Taxation Laws Amendment Act 1989 (Cth)
This compilation was prepared on 13 September 2010
taking into account amendments up to Act No. 75 of 2010
The text of any of those amendments not in force
on that date is appended in the Notes section
The operation of amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section
Prepared by the Office of Legislative Drafting and Publishing,
Attorney-General’s Department, Canberra
TABLE OF PROVISIONS
PART I - PRELIMINARY
Section
Short title [
Commencement [
PART II - AMENDMENT OF THE FRINGE BENEFITS TAX ASSESSMENT ACT 1936
Principal Act
Reduction of taxable value - ''otherwise deductible'' rule
Reduction of taxable value - ''otherwise deductible'' rule
Insertion of new section:
Exempt benefits - compassionate travel
Reduction of taxable value - remote area holiday transport fringe
benefits subject to ceiling
Reduction of taxable value - remote area holiday transport fringe
benefits not subject to ceiling
Reduction of taxable value - overseas employment holiday transport
Reduction of taxable value of certain expense payment fringe
benefits in respect of relocation transport
Reduction of taxable value of certain expense payment fringe
benefits in respect of employment interviews or selection tests
Reduction of taxable value of certain expense payment fringe benefits
associated with work-related medical examinations, work-related medical
screenings, work-related preventative health care, work-related
counselling or migrant language training
Heading to Part X
Insertion of new section:
Car records to be completed before declaration date
Interpretation
Insertion of new section:
Reimbursement etc. of tax not to be regarded as consideration
in respect of benefit etc.
Remote area holiday transport
Amendments relating to car records
Application of amendments
Amendment of assessments
PART III - AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936
Principal Act
Insertion of new section:
Reimbursement etc. in respect of fringe benefits tax not
assessable income
Deductions not allowable for entertainment expenses
Interpretation
Repeal of sections and substitution of new sections:
Holding of car or motor vehicle
Holding period of car or motor vehicle
Deemed specification of matters in odometer records
Log book year of income
Deductions not allowable for car expenses incurred in a log book year
of income unless log book records and odometer records etc. are
maintained
Other expenses
Retention, and production, of documents
Relief from certain substantiation requirements where taxpayer had a
reasonable expectation that substantiation would not be required
Other interpretative provisions
Composite assets
Indexation of indexed cost base limit
Disposal of taxable Australian assets
Acquisition by lessee of reversionary interest of lessor
Insertion of new Division:
Roll-over or conversion of Crown lease
Insertion of new Division:
Application
Exercise of rights not to constitute disposal
Time of acquisition of rights
Unit holder not to be deemed to have paid or given
consideration for rights
Exercise of rights
Application of Division to holders of convertible
notes
Insertion of new Division:
Application
Exercise of option not to constitute disposal
Time of acquisition of option
Unitholder not to be deemed to have paid or given
consideration for option
Exercise of option
Application of Division to holders of convertible notes
Heading to Division 12 of Part IIIA
Insertion of new Division:
Definition of convertible note
Conversion of note not to constitute disposal
Time of acquisition of units
Consideration in respect of acquisition
Options
Roll-over of prospecting rights and mining rights
Involuntary disposal
Asset received as a result of involuntary disposal
Insertion of new section:
Transfer of asset from company or trust to spouse upon
breakdown of marriage
Transfer of asset to wholly-owned company
Transfer of asset between companies in the same group
Insertion of new sections:
160ZZPAA. Exchange of units in the same unit trust
160ZZPAB. Options and rights to acquire unissued shares affected by
share splits or share consolidations
160ZZPAC. Options and rights to acquire unissued units affected by unit
splits or unit consolidations
Insertion of new sections:
Company schemes of arrangement - exchange of shares in
original company for shares in interposed company
Company schemes of arrangement - redemption or cancellation
of shares in original company in exchange for shares in
interposed company
Renewal or extension of statutory licence
trust
Exemption of principal residence
Application of amendments
SCHEDULE
AMENDMENTS OF THE FRINGE BENEFITS TAX ASSESSMENT ACT 1986 RELATING TO CAR
RECORDS
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989 - LONG TITLE
An Act to amend the law relating to taxation
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 1
Short
title [
1. This Act may be cited as the Taxation Laws Amendment Act 1989.
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 2
Commencement [
2. This Act commences on the day on which it receives the Royal Assent.
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 3
Principal Act
3. In this Part, "Principal Act" means the Fringe Benefits Tax Assessment
Act 1986*1*.
*1* No. 39, 1986, as amended. For previous amendments, see Nos. 48 and 112,
1986; Nos. 23 and 145, 1987; No. 139, 1987 (as amended by Nos. 11 and 78,
1988); and Nos. 6, 7, 95, 97 and 153, 1988.
