House of Representatives
Tax Laws Amendment (2005 Measures No. 5) Bill 2005
Explanatory Memorandum
(Circulated by the authority of the Treasurer, the Hon Peter Costello MP)Index
Schedule 1: Modifications to exemption for foreign earnings
| Bill reference | Paragraph number |
|---|---|
| Item 1, subsection 23AG(1A) | 1.19 |
| Item 2, subsection 23AG(2A) | 1.22 |
| Item 3, subsections 23AG(6A) and (6B) | 1.14, 1.15 |
| Item 4 | 1.28 |
| Subitem 5(1) | 1.26 |
| Subitem 5(2) | 1.27 |
| Subitem 5(3) | 1.23 |
| Subitem 5(4) | 1.25 |
Schedule 2: Tax offset for Australian production expenditure on television series
| Bill reference | Paragraph number |
|---|---|
| Items 1 and 2, subparagraph 376-15(1)(d)(iii) | 2.11 |
| Item 3, subparagraph 376-15(1)(e)(i) | 2.12 |
| Item 4, subparagraph 376-15(1)(e)(v) | 2.13 |
| Item 5, subparagraph 376-15(1)(ea)(i) | 2.14 |
| Item 5, subparagraph 376-15(1)(ea)(ii) | 2.16 |
| Items 5 and 6, paragraph 376-15(1)(eb) and subsection 376-15(3) | 2.17 |
| Item 7, subsection 376-17(1) | 2.20 |
| Item 7, paragraph 376-17(1)(d) and subsection 376-17(2) | 2.23 |
| Item 7, subsection 376-17(1)(note) | 2.22 |
| Item 7, subsection 376-17(3) | 2.24 |
| Item 7, subsection 376-17(4) | 2.25 |
| Items 8 to 10, subsection 376-25(5), subsection 376-25(6)(note) and section 376-35 | 2.26 |
| Item 11, subsection 376-35(2) | 2.27 |
| Item 12, subsection 995-1(1) definition of 'television series' | 2.29 |
| Item 13 | 2.30 |
Schedule 3: Consolidation
| Bill reference | Paragraph number |
|---|---|
| Item 1, section 719-450 | 3.14 |
| Item 1, paragraph 719-455(1)(a) | 3.16 |
| Item 1, paragraph 719-455(1)(b) | 3.17 |
| Item 1, subsection 719-455(2) | 3.19 |
| Item 1, paragraph 719-455(2)(a) | 3.22 |
| Item 1, paragraph 719-455(2)(b) | 3.26 |
| Item 1, subsection 719-455(3) | 3.32 |
| Item 1, subsection 719-455(4) | 3.35 |
| Item 1, subsection 719-460(1) | 3.23 |
| Item 1, subsection 719-460(2) | 3.24 |
| Item 1, subsection 719-465(1) | 3.27 |
| Item 1, subsection 719-465(2) | 3.28 |
| Item 1, subsection 719-465(3) | 3.29 |
| Item 1, subsection 719-465(4) | 3.30 |
| Item 1, subsection 719-465(5) | 3.31 |
| Items 2, 3 and 19, sections 709-205, 709-215 and 709-220 | 3.37 |
| Items 4 to 18, section 22 of the Financial Corporations (Transfer of Assets and Liabilities) Act 1993 , section 427 of the ITAA 1936, sections 266-35, 266-85, 266-120, 266-160, 267-25, 267-65 and 271-60 in Schedule 2F to the ITAA 1936 and sections 12-5, 25-35 and 165-120 of the ITAA 1997 | 3.64 |
| Items 20 and 33, section 719-450 of the Income Tax (Transitional Provisions) Act 1997 | 3.62 |
| Items 21 and 22, paragraphs 701-5(2)(b) and 701-5(4)(a) of the Income Tax (Transitional Provisions) Act 1997 | 3.41 |
| Item 23, paragraph 707-145(a) of the Income Tax (Transitional Provisions) Act 1997 | 3.44 |
| Item 24, paragraph 707-325(5)(b) of the Income Tax (Transitional Provisions) Act 1997 | 3.50 |
| Item 25, subsection 707-325(6) of the Income Tax (Transitional Provisions) Act 1997 | 3.51 |
| Item 26, subparagraph 707-327(5)(a)(ii) of the Income Tax (Transitional Provisions) Act 1997 | 3.53 |
| Item 27, paragraph 707-327(5)(b) of the Income Tax (Transitional Provisions) Act 1997 | 3.54 |
| Item 28, subparagraph 707-328A(4)(a)(ii) of the Income Tax (Transitional Provisions) Act 1997 | 3.57 |
| Item 29, paragraph 707-328A(4)(b) of the Income Tax (Transitional Provisions) Act 1997 | 3.58 |
| Item 30, paragraph 707-350(5)(b) of the Income Tax (Transitional Provisions) Act 1997 | 3.60 |
| Item 31, subsection 707-350(6) of the Income Tax (Transitional Provisions) Act 1997 | 3.61 |
| Item 32, section 719-310 of the Income Tax (Transitional Provisions) Act 1997 | 3.47 |
Schedule 4: Thin capitalisation
| Bill reference | Paragraph number |
|---|---|
| Item 1, subsection 820-45(1) | 4.18 |
| Item 1, subsection 820-45(2) | 4.21, 4.41 |
| Item 1, subsection 820-45(2), note (1) | 4.27 |
| Item 1, subsection 820-45(2), note (2) | 4.24 |
| Item 1, subsections 820-45(2) and (4) | 4.33 |
| Item 1, subsections 820-45(2) and (4), note (2) | 4.34 |
| Item 1, subsection 820-45(3) | 4.42 |
| Item 1, subsection 820-45(5) | 4.26 |
| Item 1, subsections 820-45(2) and (4), note (1) | 4.35 |
| Item 1, subsection 820-45(6) | 4.37 |
Schedule 6: Debt and equity interests
| Bill reference | Paragraph number |
|---|---|
| Item 1, paragraphs 164-10(1)(c) to (e) | 6.28 |
| Item 2, subsection 164-15(2) | 6.29 |
| Item 3, subsection 164-15(5) | 6.30 |
| Item 4, subsection 164-20(3) | 6.31 |
| Item 5, subsection 164-20(4) | 6.32 |
| Item 6, paragraph 974-75(4)(c) | 6.10, 6.27 |
| Item 8, subsection 974-75(6) | 6.8, 6.16, 6.18 |
| Item 8, paragraph 974-75(6)(a) | 6.7, 6.10 |
| Item 8, paragraph 974-75(6)(b) | 6.7, 6.14 |
| Item 8, subsection 974-75(7) | 6.15 |
| Items 9 to 12, subsections 974-110(1A) and (1B) | 6.19 |
| Item 13 | 6.21 |
| Items 14, 15, 23 and 24, subsections 160AOA(2), 160APAAAB(6), 974-105(1) and 974-110(1) and (2) | 6.35 |
| Items 16 to 21 and 28 to 32, paragraphs 104-35(5)(c) and (e), 104-155(5)(c) and (e) and section 109-10 | 6.35 |
| Item 22, subsection 974-75(5) | 6.24 |
| Item 25 | 6.36 |
| Items 26 and 27, subitems 118(2) and 118(9) of Schedule 1 to the New Business Tax System (Debt and Equity) Act 2001 | 6.35 |