House of Representatives
Tax Laws Amendment (2010 Measures No. 5) Bill 2010
Tax Laws Amendment (2010 Measures No. 5) Act 2011
Explanatory Memorandum
(Circulated by the authority of the Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP)Index
Schedule 1: Film tax offsets
| Bill reference | Paragraph number |
|---|---|
| Items 1, 2 and 11 | 1.23 |
| Item 3 | 1.18 |
| Item 4, paragraph 376-20(5)(c) | 1.19 |
| Items 5, 8 and 9 | 1.20 |
| Item 6, section 376-25 | 1.22 |
| Item 7, paragraph 376-45(5)(a) | 1.17 |
| Item 10, paragraph 376-180(1)(d) | 1.21 |
| Subitem 12(2) | 1.25 |
| Subitem 12(1) | 1.26 |
Schedule 2: Capital protected borrowings
| Bill reference | Paragraph number |
|---|---|
| Items 1, 4, 7 and 12, section 247-20 of the ITAA 1997 and section 247-85 of the IT(TP) Act 1997 | 2.12 |
| Items 2, 3, 5, 6 and 8, section 247-20 of the ITAA 1997; Schedule 2, items 9 to 11, Division 247 and section 247-5 of the IT(TP) Act 1997 | 2.33 |
| Item 7, subsections 247-20(4) and (5) of the ITAA 1997 | 2.16 |
| Item 7, subsections 247-20(4), (5) and (5A) of the ITAA 1997 | 2.15 |
| Item 7, subsections 247-20(5) and (5A) of the ITAA 1997 | 2.18 |
| Item 12, sections 247-75 to 247-85 of the IT(TP) Act 1997 | 2.21 |
| Item 12, section 247-80 of the IT(TP) Act 1997 | 2.20, 2.22, 2.24 |
| Item 12, sections 247-80 and 247-85 of the IT(TP) Act 1997 | 2.19 |
| Item 12, section 247-85 of the IT(TP) Act 1997 | 2.25 |
| Item 12, subsection 247-85(3) of the IT(TP) Act 1997 | 2.26 |
| Item 12, subsection 247-85(4) of the IT(TP) Act 1997 | 2.27 |
| Subclause 4(1) | 2.29 |
Schedule 3: Extending CGT exemption for certain compulsory acquisitions
| Bill reference | Paragraph number |
|---|---|
| Items 1 to 3 and 5, sections 118-100 and 118-105, subsection 118-110(1) and note, and section 118-165 and note | 3.14 |
| Item 4, section 118-120 | 3.15 |
| Item 4, subsections 118-120(1), (2), (5) and (6), and items 7 and 8, definition of 'adjacent land' and 'adjacent structure' in subsection 995-1(1) | 3.16 |
| Item 4, subsection 118-120(2) and item 6, subsection 118-245(1) | 3.21 |
| Item 4, subsection 118-120(3) | 3.17 |
| Item 4, subsection 118-120(4), and item 9, definition of 'maximum exempt area' in subsection 995-1(1) | 3.18 |
| Item 4, subsection 118-120(4) and item 6, section 118-255 | 3.30 |
| Item 6, section 118-240 and note | 3.19 |
| Item 6, section 118-245 | 3.26 |
| Item 6, subsection 118-245(1) | 3.20, 3.22 |
| Item 6, paragraph 118-245(1)(e) and section 118-250 | 3.34 |
| Item 6, paragraph 118-245(1)(f) | 3.23 |
| Item 6, subsection 118-245(2) | 3.24, 3.25 |
| Item 6, section 118-250 | 3.39 |
| Item 6, paragraphs 118-250(1)(b), (2)(b) and (3)(b) and notes | 3.35 |
| Item 6, paragraphs 118-250(1)(b), (2)(b) and (3)(b) | 3.36 |
| Item 6, subsection 118-250(2) | 3.38 |
| Item 6, subsections 118-250(2) to (4) | 3.37 |
| Item 6, subsections 118-250(2) and (3) | 3.40 |
| Item 6, section 118-255 | 3.31, 3.32 |
| Item 6, subsection 118-260(1) | 3.41, 3.42 |
| Item 6, subsection 118-260(2) | 3.43 |
| Item 6, section 118-265 | 3.45 |
| Subitem 10(1) | 3.46 |
| Subitem 10(2) | 3.47 |
| Subitems 10(2) and (3) and subclause 4(2) | 3.52 |
| Subitem 10(3) | 3.48 |
| Subitem 10(4) | 3.49 |
| Subclause 4(3) | 3.54 |
Schedule 4: Deductions in relation to benefits for terminal medical conditions
| Bill reference | Paragraph number |
|---|---|
| Item 1, paragraph 295-460(aa) | 4.16, 4.18 |
| Item 1, paragraph 295-460(aa), section 303-10, Regulation 303-10.01 of the Income Tax Assessment Regulations 1997 | 4.17 |
| Item 2, paragraph 295-460(c) and item 4, subsection 995-1(1) (paragraph (a) of the definition of 'disability superannuation benefit') and item 5, subsection 995-1(1) (paragraph (b) of the definition of 'disability superannuation benefit') | 4.27 |
| Item 3, paragraph 295-460(aa) and subparagraph 295-470(1)(b)(i) | 4.26 |
| Items 3 and 6 | 4.28 |
| Items 6 and 7 | 4.29 |
Schedule 5: Non-profit sub-entities
| Bill reference | Paragraph number |
|---|---|
| Item 1, subsection 63-25(1) | 5.15 |
| Item 3, paragraph 63-27(1)(a) | 5.17 |
| Item 3, paragraph 63-27(1)(b) | 5.17 |
| Item 3, paragraph 63-27(1)(c) | 5.17 |
| Item 3, paragraph 63-27(1)(d) | 5.17 |
| Item 3, paragraph 63-27(1)(e) | 5.17 |
| Item 3, paragraph 63-27(1)(f) | 5.17 |
| Item 3, paragraph 63-27(1)(h) | 5.19 |
| Item 3, paragraph 63-27(2)(a) | 5.20 |
| Item 3, paragraph 63-27(2)(b) | 5.20 |
| Item 3, paragraph 63-27(2)(c) | 5.20 |
| Item 3, paragraph 63-27(2)(d) | 5.20 |
| Item 3, paragraph 63-27(2)(e) | 5.20 |
| Item 3, paragraph 63-27(2)(f) | 5.20 |
| Item 3, paragraph 63-27(2)(g) | 5.20 |
Schedule 6: Running balance accounts
| Bill reference | Paragraph number |
|---|---|
| Item 1, paragraph 8AAZL(3)(a) | 6.8 |
Schedule 7: Education expenses tax offset (uniforms)
| Bill reference | Paragraph number |
|---|---|
| Item 1 | 7.10 |
| Item 2 | 7.11 |