 1.74
Item 9, subsection 705-305(5) 1.70
Item 9, subsection 705-305(6) 1.76
Item 9, subsection 705-305(7) 1.82
Item 9, subsection 705-305(8) 1.85
Item 9, subsection 705-305(9) 1.86
Item 9, subsection 705-310(1) 1.88
Item 9, subsection 705-310(2) 1.89
Item 9, subsection 705-310(3) 1.87
Item 10, section 712-305 1.92
Item 11, subsections 716-330(1) and (2) 1.99
Item 11, subsection 716-330(3) 1.104
Item 11, subsection 716-330(4) 1.106
Item 11, subsection 716-330(5) 1.108
Item 11, subsection 716-330(6) 1.109
Item 11, subsections 716-330(7) and (8) 1.101
Item 11, subsection 716-330(9) 1.102
Item 11, subsection 716-335(1) 1.110
Item 11, subsection 716-335(2) 1.111
Item 11, subsection 716-335(3) 1.117
Item 11, subsection 716-335(4) 1.114
Item 11, subsection 716-335(5) 1.112
Item 11, subsection 716-340(1) 1.121
Item 11, subsection 716-340(2) 1.126
Item 11, subsection 716-340(3) 1.131
Item 11, subsections 716-340(4) and (5) 1.130
Item 11, subsections 716-340(6) to (8) 1.127
Item 11, subsection 716-345(1) 1.132
Item 11, subsection 716-345(2) 1.134
Item 11, subsection 716-345(3) 1.133
Item 12, section 716-340 of the Income Tax (Transitional Provisions) Act 1997 1.229
Item 13, subsection 165-115ZC(1) 1.176
Items 14 to 18, subsections 165-115ZC(4), (5), (7A) and (7B) 1.180
Item 18, subsection 165-115ZC(7C) 1.181
Item 19 1.230
Item 20, subsection 165-115ZC(4) of the Income Tax (Transitional Provisions) Act 1997 1.173
Item 20, subsection 165-115ZC(5) of the Income Tax (Transitional Provisions) Act 1997 1.174
Item 20, subsection 165-115ZC(6) of the Income Tax (Transitional Provisions) Act 1997 1.175
Item 21, subsection 705-50(3A) 1.148
Item 22, subsection 705-90(10) 1.143
Item 23, note at the end of paragraph 705-95(b) 1.146
Item 24, subsection 705-90(2A) 1.153
Item 25, section 701-32 1.160
Item 25, section 701-34 1.161
Item 26, subsection 715-659(2) 1.195
Item 26, paragraph 715-660(1)(a) 1.190
Item 26, paragraph 715-660(1)(b) 1.191
Item 26, subsections 715-660(2) and (3) 1.189
Item 26, subsection 715-660(4) 1.194
Item 26, subsection 715-660(5) 1.196
Item 26, subsection 715-665(1) 1.206
Item 26, subsection 715-665(2) 1.200
Item 26, subsection 715-665(3) 1.207
Item 26, subsections 715-665(4) and (7) 1.208
Item 26, subsections 715-665(5) and 715-659(2) 1.209
Item 26, subsection 715-665(6) 1.210
Item 26, subsections 715-700(1) to (3) 1.197
Item 26, subsection 715-700(4) 1.198
Item 26, subsections 715-700(5) and 715-699(2) 1.199
Item 26, subsections 715-705(1) and (2) 1.214
Item 26, subsections 715-705(4) and (8) 1.216
Item 26, subsection 715-705(5) 1.218
Item 26, subsections 715-705(6 ) and 715-699(2) 1.217
Item 26, subsection 715-705(7) 1.219
Item 26, subsection 715-670(1) 1.220
Item 26, subsections 715-675(1) and 715-659(2) 1.225
Item 26, subsection 715-675(2) 1.226
Item 28 1.227
Items 29 and 30, section 705-60 1.167
Item 31, section 713-25 1.166
Item 32, subparagraph 713-25(1)(c)(ii) 1.165

