Tax Laws Amendment (2011 Measures No. 2) Act 2011 (Cth)
This is a compilation of the
This compilation was prepared on 20 September 2013.
The notes at the end of this compilation (the
The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in the endnotes.
If the operation of a provision or amendment is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
If a provision of the compiled law is affected by a modification that is in force, details are included in the endnotes.
If a provision of the compiled law has expired or otherwise ceased to have effect in accordance with a provision of the law, details are included in the endnotes.
Contents
This Act may be cited as the
Tax Laws Amendment (2011 Measures No. 2) Act 2011 .
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Sections 1 to 3 and anything in this Act not elsewhere covered by this table | The day this Act receives the Royal Assent. | 27 June 2011 |
Schedule 1, Part 1 | 1 January 2011. | 1 January 2011 |
Schedule 1, Part 2 | The day this Act receives the Royal Assent. | 27 June 2011 |
Schedule 1, Part 3 | 1 July 2016. | 1 July 2016 |
Schedule 2 | 1 July 2011. | 1 July 2011 |
Schedule 3, Part 1 | 1 July 2011. | 1 July 2011 |
Schedule 3, Part 2 | The later of:
However, if any of the provision(s) do not commence before 1 January 2012, they commence on that day. | 1 January 2012 |
Schedule 4 | The day this Act receives the Royal Assent. | 27 June 2011 |
Schedule 5, Part 1 | The day this Act receives the Royal Assent. | 27 June 2011 |
Schedule 5, Part 2 | The day after this Act receives the Royal Assent. | 28 June 2011 |
Schedule 5, Part 3, Division 1 | The day after this Act receives the Royal Assent. | 28 June 2011 |
Schedule 5, Part 3, Division 2 | The later of:
However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur. | 1 July 2011 (paragraph (b) applies) |
Schedule 5, Parts 4 and 5 | The day this Act receives the Royal Assent. | 27 June 2011 |
Schedule 5, Part 6, Division 1 | The day this Act receives the Royal Assent. | 27 June 2011 |
Schedule 5, Part 6, Division 2 | The later of:
(b) 1 July 2011. | 1 July 2011 (paragraph (b) applies) |
Schedule 5, Part 6, Division 3 | Immediately after the commencement of item 15 of Schedule 3 to the | 1 January 2008 |
Schedule 5, Parts 7 to 27 | The day this Act receives the Royal Assent. | 27 June 2011 |
Schedule 5, item 368 | Immediately after the time specified in the | 3 June 2010 |
Schedule 5, item 369 | Immediately after the time specified in the | 3 June 2010 |
Schedule 5, item 370 | Immediately after the time specified in the | 3 June 2010 |
Schedule 5, item 371 | Immediately after the time specified in the | 3 June 2010 |
Schedule 5, item 372 | Immediately after the time specified in the | 1 July 2010 |
Schedule 5, Parts 29 to 31 | The day this Act receives the Royal Assent. | 27 June 2011 |
Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.
(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
1 Section 30‑90 (cell at table item 10.2.2, column headed “Fund, authority or institution”) Repeal the cell, substitute:
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Omit “Guides Australia Incorporated”, substitute “Girl Guides Australia”.
3
Section 30‑315 (cell at table item 53A, column without a heading) Repeal the cell, substitute:
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Add:
2.2.39 | The Charlie Perkins Scholarship Trust | the gift must be made after 1 August 2010 and before 2 August 2013 |
2.2.40 | Roberta Sykes Indigenous Education Foundation | the gift must be made after 1 August 2010 and before 2 August 2013 |
Insert:
30A | Charlie Perkins Scholarship Trust | item 2.2.39 |
Insert:
97AA | Roberta Sykes Indigenous Education Foundation | item 2.2.40 |
Insert:
The regulations may prescribe rules in relation to the trustees of regulated superannuation funds that are self managed superannuation funds making, holding and realising investments involving:
(a) artwork (within the meaning of the
Income Tax Assessment Act 1997 ); or(b) jewellery; or
(c) antiques; or
(d) artefacts; or
(e) coins or medallions; or
(f) postage stamps or first day covers; or
(g) rare folios, manuscripts or books; or
(h) memorabilia; or
(i) wine; or
(j) cars; or
(k) recreational boats; or
(l) memberships of sporting or social clubs; or
(m) assets of a particular kind, if assets of that kind are ordinarily used or kept mainly for personal use or enjoyment (not including land).
Note: The regulations may prescribe penalties of not more than 10 penalty units for offences against the regulations. See paragraph 353(1)(d).
Omit “subject to subsection 376(6),”.
Note: This item removes a cross‑reference to a provision that has been repealed.
(1) The amendment made by item 1 of this Schedule applies to investments made before, on or after the commencement of this item.
(2) To avoid doubt, regulations made for the purposes of section 62A of the
Superannuation Industry (Supervision) Act 1993 , inserted by item 1 of this Schedule, may be expressed to apply to only some of those investments.
Repeal the subsections.
Insert:
(1) This section applies if:
(a) a holder of an RSA; or
(b) a person applying to become such a holder;
quotes his or her tax file number to the RSA provider in connection with the operation, or the possible future operation, of this Act and the other Superannuation Acts.
(2) An RSA provider may, subject to any conditions contained in the regulations, use tax file numbers quoted as mentioned in subsection (1) in order to locate, in the records or accounts of the RSA provider, amounts held in RSAs provided by it.
Note: Sections 8WA and 8WB of the
Taxation Administration Act 1953 contain offences for unauthorised use etc. of tax file numbers.(3) This section does not affect the operation of subclauses 7.1 and 7.1A of National Privacy Principle 7 in Schedule 3 to the
Privacy Act 1988 .Note 1: Subclause 7.1 prohibits an RSA provider adopting a tax file number of an individual as the RSA provider’s own identifier of the individual, such as by using the tax file number as an account or membership number.
Note 2: See also Division 4 of Part III of the
Privacy Act 1988 and the guidelines issued under that Division concerning the collection, storage, use and security of tax file number information.
Repeal the subsections.
Omit “subsection (2), (3) or (5)”, substitute “subsection (2) or (3)”.
Note: The following heading to subsection 299H(6) is inserted “
Offences ”.
Omit “(2), (3) or (5)”, substitute “subsection (2) or (3)”.
Repeal the subsections.
Omit “or (5)”.
Note: The following heading to subsection 299J(6) is inserted “
Offences ”.
Repeal the subsections.
Omit “subsection (2), (3) or (5)”, substitute “subsection (2) or (3)”.
Note: The following heading to subsection 299K(6) is inserted “
Offences ”.
Repeal the subsections.
Omit “or (5)”.
Note: The following heading to subsection 299L(6) is inserted “
Offences ”.
Insert:
(1) This section applies if:
(a) a beneficiary of an eligible superannuation entity, or of a regulated exempt public sector superannuation scheme; or
(b) an applicant to become such a beneficiary;
quotes his or her tax file number to a trustee of the entity or scheme in connection with the operation, or the possible future operation, of this Act and the other Superannuation Acts.
(2) A trustee of an eligible superannuation entity, or of a regulated exempt public sector superannuation scheme, may, subject to any conditions contained in the regulations, use tax file numbers quoted as mentioned in subsection (1) in order to locate, in the records or accounts of the entity or scheme, amounts held for the benefit of persons.
Note: Sections 8WA and 8WB of the
Taxation Administration Act 1953 contain offences for unauthorised use etc. of tax file numbers.(3) This section does not affect the operation of subclauses 7.1 and 7.1A of National Privacy Principle 7 in Schedule 3 to the
Privacy Act 1988 .Note 1: Subclause 7.1 prohibits a trustee adopting a tax file number of an individual as the trustee’s own identifier of the individual, such as by using the tax file number as an account or membership number.
Note 2: See also Division 4 of Part III of the
Privacy Act 1988 and the guidelines issued under that Division concerning the collection, storage, use and security of tax file number information.