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 4
Reduction of taxable value-''otherwise deductible'' rule
4. Section 19 of the Principal Act is amended:
by inserting in subparagraph (1) (b) (i) ", not being a foreign source
deduction," before "would, or";
by inserting in sub-subparagraph (1) (ba) (ii) (A) "other than a
foreign source deduction" after "once-only deduction".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 5
Reduction of taxable value-''otherwise deductible'' rule
5. Section 24 of the Principal Act is amended:
by inserting in subparagraph (1) (b) (iii) ", not being a foreign
source deduction," before "would, or";
by inserting in sub-subparagraph (1) (ba) (ii) (A) "other than a
foreign source deduction" after "once-only deduction";
by omitting from paragraph (1) (c) "expense benefit" (wherever
occurring) and substituting "expense payment benefit";
by inserting in paragraph (1) (d) "(other than an international aircrew
expense payment benefit)" after "extended travel expense payment benefit".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 6
6. After section 58L of the Principal Act the following section is inserted:
Exempt benefits-compassionate travel
"58LA. Where:
any of the following benefits is provided in, or in respect of, a year
of tax in respect of the employment of an employee of an employer, being
benefits in relation to the transport of a person (in this section called the
'traveller') who is the employee or a close relative of the employee:
a car benefit relating to a particular car where the application
or
availability of the car is in respect of the provision of the transport;
an expense payment benefit where the recipients expenditure is in
respect of the provision of:
(A) the transport; or
(B) meals or accommodation for the traveller in connection with the
transport;
a property benefit where the recipients property consists of
meals
for the traveller in connection with the transport;
a residual benefit where the recipients benefit consists of the
provision of:
(A) the transport; or
(B) accommodation for the traveller in connection with the transport;
the sole reason that the transport is required is:
if the traveller is the employee:
(A) to enable the traveller to attend the funeral of a close relative
of the traveller; or
(B) to enable the traveller to visit a close relative of the traveller
in connection with a serious illness of the close relative or of the
traveller; or
if the traveller is a close relative of the employee:
(A) to enable the traveller to attend the funeral of the employee;
(B) to enable the traveller to visit the employee in connection with a
serious illness of the employee or of the traveller;
(C) to enable the traveller to attend the funeral of another close
relative of the employee; or
(D) to enable the traveller to visit another close relative of the
employee in connection with a serious illness of the other close relative or
of the traveller;
the travel to which the transport relates commences during a period in
respect of which any of the following conditions is satisfied (or, in a case
to which sub-subparagraph (b) (ii) (A) applies, would have been satisfied but
for the employee's death):
during that period, the employee is undertaking travel in the course
of performing the duties of that employment;
in a case to which subparagraph (i) does not apply-the employee is
required, during that period, to live away from his or her usual place of
residence in order to perform the duties of that employment;
in a case to which neither subparagraph (i) nor (ii) applies-during
that period, the usual place of residence of the employee is at, or the
employee is performing duties of that employment at, a place that:
(A) is in a State or internal Territory; and
(B) is not at a location in, or adjacent to, an eligible urban area;
in a case to which sub-subparagraph (b) (ii) (C) or (D) applies-the
travel to which the transport relates commences during a period during which
the traveller ordinarily resides with the employee; and
if subparagraph (a) (ii) applies and the recipients expenditure is
incurred after 25 May 1988-documentary evidence of the recipients expenditure
is obtained by the recipient and that documentary evidence, or a copy, is
given to the employer before the declaration date;
the benefit is an exempt benefit in relation to the year of tax.".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 7
Reduction of taxable value-remote area holiday transport fringe benefits
subject to ceiling
7. Section 60A of the Principal Act is amended:
by inserting in paragraph (4) (b) "following" before "rates";
by omitting subparagraph (4) (b) (i) and substituting the following
subparagraph:
the basic car rate;";
by omitting from subparagraph (4) (b) (ii) "prescribed for the purposes
of this subparagraph" and substituting "the supplementary car rate";
by adding at the end the following subsection:
"(5) Where:
a remote area holiday transport fringe benefit in relation to an
employee consists of the provision of an allowance to the spouse or a child of
the employee; and
the whole or a part of the allowance has been expended by the
recipient in obtaining the transport, meals or accommodation in respect of
which the allowance was paid;
this section applies in relation to the fringe benefit as follows:
the fringe benefit shall be treated as if it were an expense payment
fringe benefit;
the amount expended as mentioned in paragraph (b) shall be treated as
if it were the recipients expenditure;
so much of the allowance as does not exceed the recipients
expenditure shall be treated as if it were a reimbursement of the recipients
expenditure.".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 8
Reduction of taxable value-remote area holiday transport fringe benefits not
subject to ceiling
8. Section 61 of the Principal Act is amended:
by inserting in paragraph (1) (f) "following" before "rates";
by omitting subparagraph (1) (f) (i) and substituting the following
subparagraph:
the basic car rate;";
by omitting from subparagraph (1) (f) (ii) "prescribed for the purposes
of this subparagraph" and substituting "the supplementary car rate";
by adding at the end the following subsection:
"(3) Where:
a remote area holiday transport fringe benefit in relation to an
employee consists of the provision of an allowance to the spouse or a child of
the employee; and
the whole or a part of the allowance has been expended by the
recipient in obtaining the transport, meals or accommodation in respect of
which the allowance was paid;
this section applies in relation to the fringe benefit as follows:
the fringe benefit shall be treated as if it were an expense payment
fringe benefit;
the amount expended as mentioned in paragraph (b) shall be treated as
if it were the recipients expenditure;
so much of the allowance as does not exceed the recipients
expenditure shall be treated as if it were a reimbursement of the recipients
expenditure.".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 9
Reduction of taxable value-overseas employment holiday transport
9. Section 61A of the Principal Act is amended:
by inserting in paragraph (5) (b) "following" before "rates";
by omitting subparagraph (5) (b) (i) and substituting the following
subparagraph:
the basic car rate;";
by omitting from subparagraph (5) (b) (ii) "prescribed for the purposes
of this subparagraph" and substituting "the supplementary car rate".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 10
Reduction of taxable value of certain expense payment fringe benefits in
respect of relocation transport
10. Section 61B of the Principal Act is amended:
by inserting "following" before "rates";
by omitting paragraph (d) and substituting the following paragraph:
the basic car rate;";
by omitting from paragraph (e) "prescribed for the purposes of this
paragraph" and substituting "the supplementary car rate".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 11
Reduction of taxable value of certain expense payment fringe benefits in
respect of employment interviews or selection tests
11. Section 61E of the Principal Act is amended by omitting "the rate
prescribed for the purposes of paragraph 82KX (1) (a) of the Income Tax
Assessment Act 1936" and substituting "the basic car rate".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 12
Reduction of taxable value of certain expense payment fringe benefits
associated with work-related medical examinations, work-related medical screenings,
work-related preventative health care, work-related counselling or migrant
language training
12. Section 61F of the Principal Act is amended:
by inserting "following" before "rates";
by omitting paragraph (d) and substituting the following paragraph:
the basic car rate;";
by omitting from paragraph (e) "prescribed for the purposes of this
paragraph" and substituting "the supplementary car rate".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 13
Heading to Part X
13. The heading to Part X of the Principal Act is amended by omitting
"RETENTION OF".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 14
14. After section 123 of the Principal Act the following section is
inserted:
Car records to be completed before declaration date
"123A. (1) For the purposes of this Act (other than section 115A), a matter
shall not be taken to have been specified or nominated in car records of an
employer for a year of tax unless the matter was included in those records
before the declaration date.
