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Tax Laws Amendment (Research and Development) Bill 2010

Tax Laws Amendment (Research and Development) Act 2011

Income Tax Rates Amendment (Research and Development) Bill 2010

Income Tax Rates Amendment (Research and Development) Act 2011

Explanatory Memorandum

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

Index

Schedule 1: Main components of new R & D incentive

Bill reference Paragraph number
Item 1, subsection 355-5(1) 2.7
Item 1, subsection 355-5(2) 2.8
Item 1, section 355-20 2.9
Item 1, subsection 355-25(1) 2.11
Item 1, paragraph 355-25(a) 2.12
Item 1, paragraph 355-25(b) 2.16
Item 1, subsection 355-25(2) 2.28
Item 1, paragraph 355-25(2)(h) 2.35
Item 1, subsection 355-30(1) 2.21
Item 1, paragraphs 355-30(2)(b) and (c) 2.22
Item 1, section 355-35 5.25
Item 1, paragraph 355-35(2)(a) 2.23, 2.32
Item 1, section 355-40 3.18, 3.19, 3.24
Item 1, section 355-100 3.26, 3.31, 3.35, 3.36, 3.37, 3.38, 3.39
Item 1, sections 355-100 and 355-545 3.170
Item 1, subsections 355-100(1) and (2) 3.40
Item 1, subsection 355-100(2) 3.184
Item 1, section 355-105 3.43, 3.44, 3.45
Item 1, section 355-115 3.46
Item 1, section 355-205 3.73, 3.75, 3.76, 3.77
Item 1, sections 355-205 and 355-305 3.47
Item 1, sections 355-205 and 355-480 3.79
Item 1, section 355-210 3.52, 3.53
Item 1, subsection 355-210(1) and section 355-215 3.62, 3.63
Item 1, subsection 355-210(1) and section 355-220 3.58
Item 1, paragraphs 355-210(1)(a), 355-215(a) and (b) and 355-220(a) and (b) 3.49
Item 1, paragraph 355-210(1)(a) and subsection 355-210(2) 3.57
Item 1, paragraphs 355-210(d) and (e) 3.50
Item 1, section 355-315 3.48, 3.92, 3.93, 3.94
Item 1, section 355-220 3.59
Item 1, paragraph 355-220(d) 3.60
Item 1, paragraph 355-220(e) and subsection 355-20(2) 3.61
Item 1, section 355-225 3.64, 3.65, 3.70, 3.71
Item 1, sections 355-225 and 355-305 3.72, 3.103
Item 1, section 355-305 3.81, 3.83
Item 1, sections 355-305 and 355-310 3.86
Item 1, paragraph 355-305(d); 3.82
Item 1, section 355-310 3.84, 3.85
Item 1, section 355-315 3.95, 3.96
Item 1, section 355-400 3.154, 3.156
Item 1, section 355-405 3.154, 3.164, 3.165, 3.166
Item 1, subsection 355-405(4) 3.167
Item 1, section 355-410 3.154, 3.159, 3.160
Item 1, section 355-415 3.154, 3.161, 3.162
Item 1, sections 355-435 and 355-440 3.117
Item 1, paragraph 355-445(a) and subsection 355-450(1) 3.125
Item 1, paragraph 355-445(b) 3.121
Item 1, subparagraph 355-445(b)(i) 3.118
Item 1, subparagraph 355-445(b)(ii) 3.119
Item 1, subsection 355-450(1) 3.124
Item 1, paragraphs 355-450(1)(a) and (b) 3.123
Item 1, subsections 355-450(1) and (4) 3.130
Item 1, subsection 355-450(2) 3.129
Item 1, subsection 355-450(3) 3.127, 3.128
Item 1, paragraph 355-465(1)(a) 3.134
Item 1, paragraph 355-465(1)(b) 3.136
Item 1, subparagraph 355-465(1)(b)(ii) 3.135
Item 1, paragraph 355-465(1)(c) 3.137
Item 1, subsection 355-465(2) 3.146
Item 1, paragraph 355-465(2)(b) 3.150
Item 1, paragraph 355-465(3)(a) 3.151
Item 1, paragraph 355-465(3)(b) 3.147
Item 1, section 355-470 3.140
Item 1, section 355-475 3.153
Item 1, section 355-480 3.80
Item 1, subsection 355-505(1) 3.169
Item 1, subsection 355-505(2) 3.171
Item 1, section 355-510 3.172
Item 1, section 355-515 3.174
Item 1, section 355-520 3.176
Item 1, section 355-525 3.176
Item 1, section 355-530 3.175
Item 1, section 355-535 3.176
Item 1, section 355-540 3.176
Item 1, subsection 355-580(1) 3.183
Item 1, subsection 355-580(2) 3.185
Item 1, subsections 355-580(3) and (4) 3.187, 3.189
Item 1, section 355-699 3.205
Item 1, section 355-705 3.206, 3.207
Item 1, sections 355-705 and 355-710 3.210
Item 1, subparagraph 355-705(1)(a)(i) 5.44
Item 1, subparagraph 355-705(1)(a)(ii) 5.70
Item 1, section 355-710 3.212, 3.213
Item 1, section 355-715 3.214
Items 1 to 3, subsection 12(7), sections 12B and 31 of the Income Tax Rates Act 1986 3.132
Items 2 to 10, subsection 995-1(1) 4.40
Item 54, section 4-25 3.131