The amendments made by this Part apply to the use of tax file numbers on or after the commencement of this item, whether the tax file numbers were quoted before, on or after that commencement.
Insert:
eligible superannuation entity has the meaning given by Part 25A of theSuperannuation Industry (Supervision) Act 1993 .
Insert:
regulated exempt public sector superannuation scheme has the meaning given by Part 25A of theSuperannuation Industry (Supervision) Act 1993 .
Repeal the subsection, substitute:
(2) An RSA provider may, subject to any conditions contained in the regulations, use tax file numbers quoted as mentioned in subsection (1):
(a) in order to locate, in the records or accounts of the RSA provider, amounts held in RSAs provided by it; or
(b) in order to facilitate the consolidation of any of the following in relation to a particular person:
(i) RSAs provided by one or more RSA providers and held by the person;
(ii) interests of the person in eligible superannuation entities or regulated exempt public sector superannuation schemes.
Note: Sections 8WA and 8WB of the
Taxation Administration Act 1953 contain offences for unauthorised use etc. of tax file numbers.(2A) Without limiting subsection (2), regulations made for the purposes of that subsection may contain conditions relating to:
(a) a person consenting to use of a tax file number; or
(b) procedures to be followed in a consolidation mentioned in paragraph (2)(b), including procedures to safeguard the integrity of the consolidation; or
(c) an RSA provider disclosing tax file numbers to another RSA provider, or to a trustee of an eligible superannuation entity or of a regulated exempt public sector superannuation scheme, in order to facilitate such a consolidation.
Note: The heading to section 137A is altered by adding at the end “
or for consolidation ”.
Repeal the subsection, substitute:
(2) A trustee of an eligible superannuation entity, or of a regulated exempt public sector superannuation scheme, may, subject to any conditions contained in the regulations, use tax file numbers quoted as mentioned in subsection (1):
(a) in order to locate, in the records or accounts of the entity or scheme, amounts held for the benefit of persons; or
(b) in order to facilitate the consolidation of any of the following in relation to a particular person:
(i) RSAs provided by one or more RSA providers and held by the person;
(ii) interests of the person in eligible superannuation entities or regulated exempt public sector superannuation schemes.
Note: Sections 8WA and 8WB of the
Taxation Administration Act 1953 contain offences for unauthorised use etc. of tax file numbers.(2A) Without limiting subsection (2), regulations made for the purposes of that subsection may contain conditions relating to:
(a) a person consenting to use of a tax file number; or
(b) procedures that must be followed in a consolidation mentioned in paragraph (2)(b), including procedures to safeguard the integrity of the consolidation; or
(c) a trustee disclosing tax file numbers to another trustee, or to an RSA provider, in order to facilitate such a consolidation.
Note: The heading to section 299LA is altered by adding at the end “
or for consolidation ”.
The amendments made by this Part apply to the use of tax file numbers on or after the commencement of this item, whether the tax file numbers were quoted before, on or after that commencement.
(1) A regulation:
(a) made for the purposes of subsection 137A(2) of the
Retirement Savings Accounts Act 1997 ; and(b) in force immediately before the commencement of this item;
has effect, after the commencement of this item, as if it had been made for the purposes of that subsection as amended by this Part.
(2) A regulation:
(a) made for the purposes of subsection 299LA(2) of the
Superannuation Industry (Supervision) Act 1993 ; and(b) in force immediately before the commencement of this item;
has effect, after the commencement of this item, as if it had been made for the purposes of that subsection as amended by this Part.
Repeal the subparagraph, substitute:
(i) is not an amount, the payment of which (or the discharging of a liability to make a payment of which), because of Division 81 or regulations made under that Division, is not the provision of *consideration; and
Note: Division 81 excludes certain taxes, fees and charges from the provision of consideration.
Repeal the Division, substitute:
GST does not apply to payments of taxes, fees and charges that are excluded from the GST by this Division or by regulations.
GST applies to certain taxes, fees and charges prescribed by regulations.
Australian tax not consideration
(1) A payment, or the discharging of a liability to make a payment, is not the provision of *consideration to the extent the payment is an *Australian tax.
Regulations may provide for exceptions
(2) However, a payment you make, or a discharging of your liability to make a payment, is treated as the provision of *consideration to the extent the payment is an *Australian tax that is, or is of a kind, prescribed by the regulations.
(3) For the purposes of subsection (2), the *consideration is taken to be provided to the entity to which the tax is payable, for a supply that the entity makes to you.
Certain fees and charges not consideration
(1) A payment, or the discharging of a liability to make a payment, is not the provision of *consideration to the extent the payment is an *Australian fee or charge that is of a kind covered by subsection (4) or (5).
Prescribed fees and charges treated as consideration
(2) However, a payment you make, or a discharging of your liability to make a payment, is treated as the provision of *consideration to the extent the payment is an *Australian fee or charge that is, or is of a kind, prescribed by the regulations.
(3) For the purposes of subsection (2), the *consideration is taken to be provided to the entity to which the fee or charge is payable, for a supply that the entity makes to you.
Fees or charges paid for permissions etc.
(4) This subsection covers a fee or charge if the fee or charge:
(a) relates to; or
(b) relates to an application for;
the provision, retention, or amendment, under an *Australian law, of a permission, exemption, authority or licence (however described).
Fees or charges relating to information and record‑keeping etc.
(5) This subsection covers a fee or charge paid to an *Australian government agency if the fee or charge relates to the agency doing any of the following:
(a) recording information;
(b) copying information;
(c) modifying information;
(d) allowing access to information;
(e) receiving information;
(f) processing information;
(g) searching for information.
The regulations may provide that the payment of a prescribed *Australian fee or charge, or of an Australian fee or charge of a prescribed kind, or the discharging of a liability to make such a payment, is not the provision of *consideration.
This Division has effect despite section 9‑15 (which is about consideration).
Despite subsection 12(2) of the
Legislative Instruments Act 2003 , regulations made for the purposes of subsection 81‑5(2), 81‑10(2) or section 81‑15 may be expressed to take effect from a date before the regulations are registered under that Act.
Repeal the subsection, substitute:
(3) If the other supply constitutes the payment of:
(a) an *Australian tax prescribed by regulations made for the purposes of subsection 81‑5(2); or
(b) an *Australian fee or charge prescribed by regulations made for the purposes of subsection 81‑10(2);
this section overrides those regulations in relation to the payment.
Repeal the subparagraph, substitute:
(i) is not an amount, the payment of which (or the discharging of a liability to make a payment of which), because of Division 81 or regulations made under that Division, is not the provision of *consideration; and
Note: Division 81 excludes certain taxes, fees and charges from the provision of consideration.
Insert:
Australian fee or charge means a fee or charge (however described), other than an *Australian tax, imposed under an *Australian law and payable to an *Australian government agency.
Insert:
Australian tax means a tax (however described) imposed under an *Australian law.
7
Section 195‑1 (definition of Australian tax, fee or charge ) Repeal the definition.
8
Section 195‑1 (note at the end of the definition of connected with Australia ) Omit “sections 81‑10 and 96‑5”, substitute “section 96‑5”.
9
Section 195‑1 (note at the end of the definition of consideration ) After “81‑5,”, insert “81‑10, 81‑15,”.
10
Section 195‑1 (note at the end of the definition of taxable supply ) Omit “81‑10,”.
Omit “*Australian tax, fee or charge”, substitute “*Australian tax or *Australian fee or charge”.
Omit “*Australian tax, fee or charge”, substitute “*Australian tax or *Australian fee or charge”.
Insert:
Australian fee or charge has the meaning given by section 195‑1 of the *GST Act.
Insert:
Australian tax has the meaning given by section 195‑1 of the *GST Act.
15
Section 27‑1 (definition of Australian tax, fee or charge ) Repeal the definition.
(1) The amendments made by this Schedule apply in relation to the payment, or the discharging of liability to make a payment, relating to an Australian tax, or an Australian fee or charge, imposed on or after 1 July 2011.
