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Income Tax Assessment Act 1997

SECTION 1-1
to
SECTION 13-1

SECTION 1-1 Short title

SECTION 1-2 Commencement

SECTION 1-3 Differences in style not to affect meaning

SECTION 1-4 Application

SECTION 1-7 Administration of this Act

SECTION 2-1 The design

SECTION 2-5 The pyramid

SECTION 2-10 When defined terms are identified

SECTION 2-15 When terms are not identified

SECTION 2-20 Identifying the defined term in a definition

SECTION 2-25 Purposes

SECTION 2-30 Gaps in the numbering

SECTION 2-35 Non-operative material

SECTION 2-40 Guides

SECTION 2-45 Other material

SECTION 3-1 What this Act is about

SECTION 3-5 Annual income tax

SECTION 3-10 Your other obligations as a taxpayer

SECTION 3-15 Your obligations other than as a taxpayer

SECTION 4-1 Who must pay income tax

SECTION 4-5 Meaning of you

SECTION 4-10 How to work out how much income tax you must pay

SECTION 4-15 How to work out your taxable income

SECTION 4-25 Special provisions for working out your basic income tax liability

SECTION 5-1 What this Division is about

SECTION 5-5 When income tax is payable

SECTION 5-10 When shortfall interest charge is payable

SECTION 5-15 General interest charge payable on unpaid income tax or shortfall interest charge

SECTION 6-1 Diagram showing relationships among concepts in this Division

SECTION 6-5 Income according to ordinary concepts ( ordinary income )

SECTION 6-10 Other assessable income ( statutory income )

SECTION 6-15 What is not assessable income

SECTION 6-20 Exempt income

SECTION 6-23 Non-assessable non-exempt income

SECTION 6-25 Relationships among various rules about ordinary income

SECTION 8-1 General deductions

SECTION 8-5 Specific deductions

SECTION 8-10 No double deductions

SECTION 9-1A Effect of this Division

SECTION 9-1 List of entities

SECTION 9-5 Entities that work out their income tax by reference to something other than taxable income

SECTION 10-1 Effect of this Division

SECTION 10-5 List of provisions about assessable income

SECTION 11-1A Effect of this Subdivision

SECTION 11-1 Overview

SECTION 11-5 Entities that are exempt, no matter what kind of ordinary or statutory income they have

SECTION 11-10 Ordinary or statutory income which is exempt, no matter whose it is

SECTION 11-15 Ordinary or statutory income which is exempt

SECTION 11-50 Effect of this Subdivision

SECTION 11-55 List of non-assessable non-exempt income provisions

SECTION 12-1 Effect of this Division

SECTION 12-5 List of provisions about deductions

SECTION 13-1A Effect of this Division

SECTION 13-1 List of tax offsets

SECTION 15-2
to
SECTION 87-85

SECTION 15-2 Allowances and other things provided in respect of employment or services

SECTION 15-3 Return to work payments

SECTION 15-5 Accrued leave transfer payments

SECTION 15-10 Bounties and subsidies

SECTION 15-15 Profit-making undertaking or plan

SECTION 15-20 Royalties

SECTION 15-22 Payments made to members of a copyright collecting society

SECTION 15-23 Payments of resale royalties by resale royalty collecting society

SECTION 15-25 Amount received for lease obligation to repair

SECTION 15-30 Insurance or indemnity for loss of assessable income

SECTION 15-35 Interest on overpayments and early payments of tax

SECTION 15-40 Providing mining, quarrying or prospecting information or geothermal exploration information

SECTION 15-45 Amounts paid under forestry agreements

SECTION 15-46 Amounts paid under forestry managed investment schemes

SECTION 15-50 Work in progress amounts

SECTION 15-55 Certain amounts paid under funeral policy

SECTION 15-60 Certain amounts paid under scholarship plan

SECTION 15-65 Sugar industry exit grants

SECTION 15-70 Reimbursed car expenses

SECTION 15-75 Bonuses

SECTION 15-80 Franked distributions entitled to a foreign income tax deduction - Additional Tier 1 capital exception

SECTION 15-85 Refunded excess rehabilitation tax offset

SECTION 17-5 GST and increasing adjustments

SECTION 17-10 Certain decreasing adjustments

SECTION 17-15 Elements in calculation of amounts

SECTION 17-20 GST groups and GST joint ventures

SECTION 17-30 Special credits because of indirect tax transition

SECTION 17-35 Certain sections not to apply to certain assets or expenditure

SECTION 20-1 What this Division is about

SECTION 20-5 Other provisions that reverse the effect of deductions

SECTION 20-15 How to use this Subdivision

SECTION 20-20 Assessable recoupments

SECTION 20-25 What is recoupment ?

SECTION 20-30 Tables of deductions for which recoupments are assessable

SECTION 20-35 If the expense is deductible in a single income year

SECTION 20-40 If the expense is deductible over 2 or more income years

SECTION 20-45 Effect of balancing charge

SECTION 20-50 If the expense is only partially deductible

SECTION 20-55 Meaning of previous recoupment law

SECTION 20-60 If you are the only entity that can deduct an amount for the loss or outgoing

SECTION 20-65 If 2 or more entities can deduct amounts for the loss or outgoing

SECTION 20-105 Map of this Subdivision

SECTION 20-110 Disposal of a leased car for profit

SECTION 20-115 Working out the profit on the disposal

SECTION 20-120 Meaning of notional depreciation

SECTION 20-125 Disposal of a leased car for profit

SECTION 20-130 Successive leases

SECTION 20-135 No amount included if earlier disposal for market value

SECTION 20-140 Reducing the amount to be included if there has been an earlier disposal

SECTION 20-145 No amount included if you inherited the car

SECTION 20-150 Reducing the amount to be included if another provision requires you to include an amount for the disposal

SECTION 20-155 Exception for particular cars taken on hire

SECTION 20-157 Exception for small business entities

SECTION 20-160 Disposal of an interest in a car

[ Division 22 - Amounts you must repay are not assessable income]

SECTION 25-5 Tax-related expenses

SECTION 25-7 Advice about family tax benefit

SECTION 25-10 Repairs

SECTION 25-15 Amount paid for lease obligation to repair

SECTION 25-20 Lease document expenses

SECTION 25-25 Borrowing expenses

SECTION 25-30 Expenses of discharging a mortgage

SECTION 25-35 Bad debts

SECTION 25-40 Loss from profit-making undertaking or plan

SECTION 25-45 Loss by theft etc.

SECTION 25-47 Misappropriation where a balancing adjustment event occurs

SECTION 25-50 Payments of pensions, gratuities or retiring allowances

SECTION 25-55 Payments to associations

SECTION 25-60 Parliament election expenses

SECTION 25-65 Local government election expenses

SECTION 25-70 Deduction for election expenses does not extend to entertainment

SECTION 25-75 Rates and land taxes on premises used to produce mutual receipts

SECTION 25-85 Certain returns in respect of debt interests

SECTION 25-90 Deduction relating to foreign non-assessable non-exempt income

SECTION 25-95 Deduction for work in progress amounts

SECTION 25-100 Travel between workplaces

SECTION 25-105 Deductions for United Medical Protection Limited support payments

SECTION 25-110 Capital expenditure to terminate lease etc.

SECTION 25-115 Deduction for payment of rent from land investment by operating entity to asset entity in relation to approved economic infrastructure facility

SECTION 25-120 Transitional - deduction for payment of rent from land investment by operating entity to asset entity

SECTION 25-125 COVID-19 tests

SECTION 26-1 What this Division is about

SECTION 26-5 Penalties

SECTION 26-10 Leave payments

SECTION 26-15 Franchise fees windfall tax

SECTION 26-17 Commonwealth places windfall tax

SECTION 26-18 Unit shortfall charge - clean energy

SECTION 26-19 Rebatable benefits

SECTION 26-20 Assistance to students

SECTION 26-22 Political contributions and gifts

SECTION 26-25 Interest or royalty

SECTION 26-25A Seasonal Labour Mobility Program

SECTION 26-26 Non-share distributions and dividends

SECTION 26-30 Relative ' s travel expenses

SECTION 26-31 Travel related to use of residential premises as residential accommodation

SECTION 26-35 Reducing deductions for amounts paid to related entities

SECTION 26-40 Maintaining your family

SECTION 26-45 Recreational club expenses

SECTION 26-47 Non-business boating activities

SECTION 26-50 Expenses for a leisure facility

SECTION 26-52 Bribes to foreign public officials

SECTION 26-53 Bribes to public officials

SECTION 26-54 Expenditure relating to illegal activities

SECTION 26-55 Limit on deductions

SECTION 26-60 Superannuation contributions surcharge

SECTION 26-65 Termination payments surcharge

SECTION 26-68 Loss from disposal of eligible venture capital investments

SECTION 26-70 Loss from disposal of venture capital equity

SECTION 26-74 Excess concessional contributions charge cannot be deducted

SECTION 26-75 Excess non-concessional contributions tax cannot be deducted

SECTION 26-80 Financing costs on loans to pay superannuation contribution

SECTION 26-85 Borrowing costs on loans to pay life insurance premiums

SECTION 26-90 Superannuation supervisory levy

SECTION 26-95 Superannuation guarantee charge

SECTION 26-96 Laminaria and Corallina decommissioning levy cannot be deducted

SECTION 26-97 National Disability Insurance Scheme expenditure

SECTION 26-98 Division 293 tax cannot be deducted

SECTION 26-99 Excess transfer balance tax cannot be deducted

SECTION 26-100 Expenditure attributable to water infrastructure improvement payments

SECTION 26-102 Expenses associated with holding vacant land

SECTION 26-105 Non-compliant payments for work and services

SECTION 27-5 Input tax credits and decreasing adjustments

SECTION 27-10 Certain increasing adjustments

SECTION 27-15 GST payments

SECTION 27-20 Elements in calculation of amounts

SECTION 27-25 GST groups and GST joint ventures

SECTION 27-35 Certain sections not to apply to certain assets or expenditure

SECTION 27-80 Cost or opening adjustable value of depreciating assets reduced for input tax credits

SECTION 27-85 Cost or opening adjustable value of depreciating assets reduced: decreasing adjustments

SECTION 27-87 Certain decreasing adjustments included in assessable income

SECTION 27-90 Cost or opening adjustable value of depreciating assets increased: increasing adjustments

SECTION 27-92 Certain increasing adjustments can be deducted

SECTION 27-95 Balancing adjustment events

SECTION 27-100 Pooling

SECTION 27-105 Other Division 40 expenditure

SECTION 27-110 Input tax credit etc. relating to 2 or more things

SECTION 28-10 Application of Division 28

SECTION 28-12 Car expenses

SECTION 28-13 Meaning of car expense

SECTION 28-15 Choosing between the 2 methods

SECTION 28-20 Rules governing choice of method

SECTION 28-25 How to calculate your deduction

SECTION 28-30 Capital allowances

SECTION 28-35 Substantiation

SECTION 28-45 How to calculate your deduction

SECTION 28-50 Eligibility

SECTION 28-55 Capital allowances

SECTION 28-60 Substantiation

SECTION 28-70 How to calculate your deduction

SECTION 28-75 Eligibility

SECTION 28-80 Substantiation

SECTION 28-90 How to calculate your deduction

SECTION 28-95 Eligibility

SECTION 28-100 Substantiation

SECTION 28-115 Income years for which you need to keep a log book

SECTION 28-120 Choosing the 12 week period for a log book

SECTION 28-125 How to keep a log book

SECTION 28-130 Replacing one car with another

SECTION 28-140 How to keep odometer records for a car for a period

SECTION 28-150 Retaining the log book for the retention period

SECTION 28-155 Retaining odometer records

SECTION 28-165 Exception for particular cars taken on hire

SECTION 28-170 Exception for particular cars used in particular ways

SECTION 28-175 Further miscellaneous exceptions

SECTION 28-180 Car expenses related to award transport payments

SECTION 28-185 Application of Subdivision 28-J to recipients and payers of certain withholding payments

SECTION 30-1 What this Division is about

SECTION 30-5 How to find your way around this Division

SECTION 30-10 Index

SECTION 30-15 Table of gifts or contributions that you can deduct

SECTION 30-17 Requirements for certain recipients

SECTION 30-20 Health

SECTION 30-25 Education

SECTION 30-30 Gifts that must be for certain purposes

SECTION 30-35 Rural schools hostel buildings

SECTION 30-37 Scholarship etc. funds

SECTION 30-40 Research

SECTION 30-45 Welfare and rights

SECTION 30-45A Australian disaster relief funds - declarations by Minister

SECTION 30-46 Australian disaster relief funds - declarations under State and Territory law

SECTION 30-50 Defence

SECTION 30-55 The environment

SECTION 30-60 Gifts to a National Parks body or conservation body must satisfy certain requirements

SECTION 30-65 Industry, trade and design

SECTION 30-70 The family

SECTION 30-75 Marriage education organisations must be approved

SECTION 30-80 International affairs

SECTION 30-85 Developing country relief funds

SECTION 30-86 Developed country disaster relief funds

SECTION 30-90 Sports and recreation

SECTION 30-95 Philanthropic trusts

SECTION 30-100 Cultural organisations

SECTION 30-102 Fire and emergency services

SECTION 30-105 Other recipients

SECTION 30-120 Endorsement by Commissioner

SECTION 30-125 Entitlement to endorsement

SECTION 30-130 Maintaining a gift fund

SECTION 30-135 Dealing with an application for endorsement

SECTION 30-140 Notifying outcome of application for endorsement

SECTION 30-145 Date of effect of endorsement

SECTION 30-150 Review of refusal of endorsement

SECTION 30-155 Checking entitlement to endorsement

SECTION 30-160 Telling Commissioner of loss of entitlement to endorsement

SECTION 30-165 Partnerships and unincorporated bodies

SECTION 30-170 Revoking endorsement

SECTION 30-175 Review of revocation of endorsement

SECTION 30-180 How this Subdivision applies to government entities

SECTION 30-200 Getting written valuations

SECTION 30-205 Proceeds of the sale would have been assessable

SECTION 30-210 Approved valuers

SECTION 30-212 Valuations by the Commissioner

SECTION 30-215 How much you can deduct

SECTION 30-220 Reducing the amount you can deduct

SECTION 30-225 Gift of property by joint owners

SECTION 30-227 Entities to which this Subdivision applies

SECTION 30-228 Content of receipt for gift or contribution

SECTION 30-229 Australian Business Register must show deductibility of gifts to deductible gift recipient

Subdivision 30-D - Testamentary gifts under the Cultural Bequests Program

SECTION 30-241 What this Subdivision is about

SECTION 30-242 Deduction for political contributions and gifts

SECTION 30-243 Amount of the deduction

SECTION 30-244 When an individual is an independent candidate

SECTION 30-245 When an individual is an independent member

SECTION 30-247 Gifts and covenants for which elections can be made

SECTION 30-248 Making an election

SECTION 30-249 Effect of election

SECTION 30-249A Requirements - environmental property gifts

SECTION 30-249B Requirements - heritage property gifts

SECTION 30-249C Requirements - certain cultural property gifts

SECTION 30-249D Requirements - conservation covenants

SECTION 30-255 Establishing the register

SECTION 30-260 Meaning of environmental organisation

SECTION 30-265 Its principal purpose must be protecting the environment

SECTION 30-270 Other requirements it must satisfy

SECTION 30-275 Further requirement for a body corporate or a co-operative society

SECTION 30-280 What must be on the register

SECTION 30-285 Removal from the register

SECTION 30-286 What this Subdivision is about

SECTION 30-287 Establishing the register

SECTION 30-288 Meaning of harm prevention charity

SECTION 30-289 Principal activity - promoting the prevention or control of harm or abuse

SECTION 30-289A Other requirements

SECTION 30-289B What must be on the register

SECTION 30-289C Removal from the register

SECTION 30-295 Establishing the register

SECTION 30-300 Meaning of cultural organisation

SECTION 30-305 What must be on the register

SECTION 30-310 Removal from the register

SECTION 30-315 Index

SECTION 30-320 Effect of this Subdivision

SECTION 31-5 Deduction for entering into conservation covenant

SECTION 31-10 Requirements for fund, authority or institution

SECTION 31-15 Valuations by the Commissioner

SECTION 32-5 No deduction for entertainment expenses

SECTION 32-10 Meaning of entertainment

SECTION 32-15 No deduction for property used for providing entertainment

SECTION 32-20 The main exception - fringe benefits

SECTION 32-25 The tables set out the other exceptions

SECTION 32-30 Employer expenses

SECTION 32-35 Seminar expenses

SECTION 32-40 Entertainment industry expenses

SECTION 32-45 Promotion and advertising expenses

SECTION 32-50 Other expenses

SECTION 32-55 In-house dining facility (employer expenses table items 1.1 and 1.2)

SECTION 32-60 Dining facility (employer expenses table item 1.3)

SECTION 32-65 Seminars (seminar expenses table item 2.1)

SECTION 32-70 $30 is assessable for each meal provided to non-employee in an in-house dining facility

SECTION 32-75 Commissioner may treat you as having incurred entertainment expense

SECTION 32-80 Company directors

SECTION 32-85 Directors, employees and property of wholly-owned group company

SECTION 32-90 Partnerships

SECTION 34-1 What this Division is about

SECTION 34-3 What you need to read

SECTION 34-5 This Division applies to employees and others

SECTION 34-7 This Division applies to employers and others

SECTION 34-10 What you can deduct

SECTION 34-15 What is a non-compulsory uniform?

SECTION 34-20 What are occupation specific clothing and protective clothing ?

SECTION 34-25 Application to register the design

SECTION 34-30 Industry Secretary's decision on application

SECTION 34-33 Written notice of decision

SECTION 34-35 When uniform becomes registered

SECTION 34-40 Review of decisions by the Administrative Appeals Tribunal

SECTION 34-45 Keeping of the Register

SECTION 34-50 Changes to the Register

SECTION 34-55 Approved occupational clothing guidelines

SECTION 34-60 Industry Secretary to give Commissioner information about entries

SECTION 34-65 Delegation of powers by Industry Secretary

SECTION 35-5 Object

SECTION 35-10 Deferral of deductions from non-commercial business activities

SECTION 35-15 Modification if you have exempt income

SECTION 35-20 Modification if you become bankrupt

SECTION 35-25 Application of Division to certain partnerships

SECTION 35-30 Assessable income test

SECTION 35-35 Profits test

SECTION 35-40 Real property test

SECTION 35-45 Other assets test

SECTION 35-50 Apportionment

SECTION 35-55 Commissioner ' s discretion

SECTION 36-10 How to calculate a tax loss for an income year

SECTION 36-15 How to deduct tax losses of entities other than corporate tax entities

SECTION 36-17 How to deduct tax losses of corporate tax entities

SECTION 36-20 Net exempt income

SECTION 36-25 Special rules about tax losses

SECTION 36-35 No deduction for tax loss incurred before bankruptcy

SECTION 36-40 Deduction for amounts paid for debts incurred before bankruptcy

SECTION 36-45 Limit on deductions for amounts paid

SECTION 36-55 Converting excess franking offsets into tax loss

SECTION 40-10 Simplified outline of this Division

SECTION 40-15 Objects of Division

SECTION 40-25 Deducting amounts for depreciating assets

SECTION 40-27 Further reduction of deduction for second-hand assets in residential property

SECTION 40-30 What a depreciating asset is

SECTION 40-35 Jointly held depreciating assets

SECTION 40-40 Meaning of hold a depreciating asset

SECTION 40-45 Assets to which this Division does not apply

SECTION 40-50 Assets for which you deduct under another Subdivision

SECTION 40-53 Alterations etc. to certain depreciating assets

SECTION 40-55 Use of the ' cents per kilometre ' car expense deduction method

SECTION 40-60 When a depreciating asset starts to decline in value

SECTION 40-65 Choice of methods to work out the decline in value

SECTION 40-70 Diminishing value method

SECTION 40-72 Diminishing value method for post-9 May 2006 assets

SECTION 40-75 Prime cost method

SECTION 40-80 When you can deduct the asset ' s cost

SECTION 40-82 Assets costing less than $150,000 - medium sized businesses - assets first acquired between 2 April 2019 and 31 December 2020

SECTION 40-85 Meaning of adjustable value and opening adjustable value of a depreciating asset

SECTION 40-90 Debt forgiveness

SECTION 40-95 Choice of determining effective life

SECTION 40-100 Commissioner ' s determination of effective life

SECTION 40-102 Capped life of certain depreciating assets

SECTION 40-103 Effective life and remaining effective life of certain vessels

SECTION 40-105 Self-assessing effective life

SECTION 40-110 Recalculating effective life

SECTION 40-115 Splitting a depreciating asset

SECTION 40-120 Replacement spectrum licences

SECTION 40-125 Merging depreciating assets

SECTION 40-130 Choices

SECTION 40-135 Certain anti-avoidance provisions

SECTION 40-140 Getting tax information from associates

SECTION 40-145 Application of Criminal Code

SECTION 40-175 Cost

SECTION 40-180 First element of cost

SECTION 40-185 Amount you are taken to have paid to hold a depreciating asset or to receive a benefit

SECTION 40-190 Second element of cost

SECTION 40-195 Apportionment of cost

SECTION 40-200 Exclusion from cost

SECTION 40-205 Cost of a split depreciating asset

SECTION 40-210 Cost of merged depreciating assets

SECTION 40-215 Adjustment: double deduction

SECTION 40-220 Cost reduced by amounts not of a capital nature

SECTION 40-222 Cost reduced by water infrastructure improvement expenditure

SECTION 40-225 Adjustment: acquiring a car at a discount

SECTION 40-230 Adjustment: car limit

SECTION 40-235 Adjustment: National Disability Insurance Scheme costs

SECTION 40-285 Balancing adjustments

SECTION 40-290 Reduction for non-taxable use

SECTION 40-291 Reduction for second-hand assets used in residential property

SECTION 40-292 Adjustments - assets used for both general tax purposes and R & D activities

SECTION 40-293 Adjustments - partnership assets used for both general tax purposes and R & D activities

SECTION 40-295 Meaning of balancing adjustment event

SECTION 40-300 Meaning of termination value

SECTION 40-305 Amount you are taken to have received under a balancing adjustment event

SECTION 40-310 Apportionment of termination value

SECTION 40-315 Expenses of balancing adjustment event

SECTION 40-320 Car to which section 40-225 applies

SECTION 40-325 Adjustment: car limit

SECTION 40-335 Deduction for in-house software where you will never use it

SECTION 40-340 Roll-over relief

SECTION 40-345 What the roll-over relief is

SECTION 40-350 Additional consequences

SECTION 40-360 Notice to allow transferee to work out how this Division applies

SECTION 40-362 Roll-over relief for holders of vessels covered by certificates under the Shipping Reform (Tax Incentives) Act 2012

SECTION 40-363 Roll-over relief for interest realignment arrangements

SECTION 40-364 Interest realignment adjustments

SECTION 40-365 Involuntary disposals

SECTION 40-370 Balancing adjustments where there has been use of different car expense methods

SECTION 40-425 Allocating assets to a low-value pool

SECTION 40-430 Rules for assets in low-value pools

SECTION 40-435 Private or exempt use of assets

SECTION 40-440 How you work out the decline in value of assets in low-value pools

SECTION 40-445 Balancing adjustment events

SECTION 40-450 Software development pools

SECTION 40-455 How to work out your deduction

SECTION 40-460 Your assessable income includes consideration for pooled software

SECTION 40-515 Water facilities, horticultural plants, fodder storage assets and fencing assets

SECTION 40-520 Meaning of water facility , horticultural plant , fodder storage asset and fencing asset

SECTION 40-525 Conditions

SECTION 40-530 When declines in value start

SECTION 40-535 Meaning of horticulture and commercial horticulture

SECTION 40-540 How you work out the decline in value for water facilities

SECTION 40-545 How you work out the decline in value for horticultural plants

SECTION 40-548 How you work out the decline in value for fodder storage assets

SECTION 40-550 How you work out the decline in value for grapevines

SECTION 40-551 How you work out the decline in value for fencing assets

SECTION 40-555 Amounts you cannot deduct

SECTION 40-560 Non-arm's length transactions

SECTION 40-565 Extra deduction for destruction of a horticultural plant

SECTION 40-570 How this Subdivision applies to partners and partnerships

SECTION 40-575 Getting tax information if you acquire a horticultural plant

SECTION 40-630 Landcare operations

SECTION 40-635 Meaning of landcare operation

SECTION 40-640 Meaning of approved management plan

SECTION 40-645 Electricity and telephone lines

SECTION 40-650 Amounts you cannot deduct under this Subdivision

SECTION 40-655 Meaning of connecting power to land or upgrading the connection and metering point

SECTION 40-660 Non-arm's length transactions

SECTION 40-665 How this Subdivision applies to partners and partnerships

SECTION 40-670 Approval of persons as farm consultants

SECTION 40-675 Review of decisions relating to approvals

SECTION 40-730 Deduction for expenditure on exploration or prospecting

SECTION 40-735 Deduction for expenditure on mining site rehabilitation

SECTION 40-740 Meaning of ancillary mining activities and mining building site

SECTION 40-745 No deduction for certain expenditure

SECTION 40-750 Deduction for payments of petroleum resource rent tax

SECTION 40-751 Deduction for payments of minerals resource rent tax

SECTION 40-755 Environmental protection activities

SECTION 40-760 Limits on deductions from environmental protection activities

SECTION 40-765 Non-arm's length transactions

SECTION 40-830 Project pools

SECTION 40-832 Project pools for post-9 May 2006 projects

SECTION 40-835 Reduction of deduction

SECTION 40-840 Meaning of project amount

SECTION 40-845 Project life

SECTION 40-855 When you start to deduct amounts for a project pool

SECTION 40-860 Meaning of mining capital expenditure

SECTION 40-865 Meaning of transport capital expenditure

SECTION 40-870 Meaning of transport facility

SECTION 40-875 Meaning of processed minerals and minerals treatment

SECTION 40-880 Business related costs

SECTION 40-885 Non-arm's length transactions

SECTION 40-1000 What this Subdivision is about

SECTION 40-1005 Deduction for expenditure for establishing trees in carbon sink forests

SECTION 40-1010 Expenditure for establishing trees in carbon sink forests

SECTION 40-1015 Carbon sequestration by trees

SECTION 40-1020 Certain expenditure disregarded

SECTION 40-1025 Non-arm ' s length transactions

SECTION 40-1030 Extra deduction for destruction of trees in carbon sink forest

SECTION 40-1035 Getting information if you acquire a carbon sink forest

SECTION 40-1095 What this Subdivision is about

SECTION 40-1100 Meaning of farm-in farm-out arrangement and exploration benefit

SECTION 40-1105 Treatment of certain exploration benefits received under farm-in farm-out arrangements

SECTION 40-1110 Cost of split interests resulting from farm-in farm-out arrangements

SECTION 40-1115 Deductions relating to receipt of exploration benefits

SECTION 40-1120 Cost base and reduced cost base of exploration benefits etc.

SECTION 40-1125 Effect of exploration benefits on the cost of mining, quarrying or prospecting information

SECTION 40-1130 Consequences of certain exploration benefits provided under farm-in farm-out arrangements

[ Former Division 41 - Common rules for capital allowances]

SECTION 41-1 What this Division is about

SECTION 41-5 Object of Division

SECTION 41-10 Entitlement to deduction for investment

SECTION 41-15 Amount of deduction

SECTION 41-20 Recognised new investment amount

SECTION 41-25 Investment commitment time

SECTION 41-30 First use time

SECTION 41-35 New investment threshold

[ Division 42 - Depreciation of plant]

SECTION 43-10 Deductions for capital works

SECTION 43-15 Amount you can deduct

SECTION 43-20 Capital works to which this Division applies

SECTION 43-25 Rate of deduction

SECTION 43-30 No deduction until construction is complete

SECTION 43-35 Requirement for registration under the Industry Research and Development Act

SECTION 43-40 Deduction for destruction of capital works

SECTION 43-45 Certain anti-avoidance provisions

SECTION 43-50 Links and signposts to other parts of the Act

SECTION 43-55 Anti-avoidance - arrangement etc. with tax-exempt entity

SECTION 43-70 What is construction expenditure?

