House of Representatives

Tax Laws Amendment (2009 Measures No. 2) Bill 2009

Tax Laws Amendment (2009 Measures No. 2) Act 2009

Explanatory Memorandum

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

Index

Schedule 1: Tax treatment of payments under financial claims scheme

Bill reference Paragraph number
Items 1 and 30, sections 16AHA of the Banking Act and 62ZZKA of the Insurance Act 1.91
Items 1 and 30, subsections 16AHA(1) of the Banking Act and 62ZZKA(1) of the Insurance Act 1.93
Items 1 and 30, subsections 16AHA(2) of the Banking Act and 62ZZKA(2) of the Insurance Act 1.95, 1.97
Items 1 and 30, subsections 16AHA(3) of the Banking Act and 62ZZKA(3) of the Insurance Act 1.101, 1.102
Items 1 and 30, subsections 16AHA(4) and (5) of the Banking Act and 62ZZKA(4) and (5) of the Insurance Act 1.99
Items 2 and 31 1.130
Item 3, paragraphs 16AK(4)(ea) and (eb) of the Banking Act 1.105
Item 8, subsection 128A(4) of the FHSA Act 1.88
Item 9, subsection 128A(2) of the FHSA Act 1.83
Item 9, subsection 128A(3) of the FHSA Act 1.84
Item 9, subsection 128A(4) of the FHSA Act 1.87
Item 9, subsection 128A(5) of the FHSA Act 1.89
Item 9, subsection 128A(6) of the FHSA Act 1.90
Item 10 1.129
Items 11 and 12, subsections 393-15(3) and (4) of Schedule 2G to the ITAA 1936 1.135
Items 12 and 13, section 393-25 of Schedule 2G to the ITAA 1936 1.136
Item 15, subsection 393-80(1) in Schedule 2G to the ITAA 1936 1.62, 1.63
Item 15, subsection 393-80(2) in Schedule 2G to the ITAA 1936 1.64
Item 15, subsection 393-80(3) in Schedule 2G to the ITAA 1936 1.65
Item 15, subsection 393-80(4) in Schedule 2G to the ITAA 1936 1.66
Item 15, subsection 393-80(6) in Schedule 2G to the ITAA 1936 Example 1.5
Item 15, subsection 393-80(7) in Schedule 2G to the ITAA 1936 1.72
Item 15, section 393-85 of Schedule 2G to the ITAA 1936 1.74, 1.75
Item 16 1.126
Items 17 to 19, subsections 104-10(5) and 104-25(5) and section 112-97 1.61
Item 20, section 253-5 1.52
Item 20, section 253-10 1.53
Item 20, section 253-15 1.56
Item 21, subsection 306-25(1) 1.77
Item 21, subsection 306-25(2) 1.79
Item 21, subsections 306-25(3) and (4) 1.80
Item 21, subsection 306-25(5) 1.81
Subitem 22(1) 1.127
Subitem 22(2) 1.128
Item 26, section 322-25 1.57
Item 26, section 322-30 1.60
Items 27 and 29 1.125
Item 32, section 62ZZM 1.59
Item 33, paragraphs 62ZZP(4)(da) and (db) of the Insurance Act 1.108
Item 34, section 21-1 of Schedule 1 to the TAA 1953 1.111
Item 34, subsection 21-5(1) of Schedule 1 to the TAA 1953 1.115
Item 34, subsection 21-5(2) of Schedule 1 to the TAA 1953 1.119
Subitem 35(1) 1.132
Subitem 35(2) 1.134