(2) However, the amendments do not apply in relation to a payment, or a discharge of a liability to make a payment, relating to an Australian tax, or an Australian fee or charge, imposed before 1 July 2012 if the payment is of a kind specified by legislative instrument (a
Division 81 determination ):
(a) made for the purposes of subsection 81‑5(2) of the
A New Tax System (Goods and Services Tax) Act 1999 ; and(b) in force immediately before the commencement of this item.
(3) Despite the repeal of subsection 81‑5(2) of the
A New Tax System (Goods and Services Tax) Act 1999 by item 2 of this Schedule, a Division 81 determination continues to have effect, after the commencement of this item and before 1 July 2012, as if the repeal had not happened.
Omit “agent’s”, substitute “intermediary’s”.
Note: This item amends a reference to “agent’s” that was not amended when Schedule 3 to the
Tax Laws Amendment (2009 GST Administration Measures) Act 2010 replaced references to “agent” in section 153‑50 of theA New Tax System (Goods and Services Tax) Act 1999 with references to “intermediary”.
Omit “means”.
Note: Items 2 and 3 fix a grammatical error.
3 Section 195‑1 (paragraph (b) of the definition of member ) Before “an entity”, insert “means”.
Repeal the subsections, substitute:
Endorsed funds
(2) A fund is also an
approved worker entitlement fund if:
(a) the fund is endorsed as an approved worker entitlement fund under subsection (3); or
(b) the entity that operates the fund is endorsed for the operation of the fund under subsection (3A).
(3) The Commissioner must endorse a fund as an approved worker entitlement fund if:
(a) the fund is entitled to be endorsed as an approved worker entitlement fund (see subsection (4)); and
(b) the fund has applied for the endorsement in accordance with Division 426 in Schedule 1 to the
Taxation Administration Act 1953 .(3A) The Commissioner must endorse an entity for the operation of a fund as an approved worker entitlement fund if:
(a) the entity is entitled to be endorsed for the operation of the fund as an approved worker entitlement fund (see subsection (4A)); and
(b) the entity has applied for the endorsement in accordance with Division 426 in Schedule 1 to the
Taxation Administration Act 1953 .
Omit “Before the Governor‑General makes a regulation under paragraph (2)(a) prescribing a fund for the purposes of that paragraph, the Commissioner must be satisfied that”, substitute “A fund is entitled to be endorsed as an approved worker entitlement fund if”.
Add:
; and (f) the fund, or the entity that operates the fund, has an ABN.
Insert:
(4A) An entity is entitled to be endorsed for the operation of a fund as an approved worker entitlement fund if the fund is entitled to be endorsed as an approved worker entitlement fund.
Repeal the section.
Repeal the paragraph, substitute:
(b) the amendment or replacement is done for the purpose of having:
(i) the fund endorsed as an approved worker entitlement fund under subsection 58PB(3) of the
Fringe Benefits Tax Assessment Act 1986 ; or(ii) the entity that operates the fund endorsed for the operation of the fund as an approved worker entitlement fund under subsection 58PB(3A) of that Act.
Insert:
(ba) endorsement of:
(i) a fund as an approved worker entitlement fund under subsection 58PB(3) of the
Fringe Benefits Tax Assessment Act 1986 ; or(ii) an entity for the operation of a fund as an approved worker entitlement fund under subsection 58PB(3A) of that Act;
11
Section 426‑55 in Schedule 1 (paragraph (b) of the note) After “subsections”, insert “58PB(4) and (4A),”.
Insert:
(ba) as an approved worker entitlement fund under subsection 58PB(3) of the
Fringe Benefits Tax Assessment Act 1986 ;(bb) for the operation of an approved worker entitlement fund under subsection 58PB(3A) of the
Fringe Benefits Tax Assessment Act 1986 ;
13
Transitional provision—approved worker entitlement funds
Scope (1) This item applies to a fund that, just before the commencement of this item, was an approved worker entitlement fund under subsection 58PB(2) of the
Fringe Benefits Tax Assessment Act 1986 .
Fund taken to have been endorsed (2) Treat the fund as having been endorsed, on that commencement, by the Commissioner under subsection 58PB(3) of that Act, as amended by this Part.
(3) To avoid doubt, subitem (2) does not prevent the Commissioner from revoking that endorsement at a later time under section 426‑55 in Schedule 1 to the
Taxation Administration Act 1953 .
Fund not required to have ABN for 6 months (4) Paragraph 58PB(4)(f) of the
Fringe Benefits Tax Assessment Act 1986 , as added by this Part, does not apply to the fund before the end of the period of 6 months starting on the day this item commences.
14
Transitional provision—Australian Business Registrar During the period of 18 months starting on the day this item commences, the Australian Business Registrar:
(a) may enter, but is not required to enter, in the Australian Business Register under subsection 426‑65(1) in Schedule 1 to the
Taxation Administration Act 1953 a statement that:
(i) an approved worker entitlement fund is endorsed as mentioned in paragraph (ba) of that subsection, as inserted by this Part; or
(ii) an entity is endorsed as mentioned in paragraph (bb) of that subsection, as inserted by this Part; and
(b) may publish on the Australian Taxation Office website, in relation to an approved worker entitlement fund:
(i) the name of the fund; and
(ii) the ABN (within the meaning of the
A New Tax System (Australian Business Number) Act 1999 ) of the fund, or of the entity that operates the fund; and(iii) the date on which the fund was endorsed as mentioned in paragraph (ba) of that subsection, or on which an entity was endorsed for the operation of the fund under paragraph (bb) of that subsection.
15 Subsection 6(1) (definition of Employment Department ) Repeal the definition.
16 Subsection 6(1) (definition of Employment Minister ) Repeal the definition.
17 Subsection 6(1) (definition of Employment Secretary ) Repeal the definition, substitute:
Employment Secretary has the meaning given by theIncome Tax Assessment Act 1997 .
Insert:
Employment Department means the Department that:
(a) deals with matters arising under Chapter 2 of the
Fair Work Act 2009 ; and(b) is administered by the *Employment Minister.
Insert:
Employment Minister means the Minister administering Chapter 2 of theFair Work Act 2009 .
Insert:
Employment Secretary means the Secretary of the *Employment Department.
21 Subsection 355‑65(2) in Schedule 1 (cell at table item 4, column headed “The record is made for or the disclosure is to ...”) At the end of the cell, add “or the *Employment Secretary”.
22 Subsection 355‑65(2) in Schedule 1 (cell at table item 6, column headed “The record is made for or the disclosure is to ...”) At the end of the cell, add “or the Chief Executive Officer of Centrelink”.
23 Subsection 355‑65(5) in Schedule 1 (paragraph (b) of the cell at table item 2, column headed “and the record or disclosure ...”) Omit “or residential address information”, substitute “, residential address information or spousal information”.
24 Subsection 355‑65(2) in Schedule 1 (table item 6, column headed “The record is made for or the disclosure is to ...”) Omit “Chief Executive Officer of Centrelink”, substitute “Chief Executive Centrelink (within the meaning of the
Human Services (Centrelink) Act 1997 )”.
Repeal the note, substitute:
Note: There are also exceptions for employee share trusts: see sections 130‑80 and 130‑90.
Add:
Note: There is also an exception for employee share trusts: see section 130‑90.
Insert:
Shares held for future acquisition under employee share schemes
(1A) Disregard any *capital gain or *capital loss made by an *employee share trust to the extent that it results from a *CGT event, if:
(a) immediately before the event happens, an *ESS interest is a *CGT asset of the trust; and
(b) either of the following subparagraphs applies:
(i) the event is CGT event E5, and the event happens because a beneficiary of the trust becomes absolutely entitled to the ESS interest as against the trustee;
(ii) the event is CGT event E7, and the event happens because the trustee *disposes of the ESS interest to a beneficiary of the trust; and
(c) Subdivision 83A‑B or 83A‑C (about employee share schemes) applies to the ESS interest.