SECTION 43-72 Meaning of forestry road, timber operation and timber mill building

SECTION 43-75 Construction expenditure area

SECTION 43-80 When capital works begin

SECTION 43-85 Pools of construction expenditure

SECTION 43-90 Table of intended use at time of completion of construction

SECTION 43-95 Meaning of hotel building and apartment building

SECTION 43-100 Certificates by Industry Innovation and Science Australia

SECTION 43-115 Your area and your construction expenditure - owners

SECTION 43-120 Your area and your construction expenditure - lessees and quasi-ownership right holders

SECTION 43-125 Lessees' or right holders' pools can revert to owner

SECTION 43-130 Identifying your area on acquisition or disposal

SECTION 43-140 Using your area in a deductible way

SECTION 43-145 Using your area in the 4% manner

SECTION 43-150 Meaning of industrial activities

SECTION 43-160 Your area is used for a purpose if it is maintained ready for use for the purpose

SECTION 43-165 Temporary cessation of use

SECTION 43-170 Own use - capital works other than hotel and apartment buildings

SECTION 43-175 Own use - hotel and apartment buildings

SECTION 43-180 Special rules for hotel and apartment buildings

SECTION 43-185 Residential or display use

SECTION 43-190 Use of facilities not commonly provided, and of certain buildings used to operate a hotel, motel or guest house

SECTION 43-195 Use for R & D activities must be in connection with a business

SECTION 43-210 Deduction for capital works begun after 26 February 1992

SECTION 43-215 Deduction for capital works begun before 27 February 1992

SECTION 43-220 Capital works taken to have begun earlier for certain purposes

SECTION 43-230 Calculating undeducted construction expenditure - common step

SECTION 43-235 Post-26 February 1992 undeducted construction expenditure

SECTION 43-240 Pre-27 February 1992 undeducted construction expenditure

SECTION 43-250 The amount of the balancing deduction

SECTION 43-255 Amounts received or receivable

SECTION 43-260 Apportioning amounts received for destruction

[ Division 44 - IRUs and submarine cable systems]

SECTION 45-5 Disposal of leased plant or lease

SECTION 45-10 Disposal of interest in partnership

SECTION 45-15 Disposal of shares in 100% subsidiary that leases plant

SECTION 45-20 Disposal of shares in 100% subsidiary that leases plant in partnership

SECTION 45-25 Group members liable to pay outstanding tax

SECTION 45-30 Reduction for certain plant acquired before 21.9.99

SECTION 45-35 Limit on amount included for plant for which there is a CGT exemption

SECTION 45-40 Meaning of plant and written down value

[ Division 46 - Software]

SECTION 50-1 Entities whose ordinary income and statutory income is exempt

SECTION 50-5 Charity, education and science

SECTION 50-10 Community service

SECTION 50-15 Employees and employers

SECTION 50-20 Funds contributing to other funds

SECTION 50-25 Government

SECTION 50-30 Health

SECTION 50-35 Mining

SECTION 50-40 Primary and secondary resources, and tourism

SECTION 50-45 Sports, culture and recreation

SECTION 50-47 Special condition for all items

SECTION 50-50 Special conditions for item 1.1

SECTION 50-52 Special condition for item 1.1

SECTION 50-55 Special conditions for items 1.3, 1.4, 6.1 and 6.2

SECTION 50-57 Special condition for item 1.5

SECTION 50-60 Special conditions for items 1.5A and 1.5B

SECTION 50-65 Special conditions for item 1.6

SECTION 50-70 Special conditions for items 1.7, 2.1, 9.1 and 9.2

SECTION 50-72 Special condition for item 4.1

SECTION 50-75 Certain distributions may be made overseas

SECTION 50-80 Testamentary trusts may be treated as 2 trusts

SECTION 50-105 Endorsement by Commissioner

SECTION 50-110 Entitlement to endorsement

SECTION 50-115 Applying for endorsement

SECTION 50-120 Dealing with an application for endorsement

SECTION 50-125 Notifying outcome of application for endorsement

SECTION 50-130 Date of effect of endorsement

SECTION 50-135 Review of refusal of endorsement

SECTION 50-140 Checking entitlement to endorsement

SECTION 50-145 Telling Commissioner of loss of entitlement to endorsement

SECTION 50-150 Partnerships and unincorporated bodies

SECTION 50-155 Revoking endorsement

SECTION 50-160 Review of revocation of endorsement

SECTION 51-1 Amounts of ordinary income and statutory income that are exempt

SECTION 51-5 Defence

SECTION 51-10 Education and training

SECTION 51-15 Vice-regal representatives

SECTION 51-25 Mining

SECTION 51-30 Welfare

SECTION 51-32 Compensation payments for loss of tax exempt payments

SECTION 51-33 Compensation payments for loss of pay and/or allowances as a Defence reservist

SECTION 51-35 Payments to a full-time student at a school, college or university

SECTION 51-40 Payments to a secondary student

SECTION 51-42 Bonuses for early completion of an apprenticeship

SECTION 51-43 Income collected or derived by copyright collecting society

SECTION 51-45 Income collected or derived by resale royalty collecting society

SECTION 51-48 Taxable amounts relating to franchise fees windfall tax

SECTION 51-49 Taxable amounts relating to Commonwealth places windfall tax

SECTION 51-50 Maintenance payments to a spouse or child

SECTION 51-52 Income derived from eligible venture capital investments by ESVCLPs

SECTION 51-54 Gain or profit from disposal of eligible venture capital investments

SECTION 51-55 Gain or profit from disposal of venture capital equity

SECTION 51-57 Interest on judgment debt relating to personal injury

SECTION 51-60 Prime Minister ' s Prizes

SECTION 51-65 Government co-contribution towards low income earner ' s superannuation

SECTION 51-100 Shipping

SECTION 51-105 Shipping activities

SECTION 51-110 Core shipping activities

SECTION 51-115 Incidental shipping activities

SECTION 51-120 Interest on unclaimed money and property

SECTION 51-125 2018 storms - relief payments

SECTION 52-10 How much of a social security payment is exempt?

SECTION 52-15 Supplementary amounts of payments

SECTION 52-20 Tax-free amount of an ordinary payment after the death of your partner

SECTION 52-25 Tax-free amount of certain bereavement lump sum payments

SECTION 52-30 Tax-free amount of certain other bereavement lump sum payments

SECTION 52-35 Tax-free amount of a lump sum payment made because of the death of a person you are caring for

SECTION 52-40 Provisions of the Social Security Act 1991 under which payments are made

SECTION 52-60 What this Subdivision is about

SECTION 52-65 How much of a veterans ' affairs payment is exempt?

SECTION 52-70 Supplementary amounts of payments

SECTION 52-75 Provisions of the Veterans ' Entitlements Act 1986 under which payments are made

SECTION 52-105 Supplementary amount of a payment made under the Repatriation Act 1920 is exempt

SECTION 52-110 Other exempt payments

SECTION 52-114 How much of a payment under the Military Rehabilitation and Compensation Act is exempt?

SECTION 52-117 Payments of travelling expenses and pharmaceutical supplement are exempt

SECTION 52-120 Payments of travelling expenses and pharmaceutical supplement are exempt

SECTION 52-120 Child care assistance and child care rebate are exempt

SECTION 52-125 Private health insurance incentive payments are exempt

SECTION 52-130 What this Subdivision is about

SECTION 52-131 Payments under ABSTUDY scheme

SECTION 52-132 Supplementary amount of payment

SECTION 52-133 Tax-free amount of ordinary payment on death of partner if no bereavement payment payable

SECTION 52-134 Tax-free amount if you receive a bereavement lump sum payment

SECTION 52-140 Supplementary amount of a Commonwealth education or training payment is exempt

SECTION 52-145 Meaning of Commonwealth education or training payment

SECTION 52-150 Family assistance payments are exempt

SECTION 52-160 Economic security strategy payments are exempt

SECTION 52-162 ETR payments are exempt

SECTION 52-165 Household stimulus payments are exempt

SECTION 52-170 Outer Regional and Remote payments under the Helping Children with Autism package are exempt

SECTION 52-172 Outer Regional and Remote payments under the Better Start for Children with Disability initiative are exempt

SECTION 52-175 Continence aids payments are exempt

SECTION 52-180 National Disability Insurance Scheme amounts are exempt

SECTION 53-1 What this Division is about

SECTION 53-10 Exemption of various types of payments

SECTION 53-15 Supplementary amount of exceptional circumstances relief payment or farm help income support

SECTION 53-20 Exemption of similar Australian and United Kingdom veterans' payments

SECTION 53-25 Coronavirus economic response payment

SECTION 53-30 Territories Stolen Generations Redress Scheme payments are exempt

SECTION 54-1 What this Division is about

SECTION 54-5 Definitions

SECTION 54-10 Meaning of structured settlement and structured order

SECTION 54-15 Personal injury annuity exemption for injured person

SECTION 54-20 Lump sum compensation etc. would not have been assessable

SECTION 54-25 Requirements of the annuity instrument

SECTION 54-30 Requirements for payments of the annuity

SECTION 54-35 Payments during the guarantee period on the death of the injured person

SECTION 54-40 Requirement for minimum monthly level of support

SECTION 54-45 Personal injury lump sum exemption for injured person

SECTION 54-50 Lump sum compensation would not have been assessable

SECTION 54-55 Requirements of the instrument under which the lump sum is paid

SECTION 54-60 Requirements for payments of the lump sum

SECTION 54-65 Exemption for certain payments to reversionary beneficiaries

SECTION 54-70 Special provisions about trusts

SECTION 54-75 Minister to arrange for review and report

SECTION 55-5 Occupational superannuation payments

SECTION 55-10 Education entry payments

SECTION 58-5 Application of Division

SECTION 58-10 When an asset is acquired in connection with the acquisition of a business

SECTION 58-60 Purpose of rules in this Subdivision

SECTION 58-65 Choice of method to work out cost of privatised asset

SECTION 58-70 Application of Division 40

SECTION 58-75 Meaning of notional written down value

SECTION 58-80 Meaning of undeducted pre-existing audited book value

SECTION 58-85 Pre-existing audited book value of depreciating asset

SECTION 58-90 Method and effective life for transition entity

SECTION 59-5 Bonus payments made to certain older Australians

SECTION 59-10 Compensation under firearms surrender arrangements

SECTION 59-15 Mining payments

SECTION 59-20 Taxable amounts relating to franchise fees windfall tax

SECTION 59-25 Taxable amounts relating to Commonwealth places windfall tax

SECTION 59-30 Amounts you must repay

SECTION 59-35 Amounts that would be mutual receipts but for prohibition on distributions to members or issue of MCIs

SECTION 59-40 Issue of rights

SECTION 59-45 Tax bonus for the 2007-08 income year

SECTION 59-50 Native title benefits

SECTION 59-55 2019-20 bushfires - payments for volunteer work with fire services

SECTION 59-60 2019-20 bushfires - disaster relief payments and non-cash benefits

SECTION 59-65 Water infrastructure improvement payments

SECTION 59-67 Meaning of SRWUIP program, SRWUIP payment, direct SRWUIP payment and indirect SRWUIP payment

SECTION 59-70 List of SRWUIP programs

SECTION 59-75 Commissioner to be kept informed

SECTION 59-80 Amending assessments

SECTION 59-85 2019 floods - recovery grants for small businesses, primary producers and non-profit organisations

SECTION 59-86 2019 floods - on-farm grant program for primary producers

SECTION 59-90 Cash flow boost

SECTION 59-95 Coronavirus economic response payment

SECTION 59-96 COVID-19 disaster payment

SECTION 59-97 State and Territory grants to small business relating to the recovery from the coronavirus known as COVID-19

SECTION 59-98 Commonwealth small business support payments relating to the coronavirus known as COVID-19

SECTION 59-99 2021 floods and storms - recovery grants

SECTION 59-100 Refund of large-scale generation shortfall charge

SECTION 61-1 What this Subdivision is about

SECTION 61-5 Object of this Subdivision

SECTION 61-10 Who is entitled to the tax offset

SECTION 61-15 Cases involving more than one spouse

SECTION 61-20 Exceeding the income limit for family tax benefit (Part B)

SECTION 61-25 Eligibility for family tax benefit (Part B) without shared care

SECTION 61-30 Amount of the dependant (invalid and carer) tax offset

SECTION 61-35 Families with shared care percentages

SECTION 61-40 Reduced amounts of dependant (invalid and carer) tax offset

SECTION 61-45 Reductions to take account of the other individual ' s income

SECTION 61-100 What this Subdivision is about

SECTION 61-105 Entitlement to the Low and Middle Income tax offset

SECTION 61-107 Amount of the Low and Middle Income tax offset

SECTION 61-110 Entitlement to the Low Income tax offset

SECTION 61-115 Amount of the Low Income tax offset

SECTION 61-200 What this Subdivision is about

SECTION 61-205 Entitlement to the private health insurance tax offset

SECTION 61-210 Amount of the private health insurance tax offset

SECTION 61-215 Reallocation of the private health insurance tax offset between spouses

SECTION 61-220 How to work out the incentive amount

SECTION 61-330 What this Subdivision is about

SECTION 61-335 Entitlement to the private health insurance tax offset

SECTION 61-340 Amount of the private health insurance tax offset

SECTION 61-342 Saving provision where a person 65 years or over ceases to be covered by policy

SECTION 61-345 How to work out the incentive amount

SECTION 61-355 Who is entitled to a tax offset under this section

SECTION 61-360 What is a child event?

SECTION 61-365 First child only

SECTION 61-370 Another carer with entitlement for another child

SECTION 61-375 Selection rules

SECTION 61-380 Special rules for death of first child

SECTION 61-385 You may transfer your entitlement to a tax offset

SECTION 61-390 Transfer is irrevocable

SECTION 61-395 Transferor is not entitled to tax offset

SECTION 61-400 Transferee is entitled to tax offset

SECTION 61-405 How to claim a tax offset for a child

SECTION 61-410 Claim is irrevocable

SECTION 61-415 Formula for working out amount of tax offset

SECTION 61-420 Component of formula - entitlement amount

SECTION 61-425 Component of formula - total of the entitlement days

SECTION 61-430 What is your base year?

SECTION 61-440 Additional tax offset if a child is in your care before you legally adopt the child

SECTION 61-445 When a child is first in your care

SECTION 61-450 What is your base year if a child is in your care before you legally adopt the child?

SECTION 61-455 Old Subdivision applies if you would be worse off

SECTION 61-465 Object of this Subdivision

SECTION 61-470 Who is entitled to the tax offset

SECTION 61-475 Meaning of approved child care

SECTION 61-480 Meaning of entitled to child care benefit and entitlement to child care benefit

SECTION 61-485 Amount of the child care tax offset

SECTION 61-490 Component of formula - approved child care fees

SECTION 61-495 Component of formula - child care offset limit

SECTION 61-496 Entitlement to transfer

SECTION 61-497 Form of transfer

Subdivision 61-J - 25% entrepreneurs ' tax offset

SECTION 61-555 Object of this Subdivision

SECTION 61-560 Entitlement to the mature age worker tax offset

SECTION 61-565 The amount of the tax offset

SECTION 61-570 Definition of net income from working

SECTION 61-575 What this Subdivision is about

SECTION 61-580 Entitlement to a tax offset

SECTION 61-585 The amount of a tax offset

SECTION 61-590 Definition of MLS lump sums

SECTION 61-600 What this Subdivision is about

SECTION 61-610 Entitlement to education expenses tax offset

SECTION 61-620 Eligibility in respect of another individual

SECTION 61-630 Schooling requirement

SECTION 61-640 Education expenses

SECTION 61-650 Amount of education expenses tax offset

SECTION 61-660 Education expenses tax offset limit

SECTION 61-670 Shared care

SECTION 61-680 Excess education expenses

SECTION 61-695 What this Subdivision is about

SECTION 61-700 Object of this Subdivision

SECTION 61-705 Who is entitled to the seafarer tax offset

SECTION 61-710 Amount of the seafarer tax offset

SECTION 61-750 What this Subdivision is about

SECTION 61-755 Object of this Subdivision

SECTION 61-760 Who is entitled to the ESVCLP tax offset

SECTION 61-765 Amount of the ESVCLP tax offset - general case

SECTION 61-770 Amount of the ESVCLP tax offset - members of trusts or partnerships

SECTION 61-775 Amount of the ESVCLP tax offset - trustees

SECTION 63-1 What this Division is about

SECTION 63-10 Priority rules

SECTION 65-20 Which tax offsets this Division applies to

SECTION 65-25 When you can carry forward a tax offset

SECTION 65-30 Amount carried forward

SECTION 65-35 How to apply carried forward tax offsets

SECTION 65-40 When a company cannot apply a tax offset

SECTION 65-50 Effect of bankruptcy

SECTION 65-55 Deduction for amounts paid for debts incurred before bankruptcy

SECTION 67-20 Which tax offsets this Division applies to

SECTION 67-23 Refundable tax offsets

SECTION 67-25 Refundable tax offsets - franked distributions

SECTION 67-30 Refundable tax offsets - R & D

SECTION 67-35 Amount of refund

SECTION 70-5 The 3 key features of tax accounting for trading stock

SECTION 70-10 Meaning of trading stock

SECTION 70-12 Registered emissions units

SECTION 70-15 In which income year do you deduct an outgoing for trading stock?

SECTION 70-20 Non-arm ' s length transactions

SECTION 70-25 Cost of trading stock is not a capital outgoing

SECTION 70-30 Starting to hold as trading stock an item you already own

SECTION 70-35 You include the value of your trading stock in working out your assessable income and deductions

SECTION 70-40 Value of trading stock at start of income year

SECTION 70-45 Value of trading stock at end of income year

SECTION 70-50 Valuation if trading stock obsolete etc.

SECTION 70-55 Working out the cost of natural increase of live stock

SECTION 70-60 Valuation of horse breeding stock

SECTION 70-65 Working out the horse opening value and the horse reduction amount

SECTION 70-70 Valuing interests in FIFs

SECTION 70-80 Why the rules in this Subdivision are necessary

SECTION 70-85 Application of this Subdivision to certain other assets

SECTION 70-90 Assessable income on disposal of trading stock outside the ordinary course of business

SECTION 70-95 Purchase price is taken to be market value

SECTION 70-100 Notional disposal when you stop holding an item as trading stock

SECTION 70-105 Death of owner

SECTION 70-110 You stop holding an item as trading stock but still own it

SECTION 70-115 Compensation for lost trading stock

SECTION 70-120 Deducting capital costs of acquiring trees

SECTION 80-5 Holding of an office

SECTION 80-10 Application to the termination of employment

SECTION 80-15 Transfer of property

SECTION 80-20 Payments for your benefit or at your direction or request

SECTION 82-1 What this Division is about

SECTION 82-5 What this Subdivision is about

SECTION 82-10 Taxation of life benefit termination payments

SECTION 82-60 What this Subdivision is about

SECTION 82-65 Death benefits for dependants

SECTION 82-70 Death benefits for non-dependants

SECTION 82-75 Death benefits paid to trustee of deceased estate

SECTION 82-125 What this Subdivision is about

SECTION 82-130 What is an employment termination payment ?

SECTION 82-135 Payments that are not employment termination payments

SECTION 82-140 Tax free component of an employment termination payment

SECTION 82-145 Taxable component of an employment termination payment

SECTION 82-150 What is an invalidity segment of an employment termination payment?

SECTION 82-155 What is a pre-July 83 segment of an employment termination payment?

SECTION 82-160 What is the ETP cap amount ?

SECTION 83-1 What this Division is about

SECTION 83-5 What this Subdivision is about

SECTION 83-10 Unused annual leave payment is assessable

SECTION 83-15 Entitlement to tax offset

SECTION 83-65 What this Subdivision is about

SECTION 83-70 Application - long service leave

SECTION 83-75 Meaning of unused long service leave payment

SECTION 83-80 Taxation of unused long service leave payments

SECTION 83-85 Entitlement to tax offset

SECTION 83-90 Meaning of pre-16/8/78 period, pre-18/8/93 period, post-17/8/93 period and long service leave employment period

SECTION 83-95 How to work out amount of payment attributable to each period

SECTION 83-100 How to work out unused days of long service leave for each period

SECTION 83-105 How to work out long service leave accrued in each period

SECTION 83-110 Leave accrued in pre-16/8/78, pre-18/8/93 and post-17/8/93 periods - employment full-time and part-time

SECTION 83-115 Working out used days of long service leave if leave taken at less than full pay

SECTION 83-165 What this Subdivision is about

SECTION 83-170 Tax-free treatment of genuine redundancy payments and early retirement scheme payments

SECTION 83-175 What is a genuine redundancy payment ?

SECTION 83-180 What is an early retirement scheme payment ?

SECTION 83-230 What this Subdivision is about

SECTION 83-235 Termination payments tax free - foreign resident period

SECTION 83-240 Termination payments tax free - Australian resident period

SECTION 83-290 What this Subdivision is about

SECTION 83-295 Termination payments made more than 12 months after termination etc.

SECTION 83A-1 What this Division is about

SECTION 83A-5 Objects of Division

SECTION 83A-10 Meaning of ESS interest and employee share scheme

SECTION 83A-15 What this Subdivision is about

SECTION 83A-20 Application of Subdivision

SECTION 83A-25 Discount to be included in assessable income

SECTION 83A-30 Amount for which discounted ESS interest acquired

SECTION 83A-33 Reducing amounts included in assessable income - start ups

SECTION 83A-35 Reducing amounts included in assessable income - other cases

SECTION 83A-45 Further conditions for reducing amounts included in assessable income

SECTION 83A-100 What this Subdivision is about

SECTION 83A-105 Application of Subdivision

SECTION 83A-110 Amount to be included in assessable income

SECTION 83A-115 ESS deferred taxing point - shares

SECTION 83A-120 ESS deferred taxing point - rights to acquire shares

SECTION 83A-125 Tax treatment of ESS interests held after ESS deferred taxing points

SECTION 83A-130 Takeovers and restructures

SECTION 83A-200 What this Subdivision is about

SECTION 83A-205 Deduction for employer

SECTION 83A-210 Timing of general deductions

SECTION 83A-305 Acquisition by associates

SECTION 83A-310 Forfeiture etc. of ESS interest

SECTION 83A-315 Market value of ESS interest

SECTION 83A-320 Interests in a trust

SECTION 83A-325 Application of Division to relationships similar to employment

SECTION 83A-330 Application of Division to ceasing employment

SECTION 83A-335 Application of Division to stapled securities

SECTION 83A-340 Application of Division to indeterminate rights

SECTION 84-1 What this Part is about

SECTION 84-5 Meaning of personal services income

SECTION 84-10 This Part does not imply that individuals are employees

SECTION 85-5 Object of this Division

SECTION 85-10 Deductions for non-employees relating to personal services income

SECTION 85-15 Deductions for rent, mortgage interest, rates and land tax

SECTION 85-20 Deductions for payments to associates etc.

SECTION 85-25 Deductions for superannuation for associates

SECTION 85-30 Exception: personal services businesses

SECTION 85-35 Exception: employees, office holders and religious practitioners

SECTION 85-40 Application of Subdivision 900-B to individuals who are not employees

SECTION 86-1 What this Division is about

SECTION 86-5 A simple description of what this Division does

SECTION 86-10 Object of this Division

SECTION 86-15 Effect of obtaining personal services income through a personal services entity

SECTION 86-20 Offsetting the personal services entity ' s deductions against personal services income

SECTION 86-25 Apportionment of entity maintenance deductions among several individuals

SECTION 86-27 Deduction for net personal services income loss

SECTION 86-30 Assessable income etc. of the personal services entity

SECTION 86-35 Later payments of, or entitlements to, personal services income to be disregarded for income tax purposes

SECTION 86-40 Salary payments shortly after an income year

SECTION 86-60 General rule for deduction entitlements of personal services entities

SECTION 86-65 Entity maintenance deductions

SECTION 86-70 Car expenses

SECTION 86-75 Superannuation

SECTION 86-80 Salary or wages promptly paid

SECTION 86-85 Deduction entitlements of personal services entities for amounts included in an individual's assessable income

SECTION 86-87 Personal services entity cannot deduct net personal services income loss

SECTION 86-90 Application of Divisions 28 and 900 to personal services entities

SECTION 87-1 What this Division is about

SECTION 87-5 Diagram showing the operation of this Division

SECTION 87-10 Object of this Division

SECTION 87-15 What is a personal services business?

SECTION 87-18 The results test for a personal services business

SECTION 87-20 The unrelated clients test for a personal services business

SECTION 87-25 The employment test for a personal services business

SECTION 87-30 The business premises test for a personal services business

SECTION 87-35 Personal services income from Australian government agencies

SECTION 87-40 Application of this Division to certain agents

SECTION 87-55 Effect of personal services business determinations

SECTION 87-60 Personal services business determinations for individuals

SECTION 87-65 Personal services business determinations for personal services entities

SECTION 87-70 Applying etc. for personal services business determinations

SECTION 87-75 When personal services business determinations have effect

SECTION 87-80 Revoking personal services business determinations

SECTION 87-85 Review of decisions

SECTION 100-5
to
SECTION 727-910

SECTION 100-5 Effect of this Division

SECTION 100-10 Fundamentals of CGT

SECTION 100-15 Overview of Steps 1 and 2

SECTION 100-20 What events attract CGT?

SECTION 100-25 What are CGT assets?

SECTION 100-30 Does an exception or exemption apply?

SECTION 100-33 Can there be a roll-over?

SECTION 100-35 What is a capital gain or loss?

SECTION 100-40 What factors come into calculating a capital gain or loss?

SECTION 100-45 How to calculate the capital gain or loss for most CGT events

SECTION 100-50 How to work out your net capital gain or loss

SECTION 100-55 How do you comply with CGT?

SECTION 100-60 Why keep records?

SECTION 100-65 What records?