Schedule 2: Copyright collecting societies

Bill reference Paragraph   number
Item 3, subsection 15-20(2) 2.16
Item 4, section 15-22 2.15
Item 4, subsection 15-22(1) 2.15
Item 5, paragraph 51-43(2)(a) 2.8
Item 5, paragraph 51-43(2)(b) 2.12
Item 6, section 410-5 2.18
Item 7 and the definition of 'copyright collecting society' in subsection 995-1(1) 2.21
Item 8 and the definition of 'copyright income' in subsection 995-1(1) 2.9
Item 9 and the definition of 'member' in subsection 995-1(1) 2.17
Item 10 and the definition of 'non-copyright income' in subsection 995-1(1) 2.11
Item 11, section 410-1 2.23
Item 12, section 288-75 2.19
Item 13 2.24

Schedule 3: Simplified Imputation System

Bill reference Paragraph   number
Part 1, item 4, sections 207-119, 207-120, 207-122, 207-124, 207-126, 207-128, 207-130, 207-132, 207-134 and 207-136 3.24
Part 1, item 5, sections 976-155 and 976-160 3.25
Part 1, items 6 to 13, subsection 995-1(1) 3.26
Part 2, items 1 to 25, 27 to 42 and 44 to 58 Table 3.1
Part 2, item 26, paragraph 46FB(4)(c) 3.14
Part 2, item 43, paragraph 128B(3)(ga) 3.16
Part 2, items 59 to 70 Table 3.1
Part 2, items 71 to 74 Table 3.1
Part 2, items 75 to 79 Table 3.1
Part 2, items 80 and 110, section 67-30 3.19
Part 2, item 81 Table 3.1
Part 2, items 82 to 85 Table 3.1
Part 2, items 87 to 92; items 2 and 3 in the table in section 208-115; items 2, 3, 5 and 6 in the table in section 208-130 3.18
Part 2, items 93 to 97, sections 208-165 and 208-170 3.17
Part 2, item 98, paragraph 210-170(1)(e) 3.20
Part 2, items 99 to 102 Table 3.1
Part 2, item 103 Table 3.1
Part 2, item 104 Table 3.1
Part 2, item 105 Table 3.1
Part 2, items 106 and 107 Table 3.1
Part 2, item 108 Table 3.1
Part 3, subitems 111(1) and (3) 3.28
Part 3, subitem 111(2) 3.29
Part 3, subitems 111(4) and (5) 3.30
Part 3, item 112 3.31
Part 3, item 113 3.32
Part 3, item 114 3.33

Schedule 4: Deductible gift recipients

Bill reference Paragraph   number
Item 1 4.7
Item 2 4.35
Item 3 4.24
Items 3, 4, 10 to 12 and 16 4.37
Items 3, 4, 10 to 13 and 16 4.15
Item 4 4.17, 4.18
Items 5 and 9 4.34
Items 5 to 9, 14 and 15 4.28, 4.38
Item 6 Table 4.3
Item 7 4.30
Item 8 4.33
Item 10 4.19, 4.20, 4.22, 4.23
Item 11 4.21
Item 12 4.26
Item 13 4.11, 4.16, 4.36
Item 14 4.31
Item 15 4.32
Item 16 4.25, 4.27

Schedule 5: Debt and equity interests

Bill reference Paragraph   number
Item 1, paragraph 974-75(4)(d) 5.10
Item 2, paragraph 974-75(4)(d) 5.7
Item 3, subsection 974-75(4) 5.6

Schedule 6: Irrigation water providers

Bill reference Paragraph   number
Item 1, section 40-53; item 5, subsection 40-555(1); item 6, subsection 40-555(2) 6.20
Item 2, subsection 40-515(5) 6.17
Item 2, subsection 40-515(6) 6.10
Item 3, subsection 40-520(1) 6.15
Item 4, subsection 40-525(1) 6.11
Item 7, subsection 40-630(1A) 6.22
Item 7, subsection 40-630(1B) 6.21
Item 8, subsection 40-630(2A) 6.31
Item 8, subsection 40-630(2B) 6.28
Item 9, subsection 40-630(4) 6.29
Item 10, paragraph 40-630(1)(f) 6.24, 6.30
Item 11, subsection 40-635(1) 6.26