"(2) Subsection (1) is subject to any other provision of this Act that
requires a particular matter to be treated as if it had been specified or
nominated in car records of an employer.".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 15
Interpretation
15. Section 136 of the Principal Act is amended:
by inserting after paragraph (a) of the definition of "statutory
evidentiary document" in subsection (1) the following paragraph:
car records that:
are maintained by the employer in relation to the current year
of tax; or
were maintained by the employer in relation to an earlier year
of tax but are relevant to the employer's liability under this Act in respect
of the current year of tax;";
by omitting from subsection (1) the definition of "eligible incidental
travel expense payment benefit" and substituting the following definition:
" 'eligible incidental travel expense payment benefit' means an expense
payment fringe benefit where:
either:
the recipients expenditure:
(A) is in respect of travel by the recipient away from the
recipient's usual place of residence undertaken in the course of performing
the duties of his or her employment, being expenditure in respect of
accommodation, the purchase of food or drink or otherwise incidental to the
travel; and
(B) relates solely to travel by the recipient in Australia; or
the recipients expenditure:
(A) is in respect of travel by the recipient away from the
recipient's usual place of residence undertaken in the course of performing
the duties of his or her employment, being expenditure in respect of the
purchase of food or drink or otherwise incidental to the travel (except in
respect of accommodation); and
(B) relates solely or principally to travel by the recipient
outside Australia; and
the payment or reimbursement, as the case may be, that constitutes
the fringe benefit is in the nature of compensation to the recipient for the
expenses that the recipient might reasonably be expected to have incurred in
respect of the matters specified in sub-subparagraph (a) (i) (A) or (a) (ii)
(A), as the case requires;";
by inserting in subsection (1) the following definitions:
" 'basic car rate', in relation to a year of tax ending on
31 March in a year, means the rate prescribed for the purposes of paragraph
82KX (1) (a) of the Income Tax Assessment Act 1936 in relation to the year of
income ending on 30 June in that year;
'car records', in relation to an employer in relation to a year of tax,
means records that are maintained by the employer in relation to the year of
tax for the purposes of the provisions of this Act that refer to car records
and that:
in the case of the year of tax commencing on 1 April 1988 or an
earlier year of tax-are in writing in the English language or are in a form
that enables them to be readily accessible and convertible into writing in the
English language; or
in the case of a later year of tax-are maintained in a form
approved by the Commissioner;
'close relative', in relation to a person, means:
the spouse of the person;
a child or parent of the person; or
a parent of the person's spouse;
'foreign source deduction' means:
a deduction that relates exclusively to income derived from a
foreign source or foreign sources within the meaning of section 160AFD of the
Income Tax Assessment Act 1936; or
so much of a deduction as, in the opinion of the Commissioner, may
appropriately be related to income derived from a foreign source or foreign
sources within the meaning of that section;
'international aircrew expense payment benefit' means an expense payment
fringe benefit where the recipients expenditure:
is in respect of travel by the recipient in the course of
performing the duties of the recipient's employment as the pilot, flight
engineer, flight attendant, or other member of the crew, of an aircraft, being
expenditure in respect of accommodation, the purchase of food or drink or
otherwise incidental to the travel; and
relates to travel by the recipient outside Australia;
'supplementary car rate', in relation to a year of tax, means the rate
prescribed for the purposes of this definition in relation to the year of
tax;".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 16
16. After section 136 of the Principal Act the following section is
inserted:
Reimbursement etc. of tax not to be regarded as consideration in respect of
benefit etc.
"136A. For the purposes of this Act, an amount paid (including an amount
deemed by section 145 to have been paid) in respect of fringe benefits tax
shall not be regarded as also being consideration for or in respect of:
the provision of a benefit; or
any other matter.".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 17
Remote area holiday transport
17. Section 143 of the Principal Act is amended by omitting paragraph (1)
(d) and substituting the following paragraph:
in the case of a residual fringe benefit-the recipients benefit
consists of:
the provision of transport or accommodation in connection with
transport; or
the receipt of an allowance in respect of the cost of obtaining
transport, or of obtaining meals or accommodation in connection with
transport;".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 18
Amendments relating to car records
18. The Principal Act is amended as set out in the Schedule.
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 19
Application of amendments
19. (1) In this section:
"amended Act" means the Principal Act as amended by this Part.
(2) Subject to this section, the amendments made by this Part apply to:
assessments of the fringe benefits taxable amount of an employer of the
transitional year of tax and of each subsequent year of tax; and
instalments of tax in respect of the transitional year of tax.
(3) The amendments made by section 4 and paragraphs 5 (a) and (b) apply
where the loan concerned was made, or the recipients expenditure incurred, as
the case requires, after 25 May 1988.
(4) In applying section 60A or 61 of the amended Act to a fringe benefit to
which subsection 60A (5) or 61 (3) of the amended Act applies, the condition
specified in paragraph 60A (2) (b) or 61 (1) (d), as the case requires, of the
amended Act shall be taken to be satisfied if the fringe benefit was provided
on or before 25 May 1988.
(5) The amendment made by section 16 applies to amounts paid after 25 May
1988.
(6) Subject to this section, section 115A of the Principal Act shall be
taken never to have applied in relation to percentages specified, or
purporting to be specified, in returns.
(7) Section 115A of the amended Act applies to the specification, or
purported specification, of a percentage in car records of an employer only
if:
the specification, or purported specification, occurs after the
commencement of this section (whether or not the specification is deemed by
subsection (8) of this section to have occurred before the commencement of
this section);
the percentage is deemed by subsection (9) of this section to have been
specified in the car records; or
because of the application of section 162D of the amended Act in
relation to a document lodged after the commencement of this section, the
percentage is deemed to have been specified in the car records.
(8) Where, not later than one month after the commencement of this section,
an employer specifies or nominates a particular in car records of the employer
for a year of tax ending before the commencement of this section, that
particular shall be deemed to have been specified or nominated in those car
records before the declaration date in relation to that year of tax.
(9) Where, in a return for a year of tax lodged before the commencement of
this section, an employer specified, or purported to specify, (including a
specification that is treated as having occurred because of section 162D of
the Principal Act) a percentage as mentioned in paragraph 115A (1) (a) or (2)
(a) of the Principal Act, that percentage shall be deemed, for the purposes
of section 115A of the amended Act, to have been specified in car records of the
employer for that year of tax.
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 20
Amendment of assessments
20. Nothing in section 74 of the Principal Act prevents the amendment of an
assessment made before the commencement of this section for the purpose of
giving effect to the amendments made by this Act.
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 21
Principal Act
21. In this Part, "Principal Act" means the Income Tax Assessment Act
1936*2*.
*2* No. 27, 1936, as amended. For previous amendments, see No. 88, 1936; No.
5, 1937; No. 46, 1938; No. 30, 1939; Nos. 17 and 65, 1940; Nos. 58 and 69,
1941; Nos. 22 and 50, 1942; No. 10, 1943; Nos. 3 and 28, 1944; Nos. 4 and 37,
1945; No. 6, 1946; Nos. 11 and 63, 1947; No. 44, 1948; No. 66, 1949; No. 48,
1950; No. 44, 1951; Nos. 4, 28 and 90, 1952; Nos. 1, 28, 45 and 81, 1953; No.
43, 1954; Nos. 18 and 62, 1955; Nos. 25, 30 and 101, 1956; Nos. 39 and 65,
1957; No. 55, 1958; Nos. 12, 70 and 85, 1959; Nos. 17, 18, 58 and 108, 1960;
Nos. 17, 27 and 94, 1961; Nos. 39 and 98, 1962; Nos. 34 and 69, 1963; Nos. 46,
68, 110 and 115, 1964; Nos. 33, 103 and 143, 1965; Nos. 50 and 83, 1966; Nos.