SECTION 100-70 How long you need to keep records

SECTION 102-1 What this Division is about

SECTION 102-3 Concessions in working out your net capital gain

SECTION 102-5 Assessable income includes net capital gain

SECTION 102-10 How to work out your net capital loss

SECTION 102-15 How to apply net capital losses

SECTION 102-20 Ways you can make a capital gain or a capital loss

SECTION 102-22 Amounts of capital gains and losses

SECTION 102-23 CGT event still happens even if gain or loss disregarded

SECTION 102-25 Order of application of CGT events

SECTION 102-30 Exceptions and modifications

SECTION 103-5 Giving property as part of a transaction

SECTION 103-10 Entitlement to receive money or property

SECTION 103-15 Requirement to pay money or give property

SECTION 103-20 Amounts to be expressed in Australian currency

SECTION 103-25 Choices

SECTION 103-30 Reduction of cost base etc. by net input tax credits

SECTION 104-1 What this Division is about

SECTION 104-5 Summary of the CGT events

SECTION 104-10 Disposal of a CGT asset: CGT event A1

SECTION 104-15 Use and enjoyment before title passes: CGT event B1

SECTION 104-20 Loss or destruction of a CGT asset: CGT event C1

SECTION 104-25 Cancellation, surrender and similar endings: CGT event C2

SECTION 104-30 End of option to acquire shares etc.: CGT event C3

SECTION 104-35 Creating contractual or other rights: CGT event D1

SECTION 104-40 Granting an option: CGT event D2

SECTION 104-45 Granting a right to income from mining: CGT event D3

SECTION 104-47 Conservation covenants: CGT event D4

SECTION 104-55 Creating a trust over a CGT asset: CGT event E1

SECTION 104-60 Transferring a CGT asset to a trust: CGT event E2

SECTION 104-65 Converting a trust to a unit trust: CGT event E3

SECTION 104-70 Capital payment for trust interest: CGT event E4

SECTION 104-71 Adjustment of non-assessable part

SECTION 104-72 Reducing your capital gain under CGT event E4 if you are a trustee

SECTION 104-75 Beneficiary becoming entitled to a trust asset: CGT event E5

SECTION 104-80 Disposal to beneficiary to end income right: CGT event E6

SECTION 104-85 Disposal to beneficiary to end capital interest: CGT event E7

SECTION 104-90 Disposal by beneficiary of capital interest: CGT event E8

SECTION 104-95 Making a capital gain

SECTION 104-100 Making a capital loss

SECTION 104-105 Creating a trust over future property: CGT event E9

SECTION 104-107A AMIT - cost base reduction exceeds cost base: CGT event E10

SECTION 104-107B Annual cost base adjustment for member ' s unit or interest in AMIT

SECTION 104-107C AMIT cost base net amount

SECTION 104-107D AMIT cost base reduction amount

SECTION 104-107E AMIT cost base increase amount

SECTION 104-107F Receipt of money etc. increasing AMIT cost base reduction amount not to be treated as income

SECTION 104-107G Effect of AMIT cost base net amount on cost of AMIT membership interest or unit that is a revenue asset - adjustment of cost of asset

SECTION 104-107H Effect of AMIT cost base net amount on cost of AMIT membership interest or unit that is a revenue asset - amount included in assessable income

SECTION 104-110 Granting a lease: CGT event F1

SECTION 104-115 Granting a long-term lease: CGT event F2

SECTION 104-120 Lessor pays lessee to get lease changed: CGT event F3

SECTION 104-125 Lessee receives payment for changing lease: CGT event F4

SECTION 104-130 Lessor receives payment for changing lease: CGT event F5

SECTION 104-135 Capital payment for shares: CGT event G1

SECTION 104-140 Shifts in share values: CGT event G2

SECTION 104-145 Liquidator or administrator declares shares or financial instruments worthless: CGT event G3

SECTION 104-150 Forfeiture of deposit: CGT event H1

SECTION 104-155 Receipt for event relating to a CGT asset: CGT event H2

SECTION 104-160 Individual or company stops being an Australian resident: CGT event I1

SECTION 104-165 Exception for individuals

SECTION 104-166 Subsection 104-165(1) still applies if you continue to be a short term Australian resident

SECTION 104-170 Trust stops being a resident trust: CGT event I2

SECTION 104-175 Company ceasing to be member of wholly-owned group after roll-over: CGT event J1

SECTION 104-180 Sub-group break-up

SECTION 104-182 Consolidated group break-up

SECTION 104-185 Change in relation to replacement asset or improved asset after a roll-over under Subdivision 152-E: CGT event J2

SECTION 104-190 Replacement asset period

SECTION 104-195 Trust failing to cease to exist after roll-over under Subdivision 124-N: CGT event J4

SECTION 104-197 Failure to acquire replacement asset and to incur fourth element expenditure after a roll-over under Subdivision 152-E: CGT event J5

SECTION 104-198 Cost of acquisition of replacement asset or amount of fourth element expenditure, or both, not sufficient to cover disregarded capital gain: CGT event J6

SECTION 104-205 Incoming international transfer of emissions unit: CGT event K1

SECTION 104-210 Bankrupt pays amount in relation to debt: CGT event K2

SECTION 104-215 Asset passing to tax-advantaged entity: CGT event K3

SECTION 104-220 CGT asset starts being trading stock: CGT event K4

SECTION 104-225 Special collectable losses: CGT event K5

SECTION 104-230 Pre-CGT shares or trust interest: CGT event K6

SECTION 104-235 Balancing adjustment events for depreciating assets and certain assets used for R & D: CGT event K7

SECTION 104-240 Working out capital gain or loss for CGT event K7: general case

SECTION 104-245 Working out capital gain or loss for CGT event K7: pooled assets

SECTION 104-250 Direct value shifts: CGT event K8

SECTION 104-255 Carried interests: CGT event K9

SECTION 104-260 Certain short-term forex realisation gains: CGT event K10

SECTION 104-265 Certain short-term forex realisation losses: CGT event K11

SECTION 104-270 Foreign hybrids: CGT event K12

SECTION 104-500 Loss of pre-CGT status of membership interests in entity becoming subsidiary member: CGT event L1

SECTION 104-505 Where pre-formation intra-group roll-over reduction results in negative allocable cost amount: CGT event L2

SECTION 104-510 Where tax cost setting amounts for retained cost base assets exceeds joining allocable cost amount: CGT event L3

SECTION 104-515 Where no reset cost base assets and excess of net allocable cost amount on joining: CGT event L4

SECTION 104-520 Where amount remaining after step 4 of leaving allocable cost amount is negative: CGT event L5

SECTION 104-525 Error in calculation of tax cost setting amount for joining entity ' s assets: CGT event L6

SECTION 104-530 Discharged amount of liability differs from amount for allocable cost amount purposes: CGT event L7

SECTION 104-535 Where reduction in tax cost setting amounts for reset cost base assets cannot be allocated: CGT event L8

SECTION 106-1 What this Division is about

SECTION 106-5 Partnerships

SECTION 106-30 Effect of bankruptcy

SECTION 106-35 Effect of liquidation

SECTION 106-50 Absolutely entitled beneficiaries

SECTION 106-60 Securities, charges and encumbrances

SECTION 108-1 What this Division is about

SECTION 108-5 CGT assets

SECTION 108-7 Interest in CGT assets as joint tenants

SECTION 108-10 Losses from collectables to be offset only against gains from collectables

SECTION 108-15 Sets of collectables

SECTION 108-17 Cost base of a collectable

SECTION 108-20 Losses from personal use assets must be disregarded

SECTION 108-25 Sets of personal use assets

SECTION 108-30 Cost base of a personal use asset

SECTION 108-50 What this Subdivision is about

SECTION 108-55 When is a building a separate asset from land?

SECTION 108-60 Depreciating asset that is part of a building is a separate asset

SECTION 108-65 Land adjacent to land acquired before 20 September 1985

SECTION 108-70 When is a capital improvement a separate asset?

SECTION 108-75 Capital improvements to CGT assets for which a roll-over may be available

SECTION 108-80 Deciding if capital improvements are related to each other

SECTION 108-85 Meaning of improvement threshold

SECTION 109-1 What this Division is about

SECTION 109-5 General acquisition rules

SECTION 109-10 When you acquire a CGT asset without a CGT event

SECTION 109-15 Exceptions

SECTION 109-50 Effect of this Subdivision

SECTION 109-55 Other acquisition rules

SECTION 109-60 Acquisition rules outside this Part and Part 3-3

SECTION 110-1 What this Division is about

SECTION 110-5 Modifications to general rules

SECTION 110-10 Rules about cost base not relevant for some CGT events

SECTION 110-25 General rules about cost base

SECTION 110-30 Cost base of partnership assets

SECTION 110-35 Incidental costs

SECTION 110-36 Indexation

SECTION 110-37 Expenditure forming part of cost base or element

SECTION 110-38 Exclusions

SECTION 110-40 Assets acquired before 7.30 pm on 13 May 1997

SECTION 110-43 Partnership interests acquired before 7.30 pm on 13 May 1997

SECTION 110-45 Assets acquired after 7.30 pm on 13 May 1997

SECTION 110-50 Partnership interests acquired after 7.30 pm on 13 May 1997

SECTION 110-53 Exceptions to application of sections 110-45 and 110-50

SECTION 110-54 Debt deductions disallowed by thin capitalisation rules

SECTION 110-55 General rules about reduced cost base

SECTION 110-60 Reduced cost base for partnership assets

SECTION 112-1 What this Division is about

SECTION 112-5 Discussion of modifications

SECTION 112-15 General rule for replacement modifications

SECTION 112-20 Market value substitution rule

SECTION 112-25 Split, changed or merged assets

SECTION 112-30 Apportionment rules

SECTION 112-35 Assumption of liability rule

SECTION 112-36 Acquisitions of assets involving look-through earnout rights

SECTION 112-37 Put options

SECTION 112-38 Geothermal extraction rights

SECTION 112-40 Effect of this Subdivision

SECTION 112-45 CGT events

SECTION 112-46 Annual cost base adjustment for member ' s unit or interest in AMIT

SECTION 112-48 Gifts acquired by associates

SECTION 112-50 Main residence

SECTION 112-53 Scrip for scrip roll-over

SECTION 112-53AA Statutory licences

SECTION 112-53AB Change of incorporation

SECTION 112-53A MDO roll-over

SECTION 112-53B Exchange of stapled ownership interests for units in a unit trust

SECTION 112-53C Water entitlement roll-overs

SECTION 112-54 Demergers

SECTION 112-54A Transfer of assets between certain trusts

SECTION 112-55 Effect of you dying

SECTION 112-60 Bonus shares or units

SECTION 112-65 Rights

SECTION 112-70 Convertible interests

SECTION 112-75 Employee share schemes

SECTION 112-77 Exchangeable interests

SECTION 112-78 Exploration investments

SECTION 112-80 Leases

SECTION 112-85 Options

SECTION 112-87 Residency

SECTION 112-90 An asset stops being a pre-CGT asset

SECTION 112-92 Demutualisation of certain entities

SECTION 112-95 Transfer of tax losses and net capital losses within wholly-owned groups of companies

SECTION 112-97 Modifications outside this Part and Part 3-3

SECTION 112-100 Effect of this Subdivision

SECTION 112-105 What is a replacement-asset roll-over?

SECTION 112-110 How is the cost base of the replacement asset modified?

SECTION 112-115 Table of replacement-asset roll-overs

SECTION 112-135 Effect of this Subdivision

SECTION 112-140 What is a same-asset roll-over?

SECTION 112-145 How is the cost base of the asset modified?

SECTION 112-150 Table of same-asset roll-overs

SECTION 114-1 Indexing elements of cost base

SECTION 114-5 When indexation relevant

SECTION 114-10 Requirement for 12 months ownership

SECTION 114-15 Cost base modifications

SECTION 114-20 When expenditure is incurred for roll-overs

SECTION 115-1 What this Division is about

SECTION 115-5 What is a discount capital gain ?

SECTION 115-10 Who can make a discount capital gain?

SECTION 115-15 Discount capital gain must be made after 21 September 1999

SECTION 115-20 Discount capital gain must not have indexed cost base

SECTION 115-25 Discount capital gain must be on asset acquired at least 12 months before

SECTION 115-30 Special rules about time of acquisition

SECTION 115-32 Special rule about time of acquisition for certain replacement-asset roll-overs

SECTION 115-34 Further special rule about time of acquisition for certain replacement-asset roll-overs

SECTION 115-40 Capital gain resulting from agreement made within a year of acquisition

SECTION 115-45 Capital gain from equity in an entity with newly acquired assets

SECTION 115-50 Discount capital gain from equity in certain entities

SECTION 115-55 Capital gains involving money received from demutualisation of friendly society health or life insurer

SECTION 115-60 Discount capital gain from CGT event E4

SECTION 115-100 What is the discount percentage for a discount capital gain

SECTION 115-105 Foreign or temporary residents - individuals with direct gains

SECTION 115-110 Foreign or temporary residents - individuals with trust gains

SECTION 115-115 Foreign or temporary residents - percentage for individuals

SECTION 115-120 Foreign or temporary residents - trusts with certain gains

SECTION 115-125 Investors disposing of property used for affordable housing

SECTION 115-200 What this Division is about

SECTION 115-210 When this Subdivision applies

SECTION 115-215 Assessing presently entitled beneficiaries

SECTION 115-220 Assessing trustees under section 98 of the Income Tax Assessment Act 1936

SECTION 115-222 Assessing trustees under section 99 or 99A of the Income Tax Assessment Act 1936

SECTION 115-225 Attributable gain

SECTION 115-227 Share of a capital gain

SECTION 115-228 Specifically entitled to an amount of a capital gain

SECTION 115-230 Choice for resident trustee to be specifically entitled to capital gain

SECTION 115-280 Deduction for certain dividends

SECTION 115-285 Meaning of LIC capital gain

SECTION 115-290 Meaning of listed investment company

SECTION 115-295 Maintaining records

SECTION 116-5 General rules

SECTION 116-10 Modifications to general rules

SECTION 116-20 General rules about capital proceeds

SECTION 116-25 Table of modifications to the general rules

SECTION 116-30 Market value substitution rule: modification 1

SECTION 116-35 Companies and trusts that are not widely held

SECTION 116-40 Apportionment rule: modification 2

SECTION 116-45 Non-receipt rule: modification 3

SECTION 116-50 Repaid rule: modification 4

SECTION 116-55 Assumption of liability rule: modification 5

SECTION 116-60 Misappropriation rule: modification 6

SECTION 116-65 Disposal etc. of a CGT asset the subject of an option

SECTION 116-70 Option requiring both acquisition and disposal etc.

SECTION 116-75 Special rule for CGT event happening to a lease

SECTION 116-80 Special rule if CGT asset is shares or an interest in a trust

SECTION 116-85 Section 47A of 1936 Act applying to rolled-over asset

SECTION 116-95 Company changes residence from an unlisted country

SECTION 116-100 Gifts of property

SECTION 116-105 Conservation covenants

SECTION 116-110 Roll-overs for merging superannuation funds

SECTION 116-115 Farm-in farm-out arrangements

SECTION 116-120 Disposals of assets involving look-through earnout rights

SECTION 118-1 What this Division is about

SECTION 118-5 Cars, motor cycles and valour decorations

SECTION 118-10 Collectables and personal use assets

SECTION 118-12 Assets used to produce exempt income etc.

SECTION 118-13 Shares in a PDF

SECTION 118-15 Registered emissions units

SECTION 118-20 Reducing capital gains if amount otherwise assessable

SECTION 118-21 Carried interests

SECTION 118-22 Superannuation lump sums and employment termination payments

SECTION 118-24 Depreciating assets

SECTION 118-25 Trading stock

SECTION 118-27 Division 230 financial arrangements and financial arrangements to which Subdivision 250-E applies

SECTION 118-30 Film copyright

SECTION 118-35 R & D

SECTION 118-37 Compensation, damages etc.

SECTION 118-40 Expiry of a lease

SECTION 118-42 Transfer of stratum units

SECTION 118-45 Sale of rights to mine

SECTION 118-55 Foreign currency hedging gains and losses

SECTION 118-60 Certain gifts

SECTION 118-65 Later distributions of personal services income

SECTION 118-70 Transactions by exempt entities

SECTION 118-75 Marriage or relationship breakdown settlements

SECTION 118-77 Native title and rights to native title benefits

SECTION 118-80 Reduction of boat capital gain

SECTION 118-85 Special disability trusts

SECTION 118-105 Map of this Subdivision

SECTION 118-110 Basic case

SECTION 118-115 Meaning of dwelling

SECTION 118-120 Extension to adjacent land etc.

SECTION 118-125 Meaning of ownership period

SECTION 118-130 Meaning of ownership interest in land or a dwelling

SECTION 118-135 Moving into a dwelling

SECTION 118-140 Changing main residences

SECTION 118-145 Absences

SECTION 118-147 Absence from dwelling replacing main residence that was compulsorily acquired, destroyed etc.

SECTION 118-150 If you build, repair or renovate a dwelling

SECTION 118-155 Where individual referred to in section 118-150 dies

SECTION 118-160 Destruction of dwelling and sale of land

SECTION 118-165 Separate CGT event for adjacent land or other structures

SECTION 118-170 Spouse having different main residence

SECTION 118-175 Dependent child having different main residence

SECTION 118-178 Previous roll-over under Subdivision 126-A

SECTION 118-180 Acquisition of dwelling from company or trust on marriage or relationship breakdown - roll-over provision applying

SECTION 118-185 Partial exemption where dwelling was your main residence during part only of ownership period

SECTION 118-190 Use of dwelling for producing assessable income

SECTION 118-192 Special rule for first use to produce income

SECTION 118-195 Dwelling acquired from a deceased estate

SECTION 118-197 Special rule for surviving joint tenant

SECTION 118-200 Partial exemption for deceased estate dwellings

SECTION 118-205 Adjustment if dwelling inherited from deceased individual

SECTION 118-210 Trustee acquiring dwelling under will

SECTION 118-215 What the following provisions are about

SECTION 118-218 Exemption available to trustee - main case

SECTION 118-220 Exemption available to trustee - after the principal beneficiary ' s death

SECTION 118-222 Exemption available to other beneficiary who acquires the CGT asset after the principal beneficiary ' s death

SECTION 118-225 Amount of exemption available after the principal beneficiary ' s death - general

SECTION 118-227 Amount of exemption available after the principal beneficiary ' s death - cost base and reduced cost base

SECTION 118-230 Application of CGT events E5 and E7 in relation to main residence exemption and special disability trusts

SECTION 118-240 What the following provisions are about

SECTION 118-245 CGT events happening only to adjacent land

SECTION 118-250 Compulsory acquisitions of adjacent land

SECTION 118-255 Maximum exempt area

SECTION 118-260 Partial exemption rules

SECTION 118-265 Extension to adjacent structures

[ Subdivision 118-C - Goodwill]

SECTION 118-300 Insurance policies

SECTION 118-305 Superannuation

SECTION 118-310 RSA's

SECTION 118-313 Superannuation agreements under the Family Law Act

SECTION 118-315 Segregated exempt assets of life insurance companies

SECTION 118-320 Segregated current pension assets of a complying superannuation entity

SECTION 118-350 Units in pooled superannuation trusts

SECTION 118-355 Segregated exempt superannuation assets of pooled superannuation trust

SECTION 118-405 Exemption for certain foreign venture capital investments through venture capital limited partnerships

SECTION 118-407 Exemption for certain venture capital investments through early stage venture capital limited partnerships

SECTION 118-408 Partial exemption for some capital gains otherwise fully exempt under section 118-407

SECTION 118-410 Exemption for certain foreign venture capital investments through Australian venture capital funds of funds

SECTION 118-415 Exemption for certain venture capital investments by foreign residents

SECTION 118-420 Meaning of eligible venture capital partner etc.

SECTION 118-425 Meaning of eligible venture capital investment - investments in companies

SECTION 118-427 Meaning of eligible venture capital investment - investments in unit trusts

SECTION 118-428 Additional investment requirements for ESVCLPs

SECTION 118-430 Meaning of at risk

SECTION 118-432 Findings of substantially novel applications of technology

SECTION 118-435 Special rule relating to investment in foreign resident holding companies

SECTION 118-440 Meaning of permitted entity value

SECTION 118-445 Meaning of committed capital

SECTION 118-450 Values of assets and investments of entities without auditors

SECTION 118-455 Impact Assessment of this Subdivision

SECTION 118-505 Exemption for certain foreign venture capital

SECTION 118-510 Meaning of resident investment vehicle

SECTION 118-515 Meaning of venture capital entity

SECTION 118-520 Meaning of superannuation fund for foreign residents

SECTION 118-525 Meaning of venture capital equity

SECTION 118-550 Demutualisation of Tower Corporation

SECTION 118-560 Object

SECTION 118-565 Look-through earnout rights

SECTION 118-570 Extra ways a CGT asset can be an active asset

SECTION 118-575 Creating and ending look-through earnout rights

SECTION 118-580 Temporarily disregard capital losses affected by look-through earnout rights

SECTION 121-20 What records you must keep

SECTION 121-25 How long you must retain the records

SECTION 121-30 Exceptions

SECTION 121-35 Asset register entries

SECTION 122-1 What this Division is about

SECTION 122-15 Disposal or creation of assets - wholly-owned company

SECTION 122-20 What you receive for the trigger event

SECTION 122-25 Other requirements to be satisfied

SECTION 122-35 What if the company undertakes to discharge a liability (disposal case)

SECTION 122-37 Rules for working out what a liability in respect of an asset is

SECTION 122-40 Disposal of a CGT asset

SECTION 122-45 Disposal of all the assets of a business

SECTION 122-50 All assets acquired on or after 20 September 1985

SECTION 122-55 All assets acquired before 20 September 1985

SECTION 122-60 Assets acquired before and after 20 September 1985

SECTION 122-65 Creation of asset

SECTION 122-70 Consequences for the company (disposal case)

SECTION 122-75 Consequences for the company (creation case)

SECTION 122-125 Disposal or creation of assets - wholly-owned company

SECTION 122-130 What the partners receive for the trigger event

SECTION 122-135 Other requirements to be satisfied

SECTION 122-140 What if the company undertakes to discharge a liability (disposal case)

SECTION 122-145 Rules for working out what a liability in respect of an interest in an asset is

SECTION 122-150 Capital gain or loss disregarded

SECTION 122-155 Disposal of post-CGT or pre-CGT interests

SECTION 122-160 Disposal of both post-CGT and pre-CGT interests

SECTION 122-170 Capital gain or loss disregarded

SECTION 122-175 Other consequences

SECTION 122-180 All interests acquired on or after 20 September 1985

SECTION 122-185 All interests acquired before 20 September 1985

SECTION 122-190 Interests acquired before and after 20 September 1985

SECTION 122-195 Creation of asset

SECTION 122-200 Consequences for the company (disposal case)

SECTION 122-205 Consequences for the company (creation case)

[ Division 123 - Small business roll-over]

SECTION 124-1 What this Division is about

SECTION 124-5 How to find your way around this Division

SECTION 124-10 Your ownership of one CGT asset ends

SECTION 124-15 Your ownership of more than one CGT asset ends

SECTION 124-20 Share and interest sale facilities

SECTION 124-70 Events giving rise to a roll-over

SECTION 124-75 Other requirements if you receive money

SECTION 124-80 Other requirements if you receive an asset

SECTION 124-85 Consequences for receiving money

SECTION 124-90 Consequences for receiving an asset

SECTION 124-95 You receive both money and an asset

SECTION 124-140 New statutory licences

SECTION 124-145 Rollover consequences - capital gain or loss disregarded

SECTION 124-150 Rollover consequences - partial roll-over

SECTION 124-155 Roll-over consequences - all original licences were post-CGT

SECTION 124-160 Roll-over consequences - all original licences were pre-CGT

SECTION 124-165 Roll-over consequences - some original licences were pre-CGT, others were post-CGT

SECTION 124-190 Strata title conversion

SECTION 124-240 Exchange of shares in the same company

SECTION 124-245 Exchange of units in the same unit trust

SECTION 124-295 Exchange of rights or option to acquire shares in a company

SECTION 124-300 Exchange of rights or option to acquire units in a unit trust

SECTION 124-355 Summary of rules

SECTION 124-360 Disposal of shares in one company for shares in another one

SECTION 124-365 Other requirements to be satisfied

SECTION 124-370 Redemption or cancellation of shares in one company for shares in another one

SECTION 124-375 Other requirements to be satisfied

SECTION 124-380 Requirements to be satisfied in both cases

SECTION 124-382 Special rules for ADI restructures

SECTION 124-385 Consequences for the interposed company

SECTION 124-390 Deferral of profit or loss on shares

SECTION 124-440 Summary of rules

SECTION 124-445 Disposal of units in a unit trust for shares in a company

SECTION 124-450 Other requirements to be satisfied

SECTION 124-455 Redemption or cancellation of units in a unit trust for shares in a company

SECTION 124-460 Other requirements to be satisfied

SECTION 124-465 Requirements to be satisfied in both cases

SECTION 124-470 Consequences for the company

SECTION 124-510 What this Subdivision is about

SECTION 124-515 Object of this Subdivision

SECTION 124-520 Change of incorporation without change of entity

SECTION 124-525 Old corporation wound up

SECTION 124-530 Shares in company replacing pre-CGT and post-CGT mix of interest and rights in body

SECTION 124-535 Rights as member of Indigenous corporation replacing pre-CGT and post-CGT mix of interest and rights in body

SECTION 124-575 Extension or renewal of Crown lease

SECTION 124-580 Meaning of Crown lease

SECTION 124-585 Original right differs in area from new right

SECTION 124-590 Part of original right excised

SECTION 124-595 Treating parts of new right as separate assets

SECTION 124-600 What is the roll-over?

SECTION 124-605 Change of lessor

SECTION 124-655 Roll-over for depreciating assets

SECTION 124-660 Right granted to associate

SECTION 124-705 Extension or renewal of prospecting or mining entitlement

SECTION 124-710 Meaning of prospecting entitlement and mining entitlement

SECTION 124-715 Original entitlement differs in area from new entitlement

SECTION 124-720 Part of original entitlement excised

SECTION 124-725 Treating parts of new entitlement as separate assets

SECTION 124-730 What is the roll-over?

SECTION 124-780 Replacement of shares

SECTION 124-781 Replacement of trust interests

SECTION 124-782 Transfer or allocation of cost base of shares acquired by acquiring entity etc.

SECTION 124-783 Meaning of significant stakeholder , common stakeholder , significant stake and common stake

SECTION 124-783A Rights that affect stakes

SECTION 124-784 Cost base of equity or debt given within acquiring group

SECTION 124-784A When arrangement is a restructure

SECTION 124-784B What is the cost base and reduced cost base when arrangement is a restructure?

SECTION 124-784C Cost base of equity or debt given within acquiring group

SECTION 124-785 What is the roll-over?

SECTION 124-790 Partial roll-over

SECTION 124-795 Exceptions

SECTION 124-800 Interest received for pre-CGT interest

SECTION 124-805 Meaning of trust voting interest

SECTION 124-810 Certain companies and trusts not regarded as having 300 members or beneficiaries

SECTION 124-855 What this Subdivision deals with

SECTION 124-860 Requirements for roll-over

SECTION 124-865 Entities both choose the roll-over

SECTION 124-870 Roll-over for owner of units or interests in a trust

SECTION 124-875 Effect on the transferor and transferee

SECTION 124-880 Old licence roll-over (same owner)

SECTION 124-885 Qualified licence roll-over (same owner)

SECTION 124-890 Rights roll-over (same owner)

SECTION 124-895 Consequences of a same owner roll-over

SECTION 124-900 Old licence roll-over (new owner)

SECTION 124-905 Qualified licence roll-over (new owner)

SECTION 124-910 Rights roll-over (new owner)

SECTION 124-915 Consequences of a new owner roll-over (where one CGT asset comes to an end)

SECTION 124-920 Consequences of a new owner roll-over (where more than one CGT asset comes to an end)

SECTION 124-925 Special extension of the 10 March 2004 cut-off date (same owner roll-overs)

SECTION 124-930 Special extension of the 10 March 2004 cut-off date (new owner roll-overs)

SECTION 124-975 What this Subdivision is about

SECTION 124-980 Exchange of membership interests in an MDO

SECTION 124-985 What the roll-over is for post-CGT interests

SECTION 124-990 Partial roll-over

SECTION 124-995 Pre-CGT interests

SECTION 124-1040 What this Subdivision is about

SECTION 124-1045 Exchange of stapled securities

SECTION 124-1050 Conditions

SECTION 124-1055 Consequences of the roll-over for exchanging members

SECTION 124-1060 Consequences of the roll-over for interposed trust

SECTION 124-1065 Certain foreign holders disregarded

SECTION 124-1100 What this Subdivision is about

SECTION 124-1105 Replacement water entitlements roll-over

SECTION 124-1110 Roll-over consequences - capital gain or loss disregarded

SECTION 124-1115 Roll-over consequences - partial roll-over

SECTION 124-1120 Roll-over consequences - all original entitlements post-CGT

SECTION 124-1125 Roll-over consequences - all original entitlements pre-CGT

SECTION 124-1130 Roll-over consequences - some original entitlements pre-CGT, others post-CGT

SECTION 124-1135 Reduction in water entitlements roll-over

SECTION 124-1140 Roll-over consequences - capital gain or loss disregarded

SECTION 124-1145 Roll-over consequences - all original entitlements post-CGT

SECTION 124-1150 Roll-over consequences - some original entitlements pre-CGT, others post-CGT

SECTION 124-1155 Roll-over for variation to CGT asset

SECTION 124-1160 Roll-over consequences

SECTION 124-1165 Roll-over consequences - partial roll-over

SECTION 124-1220 What this Subdivision is about

SECTION 124-1225 Disposals of interests under interest realignment arrangements

SECTION 124-1230 Roll-over consequences - partial roll-over

SECTION 124-1235 Roll-over consequences - all original interests were post-CGT and pre-UCA

SECTION 124-1240 Roll-over consequences - all original interests were pre-CGT

SECTION 124-1245 Roll-over consequences - original interests were of mixed CGT status, all were pre-UCA

SECTION 124-1250 Roll-over consequences - some original interests were pre-UCA

SECTION 125-1 What this Division is about

SECTION 125-5 Object of this Division

SECTION 125-55 When a roll-over is available for a demerger

SECTION 125-60 Meaning of ownership interest and related terms

SECTION 125-65 Meanings of demerger group , head entity and demerger subsidiary

SECTION 125-70 Meanings of demerger , demerged entity and demerging entity

SECTION 125-75 Exceptions to subsection 125-70(2)

SECTION 125-80 What is the roll-over?