Schedule 2: Innovation Australia's role

Bill reference Paragraph number
Item 1, subsection 27A(1) 5.21
Item 1, subsection 27A(2) 5.24, 5.52, 5.53, 5.54, 5.109, 5.111
Item 1, subsection 27A(3) 5.22
Item 1, subsection 27A(3) 5.23
Item 1, section 27B 5.34
Item 1, subsection 27B(1) 5.48
Item 1, paragraph 27B(1)(a) 5.35
Item 1, paragraph 27B(1)(b) 5.35
Item 1, paragraph 27B(1)(c) 5.35
Item 1, subparagraph 27B(1)(c)(ii) 5.43
Item 1, paragraph 27B(1)(d) 5.35
Item 1, subsection 27B(2) 5.38
Item 1, subsection 27B(3) and section 32B 5.40
Item 1, section 27C 5.27, 5.58
Item 1, subsection 27C(1) 5.55
Item 1, subsection 27C(2) 5.56
Item 1, sections 28C and 28D of the IR & D Act 3.51
Item 1, paragraph 27D(a) 5.31
Item 1, paragraph 27D(b) 5.33
Item 1, subparagraph 27D(c)(i) 5.29
Item 1, subparagraph 27D(c)(ii) 5.29
Item 1, section 27E and subsection 32(2) 5.49
Item 1, section 27E 5.50
Item 1, section 27F 5.62
Item 1, subsection 27F(2) 5.61
Item 1, paragraph 27F(3)(a) 5.61
Item 1, paragraphs 27F(3)(b) and 27F(4)(b) and section 27G 5.61
Item 1, paragraph 27F(4)(b), subsection 27K(3) and section 32A 5.83
Item 1, section 27H 5.74
Item 1, subsection 27J(1) 5.73
Item 1, paragraph 27J(1)(a) 5.63
Item 1, paragraph 27J(1)(b) 5.63
Item 1, paragraph 27J(1)(c) 5.63, 5.69
Item 1, paragraph 27J(1)(d) 5.63
Item 1, subsection 27J(2) 5.64
Item 1, subsection 27K(1) 5.80
Item 1, subsection 27K(2) 5.81
Item 1, subsection 27K(4) and section 30A 5.84
Item 1, sections 27L and 32B 5.78
Item 1, section 27L 5.79
Item 1, section 27L and subsection 27M(4) 5.87
Item 1, section 27M 5.86
Item 1, section 27N 5.26, 5.88
Item 1, sections 27N, 30A and 30B 5.90
Item 1, subsection 27N(4) 5.89
Item 1, subsection 28A(1) 5.105
Item 1, paragraph 28A(1)(d) 5.107
Item 1, subsection 28A(2) 5.102
Item 1, paragraph 28A(2)(a) 5.101
Item 1, subsection 28A(3) 5.103
Item 1, section 28B 5.104
Item 1, paragraph 28C(1)(a) 5.117
Item 1, paragraph 28C(1)(b) 5.117
Item 1, paragraph 28C(1)(c) 5.117
Item 1, subsections 28C(2) 5.119
Item 1, subsection 28D(1) 5.120
Item 1, subsection 28D(2) 5.120
Item 1, subsection 28D(3) 5.120
Item 1, subsection 28D(4) 5.120
Item 1, subsection 28D(5) 5.120
Item 1, paragraph 28D(5)(a) 5.121
Item 1, paragraph 28D(5)(b) 5.121
Item 1, subsection 28E(1) 5.123
Item 1, subsection 28E(2) 5.124
Item 1, subsection 28E(3) 5.93
Item 1, subsections 28E(3) and (4) 5.126
Item 1, section 28F 5.97
Item 1, subsections 28F(5) and 30B(3) 5.99
Item 1, section 28G 5.92
Item 1, section 28H 5.94
Item 1, section 29A 5.130
Item 1, section 29A and item 22 5.132
Item 1, section 29B 5.131
Item 1, section 29C and subsection 29F(3) 5.133
Item 1, section 29D and subsection 29F(3) 5.134
Item 1, subsection 29E(1) 5.135
Item 1, subsections 29E(2) and (3) 5.136
Item 1, subsection 29F(1) 5.138
Item 1, subsection 29F(2) 5.139
Item 1, subsection 29F(3) 5.140
Item 1, section 29G 5.141
Item 1, section 29H 5.142
Item 1, section 29J and item 37 5.144
Item 1, subsection 30C(4) 5.44
Item 1, subsection 30C(4) 5.70
Item 1, section 31 5.25
Item 1, section 30A 5.146
Item 1, section 30B 5.57, 5.82, 5.143, 5.148, 5.98
Item 1, section 30C 5.149
Item 1, subsection 30D(2) 5.152
Item 1, subsection 30C(3) 5.151
Item 1, subsection 30C(4) 5.44, 5.70, 5.150
Item 1, subsections 30D(3) and (4) 5.153
Item 1, subsection 30D(5) 5.155
Item 1, section 30E 5.158
Item 1, subsection 30E(3) 5.156
Item 1, section 31 5.25
Item 1, subsection 31(1) 5.159
Item 1, subsection 31(2) 5.160
Item 1, section 31A 5.163
Item 1, section 31B 5.164
Item 1, subsection 32(2) 5.75, 5.167
Item 1, subsection 32(3) 5.32, 5.168
Item 1, section 32A 5.171
Item 1, section 32B 5.65, 5.172, 5.113
Item 1, section 32C of the IR & D Act 3.109
Items 4, 6, 13 and 20 5.176
Items 5, 7 to 9, 12, 14 to 19 and 22 to 27 5.174
Items 36 and 37 5.177
Items 38 to 41 5.178
Item 43 5.179