19, 38, 76 and 85, 1967; Nos. 4, 70, 87 and 148, 1968; Nos. 18, 93 and 101,
1969; No. 87, 1970; Nos. 6, 54 and 93, 1971; Nos. 5, 46, 47, 65 and 85, 1972;
Nos. 51, 52, 53, 164 and 165, 1973; No. 216, 1973 (as amended by No. 20,
1974); Nos. 26 and 126, 1974; Nos. 80 and 117, 1975; Nos. 50, 53, 56, 98, 143,
165 and 205, 1976; Nos. 57, 126 and 127, 1977; Nos. 36, 57, 87, 90, 123, 171
and 172, 1978; Nos. 12, 19, 27, 43, 62, 146, 147 and 149, 1979; Nos. 19, 24,
57, 58, 124, 133, 134 and 159, 1980; Nos. 61, 92, 108, 109, 110, 111, 154 and
175, 1981; Nos. 29, 38, 39, 76, 80, 106 and 123, 1982; Nos. 14, 25, 39, 49,
51, 54 and 103, 1983; Nos. 14, 42, 47, 63, 76, 115, 124, 165 and 174, 1984;
No. 123, 1984 (as amended by No. 65, 1985); Nos. 47, 49, 104, 123, 168 and
174, 1985; No. 173, 1985 (as amended by No. 49, 1986); Nos. 41, 46, 48, 51,
109, 112 and 154, 1986; No. 49, 1986 (as amended by No. 141, 1987); No. 52,
1986 (as amended by No. 141, 1987); No. 90, 1986 (as amended by No. 141,
1987); Nos. 23, 58, 61, 120, 145 and 163, 1987; No. 62, 1987 (as amended by
No. 108, 1987); No. 108, 1987 (as amended by No. 138, 1987); No. 138, 1987 (as
amended by No. 11, 1988); No. 139, 1987 (as amended by Nos. 11 and 78, 1988);
Nos. 8, 11, 59, 75, 78, 80, 87, 95, 97, 127 and 153, 1988; and No. 2, 1989.
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 22
22. After section 23L of the Principal Act the following section is
inserted:
Reimbursement etc. in respect of fringe benefits tax not assessable income
"23M. The assessable income of a taxpayer shall not include an amount
derived by the taxpayer if subsection 51 (4A) applies to the incurring of the
amount by another person (whether or not a deduction would, apart from that
subsection, be allowable to the other person in respect of the amount).".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 23
Deductions not allowable for entertainment expenses
23. Section 51AE of the Principal Act is amended by inserting in paragraph
(5A) (d) ", 58LA" after "58L".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 24
Interpretation
24. Section 82KT of the Principal Act is amended:
by omitting "(other than rental log book cars)" from sub-subparagraph
(b) (iii) (A) of the definition of "applicable log book period" in subsection
(1);
by omitting "(including a vehicle known as a four wheel drive vehicle)"
from the definition of "car" in subsection (1);
by omitting "but does not include a motor cycle or similar vehicle;"
from the definition of "car" in subsection (1) and substituting the
following:
"but does not include:
a motor cycle or similar vehicle;
a taxi taken on hire; or
a car taken on hire under an agreement of a kind ordinarily entered
into by persons taking cars on hire intermittently as occasion requires on an
hourly, daily, weekly or other short-term basis unless the car has been or may
reasonably be expected to be taken on hire under successive agreements of a
kind that result in substantial continuity of the taking of the car on
hire;";
by omitting "a car" from the definition of "odometer records" in
subsection (1) and substituting "a motor vehicle";
by omitting "the car" (wherever occurring) from the definition of
"odometer records" in subsection (1) and substituting "the motor vehicle";
by omitting subparagraph (a) (i) of the definition of "retention
period" in subsection (1) and substituting the following subparagraph:
in the case of an expense:
(A) that is in respect of fuel or oil and that was incurred in respect
of a motor vehicle when owned or leased by the taxpayer at a time during the
year of income; and
(B) where documentary evidence of the expense was not obtained by or on
behalf of the taxpayer;
whichever of the following times is applicable:
(C) if the taxpayer elects that subsection 82KW (2) apply in relation
to the motor vehicle in relation to the year of income-the commencement of the
holding period within the meaning of that subsection or, if the first use of
the motor vehicle in the course of producing assessable income of the taxpayer
occurred during that holding period, the commencement of that use;
(D) in any other case-the commencement of the holding period within the
meaning of section 82KUA or of the period referred to in subparagraph 82KZ (1)
(c) (i) or, if the first use of the motor vehicle in the course of producing
assessable income of the taxpayer occurred during that holding period or
period, the commencement of that use; or";
by omitting from subsection (1) the definition of "long-term log book
car" and substituting the following definition:
" 'long-term log book car', in relation to a taxpayer, in relation to a
year of income, means a log book car in relation to the taxpayer in relation
to the year of income other than a car while it is held by the taxpayer
pending its replacement, for use in the course of producing assessable income
of the taxpayer, by another car;";
by omitting from subsection (1) the definition of "rental log book car";
by inserting in subsection (1) the following definition:
" 'motor vehicle' includes a vehicle known as a four wheel drive
vehicle;".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 25
25. Sections 82KTA and 82KTB of the Principal Act are repealed and the
following sections are substituted:
Holding of car or motor vehicle
"82KTA. (1) A reference in this Subdivision:
to a car held by a taxpayer; or
to a motor vehicle held by a taxpayer; is a reference to a car or to a
motor vehicle, as the case may be, owned or leased by the taxpayer for use in
the course of producing assessable income of the taxpayer (whether or not the
car or motor vehicle was used for any other purpose while it was so owned or
leased).
"(2) A reference in this Subdivision:
to a period during which a car was held by a taxpayer; or
to a period during which a motor vehicle was held by a taxpayer; is a
reference to a period during which the car or the motor vehicle, as the case
may be, was continuously held by the taxpayer.