SECTION 125-85 Cost base adjustments where CGT event happens but no roll-over chosen

SECTION 125-90 Cost base adjustments where no CGT event

SECTION 125-95 No other cost base adjustment after demerger

SECTION 125-100 No further demerger relief in some cases

SECTION 125-155 Certain capital gains or losses disregarded for demerging entity

SECTION 125-160 No CGT event J1

SECTION 125-165 Adjusted capital loss for value shift under a demerger

SECTION 125-170 Reduced cost base reduction if demerger asset subject to roll-over

SECTION 125-230 Application of Division to public trading trusts

SECTION 125-235 Share and interest sale facilities

SECTION 126-1 What this Division is about

SECTION 126-5 CGT event involving spouses

SECTION 126-15 CGT event involving company or trustee

SECTION 126-20 Subsequent CGT event happening to roll-over asset where transferor was a CFC or a non-resident trust

SECTION 126-25 Conditions for the purposes of subsections 126-5(3A) and 126-15(5)

SECTION 126-45 Roll-over for members of wholly-owned group

SECTION 126-50 Requirements for roll-over

SECTION 126-55 When there is a roll-over

SECTION 126-60 Consequences of roll-over

SECTION 126-65 Choosing for no roll-over in loss situation

SECTION 126-70 Loss disregarded if intention not realised

SECTION 126-75 Originating company is a CFC

SECTION 126-80 Roll-over asset is an interest in a CFC or FIF

SECTION 126-85 Effect of roll-over on certain liquidations

SECTION 126-130 Changes to trust deeds

SECTION 126-135 Consequences of roll-over

SECTION 126-140 CGT event involving small superannuation funds

SECTION 126-190 When there is a roll-over

SECTION 126-195 Consequences of roll-over

SECTION 126-205 Object of this Subdivision

SECTION 126-210 When there is a roll-over and what its effects are

SECTION 126-215 What this Subdivision is about

SECTION 126-220 Object of this Subdivision

SECTION 126-225 When a roll-over may be chosen

SECTION 126-230 Beneficiaries ' entitlements not be discretionary etc.

SECTION 126-235 Exceptions for roll-over

SECTION 126-240 Consequences for the trusts

SECTION 126-245 Consequences for beneficiaries - general approach for working out cost base etc.

SECTION 126-250 Consequences for beneficiaries - other approach for working out cost base etc.

SECTION 126-255 No other cost base etc. adjustment for beneficiaries

SECTION 126-260 Giving information to beneficiaries

SECTION 126-265 Interest sale facilities

SECTION 128-10 Capital gain or loss when you die is disregarded

SECTION 128-15 Effect on the legal personal representative or beneficiary

SECTION 128-20 When does an asset pass to a beneficiary?

SECTION 128-25 The beneficiary is a trustee of a superannuation fund etc.

SECTION 128-50 Joint tenants

SECTION 130-1 What this Division is about

SECTION 130-15 Acquisition time and cost base of bonus equities

SECTION 130-20 Issue of bonus shares or units

SECTION 130-40 Exercise of rights

SECTION 130-45 Timing rules

SECTION 130-50 Application to options

SECTION 130-60 Shares or units acquired by converting a convertible interest

SECTION 130-75 Objects of Subdivision

SECTION 130-80 ESS interests acquired under employee share schemes

SECTION 130-85 Interests in employee share trusts

SECTION 130-90 Shares held by employee share trusts

SECTION 130-95 Shares and rights in relation to ESS interests

SECTION 130-97 Application of certain provisions of Division 83A

SECTION 130-100 Exchangeable interest

SECTION 130-105 Shares acquired in exchange for the disposal or redemption of an exchangeable interest

SECTION 130-110 Reducing the reduced cost base before disposal

SECTION 132-1 Lessee incurs expenditure to get lease term varied or waived

SECTION 132-5 Lessor pays lessee for improvements

SECTION 132-10 Grant of a long-term lease

SECTION 132-15 Lessee of land acquires reversionary interest of lessor

SECTION 134-1 Exercise of options

[ Division 136 - Foreign residents]

SECTION 137-10 Meaning of key terms

SECTION 137-15 CGT event does not happen when a certain kind of granny flat arrangement is entered into

SECTION 137-20 CGT event does not happen when a certain kind of granny flat arrangement is varied

SECTION 137-25 CGT event does not happen when a certain kind of granny flat arrangement is terminated

[ Division 138 - Value shifts between companies under common ownership]

[ Division 139 - Value shifting through debt forgiveness]

[ Division 140 - Share value shifting]

SECTION 149-10 What is a pre-CGT asset?

SECTION 149-15 Majority underlying interests in a CGT asset

SECTION 149-25 Which entities are affected

SECTION 149-30 Effects if asset no longer has same majority underlying ownership

SECTION 149-35 Cost base elements of asset that stops being a pre-CGT asset

SECTION 149-50 Which entities are affected

SECTION 149-55 Entity to give the Commissioner evidence periodically as to whether asset still has same majority underlying ownership

SECTION 149-60 What the evidence must show

SECTION 149-65 Effects of not making the determination

SECTION 149-70 Effects if asset no longer has same majority underlying ownership

SECTION 149-75 Cost base elements of asset that stops being a pre-CGT asset

SECTION 149-80 No more evidence needed after asset stops being a pre-CGT asset

[ Subdivision 149-D - How to treat holdings of less than 1% in certain entities]

[ Subdivision 149-E - How to treat certain interposed funds, companies and government bodies]

SECTION 149-162 Subdivision applies only if entity gives sufficient evidence

SECTION 149-165 Members treated as having underlying interests in assets until demutualisation

SECTION 149-170 Effect of demutualisation of interposed company

SECTION 152-10 Basic conditions for relief

SECTION 152-12 Special conditions for CGT event D1

SECTION 152-15 Maximum net asset value test

SECTION 152-20 Meaning of net value of the CGT assets

SECTION 152-25 Meaning of small business CGT affiliate

SECTION 152-30 Meaning of connected with the entity

SECTION 152-35 Active asset test

SECTION 152-40 Meaning of active asset

SECTION 152-42 Trustee of discretionary trust may nominate beneficiaries to be controllers of trust

SECTION 152-45 Continuing time periods for involuntary disposals

SECTION 152-47 Spouses or children taken to be affiliates for certain passively held CGT assets

SECTION 152-48 Working out an entity ' s aggregated turnover for passively held CGT assets

SECTION 152-49 Businesses that are winding up

SECTION 152-50 Significant individual test

SECTION 152-55 Meaning of significant individual

SECTION 152-60 Meaning of CGT concession stakeholder

SECTION 152-65 Small business participation percentage

SECTION 152-70 Direct small business participation percentage

SECTION 152-75 Indirect small business participation percentage

SECTION 152-78 Trustee of discretionary trust may nominate beneficiaries to be controllers of trust

SECTION 152-80 CGT event happens to an asset or interest within 2 years of individual ' s death

SECTION 152-105 15-year exemption for individuals

SECTION 152-110 15-year exemption for companies and trusts

SECTION 152-115 Continuing time periods for involuntary disposals

SECTION 152-120 Discretionary trusts need not have a significant individual in a loss year or nil income year

SECTION 152-125 Payments to company ' s or trust ' s CGT concession stakeholders are exempt

SECTION 152-205 You get the small business 50% reduction

SECTION 152-210 You may also get the small business retirement exemption and small business roll-over relief

SECTION 152-215 15-year rule has priority

SECTION 152-220 You may choose not to apply this Subdivision

SECTION 152-305 Choosing the exemption

SECTION 152-310 Consequences of choice

SECTION 152-315 Choosing the amount to disregard

SECTION 152-320 Meaning of CGT retirement exemption limit

SECTION 152-325 Company or trust conditions

SECTION 152-330 15-year rule has priority

SECTION 152-400 What this Subdivision is about

SECTION 152-405 Basic principles for the small business roll-over

SECTION 152-410 When you can obtain the roll-over

SECTION 152-415 What the roll-over consists of

SECTION 152-420 Rules where an individual who has obtained a roll-over dies

SECTION 152-425 Rules where an individual who has obtained a roll-over dies

SECTION 152-430 15-year rule has priority

SECTION 160-1 What this Division is about

SECTION 160-5 Entitlement to loss carry back tax offset

SECTION 160-10 Amount of loss carry back tax offset

SECTION 160-15 Loss carry back choice

SECTION 160-16 Changing a loss carry back choice

SECTION 160-20 Entity must have had turnover less than $5 billion for loss year

SECTION 160-25 Entity must have been a corporate tax entity during relevant years

SECTION 160-30 Transferred tax losses, income tax liabilities etc. not included

SECTION 160-35 Integrity rule - no loss carry back tax offset if scheme entered into

SECTION 164-5 Object

SECTION 164-10 Non-share capital account

SECTION 164-15 Credits to non-share capital account

SECTION 164-20 Debits to non-share capital account

SECTION 165-1 What this Division is about

SECTION 165-5 What this Subdivision is about

SECTION 165-10 To deduct a tax loss

SECTION 165-12 Company must maintain the same owners

SECTION 165-13 Alternatively, the company must satisfy the business continuity test

SECTION 165-15 The same people must control the voting power, or the company must satisfy the business continuity test

SECTION 165-20 When company can deduct part of a tax loss

SECTION 165-35 On a change of ownership, unless the company satisfies the business continuity test

SECTION 165-37 Who has more than a 50% stake in the company during a period

SECTION 165-40 On a change of control of the voting power in the company, unless the company satisfies the business continuity test

SECTION 165-45 First, divide the income year into periods

SECTION 165-50 Next, calculate the notional loss or notional taxable income for each period

SECTION 165-55 How to attribute deductions to periods

SECTION 165-60 How to attribute assessable income to periods

SECTION 165-65 How to calculate the company's taxable income for the income year

SECTION 165-70 How to calculate the company's tax loss for the income year

SECTION 165-75 How to calculate the company's notional loss or notional taxable income for a period when the company was a partner

SECTION 165-80 How to calculate the company's share of a partnership's notional loss or notional net income for a period if both entities have the same income year

SECTION 165-85 How to calculate the company's share of a partnership's notional loss or notional net income for a period if the entities have different income years

SECTION 165-90 Company's full year deductions include a share of partnership's full year deductions

SECTION 165-93 What this Subdivision is about

SECTION 165-96 When a company cannot apply a net capital loss

SECTION 165-99 What this Subdivision is about

SECTION 165-102 On a change of ownership, or of control of voting power, unless the company satisfies the business continuity test

SECTION 165-105 First, divide the income year into periods

SECTION 165-108 Next, calculate the notional net capital gain or notional net capital loss for each period

SECTION 165-111 How to work out the company ' s net capital gain

SECTION 165-114 How to work out the company's net capital loss

SECTION 165-115 What this Subdivision is about

SECTION 165-115AA Special rules to save compliance costs

SECTION 165-115A Application of Subdivision

SECTION 165-115B What happens when the company makes a capital loss or becomes entitled to a deduction in respect of a CGT asset after a changeover time

SECTION 165-115BA What happens when a CGT event happens after a changeover time to a CGT asset of the company that is trading stock

SECTION 165-115BB Order of application of assets: residual unrealised net loss

SECTION 165-115C Changeover time - change in ownership of company

SECTION 165-115D Changeover time - change in control of company

SECTION 165-115E What is an unrealised net loss

SECTION 165-115F Notional gains and losses

SECTION 165-115G What this Subdivision is about

SECTION 165-115GA What this Subdivision is about

SECTION 165-115GB When adjustments must be made

SECTION 165-115GC How adjustments are calculated

SECTION 165-115H How this Subdivision applies

SECTION 165-115J Object of Subdivision

SECTION 165-115K Application and interpretation

SECTION 165-115L Alteration time - alteration in ownership of company

SECTION 165-115M Alteration time - alteration in control of company

SECTION 165-115N Alteration time - declaration by liquidator or administrator

SECTION 165-115P Notional alteration time - disposal of interests in company within 12 months before alteration time

SECTION 165-115Q Notional alteration time - disposal of interests in company earlier than 12 months before alteration time

SECTION 165-115R When company is a loss company at first or only alteration time in income year

SECTION 165-115S When company is a loss company at second or later alteration time in income year

SECTION 165-115T Reduction of certain amounts included in company's overall loss at alteration time

SECTION 165-115U Adjusted unrealised loss

SECTION 165-115V Notional losses

SECTION 165-115W Calculation of trading stock decrease

SECTION 165-115X Relevant equity interest

SECTION 165-115Y Relevant debt interest

SECTION 165-115Z What constitutes a controlling stake in a company

SECTION 165-115ZA Reductions and other consequences if entity has relevant equity interest or relevant debt interest in loss company immediately before alteration time

SECTION 165-115ZB Adjustment amounts for the purposes of section 165-115ZA

SECTION 165-115ZC Notices to be given

SECTION 165-115ZD Adjustment (or further adjustment) for interest realised at a loss after global method has been used

SECTION 165-119 Application of Subdivision

SECTION 165-120 To deduct a bad debt

SECTION 165-123 Company must maintain the same owners

SECTION 165-126 Alternatively, the company must satisfy the business continuity test

SECTION 165-129 Same people must control the voting power, or the company must satisfy the business continuity test

SECTION 165-132 When tax losses resulting from bad debts cannot be deducted

SECTION 165-150 Who has more than 50% of the voting power in the company

SECTION 165-155 Who has rights to more than 50% of the company ' s dividends

SECTION 165-160 Who has rights to more than 50% of the company's capital distributions

SECTION 165-165 Rules about tests for a condition or occurrence of a circumstance

SECTION 165-175 Tests can be satisfied by a single person

SECTION 165-180 Arrangements affecting beneficial ownership of shares

SECTION 165-185 Shares treated as not having carried rights

SECTION 165-190 Shares treated as always having carried rights

SECTION 165-195 Disregard redeemable shares

SECTION 165-200 Rules do not affect totals of shares, units in unit trusts or rights carried by shares and units

SECTION 165-202 Shares held by government entities and charities etc.

SECTION 165-203 Companies where no shares have been issued

SECTION 165-205 Death of share owner

SECTION 165-207 Trustees of family trusts

SECTION 165-208 Companies in liquidation etc.

SECTION 165-209 Dual listed companies

SECTION 165-210 The business continuity test - carrying on the same business

SECTION 165-211 The business continuity test - carrying on a similar business

SECTION 165-212A Some companies cannot satisfy the same business test

SECTION 165-212B Definition of total income

SECTION 165-212C Total income of companies who cannot work out their total income for a 12 month period

SECTION 165-212D Restructure of MDOs etc.

SECTION 165-212E Entry history rule does not apply for the purposes of sections 165-210 and 165-211

SECTION 165-215 Special alternative to change of ownership test for Subdivision 165-A

SECTION 165-220 Special alternative to change of ownership test for Subdivision 165-B

SECTION 165-225 Special way of dividing the income year under Subdivision 165-B

SECTION 165-230 Special alternative to change of ownership test for Subdivision 165-C

SECTION 165-235 Information about non-fixed trusts with interests in company

SECTION 165-240 Notices where requirements of section 165-235 are met

SECTION 165-245 When an entity has a fixed entitlement to income or capital of a company

SECTION 165-250 Control of companies in liquidation etc.

SECTION 165-255 Incomplete periods

SECTION 166-1 What this Division is about

SECTION 166-3 The object of this Division

SECTION 166-5 How Subdivision 165-A applies to a widely held or eligible Division 166 company

SECTION 166-15 Companies can choose that this Subdivision is not to apply to them

SECTION 166-20 How Subdivisions 165-B and 165-CB apply to a widely held or eligible Division 166 company

SECTION 166-25 How to work out the taxable income, tax loss, net capital gain and net capital loss

SECTION 166-35 Companies can choose that this Subdivision is not to apply to them

SECTION 166-40 How Subdivision 165-C applies to a widely held or eligible Division 166 company

SECTION 166-50 Companies can choose that this Subdivision is not to apply to them

SECTION 166-80 How Subdivision 165-CC or 165-CD applies to a widely held or eligible Division 166 company

SECTION 166-90 Companies can choose that this Subdivision is not to apply to them

SECTION 166-145 The ownership tests: substantial continuity of ownership

SECTION 166-165 Relationship with rules in Division 165

SECTION 166-175 Corporate change in a company

SECTION 166-220 Application of this Subdivision

SECTION 166-225 Direct stakes of less than 10% in the tested company

SECTION 166-230 Indirect stakes of less than 10% in the tested company

SECTION 166-235 Voting, dividend and capital stakes

SECTION 166-240 Stakes held directly and/or indirectly by widely held companies

SECTION 166-245 Stakes held by other entities

SECTION 166-255 Bearer shares in foreign listed companies

SECTION 166-260 Depository entities holding stakes in foreign listed companies

SECTION 166-265 Persons who actually control voting power or have rights are taken not to control power or have rights

SECTION 166-270 Single notional entity stakeholders taken to have minimum voting control, dividend rights and capital rights

SECTION 166-272 Same shares or interests to be held

SECTION 166-275 Rules in this Subdivision intended to be concessional

SECTION 166-280 Controlled test companies

SECTION 167-1 What this Division is about

SECTION 167-5 What this Subdivision is about

SECTION 167-7 Simplified outline of this Subdivision

SECTION 167-10 When this Subdivision applies

SECTION 167-15 First way - disregard debt interests

SECTION 167-20 Second way - also disregard secondary share classes

SECTION 167-25 Third way - treat remaining shares as having fixed rights to dividends and capital distributions

SECTION 167-30 Fixing rights if practicable to work out market values

SECTION 167-35 Fixing rights if impracticable to work out market values etc.

SECTION 167-40 The valuing times for conditions listed in subsection 167-10(1)

SECTION 167-75 What this Subdivision is about

SECTION 167-80 When this Subdivision applies

SECTION 167-85 Different method for working out voting power

SECTION 167-90 Dual listed companies

SECTION 170-1 What this Subdivision is about

SECTION 170-5 Basic principles for transferring tax losses

SECTION 170-10 When a company can transfer a tax loss

SECTION 170-15 Income company is taken to have incurred transferred loss

SECTION 170-20 Who can deduct transferred loss

SECTION 170-25 Tax treatment of consideration for transferred tax loss

SECTION 170-30 Companies must be in existence and members of the same wholly-owned group etc.

SECTION 170-32 Tax loss incurred by the loss company because of a transfer under Subdivision 707-A

SECTION 170-33 Alternative test of relations between the loss company and other companies

SECTION 170-35 The loss company

SECTION 170-40 The income company

SECTION 170-42 If the income company has become the head company of a consolidated group or MEC group

SECTION 170-45 Maximum amount that can be transferred

SECTION 170-50 Transfer by written agreement

SECTION 170-55 Losses must be transferred in order they are incurred

SECTION 170-60 Income company cannot transfer transferred tax loss

SECTION 170-65 Agreement transfers as much as can be transferred

SECTION 170-70 Amendment of assessments

SECTION 170-75 Treatment like Australian branches of foreign banks

SECTION 170-105 Basic principles for transferring a net capital loss

SECTION 170-110 When a company can transfer a net capital loss

SECTION 170-115 Who can apply transferred loss

SECTION 170-120 Gain company is taken to have made transferred loss

SECTION 170-125 Tax treatment of consideration for transferred tax loss

SECTION 170-130 Companies must be in existence and members of the same wholly-owned group etc.

SECTION 170-132 Net capital loss made by the loss company because of a transfer under Subdivision 707-A

SECTION 170-133 Alternative test of relations between the loss company and other companies

SECTION 170-135 The loss company

SECTION 170-140 The gain company

SECTION 170-142 If the gain company has become the head company of a consolidated group or MEC group

SECTION 170-145 Maximum amount that can be transferred

SECTION 170-150 Transfer by written agreement

SECTION 170-155 Losses must be transferred in order they are made

SECTION 170-160 Gain company cannot transfer transferred net capital loss

SECTION 170-165 Agreement transfers as much as can be transferred

SECTION 170-170 Amendment of assessments

SECTION 170-174 Treatment like Australian branches of foreign banks

SECTION 170-175 Direct and indirect interests in the loss company

SECTION 170-180 Direct and indirect interests in the gain company

SECTION 170-205 Object of Subdivision

SECTION 170-210 Transfer of tax loss: direct and indirect interests in the loss company

SECTION 170-215 Transfer of tax loss: direct and indirect interests in the income company

SECTION 170-220 Transfer of net capital loss: direct and indirect interests in the loss company

SECTION 170-225 Transfer of net capital loss: direct and indirect interests in the gain company

SECTION 170-255 Application of Subdivision

SECTION 170-260 Linked group

SECTION 170-265 Connected entity

SECTION 170-270 Immediate consequences for originating company

SECTION 170-275 Subsequent consequences for originating company

SECTION 170-280 What happens if certain events happen in respect of the asset

SECTION 175-1 What this Division is about

SECTION 175-5 When Commissioner can disallow deduction for tax loss

SECTION 175-10 First case: income or capital gain injected into company because of available tax loss

SECTION 175-15 Second case: someone else obtains a tax benefit because of tax loss available to company

SECTION 175-20 Income or capital gain injected into company because of available deductions

SECTION 175-25 Deduction injected into company because of available income or capital gain

SECTION 175-30 Someone else obtains a tax benefit because of a deduction, income or capital gain available to company

SECTION 175-35 Tax loss resulting from disallowed deductions

SECTION 175-40 When Commissioner can disallow net capital loss of earlier income year

SECTION 175-45 First case: capital gain injected into company because of available net capital loss

SECTION 175-50 Second case: someone else obtains a tax benefit because of net capital loss available to company

SECTION 175-55 When Commissioner can disallow capital loss of current year

SECTION 175-60 Capital gain injected into company because of available capital loss

SECTION 175-65 Capital loss injected into company because of available capital gain

SECTION 175-70 Someone else obtains a tax benefit because of capital loss or gain available to company

SECTION 175-75 Net capital loss resulting from disallowed capital losses

SECTION 175-80 When Commissioner can disallow deduction for bad debt

SECTION 175-85 First case: income or capital gain injected into company because of available bad debt

SECTION 175-90 Second case: someone else obtains a tax benefit because of bad debt deduction available to company

SECTION 175-95 When a person has a shareholding interest in the company

SECTION 175-100 Commissioner may disallow excluded losses etc. of insolvent companies

SECTION 180-5 Information about family trusts with interests in companies

SECTION 180-10 Notice where requirements of section 180-5 are met

SECTION 180-15 Information about family trusts with interests in companies

SECTION 180-20 Notice where requirements of section 180-15 are met

SECTION 195-1 What this Subdivision is about

SECTION 195-5 Deductibility of PDF tax losses

SECTION 195-10 PDF cannot transfer tax loss

SECTION 195-15 Tax loss for year in which company becomes a PDF

SECTION 195-25 Applying a PDF's net capital losses

SECTION 195-30 PDF cannot transfer net capital loss

SECTION 195-35 Net capital loss for year in which company becomes a PDF

SECTION 195-37 PDF cannot carry back tax loss

SECTION 195-60 What this Subdivision is about

SECTION 195-65 Tax losses cannot be transferred to a VCLP, an ESVCLP, an AFOF or a VCMP

SECTION 195-70 Previous tax losses can be deducted after ceasing to be a VCLP, an ESVCLP, an AFOF or a VCMP

SECTION 195-72 Tax losses cannot be carried back to before ceasing to be a VCLP, an ESVCLP, an AFOF or a VCMP

SECTION 195-75 Determinations to take account of income years of less than 12 months

SECTION 197-1 What this Division is about

SECTION 197-5 Division generally applies to an amount transferred to share capital account from another account

SECTION 197-10 Exclusion for amounts that could be identified as share capital

SECTION 197-15 Exclusion for amounts transferred under debt/equity swaps

SECTION 197-20 Exclusion for amounts transferred leading to there being no shares with a par value - non-Corporations Act companies

SECTION 197-25 Exclusion for transfers from option premium reserves

SECTION 197-30 Exclusion for transfers made in connection with demutualisations of non-insurance etc. companies

SECTION 197-35 Exclusion for transfers made in connection with demutualisations of insurance etc. companies

SECTION 197-37 Exclusion for transfers made in connection with demutualisations of private health insurers

SECTION 197-38 Exclusion for transfers connected with demutualisations of friendly society health or life insurers

SECTION 197-40 Exclusion for post-demutualisation transfers relating to life insurance companies

SECTION 197-42 Exclusion for exploration credits

SECTION 197-45 A franking debit arises in relation to the transfer

SECTION 197-50 The share capital account becomes tainted (if it is not already tainted)

SECTION 197-55 Choosing to untaint a tainted share capital account

SECTION 197-60 Choosing to untaint - liability to untainting tax

SECTION 197-65 Choosing to untaint - further franking debits may arise

SECTION 197-70 Due date for payment of untainting tax

SECTION 197-75 General interest charge for late payment of untainting tax

SECTION 197-80 Notice of liability to pay untainting tax

SECTION 197-85 Evidentiary effect of notice of liability to pay untainting tax

SECTION 200-5 The imputation system

SECTION 200-10 Franking a distribution

SECTION 200-15 The franking account

SECTION 200-20 How a distribution is franked

SECTION 200-25 A corporate tax entity must not give its members credit for more tax than the entity has paid

SECTION 200-30 Benchmark rule

SECTION 200-35 Effect of receiving a franked distribution

SECTION 200-40 An Australian corporate tax entity can pass the benefit of having received a franked distribution on to its members

SECTION 200-45 Special rules for franking by some entities

SECTION 201-1 Objects

SECTION 201-5 Application of this Part

SECTION 202-5 Franking a distribution

SECTION 202-15 Franking entities

SECTION 202-20 Residency requirement when making a distribution

SECTION 202-35 Object

SECTION 202-40 Frankable distributions

SECTION 202-45 Unfrankable distributions

SECTION 202-47 Distributions of certain ADI profits following restructure

SECTION 202-50 What this Subdivision is about

SECTION 202-55 What is the maximum franking credit for a frankable distribution?