Schedule 2: CGT concessions for small business

Bill reference Paragraph number
Item 1, subparagraph 152-10(1)(c)(iii) 2.14
Item 2, subparagraph 152-10(1)(c)(iv); and item 4, subsection 152-10(1A) 2.18
Item 4, subsection 152-10(1A) 2.19
Item 4, paragraphs 152-10(1A)(a) and (d) 2.20
Item 4, paragraph 152-10(1A)(b) 2.22
Item 4, subsection 152-10(1B) 2.24, 2.25
Item 4, paragraphs 152-10(1B)(a) and (b) 2.26
Item 4, paragraph 152-10(1B)(c) 2.27
Item 4, paragraph 152-10(1B)(d) 2.28
Item 4, paragraph 152-10(1B)(e) 2.29
Item 8, paragraphs 152-40(1)(a) and (b) 2.23
Items 11 and 14, subsections 152-47(1) and (2) 2.33
Item 14, subsections 152-47(1) to (3) 2.42
Item 14, paragraph 152-47(1)(c) 2.34
Item 14, subsection 152-47(2) 2.35
Item 14, subsection 152-47(3) 2.36
Item 14, paragraph 152-47(4)(a) 2.44, 2.45
Item 14, paragraph 152-47(4)(b) 2.46
Item 14, section 152-48 2.21, 2.30, 2.48
Item 14, subsection 152-48(2) 2.49, 2.54
Item 14, subsection 152-48(3) 2.51, 2.52
Item 14, section 152-49 2.58
Item 14, subsection 152-49(1) 2.59
Item 14, subsection 152-49(2) 2.60, 2.61
Item 25, paragraph 152-20(2)(a) 2.69
Item 26, paragraph 152-40(4)(e) 2.73
Item 26, paragraph 152-40(4)(e); and item 27, subsection 152-40(4A) 2.71
Item 27, paragraphs 152-40(4A)(a) and (b) 2.76
Item 27, paragraph 152-40(4A)(b) 2.74, 2.75
Items 30 to 32, section 152-80 2.78
Items 30 to 32, subparagraphs 152-80(1)(a)(ii) and (b)(iii); and paragraph 152-80(2A)(c) 2.83
Items 30 to 32, subparagraph 152-80(1)(b)(i) and paragraph 152-80(2A)(d) 2.84
Item 34, subsection 152-305(1A) 2.86
Item 35, subsection 152-305(4) 2.96
Item 36, subsection 152-310(3) 2.87
Item 36, subsection 152-310(3); and item 38, subsections 152-325(9) and (10) 2.102
Item 37, subsection 152-325(1) 2.100
Item 38 2.104
Item 38, subsection 152-325(10) 2.107
Item 38, subsection 152-325(11) 2.103
Item 39, subsection 328-110(6) 2.112
Subitem 41(1) 2.115
Subitems 41(2) and (3) 2.119
Item 42 2.70, 2.77
Item 43 2.85
Item 44 2.89
Item 45 2.98
Item 46 2.90, 2.108
Item 47 2.114
Item 48 2.120
Subitem 48(2) 2.123

Schedule 3: Tax benefits and capital gains tax

Bill reference Paragraph number
Item 1, paragraph 118-37(1)(h) 3.8
Item 2 3.9

Schedule 4: National Urban Water and Desalination Plan

Bill reference Paragraph number
Items 1, 7 to 9 and 13 to 15 4.34
Item 2, section 13-1 4.32
Items 3 and 6 4.33
Items 4 and 5 4.35
Item 10, section 402-755 4.10
Item 10, subsection 402-760(1) 4.15
Item 10, subsection 402-760(2) 4.28
Item 10, subsections 402-760(6), 402-765(4) and 402-770(4) 4.21
Item 10, subsection 402-765(3) 4.14
Item 10, subsection 402-765(4) 4.12
Item 10, section 402-770 4.17
Item 10, subsection 402-770(7) 4.19
Item 10, section 402-775 4.20
Item 10, subsection 402-780(1) 4.23
Item 10, subsection 402-780(2) 4.24
Item 10, subsection 402-780(3) 4.25
Items 11 and 12 4.26
Items 16 to 18 4.30
Item 19 4.31

Schedule 5: Deductible gift recipients

Bill reference Paragraph number
Items 1, 3, 4 and 7 5.5
Items 2, 5 and 6 5.10
Items 8, 9, 11 and 12 5.15

Schedule 6: ABN changes

Bill reference Paragraph number
Item 2, subsection 9(2) 6.19
Item 2, subsection 9(3) 6.20
Item 3, paragraph 10(1)(ca) 6.25
Item 4, paragraph 10(2)(b) 6.26
Item 9, paragraph 14(2)(b) 6.21
Item 11, paragraph 15(3)(b) 6.22
Item 11, item 2 in the table in subsection 15(1) 6.23
Item 17, subsection 18(4) 6.24
Item 22, section 21 6.28
Item 23, paragraph 25(2)(aa) 6.30
Item 27, section 29A 6.31
Item 28, section 41 6.18
Item 31, section 41 6.29
Item 32 6.66
Item 33, paragraph 57(1)(a) in the Product Grants and Benefits Administration Act 2000 6.67
Item 34, paragraph 105-140(1)(a) in Schedule 1 to the TAA 1953 6.68
Item 37, subsection 3(4) 6.35
Item 39, section 9A 6.37
Item 40, subsection 10A(1) 6.39
Item 40, subsection 10A(2) 6.40
Item 42, section 11A 6.41
Item 43, subsection 13(1) 6.44
Item 45, subsection 13(2) 6.45
Item 47, item 3 in the table in subsection 15(1) 6.46
Item 48, subsection 18(1A) 6.47
Item 49, paragraph 18(4)(b) 6.48
Item 50, subsection 19(1) 6.50
Item 51, subsection 21(2) 6.49
Item 54, subsection 23(3) 6.51
Item 55, subsection 25(3) 6.42
Item 55, subsection 25(4) 6.43
Item 56, paragraph 29A(1)(b) 6.52
Item 57, paragraph 30(3)(e) 6.53

Schedule 7: Fuel Tax

Bill reference Paragraph number
Part 2 7.10

Schedule 8: Government grants for businesses in relation to the 2009 Victorian bushfires

Bill reference Paragraph number
Item 1 8.7
Item 2 8.5
Items 3 and 4 8.8
Item 5 8.9

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