Holding period of car or motor vehicle
"82KTB. Unless the contrary intention appears, a reference in this
Subdivision:
to a period in a year of income during which a taxpayer held a car; or
to a period in a year of income during which a taxpayer held a motor
vehicle; is a reference to the period that:
commences on whichever of the following times is applicable:
if the taxpayer held the car or the motor vehicle, as the case may
be, at the time of commencement of the year of income-that time;
in any other case-the time in the year of income when the taxpayer
commenced to hold the car or the motor vehicle, as the case may be; and
ends at whichever of the following times is applicable:
if the taxpayer continued to hold the car or the motor vehicle, as
the case may be, until the time of the end of the year of income-that time;
in any other case-the time in the year of income when the taxpayer
ceased to hold the car or the motor vehicle, as the case may be.".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 26
Deemed specification of matters in odometer records
26. Section 82KTD of the Principal Act is amended:
by omitting from paragraph (a) "car" and substituting "motor vehicle";
by omitting from paragraph (b) "the car" and substituting "the motor
vehicle".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 27
Log book year of income
27. Section 82KTG of the Principal Act is amended by omitting from
subparagraphs (d) (i) and (ii) "that was a rental log book car or any car".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 28
Deductions not allowable for car expenses incurred in a log book year of income
unless log book records and odometer records etc. are maintained
28. Section 82KUB of the Prinicpal Act is amended by omitting from
paragraphs (a) and (b) "the deductible car is not a rental log book car and".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 29
Other expenses
29. Section 82KZ of the Principal Act is amended:
by omitting from subsection (1) "unless documentary evidence of the
expense is obtained by or on behalf of the taxpayer." and substituting the
following:
"unless:
if the expense is in respect of fuel or oil in relation to a motor
vehicle:
odometer records are maintained by or on behalf of the taxpayer
for the period during which the motor vehicle is held by the taxpayer during
the year of income; or
documentary evidence of the expense is obtained by or on behalf
of the taxpayer; or
in any other case-documentary evidence of the expense is obtained by
or on behalf of the taxpayer.";
by adding at the end the following subsections:
"(5) Where:
a travel allowance in respect of the purchase of food and drink and
expenditure incidental to travel (whether or not the allowance is also in
respect of accommodation) was paid or is payable (whether or not under an
industrial instrument) to a taxpayer (in this subsection called the 'relevant
taxpayer');
the allowance relates solely or principally to travel by the relevant
taxpayer outside Australia;
the amount of the allowance in respect of the purchase of food and
drink and expenditure incidental to travel is, in the opinion of the
Commissioner, reasonable having regard to the total of the amounts of the
outgoings that it would be reasonable for a taxpayer to whom the allowance was
paid or is payable to incur, in respect of the travel to which the allowance
relates, in respect of the purchase of food and drink and expenditure
incidental to the travel; and
the total of the amounts of the eligible expenses in respect of the
purchase of food and drink and expenditure incidental to travel, in relation
to the allowance, incurred by the relevant taxpayer and claimed by the
relevant taxpayer as deductions in respect of the year of income in which the
expenses were incurred does not exceed the amount of the allowance in respect
of the purchase of food and drink and expenditure incidental to travel;
the following provisions have effect in relation to the relevant taxpayer
in relation to the expenses referred to in paragraph (d):
subsection (1) does not apply, and shall be deemed never to have
applied;
section 82KZA applies, and shall be deemed always to have applied, as
if:
paragraph (1) (a) of that section were omitted;
subsections (2) and (3) of that section were omitted and the
following subsections were substituted:
'(2) Where subsection 82KZ (5) applies in relation to a taxpayer in
relation to a travel allowance, the Commissioner may, except where subsection
82KZ (6) also applies in relation to the allowance, by notice in writing
served on the taxpayer, require the taxpayer to produce to the Commissioner,
within a specified period of not less than 28 days, the travel diary relating
to the travel to which the expenses referred to in paragraph 82KZ (5) (d)
relate.
'(3) Where:
at the time when the notice is served, the retention period in
relation to any of the expenses has not ended; and
the taxpayer does not produce the travel diary to the
Commissioner within the period specified in the notice or such longer period
as the Commissioner allows;
a deduction is not allowable, and shall be deemed never to have been
allowable, under this Act in respect of the expense.';
subsection (6) of that section were omitted; and
paragraph (7) (g) of that section were amended by omitting
"paragraphs (1) (c) and (3) (f)" and substituting "paragraph (1) (c) and
subsection (3)";
section 82KZBB applies, and shall be deemed always to have applied,
as if paragraph (1) (g) of that section were amended by omitting "section 82KZ
and paragraphs 82KZA (1) (a), (aa) and (c) and (3) (ba), (c), (d) and (f) do
not apply" and substituting "section 82KZ, paragraphs 82KZA (1) (a), (aa) and
(c) and subsection 82KZA (3) do not apply".
"(6) Where:
a travel allowance was paid or is payable to a taxpayer;
the allowance relates solely or principally to travel outside
Australia by the taxpayer as the pilot, flight engineer, flight attendant, or
other member of the crew, of an aircraft; and
the total of the amounts of the eligible expenses, in relation to the
allowance, incurred by the taxpayer and claimed by the taxpayer as deductions
in respect of the year of income in which the expenses were incurred does not
exceed the amount of the allowance;
the following provisions have effect in relation to the taxpayer in
relation to the expenses referred to in paragraph (c):
subsections (2) and (3) do not apply, and shall be deemed never to
have applied;
section 82KZA applies, and shall be deemed always to have applied,
(in addition to any application of that section to the taxpayer in accordance
with subsection (5) of this section) as if paragraph (1) (c) of that section
were omitted and, where apart from this subsection subsection (2) of that
section applies, paragraph (3) (f) of that section were omitted.".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 30
Retention, and production, of documents
30. Section 82KZA of the Principal Act is amended:
by omitting paragraph (1) (aa) and substituting the following
paragraph:
in the case of an expense that is in respect of fuel or oil and
that was incurred in respect of a motor vehicle when owned or leased by the
taxpayer:
documentary evidence of the expense; or
odometer records maintained by or on behalf of the taxpayer for:
(A) if the taxpayer elects that subsection 82KW (2) apply in
relation to the motor vehicle in relation to the year of income-the holding
period within the meaning of that subsection; or
(B) in any other case-the holding period within the meaning of
section 82KUA or the period referred to in subparagraph 82KZ (1) (c) (i), as
the case requires;";
by omitting paragraph (3) (ba) and substituting the following
paragraph:
in the case of an expense that is in respect of fuel or oil and
that was incurred in respect of a motor vehicle when owned or leased by the
taxpayer-produces to the Commissioner, within the period specified in the
notice or such longer period as the Commissioner allows:
documentary evidence of the expense; or
odometer records maintained by or on behalf of the taxpayer for:
(A) if the taxpayer elects that subsection 82KW (2) apply in
relation to the motor vehicle in relation to the year of income-the holding
period within the meaning of that subsection; or
(B) in any other case-the holding period within the meaning of