SECTION 202-60 Amount of the franking credit on a distribution

SECTION 202-65 Where the franking credit stated in the distribution statement exceeds the maximum franking credit for the distribution

SECTION 202-75 Obligation to give a distribution statement

SECTION 202-80 Distribution statement

SECTION 202-85 Changing the franking credit on a distribution by amending the distribution statement

SECTION 203-5 Benchmark rule

SECTION 203-10 Benchmark franking percentage

SECTION 203-15 Object

SECTION 203-20 Application of the benchmark rule

SECTION 203-25 Benchmark rule

SECTION 203-30 Setting a benchmark franking percentage

SECTION 203-35 Franking percentage

SECTION 203-40 Franking periods - where the entity is not a private company

SECTION 203-45 Franking period - private companies

SECTION 203-50 Consequences of breaching the benchmark rule

SECTION 203-55 Commissioner ' s powers to permit a departure from the benchmark rule

SECTION 204-1 Objects

SECTION 204-5 Application

SECTION 204-15 Linked distributions

SECTION 204-25 Substituting tax-exempt bonus shares for franked distributions

SECTION 204-30 Streaming distributions

SECTION 204-35 When does a franking debit arise if the Commissioner makes a determination under paragraph 204-30(3)(a)

SECTION 204-40 Amount of the franking debit

SECTION 204-41 Amount of the exempting debit

SECTION 204-45 Effect of a determination about distributions to favoured members

SECTION 204-50 Assessment and notice of determination

SECTION 204-55 Right to review where a determination made

SECTION 204-70 Application of this Subdivision

SECTION 204-75 Notice to the Commissioner

SECTION 204-80 Commissioner may require information where the Commissioner suspects streaming

SECTION 205-5 Franking accounts, franking deficit tax liabilities and the related tax offset

SECTION 205-10 Each entity that is or has been a corporate tax entity has a franking account

SECTION 205-15 Franking credits

SECTION 205-20 Paying a PAYG instalment, income tax or diverted profits tax

SECTION 205-25 Residency requirement for an event giving rise to a franking credit or franking debit

SECTION 205-30 Franking debits

SECTION 205-35 Refund of income tax or diverted profits tax

SECTION 205-40 Franking surplus and deficit

SECTION 205-45 Franking deficit tax

SECTION 205-50 Deferring franking deficit

SECTION 205-70 Tax offset arising from franking deficit tax liabilities

SECTION 207-5 Overview

SECTION 207-15 Applying the general rule

SECTION 207-20 General rule - gross-up and tax offset

SECTION 207-30 Applying this Subdivision

SECTION 207-35 Gross-up - distribution made to, or flows indirectly through, a partnership or trustee

SECTION 207-37 Attributable franked distribution - trusts

SECTION 207-45 Tax offset - distribution flows indirectly to an entity

SECTION 207-50 When a franked distribution flows indirectly to or through an entity

SECTION 207-55 Share of a franked distribution

SECTION 207-57 Share of the franking credit on a franked distribution

SECTION 207-58 Specifically entitled to an amount of a franked distribution

SECTION 207-59 Franked distributions within class treated as single franked distribution

SECTION 207-65 Satisfying the residency requirement

SECTION 207-70 Gross-up and tax offset under section 207-20

SECTION 207-75 Residency requirement

SECTION 207-85 Applying this Subdivision

SECTION 207-90 Distribution that is made to an entity

SECTION 207-95 Distribution that flows indirectly to an entity

SECTION 207-105 What this Subdivision is about

SECTION 207-110 Effect of non-assessable income on gross up and tax offset

SECTION 207-115 Which exempt institutions are eligible for a refund?

SECTION 207-117 Residency requirement

SECTION 207-119 Entity not treated as exempt institution eligible for refund in certain circumstances

SECTION 207-120 Entity may be ineligible because of a distribution event

SECTION 207-122 Entity may be ineligible if distribution is in the form of property other than money

SECTION 207-124 Entity may be ineligible if other money or property also acquired

SECTION 207-125 Gross-up and tax offset allowed because entity is an exempt institution that is entitled to a refund

SECTION 207-126 Entity may be ineligible if distributions do not match trust share amounts

SECTION 207-128 Reinvestment choice

SECTION 207-130 Controller ' s liability

SECTION 207-132 Treatment of benefits provided by an entity to a controller

SECTION 207-134 Entity ' s present entitlement disregarded in certain circumstances

SECTION 207-136 Review of certain decisions

SECTION 207-140 What this Subdivision is about

SECTION 207-145 Distribution that is made to an entity

SECTION 207-150 Distribution that flows indirectly to an entity

SECTION 207-155 When is a distribution made as part of a dividend stripping operation?

SECTION 207-157 Distribution washing

SECTION 207-158 Distributions entitled to a foreign income tax deduction

SECTION 207-160 Distribution that is treated as an interest payment

SECTION 207-165 Interest payments - distributions that flow indirectly to the trustee of a trust

SECTION 207-170 Interest payments - distributions that flow indirectly to a partner in a partnership

SECTION 208-5 What is an exempting entity?

SECTION 208-10 Former exempting entities

SECTION 208-15 Distributions by exempting entities and former exempting entities

SECTION 208-20 Exempting entities

SECTION 208-25 Effective ownership of entity by prescribed persons

SECTION 208-30 Accountable membership interests

SECTION 208-35 Accountable partial interests

SECTION 208-40 Prescribed persons

SECTION 208-45 Persons who are taken to be prescribed persons

SECTION 208-50 Former exempting companies

SECTION 208-60 Franking with an exempting credit

SECTION 208-70 Amount of the exempting credit on a distribution

SECTION 208-80 Additional information to be included by a former exempting entity or exempting entity

SECTION 208-90 All frankable distributions made within a franking period must be franked to the same extent with an exempting credit

SECTION 208-95 Exempting percentage

SECTION 208-100 Consequences of breaching the rule in section 208-90

SECTION 208-110 Exempting account

SECTION 208-115 Exempting credits

SECTION 208-120 Exempting debits

SECTION 208-125 Exempting surplus and deficit

SECTION 208-130 Franking credits arising because of status as exempting entity or former exempting entity

SECTION 208-135 Relationships that will give rise to a franking credit under item 5 of the table in section 208-130

SECTION 208-140 Membership of the same effectively wholly-owned group

SECTION 208-145 Franking debits arising because of status as exempting entity or former exempting entity

SECTION 208-150 Residency requirement

SECTION 208-155 Eligible continuing substantial member

SECTION 208-160 Distributions that are affected by a manipulation of the imputation system

SECTION 208-165 Amount of the exempting credit or franking credit arising because of a distribution franked with an exempting credit

SECTION 208-170 Where a determination under paragraph 177EA(5)(b) of the Income Tax Assessment Act 1936 affects part of the distribution

SECTION 208-175 When does a distribution franked with an exempting credit flow indirectly to an entity?

SECTION 208-180 What is an entity ' s share of the exempting credit on a distribution?

SECTION 208-185 Minister may convert exempting surplus to franking credit of former exempting entity previously owned by the Commonwealth

SECTION 208-195 Division 207 does not generally apply

SECTION 208-200 Distributions to exempting entities

SECTION 208-205 Distributions to employees acquiring shares under eligible employee share schemes

SECTION 208-210 Subsidiaries

SECTION 208-215 Eligible employee share schemes

SECTION 208-225 Division 207 does not generally apply

SECTION 208-230 Distributions to exempting entities and former exempting entities

SECTION 208-235 Distributions to employees acquiring shares under eligible employee share schemes

SECTION 208-240 Distributions to certain individuals

SECTION 210-1 Purpose of venture capital franking

SECTION 210-5 How is this achieved?

SECTION 210-10 What is a venture capital credit?

SECTION 210-15 What does the PDF have to do to distribute the credits?

SECTION 210-20 Limits on venture capital franking

SECTION 210-30 Franking a distribution with a venture capital credit

SECTION 210-40 What is a participating PDF

SECTION 210-50 Which distributions can be franked with a venture capital credit?

SECTION 210-60 Amount of the venture capital credit on a distribution

SECTION 210-70 Additional information to be included when a distribution is franked with a venture capital credit

SECTION 210-80 Draining the venture capital surplus when a distribution frankable with venture capital credits is made

SECTION 210-81 Distributions to be franked with venture capital credits to the same extent

SECTION 210-82 Consequences of breaching the rule in section 210-81

SECTION 210-90 The venture capital sub-account

SECTION 210-95 Venture capital deficit tax

SECTION 210-100 Venture capital sub-account

SECTION 210-105 Venture capital credits

SECTION 210-110 Determining the extent to which a franking credit is reasonably attributable to a particular payment of tax

SECTION 210-115 Participating PDF may elect to have venture capital credits arise on its assessment day

SECTION 210-120 Venture capital debits

SECTION 210-125 Venture capital debit where CGT limit is exceeded

SECTION 210-130 Venture capital surplus and deficit

SECTION 210-135 Venture capital deficit tax

SECTION 210-140 Effect of a liability to pay venture capital deficit tax on franking deficit tax

SECTION 210-145 Effect of a liability to pay venture capital deficit tax on the franking account

SECTION 210-150 Deferring venture capital deficit

SECTION 210-160 The significance of a venture capital credit

SECTION 210-165 Recipients for whom the venture capital credit is not significant

SECTION 210-170 Tax offset for certain recipients of distributions franked with venture capital credits

SECTION 210-175 Amount of the tax offset

SECTION 210-180 Application of Division 207 where the recipient is entitled to a tax offset under section 210-170

SECTION 214-1 Purpose of the system

SECTION 214-5 Key features

SECTION 214-15 Requirement to give franking return - general

SECTION 214-20 Notice to a specific corporate tax entity

SECTION 214-25 Content and form of a franking return

SECTION 214-30 Franking account balance

SECTION 214-35 Venture capital sub-account balance

SECTION 214-40 Meaning of franking tax

SECTION 214-45 Effect of a refund on franking returns

SECTION 214-50 Evidence

SECTION 214-60 Commissioner may make a franking assessment

SECTION 214-65 Commissioner taken to have made a franking assessment on first return

SECTION 214-70 Part-year assessment

SECTION 214-75 Validity of assessment

SECTION 214-80 Objections

SECTION 214-85 Evidence

SECTION 214-95 Amendments within 3 years of the original assessment

SECTION 214-100 Amended assessments are treated as franking assessments

SECTION 214-105 Further return as a result of a refund affecting a franking deficit tax liability

SECTION 214-110 Later amendments - on request

SECTION 214-115 Later amendments - failure to make proper disclosure

SECTION 214-120 Later amendments - fraud or evasion

SECTION 214-125 Further amendment of an amended particular

SECTION 214-130 Other later amendments

SECTION 214-135 Amendment on review etc.

SECTION 214-140 Notice of amendments

SECTION 214-150 Due date for payment of franking tax

SECTION 214-155 General interest charge

SECTION 214-160 Refunds of amounts overpaid

SECTION 214-165 Security for payment of tax

SECTION 214-170 What this Subdivision is about

SECTION 214-175 Record keeping

SECTION 214-180 Power of Commissioner to obtain information

SECTION 214-185 Tax agents

SECTION 215-1 Application of the imputation system to non-share equity interests

SECTION 215-10 Certain non-share dividends by ADIs unfrankable

SECTION 215-15 Non-share dividends are unfrankable if profits are unavailable

SECTION 215-20 Working out the available frankable profits

SECTION 215-25 Anticipating available frankable profits

SECTION 216-1 When a distribution made to a member of a corporate tax entity is treated as having been made to someone else

SECTION 216-5 First situation (cum dividend sales)

SECTION 216-10 Second situation (securities lending arrangements)

SECTION 216-15 Distribution closing time

SECTION 216-20 Cum dividend sale - statement by securities dealer

SECTION 216-25 Cum dividend sale - statement by party

SECTION 216-30 Securities lending arrangements - statement by borrower

SECTION 218-5 Application of imputation rules to co-operative companies

SECTION 219-10 Application of imputation rules to life insurance companies

SECTION 219-15 Franking credits

SECTION 219-30 Franking debits

SECTION 219-40 Residency requirement

SECTION 219-45 Assessment day

SECTION 219-50 Amount attributable to shareholders ' share of income tax liability

SECTION 219-55 Adjustment resulting from an amended assessment

SECTION 219-70 Tax offset under section 205-70

SECTION 219-75 Working out franking credits and franking debits where a tax offset under section 205-70 is applied

SECTION 220-15 Objects

SECTION 220-20 What is an NZ resident ?

SECTION 220-25 Application of provisions of Part 3-6 outside this Division

SECTION 220-30 What is an NZ franking company ?

SECTION 220-35 Making an NZ franking choice

SECTION 220-40 When is an NZ franking choice in force?

SECTION 220-45 Revoking an NZ franking choice

SECTION 220-50 Cancelling an NZ franking choice

SECTION 220-100 Residency requirement for franking

SECTION 220-105 Unfrankable distributions by NZ franking companies

SECTION 220-110 Maximum franking credit under section 202-60

SECTION 220-200 Keeping franking accounts in Australian currency

SECTION 220-205 Franking credit for payment of NZ franking company's withholding tax liability

SECTION 220-210 Effect of franked distribution to NZ franking company or flowing indirectly to NZ franking company

SECTION 220-215 Effect on franking account if NZ franking choice ceases to be in force

SECTION 220-300 NZ franking company ' s franking account affected by franking accounts of some of its 100% subsidiaries

SECTION 220-350 Providing for a franking credit to arise

SECTION 220-400 Gross-up and tax offset for distribution from NZ franking company reduced by supplementary dividend

SECTION 220-405 Franked distribution and supplementary dividend flowing indirectly

SECTION 220-410 Franking credit reduced if tax offset reduced

SECTION 220-500 Publicly listed post-choice NZ franking company and its 100% subsidiaries are not exempting entities

SECTION 220-505 Post-choice NZ franking company is not automatically prescribed person

SECTION 220-510 Parent company ' s status as prescribed person sets status of all other members of same wholly-owned group

SECTION 220-600 Keeping exempting accounts in Australian currency

SECTION 220-605 Effect on exempting account if NZ franking choice ceases to be in force

SECTION 220-700 Tax effect of distribution franked by NZ franking company with an exempting credit

SECTION 220-800 Joint and several liability for NZ resident company's franking tax etc.

SECTION 230-1 What this Division is about

SECTION 230-5 Scope of this Division

SECTION 230-10 Objects of this Division

SECTION 230-15 Gains are assessable and losses deductible

SECTION 230-20 Gain or loss to be taken into account only once under this Act

SECTION 230-25 Associated financial benefits to be taken into account only once under this Act

SECTION 230-30 Treatment of gains and losses related to exempt income and non-assessable non-exempt income

SECTION 230-35 Treatment of gains and losses of private or domestic nature

SECTION 230-40 Methods for taking gain or loss into account

SECTION 230-45 Financial arrangement

SECTION 230-50 Financial arrangement (equity interest or right or obligation in relation to equity interest)

SECTION 230-55 Rights, obligations and arrangements (grouping and disaggregation rules)

SECTION 230-60 When financial benefit provided or received under financial arrangement

SECTION 230-65 Amount of financial benefit relating to more than one financial arrangement etc.

SECTION 230-70 Apportionment when financial benefit received or right ceases

SECTION 230-75 Apportionment when financial benefit provided or obligation ceases

SECTION 230-80 Consistency in working out gains or losses (integrity measure)

SECTION 230-85 Rights and obligations include contingent rights and obligations

SECTION 230-90 What this Subdivision is about

SECTION 230-95 Objects of this Subdivision

SECTION 230-100 When accruals method or realisation method applies

SECTION 230-105 Sufficiently certain overall gain or loss

SECTION 230-110 Sufficiently certain gain or loss from particular event

SECTION 230-115 Sufficiently certain financial benefits

SECTION 230-120 Financial arrangements with notional principal

SECTION 230-125 Overview of the accruals method

SECTION 230-130 Applying accruals method to work out period over which gain or loss is to be spread

SECTION 230-135 How gain or loss is spread

SECTION 230-140 Method of spreading gain or loss - effective interest method

SECTION 230-145 Application of effective interest method where differing income and accounting years

SECTION 230-150 Election for portfolio treatment of fees

SECTION 230-155 Election for portfolio treatment of fees where differing income and accounting years

SECTION 230-160 Portfolio treatment of fees

SECTION 230-165 Portfolio treatment of premiums and discounts for acquiring portfolio

SECTION 230-170 Allocating gain or loss to income years

SECTION 230-172 Applying accruals method to loss resulting from impairment

SECTION 230-175 Running balancing adjustments

SECTION 230-180 Realisation method

SECTION 230-185 Reassessment

SECTION 230-190 Re-estimation

SECTION 230-192 Re-estimation - impairments and reversals

SECTION 230-195 Balancing adjustment if rate of return maintained on re-estimation

SECTION 230-200 Re-estimation if balancing adjustment on partial disposal

SECTION 230-205 Objects of this Subdivision

SECTION 230-210 Fair value election

SECTION 230-215 Fair value election where differing income and accounting years

SECTION 230-220 Financial arrangements to which fair value election applies

SECTION 230-225 Financial arrangements to which election does not apply

SECTION 230-230 Applying fair value method to gains and losses

SECTION 230-235 Splitting financial arrangements into 2 financial arrangements

SECTION 230-240 When election ceases to apply

SECTION 230-245 Balancing adjustment if election ceases to apply

SECTION 230-250 Objects of this Subdivision

SECTION 230-255 Foreign exchange retranslation election

SECTION 230-260 Foreign exchange retranslation election where differing income and accounting years

SECTION 230-265 Financial arrangements to which general election applies

SECTION 230-270 Financial arrangements to which general election does not apply

SECTION 230-275 Balancing adjustment for election in relation to qualifying forex accounts

SECTION 230-280 Applying foreign exchange retranslation method to gains and losses

SECTION 230-285 When election ceases to apply

SECTION 230-290 Balancing adjustment if election ceases to apply

SECTION 230-295 Objects of this Subdivision

SECTION 230-300 Applying hedging financial arrangement method to gains and losses

SECTION 230-305 Table of events and allocation rules

SECTION 230-310 Aligning tax classification of gain or loss from hedging financial arrangement with tax classification of hedged item

SECTION 230-315 Hedging financial arrangement election

SECTION 230-320 Hedging financial arrangement election where differing income and accounting years

SECTION 230-325 Hedging financial arrangements to which election applies

SECTION 230-330 Hedging financial arrangements to which election does not apply

SECTION 230-335 Hedging financial arrangement and hedged item

SECTION 230-340 Generally whole arrangement must be hedging financial arrangement

SECTION 230-345 Requirements not satisfied because of honest mistake or inadvertence

SECTION 230-350 Derivative financial arrangement and foreign currency hedge

SECTION 230-355 Recording requirements

SECTION 230-360 Determining basis for allocating gain or loss

SECTION 230-365 Effectiveness of the hedge

SECTION 230-370 When election ceases to apply

SECTION 230-375 Balancing adjustment if election ceases to apply

SECTION 230-380 Commissioner may determine that requirement met

SECTION 230-385 Consequences of failure to meet requirements

SECTION 230-390 Objects of this Subdivision

SECTION 230-395 Election to rely on financial reports

SECTION 230-400 Financial reports election where differing income and accounting years

SECTION 230-405 Commissioner discretion to waive requirements in paragraphs 230-395(2)(c) and (e)

SECTION 230-410 Financial arrangements to which the election applies

SECTION 230-415 Financial arrangements not covered by election

SECTION 230-420 Effect of election to rely on financial reports

SECTION 230-425 When election ceases to apply

SECTION 230-430 Balancing adjustment if election ceases to apply

SECTION 230-435 When balancing adjustment made

SECTION 230-440 Exceptions

SECTION 230-445 Balancing adjustment

SECTION 230-450 Short-term arrangements where non-money amount involved

SECTION 230-455 Certain taxpayers where no significant deferral

SECTION 230-460 Various rights and/or obligations

SECTION 230-465 Ceasing to have a financial arrangement in certain circumstances

SECTION 230-470 Forgiveness of commercial debts

SECTION 230-475 Clarifying exceptions

SECTION 230-480 Treatment of gains in form of franked distribution etc.

SECTION 230-481 Registered emissions units

SECTION 230-485 Effect of change of residence - rules for particular methods

SECTION 230-490 Effect of change of residence - disposal and reacquisition etc. after ceasing to be Australian resident where no further recognised gains or losses from arrangement

SECTION 230-495 Effect of change of accounting principles or standards

SECTION 230-500 Comparable foreign accounting and auditing standards

SECTION 230-505 Financial arrangement as consideration for provision or acquisition of a thing

SECTION 230-510 Non-arm ' s length dealings in relation to financial arrangement

SECTION 230-515 Arm ' s length dealings in relation to financial arrangement - adjustment to gain or loss in certain situations

SECTION 230-520 Disregard gains or losses covered by value shifting regime

SECTION 230-522 Adjusting a gain or loss that gives rise to a hybrid mismatch

SECTION 230-525 Consolidated financial reports

SECTION 230-527 Elections - reporting documents of foreign ADIs

SECTION 230-530 Additional operation of Division

SECTION 235-1 What this Division is about

SECTION 235-805 What this Subdivision is about

SECTION 235-810 Object of this Subdivision

SECTION 235-815 Application of Subdivision

SECTION 235-820 Look-through treatment for instalment trusts

SECTION 235-825 Meaning of instalment trust and instalment trust asset

SECTION 235-830 What trusts are covered - instalment trust arrangements

SECTION 235-835 Requirement for underlying investments to be listed or widely held

SECTION 235-840 What trusts are covered - limited recourse borrowings by regulated superannuation funds

SECTION 235-845 Interactions with other provisions

SECTION 240-1 What this Division is about

SECTION 240-3 How the recharacterisation affects the notional seller

SECTION 240-7 How the recharacterisation affects the notional buyer

SECTION 240-10 Application of this Division

SECTION 240-15 Scope of Division

SECTION 240-17 Who is the notional seller and the notional buyer?

SECTION 240-20 Notional sale of property by notional seller and notional acquisition of property by notional buyer

SECTION 240-25 Notional loan by notional seller to notional buyer

SECTION 240-35 Amounts to be included in notional seller's assessable income

SECTION 240-40 Arrangement payments not to be included in notional seller's assessable income

SECTION 240-50 Extent to which deductions are allowable to notional buyer

SECTION 240-55 Arrangement payments not to be deductions

SECTION 240-60 Notional interest

SECTION 240-65 Arrangement payments

SECTION 240-70 Arrangement payment periods

SECTION 240-75 When is the end of the arrangement?

SECTION 240-78 Termination amounts

SECTION 240-80 What happens if the arrangement is extended or renewed

SECTION 240-85 What happens if an amount is paid by or on behalf of the notional buyer to acquire the property

SECTION 240-90 What happens if the notional buyer ceases to have the right to use the property

SECTION 240-105 Adjustments for notional seller

SECTION 240-110 Adjustments for notional buyer

SECTION 240-112 Division 16E applies to certain arrangements

SECTION 240-115 Another person, or no person taken to own property in certain cases

SECTION 242-1 What this Division is about

SECTION 242-5 What this Subdivision is about

SECTION 242-10 Application

SECTION 242-15 Notional sale and acquisition

SECTION 242-20 Consideration for notional sale, and cost, of car

SECTION 242-25 Notional loan by lessor to lessee

SECTION 242-30 What this Subdivision is about

SECTION 242-35 Amount to be included in lessor ' s assessable income

SECTION 242-40 Treatment of lease payments

SECTION 242-45 What this Subdivision is about

SECTION 242-50 Extent to which deductions are allowable to lessee

SECTION 242-55 Lease payments not deductible

SECTION 242-60 What this Subdivision is about

SECTION 242-65 Adjustments for lessor

SECTION 242-70 Adjustments for lessee

SECTION 242-75 What this Subdivision is about

SECTION 242-80 What happens if the term of the lease is extended or the lease is renewed

SECTION 242-85 What happens if an amount is paid by the lessee to acquire the car

SECTION 242-90 What happens if the lessee stops having the right to use the car

SECTION 243-10 What this Division is about

SECTION 243-15 When does this Division apply?

SECTION 243-20 What is limited recourse debt?

SECTION 243-25 When is a debt arrangement terminated?

SECTION 243-30 What is the financed property and the debt property?

SECTION 243-35 Working out the excessive deductions

SECTION 243-40 Amount included in debtor's assessable income

SECTION 243-45 Deduction for later payments in respect of debt

SECTION 243-50 Deduction for payments for replacement debt

SECTION 243-55 Effect of Division on later capital allowance deductions

SECTION 243-57 Effect of Division on later capital allowance balancing adjustments

SECTION 243-58 Adjustment where debt only partially used for expenditure

SECTION 243-60 Application of Division to partnerships

SECTION 243-65 Application where partner reduces liability

SECTION 243-70 Application of Division to companies ceasing to be 100% subsidiary

SECTION 243-75 Application of Division where debt forgiveness rules also apply

SECTION 245-1 What this Division is about

SECTION 245-2 Simplified outline of this Division

SECTION 245-5 What this Subdivision is about

SECTION 245-10 Commercial debts

SECTION 245-15 Non-equity shares

SECTION 245-20 Parts of debts

SECTION 245-30 What this Subdivision is about

SECTION 245-35 What constitutes forgiveness of a debt

SECTION 245-36 What constitutes forgiveness of a debt if the debt is assigned

SECTION 245-37 What constitutes forgiveness of a debt if a subscription for shares enables payment of the debt

SECTION 245-40 Forgivenesses to which operative rules do not apply

SECTION 245-45 Application of operative rules if forgiveness involves an arrangement

SECTION 245-48 What this Subdivision is about

SECTION 245-50 Extent of forgiveness if consideration is given

SECTION 245-55 General rule for working out the value of a debt

SECTION 245-60 Special rule for working out the value of a non-recourse debt

SECTION 245-61 Special rule for working out the value of a previously assigned debt

SECTION 245-65 Amount offset against amount of debt

SECTION 245-75 Gross forgiven amount of a debt

SECTION 245-77 Gross forgiven amount shared between debtors

SECTION 245-80 What this Subdivision is about

SECTION 245-85 Reduction of gross forgiven amount

SECTION 245-90 Agreement between companies under common ownership for creditor to forgo capital loss or deduction

SECTION 245-95 What this Subdivision is about

SECTION 245-100 Subdivision not to apply to calculation of attributable income

SECTION 245-105 How total net forgiven amount is applied

SECTION 245-115 Total net forgiven amount is applied in reduction of tax losses

SECTION 245-120 Allocation of total net forgiven amount in respect of tax losses

SECTION 245-130 Remaining total net forgiven amount is applied in reduction of net capital losses

SECTION 245-135 Allocation of remaining total net forgiven amount in respect of net capital losses

SECTION 245-145 Remaining total net forgiven amount is applied in reduction of expenditure

SECTION 245-150 Allocation of remaining total net forgiven amount in respect of expenditures

SECTION 245-155 How expenditure is reduced - straight line deductions

SECTION 245-157 How expenditure is reduced - diminishing balance deductions

SECTION 245-160 Amount applied in reduction of expenditure included in assessable income in certain circumstances

SECTION 245-175 Remaining total net forgiven amount is applied in reduction of cost bases of CGT assets

SECTION 245-180 Allocation of remaining total net forgiven amount among relevant cost bases of CGT assets

SECTION 245-185 Relevant cost bases of investments in associated entities are reduced last

SECTION 245-190 Reduction of the relevant cost bases of a CGT asset

SECTION 245-195 No further consequences if there is any remaining unapplied total net forgiven amount

SECTION 245-200 What this Subdivision is about

SECTION 245-215 Unapplied total net forgiven amount of a partnership is transferred to partners

SECTION 245-265 Keeping and retaining records

SECTION 247-5 Object of Division

SECTION 247-10 What capital protected borrowing and capital protection are

SECTION 247-15 Application of this Division

SECTION 247-20 Treating capital protection as a put option

SECTION 247-25 Number of put options

SECTION 247-30 Exercise or expiry of option

SECTION 250-1 What this Division is about

SECTION 250-5 Main objects

SECTION 250-10 When this Division applies to you and an asset

SECTION 250-15 General test

SECTION 250-20 First exclusion - small business entities

SECTION 250-25 Second exclusion - financial benefits under minimum value limit

SECTION 250-30 Third exclusion - certain short term or low value arrangements

SECTION 250-35 Exceptions to section 250-30

SECTION 250-40 Fourth exclusion - sum of present values of financial benefits less than amount otherwise assessable

SECTION 250-45 Fifth exclusion - Commissioner determination

SECTION 250-50 End user of an asset

SECTION 250-55 Tax preferred end user

SECTION 250-60 Tax preferred use of an asset

SECTION 250-65 Arrangement period for tax preferred use

SECTION 250-70 New tax preferred use at end of arrangement period if tax preferred use continues

SECTION 250-75 What constitutes a separate asset for the purposes of this Division

SECTION 250-80 Treatment of particular arrangements in the same way as leases

SECTION 250-85 Financial benefits in relation to tax preferred use of an asset

SECTION 250-90 Financial benefit provided directly or indirectly

SECTION 250-95 Expected financial benefits in relation to an asset put to tax preferred use

SECTION 250-100 Present value of financial benefit that has already been provided

SECTION 250-105 Discount rate to be used in working out present values

SECTION 250-110 Predominant economic interest

SECTION 250-115 Limited recourse debt test

SECTION 250-120 Right to acquire asset test

SECTION 250-125 Effectively non-cancellable, long term arrangement test

SECTION 250-130 Meaning of effectively non-cancellable arrangement

SECTION 250-135 Level of expected financial benefits test

SECTION 250-140 When to retest predominant economic interest under section 250-135

SECTION 250-145 Denial of capital allowance deductions

SECTION 250-150 Apportionment rule

SECTION 250-155 Arrangement treated as loan

SECTION 250-160 Financial benefits that are subject to deemed loan treatment

SECTION 250-165 Financial arrangement

SECTION 250-170 Financial arrangement (equity interest or right or obligation in relation to equity interest)

SECTION 250-175 Rights, obligations and arrangements (grouping and disaggregation rules)

SECTION 250-180 End value of asset

SECTION 250-185 Financial benefits subject to deemed loan treatment not assessed

SECTION 250-190 What this Subdivision is about

SECTION 250-195 Application of Subdivision

SECTION 250-200 Objects of this Subdivision

SECTION 250-205 Gains are assessable and losses deductible

SECTION 250-210 Gain or loss to be taken into account only once under this Act

SECTION 250-215 Methods for taking gain or loss into account

SECTION 250-220 Consistency in working out gains or losses (integrity measure)

SECTION 250-225 Rights and obligations include contingent rights and obligations

SECTION 250-230 Application of accruals method

SECTION 250-235 Overview of the accruals method

SECTION 250-240 Applying accruals method to work out period over which gain or loss is to be spread

SECTION 250-245 How gain or loss is spread

SECTION 250-250 Allocating gain or loss to income years

SECTION 250-255 When to re-estimate

SECTION 250-260 Re-estimation if balancing adjustment on partial disposal

SECTION 250-265 When balancing adjustment made

SECTION 250-270 Exception for subsidiary member leaving consolidated group

SECTION 250-275 Balancing adjustment

SECTION 250-280 Financial arrangement received or provided as consideration

SECTION 250-285 Treatment of asset after Division ceases to apply to the asset

SECTION 250-290 Balancing adjustment under Subdivision 40-D in some circumstances

SECTION 250-295 Objections against determinations and decisions by the Commissioner

SECTION 253-1 What this Subdivision is about

SECTION 253-5 Payment of entitlement under financial claims scheme treated as payment from ADI

SECTION 253-10 Disposal of rights against ADI to APRA and meeting of financial claims scheme entitlement have no CGT effects

SECTION 253-15 Cost base of financial claims scheme entitlement and any remaining part of account that gave rise to entitlement

SECTION 275-1 What this Division is about

SECTION 275-5 What this Subdivision is about

SECTION 275-10 Meaning of managed investment trust

SECTION 275-15 Trusts with wholesale membership

SECTION 275-20 Widely-held requirements - ordinary case

SECTION 275-25 Widely-held requirements for registered MIT - special case for entities covered by subsection 275-20(4)

SECTION 275-30 Closely-held restrictions

SECTION 275-35 Licensing requirements for unregistered MIS

SECTION 275-40 MIT participation interest

SECTION 275-45 Meaning of managed investment trust - every member of trust is a managed investment trust etc.