Schedule 3: Other amendments relating to new R & D incentive

Bill reference Paragraph number
Item 1, subsection 63-10(1) 3.110
Items 2 to 4, sections 67-23 and 67-30 3.105
Item 4, section 67-30 3.41
Item 4, subsection 67-30(2) 3.107
Item 4, subsections 67-30(2) and (3) 3.108
Item 5, definition of 'excluded expenditure' in subsection 82KZL(1) of the ITAA 1936 4.33
Items 6 to 14, sections 82KZL, 82KZM, 82KZMA, 82KZME and 82KZMF of the ITAA 1936 4.32
Item 17, subsections 40-65(6) and (7) 3.91
Items 18 to 20, subsections 40-95(9), 40-100(4) and 40-105(1) to (3) 3.87, 3.88, 3.89
Item 24, subsection 40-425(8) 3.82
Item 24, section 40-292 3.99, 3.100, 3.101, 3.102
Item 24, section 40-293 3.176
Item 24, subsection 40-425(8) 3.82
Items 26 to 41, sections 43-35, 43-70, 43-90, 43-100, 43-140, 43-195, 43-210 and 43-215 4.37
Item 44 and Schedule 4, subitem 1(1) 4.6
Item 44, subsection 136AB(2) of the ITAA 1936 3.157
Item 45, section 94J of the ITAA 1936 3.20
Item 46, subsection102T(9) 3.19
Item 48, subsection 170(10A) 3.208
Items 49 to 53, 71, 72, 96 to 98, 100 to 111 4.42
Items 56 to 68, sections 9-5, 10-5, 12-5, 13-1 and 20-5 4.41
Items 69 and 70, section 20-30 4.35
Items 73 to 90, sections 104-235, 104-240, 108-55, 110-45, 118-24 and 118-35 4.39
Items 91 and 92, subsections 205-15(1) and (4) 3.201
Item 93, subsection 205-30(2) 3.200
Items 94 and 95, section 205-35 3.198
Item 99, subsection 328-175(9) of the ITAA 1936 3.82
Item 105, section 716-500 3.197
Item 105, sections 716-505 and 716-510 3.196

Schedule 4: Application, savings and transitional provisions

Bill reference Paragraph number
Item 1 5.180
Item 2 4.8
Items 2 and 3 5.181
Items 4 to 5 4.12
Item 6 4.13
Item 10, section 40-67 of the IT(TP) Act 1997 4.16
Item 11, section 40-105 of the IT(TP) Act 1997 4.16
Item 12, section 40-292 of the IT(TP) Act 1997 4.21
Item 12, section 40-293 of the IT(TP) Act 1997 4.22
Item 13, section 40-430 of the IT(TP) Act 1997 4.16
Item 15, section 355-200 of the IT(TP) Act 1997 4.23
Item 15, section 355-320 of the IT(TP) Act 1997 4.18, 4.19
Item 15, section 355-325 of the IT(TP) Act 1997 4.20
Item 15, section 355-415 of the IT(TP) Act 1997 4.25
Item 15, section 355-550 of the IT(TP) Act 1997 4.24
Item 15, sections 355-600 and 355-605 of the IT(TP) Act 1997 4.27
Item 15, sections 355-600 and 355-610 of the IT(TP) Act 1997 4.28
Item 16 5.23
Item 17 5.145, 5.182
Subitem 1(1) 4.4, 4.5
Subitem 3(1) 4.9
Subitem 3(2) 4.10
Subitem 3(3) 4.11


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