section 82KUA or the period referred to in subparagraph 82KZ (1) (c) (i), as
the case requires;";
by omitting from paragraph (5) (aa) and subsection (6A) "a car" and
substituting "an".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 31
Relief from certain substantiation requirements where taxpayer had a reasonable
expectation that substantiation would not be required
31. Section 82KZBB of the Principal Act is amended:
by omitting from paragraph (1) (g) "and (c) and (3)" and substituting
", (aa) and (c) and (3) (ba),";
by omitting from paragraph (2) (a) and subparagraph (2) (b) (i) "car"
(wherever occurring) and substituting "motor vehicle";
by omitting from subparagraph (2) (b) (iii) "car after" and
substituting "motor vehicle after";
by omitting from paragraphs (2) (d) and (g) "car" and substituting
"motor vehicle".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 32
Other interpretative provisions
32. Section 160K of the Principal Act is amended:
(a) by inserting in subsection (1) the following definitions:
" 'Crown lease' means:
a lease of land granted by the Crown under a statutory law of the
Commonwealth, of a State or of a Territory; or
a similar lease granted under a statutory law of a foreign country
(whether or not that country is a republic);
'law', in relation to a foreign country, means a law of that country, or
of any part of, or place in, that country;
'statutory law' means a law, being a statutory instrument;";
(b) by omitting from subsection (2) "other than section 160ZZM" and
substituting "(other than sections 160ZZM and 160ZZMA)".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 33
Composite assets
33. Section 160P of the Principal Act is amended:
by inserting in paragraph (6) (a) "(other than a periodic roll-over
asset)" after "asset";
by inserting after subsection (6) the following subsection:
"(6A) Where:
a periodic roll-over asset (in this subsection called the 'actual
asset') acquired by a taxpayer before 20 September 1985 has been disposed of
on or after that date;
if it were assumed that:
the actual asset; and
all the predecessor assets of the actual asset;
together constituted a single asset (in this subsection called the
'overall asset'), an act or thing done in relation to the actual asset or any
of the predecessor assets after the taxpayer first acquired any of the
predecessor assets would constitute an improvement of a capital nature to the
overall asset;
if the improvement were a separate asset from the overall asset:
the improvement would be taken, for the purposes of this Part, to
have been acquired by the taxpayer on or after 20 September 1985; and
the indexed cost base to the taxpayer of the improvement would
exceed the amount applicable for the purposes of subparagraph (6) (c) (ii) in
relation to the year of income in which the actual asset was disposed of; and
the amount of the indexed cost base referred to in subparagraph (c)
(ii) exceeds 5% of the consideration in respect of the disposal of the actual
asset;
the improvement shall be taken, for the purposes of this Part, to be an
asset separate from the actual asset and each of those predecessor assets.";
by adding at the end the following subsections:
"(9) For the purposes of this section:
an asset is a predecessor of a second asset if the second asset
replaced the first-mentioned asset in circumstances of a kind referred to in a
periodic roll-over provision; and
where there is a series of acquisitions of assets such that each
asset replaced a previously acquired asset in circumstances of a kind referred
to in a periodic roll-over provision, each of the assets involved in the
series (other than the last asset to be acquired) shall be taken to be a
predecessor of the last asset to be acquired.
"(10) In this section:
'periodic roll-over asset' means an asset to which a periodic roll-over
provision applies;
'periodic roll-over provision' means section 160ZWA, 160ZZF or 160ZZPE.".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 34
Indexation of indexed cost base limit
34. Section 160Q of the Principal Act is amended by inserting in paragraph
(10) (a) "relates" after "160P (6) (b)".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 35
Disposal of taxable Australian assets
35. Section 160T of the Principal Act is amended:
(a) by omitting "or" from the end of paragraph (g);
(b) by adding at the end the following paragraphs:
the asset comprised a share in, or security of, a company and the
following conditions are satisfied in relation to the acquisition of the asset
by the taxpayer:
the asset was received by the taxpayer as consideration in
respect of the disposal (in this paragraph called the 'previous disposal') of
another asset by the taxpayer to the company;
the previous disposal took place after 28 January 1988;
section 160ZZN or 160ZZO applied in respect of the previous
disposal;
at the time of the previous disposal, the taxpayer:
(A) was not a trustee of a trust estate and was not a resident of
Australia; or
(B) was a trustee of a trust estate that was not a resident trust
estate or of a unit trust that was not a resident unit trust; or
the following conditions are satisfied in relation to the acquisition
of the asset by the taxpayer:
the taxpayer acquired the asset as a result of a disposal (in
this paragraph called the 'previous disposal') in respect of which section
160ZZN or 160ZZO applied;
the previous disposal was by:
(A) another taxpayer who was not a trustee of a trust estate and was
not a resident of Australia; or
(B) a trustee of a trust estate that was not a resident trust estate
or of a unit trust that was not a resident unit trust;
the previous disposal took place after 28 January 1988 and on or
before 25 May 1988.".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 36
Acquisition by lessee of reversionary interest of lessor
36. Section 160ZW of the Principal Act is amended by omitting subsection (1)
and substituting the following subsection:
"(1) Where:
the lessee under a lease of land acquires the reversionary interest of
the lessor in the land; and
section 160ZWA does not apply in respect of that acquisition; the
following provisions of this section have effect for the purposes of this Part.".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 37
37. After section 160ZW of the Principal Act the following Division is
inserted:
"Division 5A-Crown Leases
Roll-over or conversion of Crown lease
"160ZWA. (1) This section applies where:
at a particular time, one or more Crown leases (in this section called
the 'original Crown leases') owned by a taxpayer expire or are surrendered;
one or more fresh Crown leases (in this section called the 'new Crown
leases') or one or more freehold interests, or both, is or are granted to the
taxpayer by way of any one or more of the following:
the renewal of the original Crown leases, where the renewal is
(whether by law, custom or otherwise) wholly or principally attributable to
the taxpayer's prior ownership of the original Crown leases;
the extension of the term of the original Crown leases, where the
extension is (whether by law, custom or otherwise) wholly or principally
attributable to the taxpayer's prior ownership of the original Crown leases;
changing the purpose for which the land to which the original Crown
leases related may be used;
in a case where the original Crown leases were not leases in
perpetuity-the conversion of the original Crown leases to Crown leases in
perpetuity;
the conversion of the original Crown leases to freehold interests;
the consolidation, or the consolidation and division, of the
original Crown leases;
the subdivision of the original Crown leases;
excising or relinquishing a part (which part is in this section
called the 'excised area') of the area of land to which the original Crown
leases related;
expanding the area of land to which the original Crown leases
related; and
in the case of a taxpayer in the capacity of a trustee of a trust
estate-immediately after the grant of the new Crown leases or the freehold
interests, the taxpayer holds the new Crown leases or the freehold interests
upon the same trust as the taxpayer held the original Crown leases.
"(2) Subject to subsection (4), this Part (other than this section) does not
apply in respect of the expiry or surrender of any of the original Crown
leases.