SECTION 275-50 Extended definition of managed investment trust - no fund payment made in relation to the income year

SECTION 275-55 Extended definition of managed investment trust - temporary circumstances outside the control of the trustee

SECTION 275-100 Consequences of making choice - CGT to be primary code for calculating MIT gains or losses

SECTION 275-105 Covered assets

SECTION 275-110 MIT not to be trading trust

SECTION 275-115 MIT CGT choices

SECTION 275-120 Consequences of not making choice - revenue account treatment

SECTION 275-200 Gains and losses etc. from carried interests in managed investment trusts reflected in assessable income or deduction

SECTION 275-600 What this Subdivision is about

SECTION 275-605 Trustee taxed on amount of non-arm ' s length income of managed investment trust

SECTION 275-610 Non-arm ' s length income

SECTION 275-615 Commissioner ' s determination in relation to amount of non-arm ' s length income

SECTION 276-1 What this Division is about

SECTION 276-5 What this Subdivision is about

SECTION 276-10 Meaning of attribution managed investment trust (or AMIT )

SECTION 276-15 Clearly defined interests

SECTION 276-20 Trust with classes of membership interests - each class treated as separate AMIT

SECTION 276-50 What this Subdivision is about

SECTION 276-55 AMIT taken to be fixed trust and member taken to have vested and indefeasible interest in income and capital

SECTION 276-75 What this Subdivision is about

SECTION 276-80 Member ' s assessable income or tax offsets for determined member components - general rules

SECTION 276-85 Member ' s assessable income or tax offsets for determined member components - specific rules

SECTION 276-90 Commissioner ' s determination as to status of member as qualified person

SECTION 276-95 Relationship between section 276-80 and withholding rules

SECTION 276-100 Relationship between section 276-80 and other charging provisions in this Act

SECTION 276-105 Trustee taxed on foreign resident ' s determined member components

SECTION 276-110 Refundable tax offset for foreign resident member - member that is not a trustee

SECTION 276-115 Custodian interposed between AMIT and member

SECTION 276-200 What this Subdivision is about

SECTION 276-205 Meaning of determined member component

SECTION 276-210 Meaning of member component

SECTION 276-250 What this Subdivision is about

SECTION 276-255 Meaning of determined trust component

SECTION 276-260 Meaning of trust component

SECTION 276-265 Rules for working out trust components - general rules

SECTION 276-270 Rules for working out trust components - allocation of deductions

SECTION 276-300 What this Subdivision is about

SECTION 276-305 Adjustment of trust component for unders and overs

SECTION 276-310 Rounding adjustment deficit increases trust component

SECTION 276-315 Rounding adjustment surplus decreases trust component

SECTION 276-320 Meaning of trust component deficit

SECTION 276-325 Trust component of character relating to assessable income - adjustment for cross-character allocation amount, carry-forward trust component deficit and FITO allocation amount

SECTION 276-330 Meaning of cross-character allocation amount and carry-forward trust component deficit

SECTION 276-335 Meaning of FITO allocation amount

SECTION 276-340 Trust component character relating to tax offset - taxation of trust component deficit

SECTION 276-345 Meaning of under and over of a character

SECTION 276-350 Limited discovery period for unders and overs

SECTION 276-400 What this Subdivision is about

SECTION 276-405 Trustee taxed on shortfall in determined member component (character relating to assessable income)

SECTION 276-410 Trustee taxed on excess in determined member component (character relating to tax offset)

SECTION 276-415 Trustee taxed on amounts of determined trust component that are not reflected in determined member components

SECTION 276-420 Trustee taxed on amounts of under of character relating to assessable income not properly carried forward

SECTION 276-425 Trustee taxed on amounts of over of character relating to tax offset not properly carried forward

SECTION 276-430 Commissioner may remit tax under this Subdivision

SECTION 276-450 What this Subdivision is about

SECTION 276-455 Obligation to give an AMMA statement

SECTION 276-460 AMIT member annual statement (or AMMA statement )

SECTION 276-500 What this Subdivision is about

SECTION 276-505 Meaning of debt-like trust instrument

SECTION 276-510 Debt-like trust instruments treated as debt interests etc.

SECTION 276-515 Distribution on debt-like trust instrument could be deductible in working out trust components

SECTION 276-800 What this Subdivision is about

SECTION 276-810 Continue to work out trust components, unders, overs etc.

SECTION 276-815 Effect of increase

SECTION 276-820 Effect of decrease

SECTION 280-1 Effect of this Division

SECTION 280-5 Overview

SECTION 280-10 Contributions phase - deductibility

SECTION 280-15 Contributions phase - limits on superannuation tax concessions

SECTION 280-20 Investment phase

SECTION 280-25 Benefits phase - different types of superannuation benefit

SECTION 280-30 Benefits phase - taxation varies with age of recipient and type of benefit

SECTION 280-35 Benefits phase - roll-overs

SECTION 280-40 Other relevant legislative schemes

SECTION 285-5 Transfers of property

SECTION 290-1 What this Division is about

SECTION 290-5 Non-application to roll-over superannuation benefits etc.

SECTION 290-10 No deductions other than under this Division

SECTION 290-60 Employer contributions deductible

SECTION 290-65 Application to employees etc.

SECTION 290-70 Employment activity conditions

SECTION 290-75 Complying fund conditions

SECTION 290-80 Age related conditions

SECTION 290-85 Contributions for former employees etc.

SECTION 290-90 Controlling interest deductions

SECTION 290-95 Amounts offset against superannuation guarantee charge

SECTION 290-100 Returned contributions assessable

SECTION 290-150 Personal contributions deductible

SECTION 290-155 Complying superannuation fund condition

SECTION 290-160 Maximum earnings as employee condition

SECTION 290-165 Age-related conditions

SECTION 290-167 Contribution must not be a downsizer contribution

SECTION 290-168 Contribution must not be a re-contribution under the first home super saver scheme

SECTION 290-169 Contribution must not be a COVID-19 re-contribution

SECTION 290-170 Notice of intent to deduct conditions

SECTION 290-175 Deduction limited by amount specified in notice

SECTION 290-180 Notice may be varied but not revoked or withdrawn

SECTION 290-230 Offset for spouse contribution

SECTION 290-235 Limit on amount of tax offsets

SECTION 290-240 Tax file number

SECTION 291-1 What this Division is about

SECTION 291-5 Object of this Division

SECTION 291-10 What this Subdivision is about

SECTION 291-15 Excess concessional contributions - assessable income, 15 % tax offset

SECTION 291-20 Your excess concessional contributions for a financial year

SECTION 291-25 Your concessional contributions for a financial year

SECTION 291-155 What this Subdivision is about

SECTION 291-160 Application

SECTION 291-165 Concessional contributions - special rules for defined benefit interests

SECTION 291-170 Notional taxed contributions

SECTION 291-175 Defined benefit interest

SECTION 291-365 What this Subdivision is about

SECTION 291-370 Contributions that do not result in excess contributions

SECTION 291-460 What this Subdivision is about

SECTION 291-465 Commissioner ' s discretion to disregard contributions etc. in relation to a financial year

SECTION 292-1 What this Division is about

SECTION 292-5 Object of this Division

SECTION 292-15 What this Subdivision is about

SECTION 292-20 Amount in assessable income, and tax offset, relating to your non-concessional contributions

SECTION 292-25 Amount included in assessable income

SECTION 292-30 Amount of the tax offset

SECTION 292-75 What this Subdivision is about

SECTION 292-80 Liability for excess non-concessional contributions tax

SECTION 292-85 Your excess non-concessional contributions for a financial year

SECTION 292-90 Your non-concessional contributions for a financial year

SECTION 292-95 Contributions arising from structured settlements or orders for personal injuries

SECTION 292-100 Contribution relating to some CGT small business concessions

SECTION 292-102 Downsizer contributions

SECTION 292-103 COVID-19 re-contributions

SECTION 292-105 CGT cap amount

SECTION 292-155 What this Subdivision is about

SECTION 292-160 Application

SECTION 292-165 Concessional contributions - special rules for defined benefit interests

SECTION 292-170 Notional taxed contributions

SECTION 292-175 Defined benefit interest

SECTION 292-225 What this Subdivision is about

SECTION 292-230 Commissioner must make an excess non-concessional contributions tax assessment

SECTION 292-235 Part-year assessment

SECTION 292-240 Validity of assessment

SECTION 292-245 Objections

SECTION 292-250 Evidence

SECTION 292-300 What this Subdivision is about

SECTION 292-305 Amendments within 4 years of the original assessment

SECTION 292-310 Amended assessments are treated as excess non-concessional contributions tax assessments

SECTION 292-315 Later amendments - on request

SECTION 292-320 Later amendments - fraud or evasion

SECTION 292-325 Further amendment of an amended particular

SECTION 292-330 Amendment on review etc.

SECTION 292-380 What this Subdivision is about

SECTION 292-385 Due date for payment of excess non-concessional contributions tax

SECTION 292-390 General interest charge

SECTION 292-395 Refunds of amounts overpaid

SECTION 292-400 Security for payment of tax

SECTION 292-405 Release authority

SECTION 292-410 Giving a release authority to a superannuation provider

SECTION 292-415 Superannuation provider given release authority must pay amount

SECTION 292-420 Release authorities for refunded excess concessional contributions

SECTION 292-425 Interest for late payments of money received by the Commissioner in accordance with release authority

SECTION 292-465 Commissioner ' s discretion to disregard contributions etc. in relation to a financial year

SECTION 292-467 Direction that the value of superannuation interests is nil

SECTION 292-468 Variations etc. of refunded excess concessional contributions determinations

SECTION 292-469 Objections against determinations etc.

SECTION 292-470 Power of Commissioner to obtain information

SECTION 293-1 What this Division is about

SECTION 293-5 Object of this Division

SECTION 293-10 What this Subdivision is about

SECTION 293-15 Liability for tax

SECTION 293-20 Your taxable contributions

SECTION 293-25 Your low tax contributions

SECTION 293-30 Low tax contributed amounts

SECTION 293-35 Effect of determination relating to refunded excess concessional contributions

SECTION 293-60 What this Subdivision is about

SECTION 293-65 When tax is payable - original assessments

SECTION 293-70 When tax is payable - amended assessments

SECTION 293-75 General interest charge

SECTION 293-100 What this Subdivision is about

SECTION 293-105 Low tax contributions - modification for defined benefit interests

SECTION 293-110 Effect of determination relating to refunded excess concessional contributions

SECTION 293-115 Defined benefit contributions

SECTION 293-140 What this Subdivision is about

SECTION 293-145 Who this Subdivision applies to

SECTION 293-150 Low tax contributions - modification for CPFs

SECTION 293-155 High income threshold - effect of modification

SECTION 293-160 Salary packaged contributions

SECTION 293-185 What this Subdivision is about

SECTION 293-190 Who this Subdivision applies to

SECTION 293-195 Defined benefit contributions - modified treatment of contributions under the Judges ' Pensions Act 1968

SECTION 293-200 High income threshold - effect of modification

SECTION 293-225 What this Subdivision is about

SECTION 293-230 Who is entitled to a refund

SECTION 293-235 Amount of the refund

SECTION 293-240 Entitlement to refund stops all Division 293 tax liabilities

SECTION 294-1 What this Division is about

SECTION 294-5 Object of this Division

SECTION 294-10 What this Subdivision is about

SECTION 294-15 When you have a transfer balance account

SECTION 294-20 Meaning of retirement phase recipient

SECTION 294-25 Transfer balance credits

SECTION 294-30 Excess transfer balance

SECTION 294-35 Your transfer balance cap

SECTION 294-40 Proportionally indexed transfer balance cap

SECTION 294-45 Transfer balance account ends

SECTION 294-50 Assumptions about income streams

SECTION 294-55 Repayment of limited recourse borrowing arrangement

SECTION 294-75 What this Subdivision is about

SECTION 294-80 Transfer balance debits

SECTION 294-85 Certain events that result in reduced superannuation

SECTION 294-90 Payment splits

SECTION 294-95 Payment splits - no double debiting

SECTION 294-120 What this Subdivision is about

SECTION 294-125 When this Subdivision applies

SECTION 294-130 Meaning of capped defined benefit income stream

SECTION 294-135 Transfer balance credit - special rule for capped defined benefit income streams

SECTION 294-140 Excess transfer balance - special rule for capped defined benefit income streams

SECTION 294-145 Transfer balance debits - special rules for capped defined benefit income streams

SECTION 294-170 What this Subdivision is about

SECTION 294-175 When this Subdivision applies

SECTION 294-180 Transfer balance account ends

SECTION 294-185 Transfer balance cap - special rule for child recipient

SECTION 294-190 Cap increment - child recipient just before 1 July 2017

SECTION 294-195 Cap increment - child recipient on or after 1 July 2017, deceased had no transfer balance account

SECTION 294-200 Cap increment - child recipient on or after 1 July 2017, deceased had transfer balance account

SECTION 294-225 What this Subdivision is about

SECTION 294-230 Excess transfer balance tax

SECTION 294-235 Your excess transfer balance earnings

SECTION 294-240 When tax is payable - original assessments

SECTION 294-245 When tax is payable - amended assessments

SECTION 294-250 General interest charge

SECTION 295-1 What this Division is about

SECTION 295-5 Entities to which Division applies

SECTION 295-10 How to work out the tax payable by superannuation entities

SECTION 295-15 Division does not impose a tax on property of a State

SECTION 295-20 Exempting laws ineffective

SECTION 295-25 Assessments on basis of anticipated SIS Act notice

SECTION 295-30 Effect of revocation etc. of SIS Act notices

SECTION 295-35 Acronyms used in tables

SECTION 295-85 CGT to be primary code for calculating gains or losses

SECTION 295-90 CGT rules for pre-30 June 1988 assets

SECTION 295-95 Deductions related to contributions

SECTION 295-100 Deductions for investing in PSTs and life policies

SECTION 295-105 Distributions to PST unitholders

SECTION 295-155 What this Subdivision is about

SECTION 295-160 Contributions and payments

SECTION 295-165 Exception - spouse contributions

SECTION 295-170 Exception - Government co-contributions and contributions for a child

SECTION 295-171 Exception - payments from FHSAs and Government FHSA contributions

SECTION 295-173 Exception - trustee contributions

SECTION 295-175 Exception - payments by a member spouse

SECTION 295-180 Exception - choice to exclude certain contributions

SECTION 295-185 Exception - temporary residents

SECTION 295-190 Personal contributions and roll-over amounts

SECTION 295-195 Exclusion of personal contributions - contributions

SECTION 295-197 Exclusion of personal contributions - successor funds

SECTION 295-200 Transfers from foreign superannuation funds

SECTION 295-205 Application of tables to RSA providers

SECTION 295-210 Former constitutionally protected funds

SECTION 295-260 Transfer of liability to investment vehicle

SECTION 295-265 Application of pre-1 July 88 funding credits

SECTION 295-270 Anticipated funding credits

SECTION 295-320 Other amounts included in assessable income

SECTION 295-325 Previously complying funds

SECTION 295-330 Previously foreign funds

SECTION 295-335 Amounts excluded from assessable income

SECTION 295-385 Income from assets set aside to meet current pension liabilities

SECTION 295-387 Disregarded small fund assets

SECTION 295-390 Income from other assets used to meet current pension liabilities

SECTION 295-395 Meaning of segregated non-current assets

SECTION 295-400 Income of a PST attributable to current pension liabilities

SECTION 295-405 Other exempt income

SECTION 295-407 Covered superannuation income streams - RSAs

SECTION 295-410 Amount credited to RSA

SECTION 295-460 Benefits for which deductions are available

SECTION 295-465 Complying funds - deductions for insurance premiums

SECTION 295-470 Complying funds - deductions for future liability to pay benefits

SECTION 295-475 RSA providers - deductions for insurance premiums

SECTION 295-480 Meaning of whole of life policy and endowment policy

SECTION 295-485 Deductions for increased amount of superannuation lump sum death benefit

SECTION 295-490 Other deductions

SECTION 295-495 Amounts that cannot be deducted

SECTION 295-545 Components of taxable income - complying superannuation funds, complying ADFs and PSTs

SECTION 295-550 Meaning of non-arm ' s length income

SECTION 295-555 Components of taxable income - RSA providers

SECTION 295-605 Liability for tax on no-TFN contributions income

SECTION 295-610 No-TFN contributions income

SECTION 295-615 Meaning of quoted (for superannuation purposes)

SECTION 295-620 No reduction under Subdivision 295-D

SECTION 295-625 Assessments

SECTION 295-675 Entitlement to a tax offset

SECTION 295-680 Amount of the tax offset

SECTION 301-1 What this Division is about

SECTION 301-5 Division applies to superannuation member benefits paid from complying plans etc.

SECTION 301-10 All superannuation benefits are tax free

SECTION 301-15 Tax free status of tax free component

SECTION 301-20 Superannuation lump sum - taxable component taxed at 0% up to low rate cap amount, 15% on remainder

SECTION 301-25 Superannuation income stream - taxable component attracts 15% offset

SECTION 301-30 Tax free status of tax free component

SECTION 301-35 Superannuation lump sum - taxable component taxed at 20%

SECTION 301-40 Superannuation income stream - taxable component is assessable income, 15% offset for disability benefit

SECTION 301-90 Tax free component and element taxed in fund dealt with under Subdivision 301-B, but element untaxed in the fund dealt with under this Subdivision

SECTION 301-95 Superannuation lump sum - element untaxed in fund taxed at 15% up to untaxed plan cap amount, top rate on remainder

SECTION 301-100 Superannuation income stream - element untaxed in fund attracts 10% offset

SECTION 301-105 Superannuation lump sum - element untaxed in fund taxed at 15% up to low rate cap amount, 30% up to untaxed plan cap amount, top rate on remainder

SECTION 301-110 Superannuation income stream - element untaxed in fund is assessable income

SECTION 301-115 Superannuation lump sum - element untaxed in fund taxed at 30% up to untaxed plan cap amount, top rate on remainder

SECTION 301-120 Superannuation income stream - element untaxed in fund is assessable income

SECTION 301-125 Unclaimed money payments by the Commissioner

SECTION 301-170 Departing Australia superannuation payments

SECTION 301-175 Treatment of departing Australia superannuation benefits

SECTION 301-225 Superannuation lump sum member benefits less than $200 are tax free

SECTION 302-1 What this Division is about

SECTION 302-5 Division applies to superannuation death benefits paid from complying plans etc.

SECTION 302-10 Superannuation death benefits paid to trustee of deceased estate

SECTION 302-60 All of superannuation lump sum is tax free

SECTION 302-65 Superannuation income stream benefits are tax free

SECTION 302-70 Superannuation income stream - tax free status of tax free component

SECTION 302-75 Superannuation income stream - taxable component attracts 15% offset

SECTION 302-80 Treatment of element untaxed in the fund of superannuation income stream death benefit to dependant

SECTION 302-85 Deceased died aged 60 or above or dependant aged 60 years or above - superannuation income stream: element untaxed in fund attracts 10% offset

SECTION 302-90 Deceased died aged under 60 and dependant aged under 60 - superannuation income stream: element untaxed in fund is assessable income

SECTION 302-140 Superannuation lump sum - tax free status of tax free component

SECTION 302-145 Superannuation lump sum - element taxed in the fund taxed at 15%, element untaxed in the fund taxed at 30%

SECTION 302-195 Meaning of death benefits dependant

SECTION 302-200 What is an interdependency relationship ?

SECTION 303-1 What this Division is about

SECTION 303-2 Effect of exceeding defined benefit income cap on assessable income

SECTION 303-3 Effect of exceeding defined benefit income cap on tax offsets

SECTION 303-4 Meaning of defined benefit income cap

SECTION 303-5 Commutation of income stream if you are under 25 etc.

SECTION 303-10 Superannuation lump sum member benefit paid to member having a terminal medical condition

SECTION 303-15 Payments from release authorities - general

SECTION 303-17 Payments from release authorities etc. - released non-concessional contributions and associated earnings

SECTION 303-20 Payments from release authorities - paying debt account discharge liability for a superannuation interest

SECTION 304-1 What this Division is about

SECTION 304-5 Application

SECTION 304-10 Superannuation benefits in breach of legislative requirements etc.

SECTION 304-15 Excess payments from release authorities

SECTION 304-20 Excess payments from release authorities - paying debt account discharge liability for a superannuation interest

SECTION 305-1 What this Division is about

SECTION 305-5 Tax treatment of superannuation benefits from certain Australian non-complying superannuation funds

SECTION 305-55 Restriction to lump sums received from certain foreign superannuation funds

SECTION 305-60 Lump sums tax free - foreign resident period

SECTION 305-65 Lump sums tax free - Australian resident period

SECTION 305-70 Lump sums received more than 6 months after Australian residency or termination of foreign employment etc.

SECTION 305-75 Lump sums - applicable fund earnings

SECTION 305-80 Lump sums paid into complying superannuation plans - choice

SECTION 306-1 What this Division is about

SECTION 306-5 Effect of a roll-over superannuation benefit

SECTION 306-10 Roll-over superannuation benefit

SECTION 306-12 Involuntary roll-over superannuation benefit

SECTION 306-15 Tax on excess untaxed roll-over amounts

SECTION 306-20 Effect of payment to government of unclaimed superannuation money

SECTION 306-25 Payments connected with financial claims scheme to RSAs

SECTION 307-1 What this Division is about

SECTION 307-5 What is a superannuation benefit ?

SECTION 307-10 Payments that are not superannuation benefits

SECTION 307-15 Payments for your benefit or at your direction or request

SECTION 307-65 Meaning of superannuation lump sum

SECTION 307-70 Meaning of superannuation income stream and superannuation income stream benefit

SECTION 307-75 Meaning of retirement phase superannuation income stream benefit

SECTION 307-80 When a superannuation income stream is in the retirement phase

SECTION 307-120 Components of superannuation benefit

SECTION 307-125 Proportioning rule

SECTION 307-130 Superannuation guarantee payment consists entirely of taxable component

SECTION 307-135 Superannuation co-contribution benefit payment consists entirely of tax free component

SECTION 307-140 Contributions-splitting superannuation benefit consists entirely of taxable component

SECTION 307-142 Components of certain unclaimed money payments

SECTION 307-145 Modification for disability benefits

SECTION 307-150 Modification in respect of superannuation lump sum with element untaxed in fund

SECTION 307-200 Regulations relating to meaning of superannuation interests

SECTION 307-205 Value of superannuation interest

SECTION 307-210 Tax free component of superannuation interest

SECTION 307-215 Taxable component of superannuation interest

SECTION 307-220 What is the contributions segment ?

SECTION 307-225 What is the crystallised segment ?

SECTION 307-230 Total superannuation balance

SECTION 307-231 Limited recourse borrowing arrangements

SECTION 307-275 Element taxed in the fund and element untaxed in the fund of superannuation benefits

SECTION 307-280 Superannuation benefits from constitutionally protected funds etc.