Shares held to satisfy the future exercise of rights acquired under employee share schemes
After “Subsection”, insert “(1A) or”.
The amendments made by this Division apply in relation to CGT events that happened, or that happen, on or after 1 July 2009.
Insert:
(2A) To avoid doubt, for the purposes of subparagraph (2)(a)(i), section 139CDA of the
Income Tax Assessment Act 1936 applied to the interest at the pre‑Division 83A time if the taxpayer in question first became or becomes an employee, as mentioned in that section, before the cessation time for the interest. It does not matter whether the employee so became or becomes an employee before, on or after the pre‑Division 83A time.Note: Section 139CDA was about shares or rights acquired while engaged in foreign service.
Add:
Amendment of assessments
(3) Section 170 of the
Income Tax Assessment Act 1936 does not prevent the amendment of an assessment at any time for the purpose of giving effect to subsection (2) of this section.
Insert:
125‑B Consequences for owners of interests
125‑75 Employee share schemes
Despite the amendment of section 125‑75 of the
Income Tax Assessment Act 1997 made by Schedule 1 to theTax Laws Amendment (2009 Budget Measures No. 2) Act 2009 , subsection (1) of that section continues to apply, from the commencement of that Schedule, to each ownership interest that it applied to just before that commencement.
33 Section 130‑100 (the section 130‑100 inserted by item 40 of Schedule 1 to the Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009 ) Renumber as section 130‑97.
Omit “Subsections (4) and (5) list”, substitute “Subsection (4) lists”.
Repeal the subsections, substitute:
(4) The following table is an index of the laws that deal with liability to the charge.
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36 Subsection 30‑20(2) (table items 1.2.2 and 1.2.3) Repeal the items.
37 Subsection 30‑20(2) (cell at table item 1.2.4, column headed “Fund, authority or institution”) Repeal the cell, substitute:
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38 Subsection 30‑20(2) (table items 1.2.11 and 1.2.15) Repeal the items.
39 Subsection 30‑25(2) (table items 2.2.15 and 2.2.19) Repeal the items.
Repeal the item.
41
Subsection 30‑45(2) (table items 4.2.5 and 4.2.15) Repeal the items.
42
Subsection 30‑50(2) (table items 5.2.16, 5.2.24 and 5.2.27) Repeal the items.
43
Section 30‑65 (table items 7.2.1, 7.2.2 and 7.2.4) Repeal the items.
44
Subsection 30‑80(2) (table items 9.2.2, 9.2.15 and 9.2.16) Repeal the items.
Repeal the item.
46
Section 30‑105 (table items 13.2.5, 13.2.11 and 13.2.14)
Repeal the items.
47
Section 30‑315 (table items 5, 19, 21, 24, 25, 25C, 26, 28AAA, 28A, 28AB, 31A, 34, 38, 50A, 60A, 61, 83 and 91) Repeal the items.
Insert:
98A | Royal Australian and New Zealand College of Radiologists | item 1.2.4 |
49 Section 30‑315 (table items 105B, 112AFA, 112AG, 112BA and 121C) Repeal the items.
50 Transitional provision—endorsement as deductible gift recipients (1) Treat Breast Cancer Network Australia and Indigenous Community Volunteers Limited as having been endorsed as deductible gift recipients under section 30‑120 of the
Income Tax Assessment Act 1997 at the commencement of this item.(2) To avoid doubt, subitem (1) does not prevent the Commissioner from revoking either or both of those endorsements at a later time under section 426‑55 in Schedule 1 to the
Taxation Administration Act 1953 .
Repeal the item.
Repeal the item.
53
Section 30‑105 (table items 13.2.4, 13.2.6, 13.2.12 and 13.2.13) Repeal the items.
54
Section 30‑315 (table items 20AA, 45AA, 49A, 81, 86F and 127AA) Repeal the items.
Omit “
49A, ”.Note: This item makes an amendment consequential on item 3 of Schedule 6 to the
Tax Laws Amendment (2008 Measures No. 2) Act 2008 .
To avoid doubt, item 15 of Schedule 3 to the
Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006 is taken never to have repealed item 49A of the table in section 30‑105 of theIncome Tax Assessment Act 1997.
Add “and”.
Note: This item and items 59 and 60 add conjunctions at the end of paragraphs, for consistency with current drafting practice.
After “that service” (first occurring), insert “. The amount of the rebate is”.
Add “and”.
Add “or”.
61 Subsection 6(1) (at the end of the definition of dividend ) Add:
Note: Subsection (4) sets out when paragraph (d) of this definition does not apply.
62 Subsection 6(1) (at the end of the definition of permanent establishment ) Add:
Note: Subsection (6) treats a person as carrying on, at or through a permanent establishment that is a place described in paragraph (d) of this definition, the business of selling the goods manufactured, assembled, processed, packed or distributed by the other person as described in that paragraph.
Repeal the definition, substitute:
RSA has the same meaning as in theIncome Tax Assessment Act 1997 .Note: That Act defines
RSA as having the meaning given by theRetirement Savings Accounts Act 1997 .
Repeal the definition, substitute:
RSA provider has the same meaning as in theIncome Tax Assessment Act 1997 .Note: That Act defines
RSA provider as having the same meaning as in theRetirement Savings Accounts Act 1997 .
Add “and”.
Omit “Australia; and”, substitute “Australia.”.
Repeal the paragraph.
Omit “class C”.
69
Application provision—amendment of paragraph 45C(3)(a) The amendment of paragraph 45C(3)(a) of the
Income Tax Assessment Act 1936 made by this Part applies to notices of determination under section 45B of that Act served on or after 1 July 2002.
Repeal the subsections.
Omit “referred to in paragraph (1)(b)”, substitute “under section 45A”.
72
Application provision—amendment of subsection 45D(2) The amendment of subsection 45D(2) of the
Income Tax Assessment Act 1936 made by this Part applies to determinations made under section 45A of that Act on or after 24 October 2002.
Note: The heading to section 159HA is altered by omitting “
, 159K ”.
Omit “the the”, substitute “the”.
Repeal the section.
Omit “Division 785”, substitute “the
Medicare Levy Act 1986 and Part VIIB of theIncome Tax Assessment Act 1936 ”.
76 Section 11‑15 (table item headed “United Nations”) Omit:
|
|
Omit “*subject to tax” (wherever occurring), substitute “*subject to foreign tax”.
Note: This item corrects references to a definition that was repealed.
Omit “tax debts”, substitute “*tax debts”.
Repeal the paragraph.
Repeal the item.
Omit:
|
|
Repeal the item.
Repeal the heading, substitute:
Repeal the items.
Omit “quarter”, substitute “*quarter”.
86
Subsection 114‑15(3) (method statement, steps 1 and 3) Omit “quarter”, substitute “*quarter”.
Omit “quarter”, substitute “*quarter”.
Omit “quarter”, substitute “*quarter”.
Repeal the paragraph, substitute:
(a) 4 years, or a longer time allowed by the Commissioner, before the *dwelling becomes your main residence; and
90
Application provision—amendment of subsection 118‑150(4) The amendment of subsection 118‑150(4) of the
Income Tax Assessment Act 1997 made by this Part applies in relation to CGT events happening on or after the day this Act receives the Royal Assent.
Repeal the note, substitute:
Note: For determining whether an entity is a small business entity, see Subdivision 328‑C (as affected by sections 152‑48 and 152‑78).
Repeal the note, substitute:
Note 1: The meaning of
connected with is affected by section 152‑78.Note 2: For determining whether an entity is a small business entity, see Subdivision 328‑C (as affected by sections 152‑48 and 152‑78).
Omit “Note 2:”, substitute “Note 3:”.
After “Note”, insert “1”.
Add:
Note 2: The meaning of
connected with is affected by section 152‑78.
96
At the end of subsections 152‑20(2), (3) and (4) Add:
Note: The meaning of
connected with is affected by section 152‑78.
Omit “152‑42”, substitute “152‑78”.