"(3) For the purposes of this section:
an original Crown lease acquired by the taxpayer before 20 September
1985 shall be taken to be a pre-20 September 1985 original Crown lease; and
any other original Crown lease shall be taken to be a post-20 September
1985 original Crown lease.
"(4) Subject to this Part, if the taxpayer received, or was entitled to
receive, any consideration in respect of the expiry or surrender of a post- 20
September 1985 original Crown lease that related, in whole or in part, to the
excised area:
if the original Crown lease related wholly to the excised area-this
Part applies in respect of the disposal of that Crown lease; and
if the original Crown lease related only in part to the excised
area-the taxpayer shall be taken, for the purposes of this Part, to have
disposed of that part of that Crown lease that is attributable to the excised
area.
"(5) If a particular new Crown lease or freehold interest relates wholly to
land to which a pre-20 September 1985 original Crown lease related-the
taxpayer shall be taken, for the purposes of this Part, to have acquired the
new Crown lease or freehold interest before 20 September 1985.
"(6) If a particular new Crown lease relates wholly to land to which a
post-20 September 1985 original Crown lease related-the new Crown lease shall
be taken, for the purposes of this section, to be a post-20 September 1985 new
Crown lease.
"(7) If a particular freehold interest relates wholly to land to which a
post-20 September 1985 original Crown lease related-the freehold interest
shall be taken, for the purposes of this section, to be a post-20 September
1985 freehold interest.
"(8) If a particular new Crown lease relates partly to any 2 or more of the
following:
land to which a pre-20 September 1985 original Crown lease related;
land to which a post-20 September 1985 original Crown lease related;
other land; the following provisions have effect:
the new Crown lease shall be taken, for the purposes of this Part, to
comprise 2 or 3 separate leases, as follows:
(i) the new Crown lease to the extent to which it relates to land to
which a pre-20 September 1985 original Crown lease related;
(ii) the new Crown lease to the extent to which it relates to land to
which a post-20 September 1985 original Crown lease related;
(iii) the new Crown lease to the extent to which it relates to other land;
the taxpayer shall be treated, for the purposes of this Part, as if the
taxpayer had acquired the lease referred to in subparagraph (d) (i) before 20
September 1985;
the lease referred to in subparagraph (d) (ii) shall be taken, for the
purposes of this section, to be a post-20 September 1985 new Crown lease;
on the disposal of the actual new Crown lease, the consideration in
respect of the disposal of the actual lease shall be apportioned between the
separate leases.
"(9) If a particular freehold interest relates partly to any 2 or more of
the following:
land to which a pre-20 September 1985 original Crown lease related;
land to which a post-20 September 1985 original Crown lease related;
other land; the following provisions have effect:
the freehold interest shall be taken, for the purposes of this Part, to
comprise 2 or 3 separate freehold interests as follows:
the freehold interest to the extent to which it relates to land to
which a pre-20 September 1985 original Crown lease related;
the freehold interest to the extent to which it relates to land to
which a post-20 September 1985 original Crown lease related;
the freehold interest to the extent to which it relates to other
land;
the taxpayer shall be treated, for the purposes of this Part, as if the
taxpayer had acquired the freehold interest referred to in subparagraph (d)
(i) before 20 September 1985;
the freehold interest referred to in subparagraph (d) (ii) shall be
taken, for the purposes of this section, to be a post-20 September 1985
freehold interest;
on the disposal of the actual freehold interest, the consideration in
respect of the disposal of the actual freehold interest shall be apportioned
between the separate freehold interests.
"(10) For the purposes of subsections (11) and (12), a post-20 September
1985 new Crown lease or a post-20 September 1985 freehold interest shall be
taken to be a post-20 September 1985 land asset.
"(11) The taxpayer shall be taken to have paid or given as consideration in
respect of the acquisition of a post-20 September 1985 land asset:
for the purposes of ascertaining whether a capital gain accrued to the
taxpayer in the event of a subsequent disposal of the land asset by the
taxpayer-the amount calculated in accordance with the formula:
MV of land asset
ICB of post CGT orig. leases X MV of post CGT land assets
where:
ICB of post CGT orig. leases is the sum of the amounts that would have
been the indexed cost bases to the taxpayer of post-20 September 1985 original
Crown leases for the purposes of this Part if this Part had applied in respect
of the expiry or surrender of the original Crown leases reduced, in a case
where subsection (4) applies in relation to any of the post-20 September 1985
original Crown leases, by so much of those indexed cost bases as is
attributable to the excised area concerned;
MV of land asset is the number of dollars in the market value of the land
asset immediately after the acquisition of the land asset by the taxpayer; and
MV of post CGT land assets is the number of dollars in the market value of
the post-20 September 1985 land assets immediately after the acquisition of
the land assets by the taxpayer; or
for the purposes of ascertaining whether the taxpayer incurred a
capital loss in the event of a subsequent disposal of the land asset by the
taxpayer-the amount calculated in accordance with the formula:
MV of land asset
RCB of post CGT orig. leases X MV of post CGT land assets
where:
RCB of post CGT orig. leases is the sum of the amounts that would have
been the reduced cost bases to the taxpayer of post-20 September 1985 original
Crown leases for the purposes of this Part if this Part had applied in respect
of the expiry or surrender of the original Crown leases reduced, in a case
where subsection (4) applies in relation to any of the post-20 September 1985
original Crown leases, by so much of those reduced cost bases as is
attributable to the excised area concerned;
MV of land asset is the number of dollars in the market value of the land
asset immediately after the acquisition of the land asset by the taxpayer; and
MV of post CGT land assets is the number of dollars in the market value of
the post-20 September 1985 land assets immediately after the acquisition of
the land assets by the taxpayer.
"(12) If a post-20 September 1985 land asset is disposed of by the taxpayer
within 12 months after the earliest day, being a day after 19 September 1985,
on which any post-20 September 1985 original Crown lease was acquired by the
taxpayer, the reference in paragraph (11) (a) to the indexed cost bases to the
taxpayer of post-20 September 1985 original Crown leases is a reference to the
cost bases to the taxpayer of the post-20 September 1985 original Crown
leases.