SECTION 307-285 Trustee can choose to convert element taxed in the fund to element untaxed in the fund

SECTION 307-290 Taxed and untaxed elements of death benefit superannuation lump sums

SECTION 307-295 Superannuation benefits from public sector superannuation schemes may include untaxed element

SECTION 307-297 Public sector superannuation schemes - elements set by regulations

SECTION 307-300 Certain unclaimed money payments

SECTION 307-345 Low rate cap amount

SECTION 307-350 Untaxed plan cap amount

SECTION 307-400 Meaning of service period for a superannuation lump sum

SECTION 310-1 What this Division is about

SECTION 310-5 Object

SECTION 310-10 Original fund ' s assets extend beyond life insurance policies and units in pooled superannuation trusts

SECTION 310-15 Original fund ' s assets include a complying superannuation life insurance policy

SECTION 310-20 Original fund ' s assets include units in a pooled superannuation trust

SECTION 310-25 Who losses can be transferred to

SECTION 310-30 Losses that can be transferred

SECTION 310-35 Effect of transferring a net capital loss

SECTION 310-40 Effect of transferring a tax loss

SECTION 310-45 Choosing the assets roll-over

SECTION 310-50 Choosing the form of the assets roll-over

SECTION 310-55 CGT assets - if global asset approach chosen

SECTION 310-60 CGT assets - individual asset approach

SECTION 310-65 Revenue assets - if global asset approach chosen

SECTION 310-70 Revenue assets - individual asset approach

SECTION 310-75 Further consequences for roll-overs involving life insurance companies

SECTION 310-85 Choices

SECTION 311-1 What this Division is about

SECTION 311-5 Object

SECTION 311-10 Certain entities can choose transfer of losses, asset roll-overs, or both for transfers between funds

SECTION 311-12 Certain entities can choose asset roll-overs for transfers within a fund

SECTION 311-15 Who losses can be transferred to

SECTION 311-20 Losses that can be transferred

SECTION 311-25 Effect of transferring a net capital loss

SECTION 311-30 Effect of transferring a tax loss

SECTION 311-35 Realisation of certain assets after completion time

SECTION 311-40 Assets roll-over - transfers between funds

SECTION 311-42 Assets roll-over - transfers within a fund

SECTION 311-45 CGT assets

SECTION 311-50 Revenue assets

SECTION 311-55 Further consequences for roll-overs involving life insurance companies

SECTION 311-60 Choices

SECTION 312-1 What this Division is about

SECTION 312-5 Division implements Arrangement with New Zealand

SECTION 312-10 Amounts contributed to complying superannuation funds from KiwiSaver schemes

SECTION 312-15 Superannuation benefits paid from complying superannuation funds to KiwiSaver schemes

SECTION 312-20 Superannuation benefits paid by Commissioner to KiwiSaver schemes

SECTION 313-1 What this Division is about

SECTION 313-5 Object of this Division

SECTION 313-10 Application of this Division

SECTION 313-15 What this Subdivision is about

SECTION 313-20 Amount included in assessable income

SECTION 313-25 Amount of the tax offset

SECTION 313-30 What this Subdivision is about

SECTION 313-35 Purchasing or constructing a residential premises

SECTION 313-40 Notifying Commissioner

SECTION 313-45 What this Subdivision is about

SECTION 313-50 Contributing amounts to superannuation

SECTION 313-55 What this Subdivision is about

SECTION 313-60 First home super saver tax

SECTION 313-65 When tax is payable - original assessments

SECTION 313-70 When tax is payable - amended assessments

SECTION 313-75 General interest charge

SECTION 313-80 What this Subdivision is about

SECTION 313-85 Review rights for decisions made under this Division

SECTION 315-1 What this Division is about

SECTION 315-5 Policy holders to disregard capital gains and losses related to demutualisation of private health insurer

SECTION 315-10 Effect on the legal personal representative or beneficiary

SECTION 315-15 Demutualisations to which this Division applies

SECTION 315-20 What assets are covered

SECTION 315-25 Demutualising health insurers to disregard capital gains and losses related to demutualisation

SECTION 315-30 Other entities to disregard capital gains and losses related to demutualisation

SECTION 315-80 Cost base and acquisition time of demutualisation assets

SECTION 315-85 Demutualisation asset

SECTION 315-90 Participating policy holders

SECTION 315-140 Lost policy holders trust

SECTION 315-145 CGT treatment of demutualisation assets in lost policy holders trust

SECTION 315-150 Roll-over where assets transferred to lost policy holder

SECTION 315-155 Trustee assessed if assets dealt with not for benefit of lost policy holder

SECTION 315-160 Subdivision 126-E does not apply to lost policy holders trust

SECTION 315-210 Cost base for shares and rights in certain holding companies

SECTION 315-260 Special CGT rule for legal personal representatives and beneficiaries

SECTION 315-310 General taxation consequences of issue of demutualisation assets etc.

SECTION 316-1 What this Division is about

SECTION 316-5 Application of this Division

SECTION 316-50 What this Subdivision is about

SECTION 316-55 Disregarding capital gains and losses, except some involving receipt of money

SECTION 316-60 Taking account of some capital gains and losses involving receipt of money

SECTION 316-65 Valuation factor for sections 316-60, 316-105 and 316-165

SECTION 316-70 Value of the friendly society

SECTION 316-75 Disregarding friendly society ' s capital gains and losses

SECTION 316-80 Disregarding other entities ' capital gains and losses

SECTION 316-100 What this Subdivision is about

SECTION 316-105 Cost base and time of acquisition of shares and certain rights issued under demutualisation

SECTION 316-110 Demutualisation assets

SECTION 316-115 Entities to which section 316-105 applies

SECTION 316-150 What this Subdivision is about

SECTION 316-155 Lost policy holders trust

SECTION 316-160 Disregarding beneficiaries ' capital gains and losses, except some involving receipt of money

SECTION 316-165 Taking account of some capital gains and losses involving receipt of money by beneficiaries

SECTION 316-170 Roll-over where shares or rights to acquire shares transferred to beneficiary of lost policy holders trust

SECTION 316-175 Trustee assessed if shares or rights dealt with not for benefit of beneficiary of lost policy holders trust

SECTION 316-180 Subdivision 126-E does not apply

SECTION 316-200 Demutualisation assets not owned by deceased but passing to beneficiary in deceased estate

SECTION 316-205 Interest in lost policy holders trust not owned by deceased but passing to beneficiary in deceased estate

SECTION 316-250 What this Subdivision is about

SECTION 316-255 General taxation consequences of issue of demutualisation assets etc.

SECTION 316-260 Franking debits to stop the friendly society and its subsidiaries having franking surpluses

SECTION 316-265 Franking debits to negate franking credits from some distributions to friendly society and subsidiaries

SECTION 316-270 Franking debits to negate franking credits from post-demutualisation payments of pre-demutualisation tax

SECTION 316-275 Franking credits to negate franking debits from refunds of tax paid before demutualisation

SECTION 320-1 What this Division is about

SECTION 320-5 Object of Division

SECTION 320-10 What this Subdivision is about

SECTION 320-15 Assessable income - various amounts

SECTION 320-30 Assessable income - special provision for certain income years

SECTION 320-35 Exempt income

SECTION 320-37 Non-assessable non-exempt income

SECTION 320-45 Tax treatment of gains or losses from CGT events in relation to complying superannuation assets

SECTION 320-50 What this Subdivision is about

SECTION 320-55 Deduction for life insurance premiums where liabilities under life insurance policies are to be discharged from complying superannuation assets

SECTION 320-60 Deduction for life insurance premiums where liabilities under life insurance policies are to be discharged from segregated exempt assets

SECTION 320-65 Deduction for life insurance premiums in respect of life insurance policies that provide for participating or discretionary benefits

SECTION 320-70 No deduction for life insurance premiums in respect of certain life insurance policies payable only on death or disability

SECTION 320-75 Deduction for ordinary investment policies

SECTION 320-80 Deduction for certain claims paid under life insurance policies

SECTION 320-85 Deduction for increase in value of liabilities under net risk components of life insurance policies

SECTION 320-87 Deduction for assets transferred from or to complying superannuation asset pool

SECTION 320-100 Deduction for life insurance premiums paid under certain contracts of reinsurance

SECTION 320-105 Deduction for assets transferred to segregated exempt assets

SECTION 320-107 Deductions for increased amount of lump sum death benefit

SECTION 320-110 Deduction for interest credited to income bonds

SECTION 320-111 Deduction for funeral policy payout

SECTION 320-112 Deduction for scholarship plan payout

SECTION 320-115 No deduction for amounts credited to RSAs

SECTION 320-120 Capital losses from assets other than complying superannuation assets or segregated exempt assets

SECTION 320-125 Capital losses from complying superannuation assets

SECTION 320-130 What this Subdivision is about

SECTION 320-131 Overview of Subdivision

SECTION 320-133 Object of Subdivision

SECTION 320-134 Income tax of a life insurance company

SECTION 320-135 Taxable income and tax loss of each of the 2 classes

SECTION 320-137 Taxable income - complying superannuation class

SECTION 320-139 Taxable income - ordinary class

SECTION 320-141 Tax loss - complying superannuation class

SECTION 320-143 Tax loss - ordinary class

SECTION 320-149 Provisions that apply only in relation to the ordinary class

SECTION 320-150 What this Subdivision is about

SECTION 320-155 Subdivisions 295-I and 295-J apply to companies that are RSA providers

SECTION 320-165 What this Subdivision is about

SECTION 320-170 Establishment of complying superannuation asset pool

SECTION 320-175 Valuations of complying superannuation assets and complying superannuation liabilities for each valuation time

SECTION 320-180 Consequences of a valuation under section 320-175

SECTION 320-185 Transfer of assets to complying superannuation asset pool otherwise than as a result of a valuation under section 320-175

SECTION 320-190 Complying superannuation liabilities

SECTION 320-195 Transfer of assets and payment of amounts from a complying superannuation asset pool otherwise than as a result of a valuation under section 320-175

SECTION 320-200 Consequences of transfer of assets to or from complying superannuation asset pool

SECTION 320-205 What is the virtual PST component

SECTION 320-210 What this Subdivision is about

SECTION 320-215 What is the specified roll-over component

SECTION 320-225 Segregation of assets for purpose of discharging exempt life insurance policy liabilities

SECTION 320-230 Valuations of segregated exempt assets and exempt life insurance policy liabilities for each valuation time

SECTION 320-235 Consequences of a valuation under section 320-230

SECTION 320-240 Transfer of assets to segregated exempt assets otherwise than as a result of a valuation under section 320-230

SECTION 320-245 Exempt life insurance policy liabilities

SECTION 320-246 Exempt life insurance policy

SECTION 320-247 Policy split into an exempt life insurance policy and another life insurance policy

SECTION 320-250 Transfer of assets and payment of amounts from segregated exempt assets otherwise than as a result of a valuation under section 320-230

SECTION 320-255 Consequences of transfer of assets to or from segregated exempt assets

SECTION 320-300 What this Subdivision is about

SECTION 320-305 When this Subdivision applies

SECTION 320-310 Special deductions and amounts of assessable income

SECTION 320-315 Complying superannuation asset pool and segregated exempt assets

SECTION 320-320 Certain amounts treated as life insurance premiums

SECTION 320-325 Friendly societies

SECTION 320-330 Immediate annuities

SECTION 320-335 Parts of assets treated as separate assets

SECTION 320-340 Continuous disability policies

SECTION 320-345 Exemption of management fees

SECTION 321-10 Assessable income to include amount for reduction in outstanding claims liability

SECTION 321-15 Deduction for increase in outstanding claims liability

SECTION 321-20 How value of outstanding claims liability is worked out

SECTION 321-25 Deduction for claims paid during current year

SECTION 321-45 Assessable income to include gross premiums

SECTION 321-50 Assessable income to include amount for reduction in value of unearned premium reserve

SECTION 321-55 Deduction for increase in value of unearned premium reserve

SECTION 321-60 How value of unearned premium reserve is worked out

SECTION 321-80 Assessable income to include amount for reduction in outstanding claims liability

SECTION 321-85 Deduction for outstanding claims liability

SECTION 321-90 How value of outstanding claims liability is worked out

SECTION 321-95 Deductions for claims paid during current year

SECTION 322-5 Rescue payments treated as insurance payments by HIH

SECTION 322-10 HIH Trust exempt from tax

SECTION 322-15 Certain capital gains and capital losses disregarded

SECTION 322-20 What this Subdivision is about

SECTION 322-25 Payment of entitlement under financial claims scheme treated as payment from insurer

SECTION 322-30 Disposal of rights against insurer to APRA and meeting of financial claims scheme entitlement have no CGT effects

SECTION 328-5 What this Division is about

SECTION 328-10 Concessions available to small business entities

SECTION 328-50 Objects of this Division

SECTION 328-105 What this Subdivision is about

SECTION 328-110 Meaning of small business entity

SECTION 328-115 Meaning of aggregated turnover

SECTION 328-120 Meaning of annual turnover

SECTION 328-125 Meaning of connected with an entity

SECTION 328-130 Meaning of affiliate

SECTION 328-170 What this Subdivision is about

SECTION 328-175 Calculations for depreciating assets

SECTION 328-180 Assets costing less than $1,000

SECTION 328-185 Pooling

SECTION 328-190 Calculation

SECTION 328-195 Opening pool balance

SECTION 328-200 Closing pool balance

SECTION 328-205 Estimate of taxable use

SECTION 328-210 Low pool value

SECTION 328-215 Disposal etc. of depreciating assets

SECTION 328-220 What happens if you are not a small business entity or do not choose to use this Subdivision for an income year

SECTION 328-225 Change in business use

SECTION 328-230 Estimate where deduction denied

SECTION 328-235 Interaction with Divisions 85 and 86

SECTION 328-237 Special deduction for certain motor vehicles

SECTION 328-240 Roll-over relief for partnership changes

SECTION 328-243 Roll-over relief

SECTION 328-245 Consequences of roll-over

SECTION 328-247 Pool deductions

SECTION 328-250 Deductions for assets first used in BAE year

SECTION 328-253 Deductions for cost addition amounts

SECTION 328-255 Closing pool balance etc. below zero

SECTION 328-257 Taxable use

SECTION 328-280 What this Subdivision is about

SECTION 328-285 Trading stock for small and medium business entities

SECTION 328-290 Adjustments in certain cases

SECTION 328-295 Value of trading stock on hand

SECTION 328-350 What this Subdivision is about

SECTION 328-355 Entitlement to the small business income tax offset

SECTION 328-357 Special meaning of small business entity for the purposes of this Subdivision - $5 million turnover threshold

SECTION 328-360 Amount of your tax offset

SECTION 328-365 Net small business income

SECTION 328-370 Relevant attributable deductions

SECTION 328-375 Modification if you are under 18 years old

SECTION 328-420 What this Subdivision is about

SECTION 328-425 Object of this Subdivision

SECTION 328-430 When a roll-over is available

SECTION 328-435 Genuine restructures - safe harbour rule

SECTION 328-440 Ultimate economic ownership - discretionary trusts

SECTION 328-445 Residency requirement

SECTION 328-450 Small business transfers not to affect income tax positions

SECTION 328-455 Effect of small business restructures on transferred cost of assets

SECTION 328-460 Effect of small business restructures on acquisition times of pre-CGT assets

SECTION 328-465 New membership interests as consideration for transfer of assets

SECTION 328-470 Membership interests affected by transfers of assets

SECTION 328-475 Small business restructures involving assets already subject to small business roll-over

[ Division 330 - Mining and quarrying]

SECTION 345-1 What this Division is about

SECTION 345-5 FHSA provider that is trustee of FHSA trust - tax payable

SECTION 345-10 FHSA provider that is trustee of FHSA trust - CGT to be primary code for calculating gains or losses

SECTION 345-15 FHSA provider that is an ADI (other than RSA provider) - taxable income and standard component of taxable income

SECTION 345-20 FHSA provider that is an ADI - FHSA component of taxable income

SECTION 345-25 FHSA provider that is an ADI (other than an RSA provider) - amounts that cannot be deducted

SECTION 345-30 Amounts of tax paid by FHSA providers that are ADIs

SECTION 345-50 Credits to and payments from FHSAs etc.

SECTION 345-100 Liability for FHSA misuse tax

SECTION 345-110 Due date for payment of FHSA misuse tax

SECTION 345-115 General interest charge

SECTION 355-1 What this Division is about

SECTION 355-5 Object

SECTION 355-20 R & D activities

SECTION 355-25 Core R & D activities

SECTION 355-30 Supporting R & D activities

SECTION 355-35 R & D entities

SECTION 355-100 Entitlement to tax offset

SECTION 355-105 Deductions under this Division are notional only

SECTION 355-110 Notional deductions include prepaid expenditure

SECTION 355-115 Working out an R & D entity ' s total expenses

SECTION 355-200 What this Subdivision is about

SECTION 355-205 When notional deductions for R & D expenditure arise

SECTION 355-210 Conditions for R & D activities

SECTION 355-215 R & D activities conducted by a permanent establishment for other parts of the body corporate

SECTION 355-220 R & D activities conducted for a foreign entity

SECTION 355-225 Expenditure that cannot be notionally deducted

SECTION 355-300 What this Subdivision is about

SECTION 355-305 When notional deductions for decline in value arise

SECTION 355-310 Notional application of Division 40

SECTION 355-315 Balancing adjustments - assets only used for R & D activities

SECTION 355-400 Expenditure incurred while not at arm ' s length

SECTION 355-405 Expenditure not at risk

SECTION 355-410 Disposal of R & D results

SECTION 355-415 Reducing deductions to reflect mark-ups within groups

SECTION 355-430 What this Subdivision is about

SECTION 355-435 When this Subdivision applies

SECTION 355-440 R & D recoupments

SECTION 355-445 Feedstock adjustments

SECTION 355-446 Balancing adjustments for assets only used for R & D activities

SECTION 355-447 Balancing adjustments for assets partially used for R & D activities

SECTION 355-448 Balancing adjustments for R & D partnership assets only used for R & D activities

SECTION 355-449 Balancing adjustments for R & D partnership assets partially used for R & D activities

SECTION 355-450 Amount to be included in assessable income

SECTION 355-455 What this Subdivision is about

SECTION 355-460 When this Subdivision applies

SECTION 355-465 Assets only used for R & D activities

SECTION 355-466 Assets partially used for R & D activities

SECTION 355-467 R & D partnership assets only used for R & D activities

SECTION 355-468 R & D partnership assets partially used for R & D activities

SECTION 355-470 Feedstock revenue

SECTION 355-475 Amount that can be deducted

SECTION 355-480 Notional deductions for expenditure incurred to associate in earlier income years

SECTION 355-500 What this Subdivision is about

SECTION 355-505 Meaning of R & D partnership and partner's proportion

SECTION 355-510 R & D partnership expenditure on R & D activities

SECTION 355-515 R & D activities conducted by or for an R & D partnership

SECTION 355-520 When notional deductions arise for decline in value of depreciating assets of R & D partnerships

SECTION 355-525 Balancing adjustments for R & D partnership assets only used for R & D activities

SECTION 355-530 Implications for partner ' s aggregated turnover

SECTION 355-535 Disposal of R & D results for R & D partnerships

SECTION 355-540 Application of recoupment rules

SECTION 355-545 Relevance for net income, and losses, of the R & D partnership

SECTION 355-580 When notional deductions for CRC contributions arise

SECTION 355-700 Objecting to assessment of refundable tax offset

SECTION 355-705 Effect of findings by Industry Innovation and Science Australia

SECTION 355-710 Amendment of assessments

SECTION 355-715 Implications for other deductions and tax offsets

SECTION 355-720 Certain related amounts may be reduced if notional deductions exceeded $100 million

SECTION 355-750 Review of rate when notional deductions exceed $100 million

SECTION 360-5 What this Subdivision is about

SECTION 360-10 Object of this Subdivision

SECTION 360-15 Entitlement to the tax offset

SECTION 360-20 Limited entitlement for certain kinds of investors

SECTION 360-25 Amount of the tax offset - general case

SECTION 360-30 Amount of the tax offset - members of trusts or partnerships

SECTION 360-35 Amount of the tax offset - trustees

SECTION 360-40 Early stage innovation companies

SECTION 360-45 100 point innovation test

SECTION 360-50 Modified CGT treatment

SECTION 360-55 Modified CGT treatment - partnerships

SECTION 360-60 Modified CGT treatment - not affected by certain roll-overs

SECTION 360-65 Separate modified CGT treatment for roll-overs about wholly-owned companies or scrip for scrip roll-overs

[ Division 373 - Intellectual property]

SECTION 375-805 Does your tax loss have a film component?

SECTION 375-810 What is a film loss?

SECTION 375-815 Deductibility of film losses

SECTION 375-820 Order in which tax losses are to be deducted

SECTION 375-855 What can you deduct?

SECTION 375-860 When can you claim the deduction?

SECTION 375-865 How can you lose your entitlement?

SECTION 375-870 How this Subdivision applies to partners and partnerships

SECTION 375-872 Distribution of FLIC concessional capital is instead taken to be a dividend

SECTION 375-875 Tax losses cannot be transferred to or from FLICs

SECTION 375-880 FLIC cannot claim deductions for concessional capital

SECTION 376-1 What this Division is about

SECTION 376-2 Key features of the tax offsets for Australian production expenditure on films

SECTION 376-5 Structure of this Division

SECTION 376-10 Film production company entitled to refundable tax offset for Australian expenditure in making a film (location offset)

SECTION 376-15 Amount of the location offset

SECTION 376-20 Minister must issue certificate for a film for the location offset

SECTION 376-25 Meaning of documentary

SECTION 376-30 Minister to determine a company ' s qualifying Australian production expenditure for the location offset

SECTION 376-35 Film production company entitled to refundable tax offset for post, digital and visual effects production for a film (PDV offset)

SECTION 376-40 Amount of the PDV offset

SECTION 376-45 Minister must issue certificate for a film for the PDV offset

SECTION 376-50 Minister to determine a company ' s qualifying Australian production expenditure for the PDV offset

SECTION 376-55 Film production company entitled to refundable tax offset for Australian expenditure in making an Australian film (producer offset)

SECTION 376-60 Amount of the producer offset

SECTION 376-65 Film authority must issue certificate for an Australian film for the producer offset

SECTION 376-70 Determination of content of film

SECTION 376-75 Film authority to determine a company ' s qualifying Australian production expenditure for the producer offset

SECTION 376-125 Production expenditure - general test

SECTION 376-130 Production expenditure - special qualifying Australian production expenditure

SECTION 376-135 Production expenditure - specific exclusions

SECTION 376-140 Production expenditure - special rules for the location offset

SECTION 376-145 Qualifying Australian production expenditure - general test

SECTION 376-150 Qualifying Australian production expenditure - specific inclusions

SECTION 376-155 Qualifying Australian production expenditure - specific exclusions

SECTION 376-160 Qualifying Australian production expenditure - treatment of services embodied in goods

SECTION 376-165 Qualifying Australian production expenditure - special rules for the location offset and the PDV offset

SECTION 376-170 Qualifying Australian production expenditure - special rules for the producer offset

SECTION 376-175 Expenditure to be worked out on an arm ' s length basis

SECTION 376-180 Expenditure incurred by prior production companies

SECTION 376-185 Expenditure to be worked out excluding GST

SECTION 376-230 Production company may apply for certificate

SECTION 376-235 Notice of refusal to issue certificate

SECTION 376-240 Issue of certificate

SECTION 376-245 Revocation of certificate

SECTION 376-247 Delegation by Arts Minister

SECTION 376-250 Notice of decision or determination

SECTION 376-255 Review of decisions by the Administrative Appeals Tribunal

SECTION 376-260 Minister may make rules about the location offset and the PDV offset

SECTION 376-265 Film authority may make rules about the producer offset

SECTION 376-270 Amendment of assessments

SECTION 376-275 Review in relation to certain production levels

SECTION 380-1 What this Division is about

SECTION 380-5 Claims by individuals, corporate tax entities and superannuation funds

SECTION 380-10 Members of NRAS consortiums - individuals, corporate tax entities and superannuation funds

SECTION 380-11 Elections by NRAS approved participants

SECTION 380-12 Elections by NRAS approved participants - tax offsets

SECTION 380-13 Elections by NRAS approved participants - special rule for partnerships and trustees

SECTION 380-14 Members of NRAS consortiums - partnerships and trustees

SECTION 380-15 Entities to whom NRAS rent flows indirectly

SECTION 380-16 Elections by NRAS approved participants that are partnerships or trustees

SECTION 380-17 Elections by NRAS approved participants that are partnerships or trustees - tax offsets

SECTION 380-18 Elections by NRAS approved participants that are partnerships or trustees - special rule for partnerships and trustees

SECTION 380-20 Trustee of a trust that does not have net income for an income year

SECTION 380-25 When NRAS rent flows indirectly to or through an entity

SECTION 380-30 Share of NRAS rent

SECTION 380-32 Amended certificates

SECTION 380-35 Payments made and non-cash benefits provided in relation to the National Rental Affordability Scheme

SECTION 385-1 What this Division is about

SECTION 385-5 Where to find some other rules relevant to primary producers

SECTION 385-90 What this Subdivision is about

SECTION 385-95 Basic principles for elections under this Subdivision

SECTION 385-100 Cases where you can make an election

SECTION 385-105 Election to spread tax profit over 5 years

SECTION 385-110 Alternative election to defer tax profit and reduce cost of replacement live stock

SECTION 385-115 Your assessable income includes an amount for replacement live stock you breed

SECTION 385-120 Purchase price of replacement live stock is reduced

SECTION 385-125 Alternative election because of bovine tuberculosis has effect over 10 years not 5

SECTION 385-130 Insurance for loss of live stock or trees

SECTION 385-135 Election to defer including profit on second wool clip

SECTION 385-145 Partnerships and trusts

SECTION 385-150 Time for making election

SECTION 385-155 Amounts are assessable income from carrying on the primary production business

SECTION 385-160 Effect of certain events on election

SECTION 385-163 Disentitling events

SECTION 385-165 New partnership can elect to be treated as same entity as old partnership

SECTION 385-170 New partnership can elect to take advantage of election made by former owner of the business

Subdivision 385-J - Refundable tax offset for conservation tillage

[ Division 387 - Capital allowances for primary producers and some land-holders]

[ Division 388 - Tax offsets for primary producers and some land-holders]

SECTION 392-1 What this Division is about

SECTION 392-5 Overview of averaging process

SECTION 392-10 Individuals who carry on a primary production business

SECTION 392-15 Meaning of basic taxable income

SECTION 392-20 Trust beneficiaries taken to be carrying on primary production business

SECTION 392-22 Trustee may choose that a beneficiary is a chosen beneficiary of the trust

SECTION 392-25 Choosing not to have your income tax averaged

SECTION 392-30 What this Subdivision is about

SECTION 392-35 Will you get a tax offset or have to pay extra income tax?

SECTION 392-40 Identify income years for averaging your basic taxable income

SECTION 392-45 Work out your average income for those years

SECTION 392-50 Work out the income tax on your average income at basic rates

SECTION 392-55 Work out the comparison rate

SECTION 392-60 What this Subdivision is about

SECTION 392-65 What your averaging adjustment reflects

SECTION 392-70 Working out your gross averaging amount

SECTION 392-75 Working out your averaging adjustment

SECTION 392-80 Work out your taxable primary production income

SECTION 392-85 Work out your taxable non-primary production income

SECTION 392-90 Work out your averaging component

SECTION 392-95 You are treated as if you had not carried on business before

SECTION 393-1 What this Division is about

SECTION 393-5 Deduction for making farm management deposit

SECTION 393-10 Assessability on repayment of deposit

SECTION 393-15 Transactions to which the deduction, assessment and 12 month rules have modified application

SECTION 393-16 Consolidation of farm management deposits

SECTION 393-17 Tax consequences of liabilities reducing because of farm management deposits

SECTION 393-20 Farm management deposits

SECTION 393-25 Owners of farm management deposits

SECTION 393-27 Trustee may choose that a beneficiary is a chosen beneficiary of the trust

SECTION 393-28 Application of Division to beneficiary no longer under legal disability

SECTION 393-30 Effect of contravening requirements

SECTION 393-35 Requirements of agreement for a farm management deposit

SECTION 393-37 Agreements for a farm management deposit may allow for some offsets of a depositor ' s liabilities

SECTION 393-40 Repayment of deposit within first 12 months

SECTION 393-45 Partly repaid farm management deposits

SECTION 393-50 What this Subdivision is about

SECTION 393-55 Farm management deposits arising from farm management deposits with ADIs subject to financial claims scheme

SECTION 393-60 Repayment if owner of farm management deposit with insolvent ADI dies, is bankrupt or ceases to be a primary producer

SECTION 394-5 Object of this Division

SECTION 394-10 Deduction for amounts paid under forestry managed investment schemes

SECTION 394-15 Forestry managed investment schemes and related concepts

SECTION 394-20 Payments on behalf of participant in forestry managed investment scheme

SECTION 394-25 CGT event in relation to forestry interest in forestry managed investment scheme - initial participant

SECTION 394-30 CGT event in relation to forestry interest in forestry managed investment scheme - subsequent participant

SECTION 394-35 70% DFE rule

SECTION 394-40 Payments under forestry managed investment scheme

SECTION 394-45 Direct forestry expenditure

SECTION 396-15 Tax offset for LTF interest on land transport facilities borrowings

SECTION 396-20 Maximum cost to Commonwealth

SECTION 396-25 Borrower cannot deduct LTF interest for which lender has tax offset

SECTION 396-30 What is LTF interest ?