Add:
Note: The meaning of
connected with is affected by section 152‑78.
Repeal the section.
Add:
Note: The meaning of
connected with an entity is affected by section 152‑78.
Add:
Note: Paragraphs (a) and (b)—the meaning of
connected with is affected by section 152‑78.
Insert:
(1) This section applies for the purposes of determining whether an entity is *connected with you, for the purposes of:
(a) this Subdivision; and
(b) sections 328‑110, 328‑115 and 328‑125 so far as they relate to this Subdivision.
(2) The trustee of a discretionary trust may nominate not more than 4 beneficiaries as being controllers of the trust for an income year (the
relevant income year ) for which the trustee did not make a distribution of income or capital if the trust had a *tax loss, or no *net income, for that year.(3) A nomination under subsection (2) has effect as if each nominated beneficiary controlled the trust for the relevant income year in a way described in section 328‑125.
Note: This means each nominated beneficiary is connected with the trust.
(4) A nomination under subsection (2) must:
(a) be in writing; and
(b) be signed by the trustee and by each nominated beneficiary.
Repeal the note, substitute:
Note: For small business CGT relief purposes, additional entities may be treated as being connected with you or your affiliate under sections 152‑48 and 152‑78.
104
Subsection 995‑1(1) (note at the end of the definition of connected with ) Omit “152‑42”, substitute “152‑78”.
Application provision (1) Section 152‑78 of the
Income Tax Assessment Act 1997 applies:
(a) for the purposes of the following provisions relating to CGT events that happen on or after the day this Act receives the Royal Assent:
(i) Subdivision 152‑A of that Act;
(ii) sections 328‑110, 328‑115 and 328‑125 of that Act so far as they relate to that Subdivision; and
(b) for the purposes of the following provisions (and not any other provisions of Subdivision 152‑A of that Act) relating to CGT events that happen before the day this Act receives the Royal Assent but after the start of the 2007‑08 income year:
(i) paragraph 152‑10(1A)(a) of that Act;
(ii) another provision of that Subdivision so far as the provision relates to that paragraph;
(iii) sections 328‑110, 328‑115 and 328‑125 of that Act so far as they relate to a provision covered by subparagraph (i) or (ii) of this paragraph.
Note: Section 152‑78 of the
Income Tax Assessment Act 1997 does not apply for the purposes of a provision of Subdivision 152‑A of that Act that is not covered by subparagraph (1)(b)(i) or (ii) of this item relating to CGT events that happen between the start of the 2007‑08 income year and the day this Act receives the Royal Assent.(2) The repeal of section 152‑42 of the
Income Tax Assessment Act 1997 applies for the purposes of subparagraph 152‑40(1)(a)(iii) or paragraph 152‑40(1)(b) of that Act relating to CGT events that happen on or after the day this Act receives the Royal Assent.
Extension of time to make choice
(3) Subitem (4) applies in relation to:
(a) a CGT event that happened before the day this Act receives the Royal Assent; and
(b) an entity that becomes eligible to make a choice under Division 152 of the
Income Tax Assessment Act 1997 in relation to that event because of the satisfaction of the conditions in subsection 152‑10(1A) of that Act because of this Part.(4) Despite subsection 103‑25(1) of the
Income Tax Assessment Act 1997 , any such choice by the entity must be made by the latest of:
(a) the day the entity lodges its income tax return for the income year in which the relevant CGT event happened; and
(b) 12 months after the day this Act receives the Royal Assent; and
(c) a later day allowed by the Commissioner of Taxation.
Omit “fixed entitlements”, substitute “*fixed entitlements”.
Omit “fixed trusts”, substitute “*fixed trusts”.
Omit “fixed entitlements”, substitute “*fixed entitlements”.
After “to”, insert “subsections (3) and (4) of”.
Omit “fixed entitlements”, substitute “*fixed entitlements”.
Omit “non‑fixed trusts”, substitute “*non‑fixed trusts”.
Omit “fixed trust”, substitute “*fixed trust”.
Omit “fixed entitlements” (first occurring), substitute “*fixed entitlements”.
Omit “fixed entitlements”, substitute “*fixed entitlements”.
Omit “non‑fixed trust (other than an excepted trust) that, at any time during the *ownership test period, held directly or indirectly a fixed entitlement”, substitute “*non‑fixed trust (other than an *excepted trust) that, at any time during the *ownership test period, held directly or indirectly a *fixed entitlement”.
Add:
Note: See section 165‑245 for when an entity is taken to have held or had, directly or indirectly, a fixed entitlement to a share of income or capital of a company.
Omit “fixed entitlements”, substitute “*fixed entitlements”.
Omit “non‑fixed trusts”, substitute “*non‑fixed trusts”.
Omit “fixed trust”, substitute “*fixed trust”.
Omit “*family trusts”, substitute “family trusts”.
Omit “fixed entitlements” (first occurring), substitute “*fixed entitlements”.
Omit “fixed entitlements”, substitute “*fixed entitlements”.
Omit “non‑fixed trust (other than an excepted trust) that, at any time in the income year, held directly or indirectly a fixed entitlement”, substitute “*non‑fixed trust (other than an *excepted trust) that, at any time in the income year, held directly or indirectly a *fixed entitlement”.
Add:
Note: See section 165‑245 for when an entity is taken to have held or had, directly or indirectly, a fixed entitlement to a share of income or capital of a company.
Repeal the section, substitute:
(1) If:
(a) the company is required to calculate:
(i) its taxable income and *tax loss for the income year under Subdivision 165‑B; and
(ii) its *net capital gain and *net capital loss for the income year under Subdivision 165‑CB; and
(b) the company meets the requirements of subsections 165‑220(2) and (4);
then, in dividing the income year into periods, apply subsection (2) of this section instead of subsections 165‑45(3) and (4).
(2) The last period ends at the end of the income year. Each period (except the last) ends at the earliest of:
(a) the latest time that would result in the persons holding *fixed entitlements to shares of the income or shares of the capital of:
(i) if the company meets the requirements of paragraph 165‑220(2)(a)—the company; or
(ii) if the company meets the requirements of paragraph 165‑220(2)(b)—the holding entity mentioned in that paragraph;
and the percentages of the shares that they hold, remaining the same during the whole of the period; and
(b) the times that, for all of the *non‑fixed trusts, other than *excepted trusts, holding directly or indirectly a fixed entitlement to a share of the income or capital of the company at any time during the income year, are the latest times that would result in individuals having *more than a 50% stake in their income or capital; and
(c) the earliest time in the period when a group (within the meaning of Schedule 2F to the
Income Tax Assessment Act 1936 ) begins to *control a non‑fixed trust, other than an excepted trust, that holds directly or indirectly a fixed entitlement to a share of the income or capital of the company at any time during the income year.Note: See section 165‑245 for when an entity is taken to have held or had, directly or indirectly, a fixed entitlement to a share of income or capital of a company.
Omit “fixed entitlements”, substitute “*fixed entitlements”.
Omit “non‑fixed trusts”, substitute “*non‑fixed trusts”.
Omit “fixed trust”, substitute “*fixed trust”.
Omit “*family trusts”, substitute “family trusts”.
Omit “fixed entitlements” (first occurring), substitute “*fixed entitlements”.
Omit “fixed entitlements”, substitute “*fixed entitlements”.
Omit “non‑fixed trust (other than an excepted trust) that, at any time during the *ownership test period, held directly or indirectly a fixed entitlement”, substitute “*non‑fixed trust (other than an *excepted trust) that, at any time during the *ownership test period, held directly or indirectly a *fixed entitlement”.
Add:
Note: See section 165‑245 for when an entity is taken to have held or had, directly or indirectly, a fixed entitlement to a share of income or capital of a company.
Omit “non‑fixed trust”, substitute “*non‑fixed trust”.
Omit “non‑fixed trust”, substitute “*non‑fixed trust”.
Omit “non‑fixed trust”, substitute “*non‑fixed trust”.