Schedule 7: FBT housing benefits

Bill reference Paragraph   number
Item 1, paragraph 58C(1)(b) 7.9
Item 3, paragraph 58C(2)(a) 7.11
Item 4, paragraph 58C(3)(c) 7.14
Item 4, paragraph 58C(3)(ca) 7.13
Item 5, subsection 58C(5) 7.16

Schedule 8: CGT event G3

Bill reference Paragraph   number
Item 1, section 104-5 8.23
Item 2, subsection 104-145(1) 8.8
Item 2, subsections 104-145(2) and (4) 8.14
Item 2, paragraphs 104-145(3)(a) to (c) 8.12
Item 2, paragraphs 104-145(3)(d) and (e) 8.13
Item 2, subsection 104-145(5) 8.15
Item 2, paragraph 104-145(6)(a) 8.16
Item 2, paragraph 104-145(6)(b) 8.17
Item 2, subsection 104-145(7) 8.20
Item 2, subsection 104-145(8) 8.21
Item 3, section 112-45 8.24
Item 4, section 136-10 8.25
Items 5 to 7, paragraph 165-115GB(1)(b), subsection 165-115H(2) and section 165-115N 8.26
Item 8 8.22

Schedule 9: GST: Supplies to offshore owners of Australian real property

Bill reference Paragraph   number
Item 1, subsection 38-190(2A) 9.5
Item 2, subsection 38-190(3) 9.8
Item 3 9.9

Schedule 10: Baby bonus adoption amendments

Bill reference Paragraph   number
Item 13, paragraph 61-385(1A) 10.9
Item 20, section 61-440 10.7
Item 20, section 61-445 10.8
Item 20, subsection 61-450(2) 10.10
Item 20, subsection 61-450(3) 10.11
Item 20, subsection 61-450(4) 10.11
Item 20, subsection 61-450(5) 10.11
Item 20, section 61-455 10.13

Schedule 11: Technical correction

Bill reference Paragraph   number
Item 1, item 5 in the table in subsection 2(1) 11.5

Schedule 12: Transfer of life insurance business

Bill reference Paragraph   number
Item 1, section 138-25 12.55
Items 2 to 4, 6 and 7, subsections 320-30(1), 320-37(1), 320-40(1), the definition of 'life insurance premium' in subsection 995-1(1) of the ITAA 1997 and Division 126 of the Income Tax (Transitional Provisions) Act 1997 12.63
Item 5, section 320-305 12.6
Item 5, subsection 320-310(1) and section 320-320 12.14
Item 5, subsections 320-310(2) and (3) 12.18
Item 5, section 320-315 and paragraph 320-320(2)(a) 12.21
Item 5, section 320-320 12.8, 12.23
Item 5, subsection 320-320(1) 12.10
Item 5, paragraph 320-320(2)(b) 12.11, 12.16
Item 5, section 320-325 12.25
Item 5, section 320-330 12.28
Item 5, section 320-335 12.38
Item 5, subsection 320-340(1) 12.31
Item 5, subsections 320-340(2) to (5) 12.33
Item 5, subsections 320-345(1) and (2) 12.35
Item 5, subsection 320-345(3) 12.36
Item 8, paragraphs 126-150(1)(a), (b) and (d) of the Income Tax (Transitional Provisions) Act 1997 12.40
Item 8, paragraph 126-150(1)(c) of the Income Tax (Transitional Provisions) Act 1997 12.41
Items 8 and 9, subsections 126-150(2) and (3) of the Income Tax (Transitional Provisions) Act 1997 12.43
Item 8, subsections 126-155(1) and (2) of the Income Tax (Transitional Provisions) Act 1997 12.44
Item 8, subsection 126-155(3) of the Income Tax (Transitional Provisions) Act 1997 12.45
Item 8, subsection 126-160(1) of the Income Tax (Transitional Provisions) Act 1997 12.46
Item 8, subsections 126-160(2), (3) and (5) of the Income Tax (Transitional Provisions) Act 1997 12.47
Item 8, subsection 126-160(4) of the Income Tax (Transitional Provisions) Act 1997 12.48
Item 8, section 126-165 of the Income Tax (Transitional Provisions) Act 1997 12.51
Item 10, section 170-300 of the Income Tax (Transitional Provisions) Act 1997 12.60
Item 11 12.61


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