SECTION 396-35 Interest covered by land transport facilities borrowings agreement

SECTION 396-40 Interest ceasing to be covered by a land transport facilities borrowings agreement

SECTION 396-45 What projects can be approved?

SECTION 396-50 Who can be approved as a borrower?

SECTION 396-55 Who can be a lender?

SECTION 396-60 Applications

SECTION 396-65 Minister or Commissioner may seek more information

SECTION 396-70 Transport Minister to consider applications

SECTION 396-75 Selection criteria

SECTION 396-80 Land transport facilities borrowings agreements

SECTION 396-85 Conditions to be in all agreements

SECTION 396-90 Variation of agreements

SECTION 396-95 Provision of information

SECTION 396-100 Publication of information about approvals and agreements

SECTION 396-105 Delegation by Transport Minister

SECTION 396-110 Decision by Transport Minister not reviewable by AAT

[ Division 400 - Environmental impact assessment and environmental protection]

SECTION 402-1 What this Division is about

SECTION 402-750 What this Subdivision is about

SECTION 402-755 Entitlement to urban water tax offset

SECTION 402-760 Certificates

SECTION 402-765 Amount of urban water tax offset

SECTION 402-770 Revoking certificates

SECTION 402-775 AAT review

SECTION 402-780 Guidelines

SECTION 405-1 What this Division is about

SECTION 405-5 Special rate of income tax on your above-average special professional income

SECTION 405-10 Overview of the Division

SECTION 405-15 When do you have above-average special professional income?

SECTION 405-20 What you count as assessable professional income

SECTION 405-25 Meaning of special professional , performing artist , production associate , sportsperson and sporting competition

SECTION 405-30 What you cannot count as assessable professional income

SECTION 405-35 Limits on counting amounts as assessable professional income

SECTION 405-40 Joint author or inventor treated as sole author or inventor

SECTION 405-45 Working out your taxable professional income

SECTION 405-50 Working out your average taxable professional income

SECTION 410-1 What this Division is about

SECTION 410-5 Copyright collecting society must give notice to member of society

SECTION 410-50 Resale royalty collecting society must give notice to holder of resale royalty right

SECTION 415-1 What this Division is about

SECTION 415-5 Object of this Division

SECTION 415-10 What this Subdivision is about

SECTION 415-15 Uplift of tax losses of designated infrastructure project entities

SECTION 415-20 Designated infrastructure project entity

SECTION 415-25 Tax losses of trusts

SECTION 415-30 Bad debts written off etc. by trusts

SECTION 415-35 Tax losses of companies

SECTION 415-40 Bad debts written off by companies

SECTION 415-45 Losses transferred to head companies of consolidated groups

SECTION 415-50 What this Subdivision is about

SECTION 415-55 Applications for designation

SECTION 415-60 Dealing with applications

SECTION 415-65 Provisional designation

SECTION 415-70 Designation

SECTION 415-75 Infrastructure project capital expenditure cap

SECTION 415-80 Acceptance of estimates of infrastructure project capital expenditure

SECTION 415-85 Review of decisions

SECTION 415-90 Information to be made public

SECTION 415-95 Delegation

SECTION 415-100 Infrastructure project designation rules

SECTION 417-1 What this Division is about

SECTION 417-5 Object

SECTION 417-10 Meaning of transitioned petroleum activities

SECTION 417-25 Deducting amounts for depreciating assets

SECTION 417-30 Balancing adjustments

SECTION 417-35 Allocating assets to a project pool

SECTION 417-40 Deduction for expenditure on mining site rehabilitation

SECTION 417-45 Capital expenditure

SECTION 417-50 Transferring entitlement to deductions relating to a project pool

SECTION 417-65 CGT events not created by Timor Sea Maritime Boundaries Treaty entering into force

SECTION 417-70 Tax treatment of consideration for transferred entitlement to deductions or tax loss

SECTION 417-75 Membership interests affected by transfer of entitlement to deductions or tax loss

SECTION 417-90 Tax losses from transitioned petroleum activities

SECTION 417-95 How choices are made

SECTION 417-100 The effect of choosing to transfer losses

SECTION 417-105 The effect of choosing to apply losses to earlier income years

SECTION 417-110 Continuity of ownership and business continuity tests

SECTION 417-125 Foreign income tax offset

SECTION 417-140 Transfer pricing benefits relating to transitioned petroleum activities

SECTION 418-1 What this Division is about

SECTION 418-5 Object of this Division

SECTION 418-10 Who is entitled to the tax offset - ordinary case

SECTION 418-15 Who is entitled to the tax offset - life insurance company

SECTION 418-20 Entitlement of member of a trust or partnership to a share of exploration credits

SECTION 418-25 The amount of the tax offset

SECTION 418-30 Reduced amount of the tax offset for certain trusts

SECTION 418-50 Junior minerals exploration incentive franking credit - ordinary case

SECTION 418-55 Junior minerals exploration incentive franking credit - life insurance company

SECTION 418-70 Entities that may create exploration credits

SECTION 418-75 Meaning of greenfields minerals explorer

SECTION 418-80 Meaning of greenfields minerals expenditure

SECTION 418-81 Meaning of exploration credits allocation for an income year

SECTION 418-82 When does an entity have an unused allocation of exploration credits from an income year

SECTION 418-85 Exploration credits must not exceed maximum exploration credit amount

SECTION 418-90 Modulation factors

SECTION 418-95 Effect on tax losses of creating exploration credits

SECTION 418-100 Applying for an exploration credits allocation

SECTION 418-101 Determination by the Commissioner

SECTION 418-102 General allocation rules

SECTION 418-103 Meaning of annual exploration cap

SECTION 418-104 Failure to comply with this Subdivision does not affect allocation

SECTION 418-110 Issuing exploration credits

SECTION 418-111 Working out whether an exploration investment has been made in an income year

SECTION 418-115 Who may receive an exploration credit and what is the pool from which the credit may be issued

SECTION 418-116 Exploration credits issued must be in proportion to exploration investment

SECTION 418-120 The total of all exploration credits issued in relation to exploration investment

SECTION 418-125 Expiry of exploration credits

SECTION 418-130 Notifying the Commissioner of issuing or expiry of exploration credits

SECTION 418-135 Notifying the Commissioner if no exploration investment in income year for which credits allocated

SECTION 418-150 Excess exploration credit tax

SECTION 418-151 Complying exploration credit amount

SECTION 418-155 Due date for payment of excess exploration credit tax

SECTION 418-160 Returns

SECTION 418-165 When shortfall interest charge is payable

SECTION 418-170 General interest charge

SECTION 418-175 Refunds of amounts overpaid

SECTION 418-180 Record keeping

SECTION 418-185 Determining an entity not to be a greenfields minerals explorer

SECTION 418-190 Annual impact assessments of this Division

SECTION 420-1 What this Division is about

SECTION 420-5 The 4 key features of tax accounting for registered emissions units

SECTION 420-10 Meaning of registered emissions unit

SECTION 420-12 Meaning of hold a registered emissions unit

SECTION 420-15 What you can deduct

SECTION 420-20 Non-arm ' s length transactions and transactions with associates

SECTION 420-21 Incoming international transfers of emissions units

SECTION 420-22 Becoming taxable in Australia on the proceeds of sale of registered emissions units

SECTION 420-25 Assessable income on disposal of registered emissions units

SECTION 420-30 Non-arm ' s length transactions and transactions with associates

SECTION 420-35 Outgoing international transfers of emissions units

SECTION 420-40 Disposal of registered emissions units for a purpose other than gaining assessable income

SECTION 420-41 Ceasing to be taxable in Australia on the proceeds of sale of registered emissions units

SECTION 420-42 Deduction for expenses incurred in ceasing to hold a registered emissions unit

SECTION 420-43 Deduction for charge imposed on the surrender of an eligible international emissions unit

SECTION 420-45 You include the value of your registered emissions units in working out your assessable income and deductions

SECTION 420-50 Value of registered emissions units at start of income year

SECTION 420-51 Valuation methods

SECTION 420-52 FIFO cost method of working out the value of units

SECTION 420-53 Actual cost method of working out the value of units

SECTION 420-54 Market value method of working out the value of units

SECTION 420-55 Valuation method for first income year at the end of which you held registered emissions units

SECTION 420-57 Valuation method for later income years at the end of which you held registered emissions units

SECTION 420-58 Value of registered emissions units at end of income year - certain free carbon units

SECTION 420-60 Cost of registered emissions units

SECTION 420-65 Exclusivity of deductions etc.

SECTION 420-70 Exclusivity of assessable income etc.

SECTION 615-1 What this Division is about

SECTION 615-5 Disposing of interests in one entity for shares in a company

SECTION 615-10 Redeeming or cancelling interests in one entity for shares in a company

SECTION 615-15 Interposed company must own all the original interests

SECTION 615-20 Requirements relating to your interests in the original entity

SECTION 615-25 Requirements relating to the interposed company

SECTION 615-30 Interposed company must make a particular choice

SECTION 615-35 ADI restructures - disregard certain preference shares

SECTION 615-40 CGT consequences

SECTION 615-45 Additional consequences - deferral of profit or loss

SECTION 615-50 Trading stock

SECTION 615-55 Revenue assets

SECTION 615-60 Disregard CGT exemption for trading stock

SECTION 615-65 Consequences for the interposed company

SECTION 620-5 What this Subdivision is about

SECTION 620-10 Application

SECTION 620-15 Object

SECTION 620-20 Disregard body ' s capital gains and losses from CGT assets

SECTION 620-25 Cost base and pre-CGT status of CGT asset for company

SECTION 620-30 Roll-over relief for balancing adjustment events

SECTION 620-40 Body taken to have sold trading stock to company

SECTION 620-50 Body taken to have sold revenue assets to company

SECTION 700-1 What this Part is about

SECTION 700-5 Overview of this Part

SECTION 700-10 Objects of this Part

SECTION 701-1 Single entity rule

SECTION 701-5 Entry history rule

SECTION 701-10 Cost to head company of assets of joining entity

SECTION 701-15 Cost to head company of membership interests in entity that leaves group

SECTION 701-20 Cost to head company of assets consisting of certain liabilities owed by entity that leaves group

SECTION 701-25 Tax-neutral consequence for head company of ceasing to hold assets when entity leaves group

SECTION 701-30 Where entity not subsidiary member for whole of income year

SECTION 701-35 Tax-neutral consequence for entity of ceasing to hold assets when it joins group

SECTION 701-40 Exit history rule

SECTION 701-45 Cost of assets consisting of liabilities owed to entity by members of the group

SECTION 701-50 Cost of certain membership interests of which entity becomes holder on leaving group

SECTION 701-55 Setting the tax cost of an asset

SECTION 701-56 Application of subsection 701-55(6)

SECTION 701-58 Effect of setting the tax cost of an asset that the head company does not hold under the single entity rule

SECTION 701-60 Tax cost setting amount

SECTION 701-60A Tax cost setting amount for asset emerging when entity leaves group

SECTION 701-61 Assets in relation to Division 230 financial arrangement - head company's assessable income or deduction

SECTION 701-63 Right to future income and WIP amount asset

SECTION 701-65 Net income and losses for trusts and partnerships

SECTION 701-67 Assets in this Part are CGT assets, etc.

SECTION 701-70 Adjustments to taxable income where identities of parties to arrangement merge on joining group

SECTION 701-75 Adjustments to taxable income where identities of parties to arrangement re-emerge on leaving group

SECTION 701-80 Accelerated depreciation

SECTION 701-85 Other exceptions etc. to the rules

SECTION 701-90 Right to future income treated as separate asset

SECTION 703-5 What is a consolidated group ?

SECTION 703-10 What is a consolidatable group ?

SECTION 703-15 Members of a consolidated group or consolidatable group

SECTION 703-20 Certain entities that cannot be members of a consolidated group or consolidatable group

SECTION 703-25 Australian residence requirements for trusts

SECTION 703-30 When is one entity a wholly-owned subsidiary of another?

SECTION 703-33 Transfer time for sale of shares in company

SECTION 703-35 Treating entities as wholly-owned subsidiaries by disregarding employee shares

SECTION 703-37 Disregarding certain preference shares following an ADI restructure

SECTION 703-40 Treating entities held through non-fixed trusts as wholly-owned subsidiaries

SECTION 703-45 Subsidiary members or nominees interposed between the head company and a subsidiary member of a consolidated group or a consolidatable group

SECTION 703-50 Choice to consolidate a consolidatable group

SECTION 703-55 Creating consolidated groups from certain MEC groups

SECTION 703-58 Notice of choice to consolidate

SECTION 703-60 Notice of events affecting consolidated group

SECTION 703-65 Application

SECTION 703-70 Consolidated group continues in existence with interposed company as head company and original entity as a subsidiary member

SECTION 703-75 Interposed company treated as substituted for original entity at all times before the completion time

SECTION 703-80 Effects on the original entity ' s tax position

SECTION 705-5 What this Subdivision is about

SECTION 705-10 Application and object of this Subdivision

SECTION 705-15 Cases where this Subdivision does not have effect

SECTION 705-20 Tax cost setting amount worked out under this Subdivision

SECTION 705-25 Tax cost setting amount for retained cost base assets

SECTION 705-27 Reduction in tax cost setting amount that exceeds market value of certain retained cost base assets

SECTION 705-30 What is the joining entity ' s terminating value for an asset ?

SECTION 705-35 Tax cost setting amount for reset cost base assets

SECTION 705-40 Tax cost setting amount for reset cost base assets held on revenue account etc.

SECTION 705-45 Reduction in tax cost setting amount for accelerated depreciation assets

SECTION 705-47 Reduction in tax cost setting amount for some privatised assets

SECTION 705-50 Reduction in tax cost setting amount for over-depreciated assets

SECTION 705-55 Order of application of sections 705-40, 705-45 and 705-47

SECTION 705-56 Modification for tax cost setting in relation to leases

SECTION 705-56A Modification for tax cost setting in relation to certain rights to future income

SECTION 705-57 Adjustment to tax cost setting amount where loss of pre-CGT status of membership interests in joining entity

SECTION 705-58 Assets and liabilities not set off against each other

SECTION 705-59 Exception: treatment of linked assets and liabilities

SECTION 705-60 What is the joined group ' s allocable cost amount for the joining entity?

SECTION 705-62 No double counting of amounts in allocable cost amount

SECTION 705-65 Cost of membership interests in the joining entity - step 1 in working out allocable cost amount

SECTION 705-70 Liabilities of the joining entity - step 2 in working out allocable cost amount

SECTION 705-75 Liabilities of the joining entity - reductions for purposes of step 2 in working out allocable cost amount

SECTION 705-76 Liability arising from transfer or assignment of securitised assets

SECTION 705-80 Liabilities of the joining entity - reductions/increases for purposes of step 2 in working out allocable cost amount

SECTION 705-85 Liabilities of the joining entity - increases for purposes of step 2 in working out allocable cost amount

SECTION 705-90 Undistributed, taxed profits accruing to joined group before joining time - step 3 in working out allocable cost amount

SECTION 705-93 If pre-joining time roll-over from foreign resident company or head company - step 3A in working out allocable cost amount

SECTION 705-95 Pre-joining time distributions out of certain profits - step 4 in working out allocable cost amount

SECTION 705-100 Losses accruing to joined group before joining time - step 5 in working out allocable cost amount

SECTION 705-105 Continuity of holding membership interests - steps 3 to 5 in working out allocable cost amount

SECTION 705-110 If joining entity transfers a loss to the head company - step 6 in working out allocable cost amount

SECTION 705-115 If head company becomes entitled to certain deductions - step 7 in working out allocable cost amount

SECTION 705-120 Preservation of application of subdivision 165-CC (about unrealised losses)

SECTION 705-125 Pre-CGT proportion for joining entity

SECTION 705-135 Application and object of this Subdivision

SECTION 705-140 Subdivision 705-A has effect with modifications

SECTION 705-145 Order in which tax cost setting amounts are to be worked out where subsidiary members have membership interests in other subsidiary members

SECTION 705-147 Adjustment in working out step 3A of allocable cost amount to take account of membership interests held by subsidiary members in other such members

SECTION 705-150 Adjustment to result of step 3A in working out allocable cost amount where pre-formation time roll-over from head company to member of wholly-owned group

SECTION 705-155 Adjustments to restrict step 4 reduction of allocable cost amount to effective distributions to head company in respect of direct membership interests

SECTION 705-160 Adjustment to allocation of allocable cost amount to take account of owned profits or losses of certain entities that become subsidiary members

SECTION 705-163 Modified application of section 705-57

SECTION 705-165 Working out pre-CGT factors where subsidiary members have membership interests in other subsidiary members

SECTION 705-175 Application and object of this Subdivision

SECTION 705-180 Modifications of Division 701

SECTION 705-185 Subdivision 705-A has effect with modifications

SECTION 705-190 Modified application of section 705-50

SECTION 705-195 Modified application of subsection 705-65(6)

SECTION 705-200 Modified application of section 705-85

SECTION 705-205 Modified application of section 705-125

SECTION 705-215 Application and object of this Subdivision

SECTION 705-220 Subdivision 705-A has effect with modifications

SECTION 705-225 Order in which tax cost setting amounts are to be worked out where linked entities have membership interests in other linked entities

SECTION 705-227 Adjustment in working out step 3A of allocable cost amount to take account of membership interests held by linked entities in other linked entities

SECTION 705-230 Adjustments to restrict step 4 reduction of allocable cost amount to effective distributions to head company in respect of direct membership interests

SECTION 705-235 Adjustment to allocation of allocable cost amount to take account of owned profits or losses of certain linked entities

SECTION 705-240 Modified application of section 705-57

SECTION 705-245 Working out pre-CGT factors where subsidiary members have membership interests in other subsidiary members

SECTION 705-305 Object of this Subdivision

SECTION 705-310 Operation of Part IVA of the Income Tax Assessment Act 1936

SECTION 705-315 Errors that attract special adjustment action

SECTION 705-320 Tax cost setting amounts taken to be correct

SECTION 707-110 Objects of this Subdivision

SECTION 707-115 What losses this Subdivision applies to

SECTION 707-120 Transfer of loss from joining entity to head company

SECTION 707-125 Modified business continuity test for companies ' post-1999 losses

SECTION 707-130 Modified pattern of distributions test

SECTION 707-135 Transferring loss transferred to joining entity because business continuity test was satisfied

SECTION 707-140 Effect of transfer of loss

SECTION 707-145 Cancelling the transfer of the loss

SECTION 707-150 Loss cannot be utilised for income year ending after the joining time

SECTION 707-205 Modified period for test for maintaining same ownership

SECTION 707-210 Utilisation of certain losses transferred from a company depends on company that made the losses earlier

SECTION 707-305 Object of this Subdivision

SECTION 707-310 How much of a transferred loss can be utilised?

SECTION 707-315 What is a bundle of losses?

SECTION 707-320 What is the available fraction for a bundle of losses?

SECTION 707-325 Modified market value of an entity becoming a member of a consolidated group

SECTION 707-330 Losses transferred from former head company

SECTION 707-335 Limit on utilising transferred losses if circumstances change during income year

SECTION 707-340 Utilising transferred losses while exempt income remains

SECTION 707-345 Other provisions are subject to this Subdivision

SECTION 707-400 Head company's business before and after consolidation not compared

SECTION 707-405 Modified operation of other provisions

SECTION 707-410 Exit history rule does not treat entity as having made a loss

SECTION 707-415 Application of losses with nil available fraction for certain purposes

SECTION 709-55 Object of this Subdivision

SECTION 709-60 Nil balance franking account for joining entity

SECTION 709-65 Subsidiary member ' s franking account does not operate

SECTION 709-70 Credits arising in head company's franking account

SECTION 709-75 Debits arising in head company's franking account

SECTION 709-80 Subsidiary member ' s distributions on employee shares and certain preference shares taken to be distributions by the head company

SECTION 709-85 Non-share distributions by subsidiary members taken to be distributions by head company

SECTION 709-90 Subsidiary member ' s distributions to foreign resident taken to be distributions by head company

SECTION 709-95 Payment of group liability by former subsidiary member

SECTION 709-100 Refund of income tax to former subsidiary member

SECTION 709-155 Testing consolidated groups

SECTION 709-160 Subsidiary member is exempting entity

SECTION 709-165 Subsidiary member is former exempting entity

SECTION 709-170 Head company and subsidiary are exempting entities

SECTION 709-175 Head company is former exempting entity

SECTION 709-185 Joining entity ' s excess franking deficit tax offsets transferred to head company

SECTION 709-190 Exit history rule not to treat leaving entity as having a franking deficit tax offset excess

SECTION 709-205 Application of this Subdivision

SECTION 709-210 Object of this Subdivision

SECTION 709-215 Limit on deduction of bad debt

SECTION 709-220 Limit on deduction of swap loss

SECTION 711-5 Application and object of this Division

SECTION 711-10 Tax cost setting amount worked out under this Division

SECTION 711-15 Tax cost setting amount where no multiple exit

SECTION 711-20 What is the old group ' s allocable cost amount for the leaving entity?

SECTION 711-25 Terminating values of the leaving entity's assets - step 1 in working out allocable cost amount

SECTION 711-30 What is the head company ' s terminating value for an asset?

SECTION 711-35 If head company becomes entitled to certain deductions - step 2 in working out allocable cost amount

SECTION 711-40 Liabilities owed to the leaving entity by members of the old group - step 3 in working out allocable cost amount

SECTION 711-45 Liabilities etc. owed by the leaving entity - step 4 in working out allocable cost amount

SECTION 711-46 Liability arising from transfer or assignment of securitised assets

SECTION 711-50 Adjustment to allocable cost amount to ensure effect of Subdivision 165-CC not avoided - step 5 in working out allocable cost amount

SECTION 711-55 Tax cost setting amount for membership interests where multiple exit

SECTION 711-60 Membership interests treated as potentially subject to Subdivision 165-CC (about unrealised losses)

SECTION 711-65 Membership interests treated as having been acquired before 20 September 1985

SECTION 711-70 Additional integrity rule if membership interests treated as having been acquired before 20 September 1985 under section 711-65 - application of Division 149 to head company

SECTION 711-75 Additional integrity rule if membership interests treated as having been acquired before 20 September 1985 under section 711-65 - application of CGT event K6

SECTION 713-20 Increasing the step 1 amount for settled capital that could be distributed tax free in respect of discretionary interests

SECTION 713-25 Undistributed, realised profits that accrue to joined group before joining time and could be distributed tax free - step 3 in working out allocable cost amount

SECTION 713-50 Factors to consider

SECTION 713-125 Object of this Subdivision

SECTION 713-130 Choosing to form a consolidated group

SECTION 713-135 Effects of choice

SECTION 713-140 Modifications of the applied law

SECTION 713-200 What this Subdivision is about

SECTION 713-205 Objects of this Subdivision

SECTION 713-210 Partnership cost setting interests

SECTION 713-215 Terminating value for partnership cost setting interest

SECTION 713-220 Set tax cost of partnership cost setting interests if partner joins consolidated group

SECTION 713-225 Tax cost setting amount for partnership cost setting interest

SECTION 713-230 Reduction in allocable cost amount if partnership asset is over-depreciated

SECTION 713-235 Partnership joins group - set tax cost of partnership assets

SECTION 713-240 Partnership joins group - tax cost setting amount for partnership asset

SECTION 713-245 Partnership joins group - pre-CGT factor for partnership asset

SECTION 713-250 Partnership leaves group - standard provisions modified

SECTION 713-255 Partnership leaves group - tax cost setting amount for partnership cost setting interests

SECTION 713-260 Partnership leaves group - tax cost setting amount for assets consisting of being owed certain liabilities

SECTION 713-265 Partnership leaves group - adjustments to allocable cost amount of partner who also leaves group

SECTION 713-270 Partnership leaves group - certain partnership cost setting interests treated as having been acquired before 20 September 1985

SECTION 713-500 What this Subdivision is about

SECTION 713-505 Head company treated as a life insurance company

SECTION 713-510 Certain subsidiaries of life insurance companies cannot be members of consolidated group

SECTION 713-510A Disregard single entity rule in working out certain amounts in respect of life insurance company

SECTION 713-511 Treatment of certain liabilities for income year when life insurance company joins consolidated group

SECTION 713-515 Certain assets taken to be retained cost base assets where life insurance company joins group

SECTION 713-520 Valuing certain liabilities where life insurance company joins group

SECTION 713-525 Obligation to value certain assets and liabilities at joining time

SECTION 713-530 Treatment of certain losses of life insurance company

SECTION 713-535 Losses of entities whose membership interests are complying superannuation assets of life insurance company

SECTION 713-540 Losses of entities whose membership interests are segregated exempt assets of life insurance company

SECTION 713-545 Treatment of franking surplus in franking account of life insurance subsidiary joining group

SECTION 713-550 Treatment of head company ' s franking account after joining

SECTION 713-553 Special rules relating to segregated exempt assets

SECTION 713-555 Transfer from segregated exempt assets because policyholder and life insurance company are in group

SECTION 713-560 If valuation of segregated exempt assets is delayed

SECTION 713-565 Treatment of certain liabilities for income year when life insurance company leaves consolidated group

SECTION 713-570 Certain losses transferred to leaving company

SECTION 713-575 Terminating value of certain assets where life insurance company leaves group

SECTION 713-580 Valuing certain liabilities where life insurance company leaves group

SECTION 713-585 Obligation to value certain assets and liabilities at leaving time

SECTION 713-705 Certain assets taken to be retained cost base assets where general insurance company joins group

SECTION 713-710 Treatment of liabilities and reserves for income year when general insurance company joins or leaves group

SECTION 713-715 If general insurance company joins consolidated group

SECTION 713-720 If general insurance company leaves consolidated group

SECTION 713-725 Treatment of certain assets and liabilities of general insurance companies

SECTION 715-15 Object of this Subdivision

SECTION 715-25 Subdivision 165-CC stops applying to earlier changeover time

SECTION 715-30 Meaning of 165-CC tagged asset

SECTION 715-35 Meaning of final RUNL

SECTION 715-50 Step 1 amount is reduced if membership interest in subsidiary member is 165-CC tagged asset and business continuity test is failed

SECTION 715-55 Step 2 amount is affected if liability of subsidiary member is 165-CC tagged asset of another group member and business continuity test is failed

SECTION 715-60 Assets that the head company already owns

SECTION 715-70 Assets of subsidiary member that become those of head company

SECTION 715-75 Extension of single entity rule and entry history rule

SECTION 715-80 Application of sections 715-85 to 715-110

SECTION 715-85 First changeover time for leaving company at or after leaving time

SECTION 715-90 How business continuity test applies if leaving time is changeover time for leaving company

SECTION 715-95 If ownership and control of leaving entity have not changed since head company ' s last changeover time

SECTION 715-100 First choice: adjustable values of leaving assets reduced to nil

SECTION 715-105 Second choice: head company's final RUNL applied in reducing adjustable values of leaving assets that are loss assets

SECTION 715-110 Third choice: loss denial pool of leaving entity created

SECTION 715-120 What happens

SECTION 715-125 First choice: adjustable values of leaving assets reduced to nil

SECTION 715-130 Second choice: pool's loss denial balance applied in reducing adjustable values of leaving assets that are loss assets

SECTION 715-135 Third choice: loss denial pool of leaving entity created

SECTION 715-145 Effect of choice on adjustable value of leaving asset

SECTION 715-155 When asset leaves pool

SECTION 715-160 How loss denial balance is applied to losses realised on assets in pool