Repeal the section, substitute:
For the purposes of this Act, an entity is taken to have held or had, directly or indirectly, a *fixed entitlement to a share of income or capital of a company at a time if and only if the entity held or had, directly or indirectly, that fixed entitlement at that time for the purposes of Schedule 2F to the
Income Tax Assessment Act 1936 .
Omit “more than a 50% stake”, substitute “*more than a 50% stake”.
Omit “(as defined in that Schedule)”.
Omit “, as defined in that Schedule,”.
Insert:
control a non‑fixed trust has the meaning given by Subdivision 269‑E in Schedule 2F to theIncome Tax Assessment Act 1936 .
Insert:
excepted trust has the meaning given by section 272‑100 in Schedule 2F to theIncome Tax Assessment Act 1936 .
143
Subsection 995‑1(1) (definition of fixed entitlement ) After “capital of a”, insert “company, partnership or”.
144
Subsection 995‑1(1) (at the end of the definition of fixed entitlement ) Add:
Note: Section 165‑245 affects when an entity is taken to have held or had, directly or indirectly, a fixed entitlement to a share of income or capital of a company.
145
Subsection 995‑1(1) (definition of more than a 50% stake ) Repeal the definition, substitute:
more than a 50% stake :
(a)
more than a 50% stake in a company has the meaning given by section 165‑37; and(b)
more than a 50% stake in the income or capital of a trust has the meaning given by section 269‑50 in Schedule 2F to theIncome Tax Assessment Act 1936 .
Omit “fixed entitlements”, substitute “*fixed entitlements”.
Omit “fixed entitlement”, substitute “*fixed entitlement”.
Repeal the section, substitute:
(1) This Subdivision applies to an entity if the difference between:
(a) the *benchmark franking percentage for the entity for a *franking period (the
current franking period ); and
(b) the benchmark franking percentage for the entity for the last franking period in which a *frankable distribution was made (the
last relevant franking period );is more than the amount worked out using the following formula (whether the percentage for the current franking period is more than or less than the percentage for the last relevant franking period):
(2) However, this Subdivision does not apply to an entity to which the benchmark rule does not apply.
Note: Section 203‑20 identifies the entities to which the benchmark rule does not apply.
Repeal the subsections, substitute:
(1) The entity must notify the Commissioner in writing of the difference.
Omit “If the *benchmark franking percentage for an entity for a *franking period (the
current franking period ) *differs significantly from the benchmark franking percentage for the entity for the last franking period in which a *frankable distribution was made (thelast relevant franking period ), the”, substitute “The”.
Omit “*virtual PST assets”, substitute “*complying superannuation/FHSA assets”.
Omit “virtual PST assets”, substitute “complying superannuation/FHSA assets”.
153
Application provision—amendments of paragraph 320‑141(2)(a) The amendments of paragraph 320‑141(2)(a) of the
Income Tax Assessment Act 1997 made by this Part apply on and after 26 June 2008.
154 Section 13‑1 (table item headed “land transport facilities borrowings”) Repeal the item.
Omit “
facilities ”, substitute “facilities”.
Repeal the paragraph.
Omit “other”.
Repeal the Division.
159
Subsection 995‑1(1) (definition of land transport facilities borrowings agreement ) Repeal the definition.
160
Subsection 995‑1(1) (definition of land transport facility ) Repeal the definition.
161
Subsection 995‑1(1) (definition of LTF interest ) Repeal the definition.
162
Subsection 995‑1(1) (definition of related facility ) Repeal the definition.
Add:
Reducing uplift to prevent double increase in cost base etc.
(3) However, if, apart from paragraph (2)(b), an amount is included in the *cost base or *reduced cost base of an *up interest as a result of the *scheme under which the *direct value shift happens, the uplift in the *adjustable value of the interest under that paragraph is reduced by that amount.
Add:
Note: If subsection 725‑250(3) is relevant, it will affect all the uplifts worked out under all those items.
Insert:
Reducing uplift to prevent double increase in adjustable value
(3A) However, if, apart from paragraph (3)(b), an amount is included, as a result of the *scheme under which the *direct value shift happens, in the *adjustable value of an *up interest that is your *trading stock or *revenue asset, the uplift in the adjustable value of the interest under that paragraph is reduced by that amount.
Add:
Note: If subsection 725‑335(3A) is relevant, it will affect all the uplifts worked out under all those items.
Subsections 725‑250(3) and 725‑335(3A) of the
Income Tax Assessment Act 1997 apply in relation to schemes entered into on or after the commencement of those subsections.
Insert:
ineligible income tax remission decision has the meaning given by section 14ZS.
169
Section 14ZQ (definition of ineligible income tax remission decision ) Repeal the definition.
Repeal the subsection.
Omit “(2) An objection decision is an ineligible income tax remission decision”, substitute “(1) An objection decision is an
ineligible income tax remission decision ”.
Renumber as subsection (2).
Omit “fixed trust”, substitute “*fixed trust”.
Omit “a *chain of fixed trusts”, substitute “a *chain of trusts, each trust in which is a fixed trust”.
Omit “a *chain of fixed trusts”, substitute “a *chain of trusts, each trust in which is a fixed trust”.
176 Subsection 6(1) (definition of income from personal exertion ) Omit “him” (wherever occurring), substitute “the taxpayer”.
177 Subsection 6(1) (paragraph (a) of the definition of income from personal exertion ) Omit “his”, substitute “the taxpayer’s”.
178 Subsection 6(1) (paragraph (e) of the definition of permanent establishment ) After “his”, insert “or her”.
179 Subsection 6(1) (subparagraphs (a)(i) and (ii) of the definition of resident ) Omit “his”, substitute “the person’s”.
180 Subsection 6(1) (subparagraph (a)(ii) of the definition of resident ) Omit “he”, substitute “the person”.
Omit “his” (wherever occurring), substitute “the person’s”.
After “him”, insert “or her”.
After “he”, insert “or she”.
After “him”, insert “or her”.
Omit “he”, substitute “the person”.
After “his”, insert “, her”.
After “his”, insert “or her”.
After “he”, insert “or she”.
After “him”, insert “or her”.
After “his”, insert “or her”.
Omit “he” (wherever occurring), substitute “the member”.
Omit “his”, substitute “the member’s”.
Omit “he” (wherever occurring), substitute “the member”.
Omit “his”, substitute “the member’s”.
Omit “he” (wherever occurring), substitute “the member”.
Omit “his” (first occurring), substitute “the member’s”.
Omit “he” (wherever occurring), substitute “the member”.
Omit “his” (second occurring), substitute “the member’s”.
Omit “he” (wherever occurring), substitute “the member”.
Omit “he”, substitute “that Minister”.
Omit “him”, substitute “that Minister”.
Omit “him”, substitute “that Minister”.
Omit “his”, substitute “that Minister’s”.
204
Subsection 23AF(18) (paragraph (a) of the definition of eligible foreign remuneration ) After “his”, insert “or her”.
205
Subsection 24B(1) (paragraph (b) of the definition of prescribed person ) After “his”, insert “or her”.
After “his”, insert “or her”.
Omit “his”, substitute “that holder’s”.
After “his”, insert “or her”.
Omit “he”, substitute “the trustee”.
Omit “his”, substitute “the trustee’s”.
After “he”, insert “or she”.
Omit “him”, substitute “the taxpayer”.
Omit “his”, substitute “the Commissioner’s”.
Omit “his”, substitute “the transferee’s”.
Omit “he”, substitute “the taxpayer”.
After “his”, insert “or her”.
After “his”, insert “or her”.
After “his” (wherever occurring), insert “or her”.
After “he”, insert “or she”.
After “his”, insert “or her”.
After “he”, insert “or she”.
After “his”, insert “or her”.
Omit “him”, substitute “the resident”.
Omit “his”, substitute “the resident’s”.
Omit “he” (wherever occurring), substitute “the Commissioner”.
Omit “he”, substitute “the taxpayer”.