"(13) Where:
the area of land (in this subsection called the 'original area') to
which the original Crown leases related differs from the area of land (in this
subsection called the 'new area') to which the new Crown leases or the
freehold interests relate; and
having regard to all relevant circumstances, including:
the difference between the size of the original area and the size of
the new area;
the difference between:
(A) the market value of the new Crown leases or the freehold interests
immediately after the grant of the new Crown leases or freehold interests to
the taxpayer; and
(B) the amount that would have been the market value of the new Crown
leases or freehold interests, immediately after the grant of the new Crown
leases or freehold interests to the taxpayer, if the new Crown leases or
freehold interests had been granted in respect of the original area instead of
the new area;
if land (in this subparagraph called the 'excepted land') that
formed part (whether a minor part or a significant part) of the original area
is not included in the new area but land (in this subparagraph called the 'new
land') that did not form part of the original area is included in the new
area-the circumstances that gave rise to the exclusion of the excepted land
from, and the inclusion of the new land in, the new area and, in particular,
(if applicable) the circumstance that the taxpayer sought, but was unable to
secure, the inclusion of the excepted land and agreed to the inclusion of the
new land only as a substitute for the excepted land; and
in the case of the grant of new Crown leases-whether the new Crown
leases were granted for the purpose of correcting errors or omissions;
the Commissioner is satisfied that it would be unreasonable not to apply
this subsection; the Commissioner may, for the purposes of subsections (5) to
(9) (inclusive), to such extent as the Commissioner considers reasonable,
treat a new Crown lease or a freehold interest as relating, in whole or in
part, to land to which a particular original Crown lease related.
"(14) In this section:
'freehold interest' means an estate in fee simple.
"(15) Where:
a Crown lease (in this subsection called the 'original lease') of land
(in this subsection called the 'original land') has been granted to a taxpayer;
after the grant of the original lease, the original land came to be
vested in or held by a government authority; and
the government authority granted to the taxpayer under a statutory law
of the Commonwealth, of a State or of a Territory a lease (in this subsection
called the 'fresh lease') of the original land, or of that land less an
excised area or together with an additional area; then, for the purposes of
this section, the fresh lease shall be taken to be a Crown lease and to have
been granted by way of renewal of the original lease.
"(16) If there was a period between the end of the term of the original
lease referred to in subsection (15) and the beginning of the term of the
fresh lease so referred to, that period shall not be taken to preclude the
fresh lease from being regarded for the purposes of that subsection as a
renewal of the original lease provided that the taxpayer concerned continued
in occupation of the original land during that period under a permission,
licence or authority granted by the relevant government authority pending the
grant of the fresh lease.".
TAXATION LAWS AMENDMENT ACT 1989No. 11, 1989
- SECT 38
38. After section 160ZYQ of the Principal Act the following Division is
inserted:
"Division 10A-Rights to Acquire Units in a Unit Trust
Application
"160ZYQA. Where:
a person (in this Division called the 'unitholder') holds units in a
unit trust (in this Division called the 'original units');
after 28 January 1988, the trustee of the unit trust issues to the
unitholder rights (in this Division called the 'rights') to acquire units (in
this Division called 'new units') in the unit trust or to acquire an option
(in this Division called the 'option') to acquire units in the unit trust; and
the unitholder did not pay or give any consideration in respect of the
acquisition of the rights;
sections 160ZYQB to 160ZYQE (inclusive) have effect.
Exercise of rights not to constitute disposal
"160ZYQB. The rights shall not be taken to have been disposed of by the
Subparagraph 10A (b) (ii):
Omit "his or her return for the current", substitute "the employer's car
records for the".
Paragraph 10B (b):
Omit "his or her return", substitute "the employer's car records".
Sub-subparagraph 10B (b) (i) (B):
Omit "employer's return", substitute "employer's car records".
Paragraph 10C (1) (a):
Omit "his or her return", substitute "the employer's car records".
Paragraph 10C (1) (c):
Omit "return", substitute "car records".
Paragraph 10C (1) (d):
Omit "his or her return", substitute "the employer's car records".
Paragraph 10C (1) (d):
Omit "the return", substitute "the car records".
Paragraph 10C (2) (b):
Omit "his or her return", substitute "the employer's car records".
Subsection 10C (2):
Omit "the return", substitute "the car records".
Paragraph 65E (a):
Omit "his or her return", substitute "the employer's car records".
Subparagraph 65E (b) (ii):
Omit "his or her return", substitute "the employer's car records".
Paragraph 65F (b):
Omit "his or her return", substitute "the employer's car records".
Sub-subparagraph 65F (b) (i) (B):
Omit "employer's return", substitute "employer's car records".
Paragraph 65G (a):
Omit "return", substitute "car records".
Paragraph 65G (b):
Omit "return", substitute "car records".
Paragraph 65H (1) (a):
Omit "his or her return", substitute "the employer's car records".
Paragraph 65H (1) (c):
Omit "return", substitute "car records".
Paragraph 65H (1) (d):
Omit "his or her return", substitute "the employer's car records".
Paragraph 65H (1) (d):
Omit "the return", substitute "the car records".
Paragraph 65H (2) (b):
Omit "his or her return", substitute "the employer's car records".
Subsection 65H (2):
Omit "the return", substitute "the car records".
Subparagraph 106 (1) (aa) (iv):
Omit the subparagraph.
Paragraph 115A (1) (a):
Omit "his or her return", substitute "the employer's car records".
Paragraph 115A (2) (a):
Omit "his or her return", substitute "the employer's car records".
Section 162D:
Repeal the section, substitute the following section:
Deemed specification of matters in car records
"162D. Where an employer fails, through inadvertence, to specify any or all
of the following matters in car records of the employer for a year of tax:
a period of a kind mentioned in subsection 162H (1) or (2);
a nomination of the kind mentioned in subsection 162K (2) or 162L (2) or
particulars of such a nomination;
a percentage of a kind mentioned in section 10A, 10B, 65E or 65F;
the Commissioner may determine that a period, nomination, particular or
percentage of that kind specified by the employer in a document lodged with the
Commissioner shall be treated, for the purposes of this Act, as if it had been
specified by the employer in those car records.".
Sub-subparagraph 162G (1) (g) (iii) (A):
Omit "his or her return", substitute "the employer's car records".
Sub-subparagraph 162G (2) (g) (iii) (A):
Omit "his or her return", substitute "the employer's car records".
Subparagraph 162H (1) (b) (ii):
Omit "his or her return", substitute "the employer's car records".
Subparagraph 162H (2) (b) (ii):
Omit "his or her return", substitute "the employer's car records".
Subsection 162K (2):
Omit "his or her return", substitute "the employer's car records".
Subsection 162L (2):
Omit "his or her return", substitute "the employer's car records".
The
Act No. 11, 1989 amended as indicated in the Tables below.
Act | Number and year | Date of Assent | Date of commencement | Application, saving or transitional provisions |
11, 1989 | 16 Mar 1989 | 16 Mar 1989 | ||
75, 2010 | 28 June 2010 | Schedule 6 (item 25): 29 June 2010 | — |
| |
Provision affected | How affected |
S. 53......................................... | rep. No. 75, 2010 |
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0
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