Omit “his” (first occurring), substitute “the taxpayer’s”.
After “he”, insert “or she”.
After “his” (second occurring), insert “or her”.
Omit “him”, substitute “the taxpayer”.
After “he”, insert “or she”.
Omit “by him or on his behalf”, substitute “by or on behalf of the taxpayer”.
Omit “he”, substitute “the taxpayer”.
Omit “his”, substitute “the taxpayer’s”.
Omit “him” (first occurring), substitute “the taxpayer”.
Omit “he”, substitute “the taxpayer”.
Omit “him” (last occurring), substitute “the taxpayer”.
Omit “his”, substitute “the taxpayer’s”.
After “his”, insert “or her”.
After “he”, insert “or she”.
After “his”, insert “or her”.
After “him”, insert “or her”.
Omit “him”, substitute “the Treasurer”.
Omit “him”, substitute “the person”.
Omit “his”, substitute “the Commissioner’s”.
246
Subsection 82L(1) (paragraph (b) of the definition of convertible note ) After “him” (wherever occurring), insert “or her”.
After “him” (wherever occurring), insert “or her”.
After “him” (wherever occurring), insert “or her”.
After “him” (wherever occurring), insert “or her”.
After “him”, insert “or her”.
After “his”, insert “or her”.
After “he” (first occurring), insert “or she”.
After “he” (last occurring), insert “, she”.
After “he”, insert “or she”.
After “his”, insert “or her”.
After “his” (wherever occurring), insert “or her”.
After “his”, insert “or her”.
After “his”, insert “or her”.
After “he”, insert “or she”.
After “his”, insert “or her”.
Omit “his” (first occurring), substitute “the trustee’s”.
Omit “him”, substitute “the beneficiary”.
Omit “his” (second occurring), substitute “the beneficiary’s”.
Omit “him during his”, substitute “him or her during his or her”.
After “his”, insert “or her”.
Omit “he”, substitute “the person”.
Omit “his”, substitute “the person’s”.
Omit “him” (first occurring), substitute “the person”.
After “he” (first occurring), insert “or she”.
Omit “him” (last occurring), substitute “the person”.
After “he”, insert “or she”.
After “his” (wherever occurring), insert “or her”.
After “he”, insert “or she”.
After “he”, insert “or she”.
After “his” (wherever occurring), insert “or her”.
After “his”, insert “or her”.
Omit “he”, substitute “the Commissioner”.
After “he”, insert “or she”.
After “his” (wherever occurring), insert “or her”.
After “his” (wherever occurring), insert “or her”.
Omit “he shall refund to him the amount of tax paid by the company in respect of his debentures”, substitute “the Commissioner must refund to that person the amount of tax paid by the company in respect of his or her debentures”.
After “he”, insert “or she”.
After “him”, insert “or her”.
After “him” (wherever occurring), insert “or her”.
Omit “he”, substitute “the Commissioner”.
Omit “him”, substitute “the person”.
After “he”, insert “or she”.
Omit “he”, substitute “the Commissioner”.
Omit “his”, substitute “the Commissioner’s”.
Omit “him” (wherever occurring), substitute “the insurer”.
Omit “his” (wherever occurring), substitute “that person’s”.
Omit “he”, substitute “that person”.
After “he”, insert “or she”.
After “him”, insert “or her”.
Omit “him” (wherever occurring), substitute “that person”.
Omit “he”, substitute “that person”.
Omit “him”, substitute “that person”.
Omit “he”, substitute “that person”.
Omit “his”, substitute “that person’s”.
Omit “he” (wherever occurring), substitute “that person”.
Omit “him as if he”, substitute “the taxpayer as if he or she”.
After “his” (wherever occurring), insert “or her”.
After “he” (first occurring), insert “or she”.
After “him”, insert “or her”.
After “he” (last occurring), insert “or she”.
After “him”, insert “or her”.
After “he”, insert “or she”.
308
Subsection 156(1) (definition of relevant primary production deductions ) Omit “his” (wherever occurring), substitute “the taxpayer’s”.
After “his”, insert “or her”.
After “he”, insert “or she”.
Omit “him as if he”, substitute “the taxpayer as if he or she”.
After “him”, insert “or her”.
After “his”, insert “or her”.
After “his” (wherever occurring), insert “or her”.
Omit “he”, substitute “the taxpayer”.
After “his”, insert “or her”.
After “his”, insert “or her”.
318
Subsection 159P(4) (paragraph (h) of the definition of medical expenses ) After “him”, insert “or her”.
After “his” (wherever occurring), insert “or her”.
Omit “him”, substitute “the Commissioner”.
Omit “him or with his”, substitute “the person or with the person’s”.
Omit “his”, substitute “the Commissioner’s”.
After “his”, insert “or her”.
Omit “he”, substitute “the taxpayer”.
After “his”, insert “or her”.
After “he” (wherever occurring), insert “or she”.
Omit “his”, substitute “the Commissioner’s”.
Omit “his”, substitute “the person’s”.
Omit “him”, substitute “the person”.
Omit “him”, substitute “the officer”.
Omit “he is required to do in his”, substitute “the officer is required to do in the officer’s”.
Omit “him”, substitute “the officer”.
After “him”, insert “or her”.
Omit “his”, substitute “the officer’s”.
Omit “he is required to do in his”, substitute “the officer is required to do in the officer’s”.
After “He”, insert “or she”.
After “him”, insert “or her”.
After “his” (wherever occurring), insert “or her”.
After “He”, insert “or she”.
After “his”, insert “or her”.
After “he”, insert “or she”.
After “He”, insert “or she”.
Omit “him in his”, substitute “him or her in his or her”.
After “He”, insert “or she”.
After “he” (wherever occurring), insert “or she”.
After “He”, insert “or she”.
After “he”, insert “or she”.
Omit “the other or others shall be liable to pay him each his”, substitute “each other one is liable to pay him or her an”.
Omit “he”, substitute “the Commissioner”.
Omit “he”, substitute “the person”.
Omit “him”, substitute “the person”.
Omit “he” (first occurring), substitute “the person”.
Omit “him”, substitute “the person”.
Omit “he” (second and third occurring), substitute “the person”.
Omit “he” (wherever occurring), substitute “the person”.
Omit “him” (wherever occurring), substitute “the person”.
Omit “him”, substitute “the banker”.
Omit “his”, substitute “the person’s”.
Omit “him”, substitute “the Commissioner”.
Omit “him”, substitute “the Commissioner”.
Omit “he”, substitute “the Commissioner”.
Omit “him” (first and second occurring), substitute “the Commissioner”.
Omit “his” (first occurring), substitute “the person’s”.
Omit “him” (last occurring), substitute “the person”.
Omit “his” (second and third occurring), substitute “the person’s”.
Omit “he”, substitute “the Commissioner”.
Omit “him”, substitute “the Commissioner”.
Omit “*accounting standards, or”, substitute “*accounting standards or”.
Omit “comes into existence”, substitute “come into existence”.
Omit “*virtual”, substitute “virtual”.
Omit “
capital gains tax ”, substitute “capital gains ”.
Repeal the item (including the note).
Note: This item repeals an item that amends provisions that have been repealed.
Omit “of Schedule 2F”, substitute “in Schedule 2F”.
Omit “of Schedule 2F”, substitute “in Schedule 2F”.
375 Subsection 136(1) (paragraph (q) of the definition of fringe benefit ) Omit “of Schedule 2F”, substitute “in Schedule 2F”.
376 Subsection 95(1) (note at the end of the definition of net income ) Omit “of Schedule 2F”, substitute “in Schedule 2F”.
377 Subsection 102D(1) (note at the end of the definition of net income ) Omit “of Schedule 2F”, substitute “in Schedule 2F”.
378 Section 102M (note at the end of the definition of net income ) Omit “of Schedule 2F”, substitute “in Schedule 2F”.
379 Subsection 102UC(4) (definition of discretionary trust ) Omit “of Schedule 2F”, substitute “in Schedule 2F”.
380 Subsection 102UC(4) (paragraphs (a), (d) and (e) of the definition of excluded trust ) Omit “of Schedule 2F”, substitute “in Schedule 2F”.
381 Subsection 102UC(4) (definition of fixed entitlement ) Omit “of Schedule 2F”, substitute “in Schedule 2F”.
382 Subsection 102UC(4) (definition of indirectly ) Omit “of Schedule 2F”, substitute “in Schedule 2F”.
383 Subsection 25‑35(5) (cell at table item 5, column headed “See:”) Omit “
of Schedule 2F ”, substitute “in Schedule 2F ”.
Omit “of Schedule 2F” (wherever occurring), substitute “in Schedule 2F”.
385
Section 109‑60 (cell at table item 9, column headed “See:”) Omit “
of Schedule 2D ”, substitute “in Schedule 2D ”.
386
Section 109‑60 (cell at table item 10, column headed “See:”) Omit “
of Schedule 2H ”, substitute “in Schedule 2H ”.
387
Section 112‑97 (cell at table item 5A, column headed “See:”) Omit “
of Schedule 2H ”, substitute “in Schedule 2H ”.
388
Section 112‑97 (cell at table item 20, column headed “See:”) Omit “
of Schedule 2D ”, substitute “in Schedule 2D ”.
Omit “of Schedule 2D”, substitute “in Schedule 2D”.
390
Subsections 165‑215(5), 165‑220(5), 165‑230(5), 180‑10(1) and 180‑20(1) Omit “of Schedule 2F”, substitute “in Schedule 2F”.
Omit “Division 323 of Schedule J to the
Income Tax Assessment Act 1936 ”, substitute “Subdivision 321‑C”.
392
Subsection 328‑10(1) (cell at table item 12, column headed “Provision”) Omit “of Schedule 1”, substitute “in Schedule 1”.
393
Subsection 328‑110(4) (paragraph (a) of the note) Omit “of Schedule 1”, substitute “in Schedule 1”.
394
Subsection 995‑1(1) (definition of family trust ) Omit “of Schedule 2F”, substitute “in Schedule 2F”.
395
Subsection 995‑1(1) (paragraph (a) of the definition of income for surcharge purposes ) Omit “of Schedule 2F”, substitute “in Schedule 2F”.
396
Subsection 995‑1(1) (note 1 to paragraph (a) of the definition of tax loss ) Omit “of Schedule 2F”, substitute “in Schedule 2F”.
Omit “of Schedule 2D”, substitute “in Schedule 2D”.
Omit “of Schedule 2F”, substitute “in Schedule 2F”.
399 Paragraphs 7A(3)(b) and (c) and 7B(3)(b) and (c) Omit “of Schedule 2F”, substitute “in Schedule 2F”.
Insert:
Excise Acts has the meaning given by theExcise Act 1901 .
401 Subsection 2(1) (at the end of the definition of taxation law ) Add:
Note: See also subsection (2).
Omit “, and Subdivision 284‑B in Schedule 1 to,”.
After “*taxation law”, insert “(other than the *Excise Acts)”.
Repeal the note.
Omit “Note 2”, substitute “Note”.
After “*taxation law”, insert “(other than the *Excise Acts)”.
After “taxation law”, insert “(other than the Excise Acts)”.
After “*taxation law”, insert “(other than the *Excise Acts)”.
After “taxation law”, insert “(other than the Excise Acts)”.
410
Subsection 284‑80(1) in Schedule 1 (table item 2) After “*taxation law”, insert “(other than the *Excise Acts)”.
411
Subsection 284‑90(1) in Schedule 1 (table items 1 to 3C, column headed “In this situation:”) Omit “*taxation law”, substitute “*taxation law (other than the *Excise Acts)”.
412 Subsection 170(10AA) (table items 24, 25, 30 (the table item 30 inserted by item 19 of Schedule 1 to the Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009 ) and 35) Repeal the table items, substitute:
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Note: This item corrects the numbering and order of items in a table.
Omit “give”, substitute “given”.
Note: This item fixes a grammatical error.
Omit “Note (1)”, substitute “Note 1”.
Note: This item fixes a typographical error.
Repeal the heading, substitute:
Note: This item fixes a typographical error.
Repeal the subparagraph.
Note: This item repeals a provision that related to a corporation that no longer exists.
Omit “; or” (last occurring).
Note: This item fixes a typographical error.
Omit “subsection (2)”, substitute “subsection (1)”.
Note: This item corrects an incorrect cross‑reference.
Repeal the section.
Note: This item repeals a spent provision.
Omit “Subparagraph 49A(1)(b)(i)”, substitute “Paragraph 49A(1)(b)”.
Note: This item corrects an incorrect cross‑reference.
Omit “paragraph (1)(c)”, substitute “paragraph (3)(c)”.
The amendment made by item 421 of this Schedule applies to determinations made under paragraph 388‑65(3)(c) in Schedule 1 to the
Taxation Administration Act 1953 on or after 1 April 2004.
423 Section 3C (definition of relevant tax ) (table item 50) Omit “subsection 12ZN(1) of the
Student and Youth Assistance Act 1973 ”, substitute “section 12ZN of theStudent Assistance Act 1973 ”.Note: This item corrects an incorrect cross‑reference.
424 Part 2 of Schedule 12 (heading relating to the Industrial Research and Development Incentives Act 1976 ) Repeal the heading.
Note: This item repeals a heading relating to an Act that is not being amended.
The endnotes provide details of the history of this legislation and its provisions. The following endnotes are included in each compilation:
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
Endnote 5—Uncommenced amendments
Endnote 6—Modifications
Endnote 7—Misdescribed amendments
Endnote 8—Miscellaneous
If there is no information under a particular endnote, the word “none” will appear in square brackets after the endnote heading.
The abbreviation key in this endnote sets out abbreviations that may be used in the endnotes.
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended the compiled law. The information includes commencement information for amending laws and details of application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision level. It also includes information about any provisions that have expired or otherwise ceased to have effect in accordance with a provision of the compiled law.
The effect of uncommenced amendments is not reflected in the text of the compiled law but the text of the amendments is included in endnote 5.
If the compiled law is affected by a modification that is in force, details of the modification are included in endnote 6.
An amendment is a misdescribed amendment if the effect of the amendment cannot be incorporated into the text of the compilation. Any misdescribed amendment is included in endnote 7.
Endnote 8 includes any additional information that may be helpful for a reader of the compilation.
ad = added or inserted | pres = present |
am = amended | prev = previous |
c = clause(s) | (prev) = previously |
Ch = Chapter(s) | Pt = Part(s) |
def = definition(s) | r = regulation(s)/rule(s) |
Dict = Dictionary | Reg = Regulation/Regulations |
disallowed = disallowed by Parliament | reloc = relocated |
Div = Division(s) | renum = renumbered |
exp = expired or ceased to have effect | rep = repealed |
hdg = heading(s) | rs = repealed and substituted |
LI = Legislative Instrument | s = section(s) |
LIA = | Sch = Schedule(s) |
mod = modified/modification | Sdiv = Subdivision(s) |
No = Number(s) | SLI = Select Legislative Instrument |
o = order(s) | SR = Statutory Rules |
Ord = Ordinance | Sub-Ch = Sub-Chapter(s) |
orig = original | SubPt = Subpart(s) |
par = paragraph(s)/subparagraph(s) /sub-subparagraph(s) |
This endnote sets out details of the legislation history of the
Tax Laws Amendment (2011 Measures No. 2) Act 2011 | 41, 2011 | 27 June 2011 | ||
Tax Laws Amendment (2013 Measures No. 2) Act 2013 | 124, 2013 | 29 June 2013 | Sch 10 (item 12): Royal Assent | — |
Pt 3...................................... | rep No 124, 2013 |
item 7................................... | rep No 124, 2013 |
item 8................................... | rep No 124, 2013 |
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