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Omnibus Repeal Day (Autumn 2014) Bill 2014
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Schedule 10 Treasury

Part 1 Repeals of Acts

International » « Monetary » « Agreements » Act 1965

1  The whole of the Act

Repeal the Act.

« International » « Monetary » « Agreements » Act 1970

2  The whole of the Act

Repeal the Act.

« International » « Monetary » Fund (Quota Increase) Act 1983

3  The whole of the Act

Repeal the Act.

« International » « Monetary » Fund (Quota Increase and Agreement Amendments) Act 1991

4  The whole of the Act

Repeal the Act.

Payment of Tax Receipts (Victoria) Act 1996

5  The whole of the Act

Repeal the Act.

States (Works and Housing) « Assistance » Act 1982

6  The whole of the Act

Repeal the Act.

States (Works and Housing) « Assistance » Act 1983

7  The whole of the Act

Repeal the Act.

States (Works and Housing) « Assistance » Act 1984

8  The whole of the Act

Repeal the Act.

States (Works and Housing) « Assistance » Act 1985

9  The whole of the Act

Repeal the Act.

States (Works and Housing) « Assistance » Act 1988

10  The whole of the Act

Repeal the Act .

11  Saving provision

Despite the repeal of an Act made by item 6, 7, 8, 9 or 10:

                     (a)  the Act continues to apply, on and after the commencement of this item, in relation to a payment (including a loan) made by the Commonwealth under the Act before that commencement; and

                     (b)  without limiting paragraph (a), the provisions of the Act relating to the terms or conditions of that payment, or to the repayment of that payment (including interest), continue to apply on and after that commencement.

Part 2 Amendments relating to Education Expenses Tax Offset

A New Tax System (Family « Assistance » ) (Administration) Act 1999

12  Section 169B

Repeal the section.

Income Tax Assessment Act 1997

13  Subdivision 61-M

Repeal the Subdivision.

14  Section 67-23 (table item 12)

Repeal the item.

15  Section 960-265 (table item 4A)

Repeal the item.

Social Security (Administration) Act 1999

16  Section 208A

Repeal the section.

Student « Assistance » Act 1973

17  Section 356A

Repeal the section.

Taxation Administration Act 1953

18  Section 45-340 in Schedule 1 (method statement, step 1, paragraph (db))

Repeal the paragraph.

19  Section 45-375 in Schedule 1 (method statement, step 1, paragraph (cb))

Repeal the paragraph.

Part 3 Amendments relating to Sugar Industry Reform Program

Income Tax Assessment Act 1936

20  Subsection 170(10AA) (table item 1A)

Repeal the item.

Income Tax Assessment Act 1997

21  Section 10-5 (table item headed “sugar industry exit grants”)

Repeal the item.

22  Section 11-15 (table item headed “agricultural industry exit grants”)

Omit:

sugar industry exit grants....................................................

53-10

23  Section 15-65

Repeal the section.

24  Section 53-10 (table item 4B)

Repeal the item.

25  Section 53-10 (note 2)

Repeal the note.

26  Paragraph 118-37(1)(f)

Repeal the paragraph.

27  Transitional— « amendment » of assessments

Despite the repeals made by this Part, the following provisions continue to apply, on and after the commencement of this Part, in relation to amounts paid by way of a sugar industry exit grant before that commencement:

                     (a)  table item 1A in subsection 170(10AA) of the Income Tax Assessment Act 1936 ;

                     (b)  section 15-65 of the Income Tax Assessment Act 1997 .

Part 4 Amendments relating to « Financial Services Reform roll-over

Income Tax Assessment Act 1997

28  Section 108-50 (note)

Omit “, section 124-725 (about a roll-over for a prospecting or mining entitlement) and sections 124-895, 124-915 and 124-920 (about roll-overs for FSR transitions)”, substitute “and section 124-725 (about a roll-over for a prospecting or mining entitlement)”.

29  Subsection 108-75(2) (table item 3)

Omit “or 124-O”, substitute “or former Subdivision 124-O”.

30  Section 109-55 (table items 6A, 7A and 7B)

Repeal the items.

31  Section 112-115 (table item 14BA)

Repeal the item.

32  Subsection 124-5(1) (note 1)

Omit “Note 1”, substitute “Note”.

33  Subsection 124-5(1) (note 2)

Repeal the note.

34  Subsection 124-5(2) (note)

Omit “The consequences of the new owner roll-overs in Subdivision 124-O (about FSR transitions) are set out in that Subdivision.”.

35  Subsection 124-10(3) (note 1)

Omit “and Subdivision 124-O (about FSR transitions)”.

36  Subsection 124-10(3) (note 2)

Omit “, Subdivision 124-L (about prospecting and mining) and Subdivision 124-O (about FSR transitions)”, substitute “and Subdivision 124-L (about prospecting and mining)”.

37  Subsection 124-15(5) (note)

Repeal the note.

38  Subdivision 124-O

Repeal the Subdivision.

39  Subsection 152-45(1A)

Before “section 124-880, 124-885 or 124-890”, insert “former”.

40  Subsection 152-45(1A) (note 1)

Repeal the note, substitute:

Note 1:       Former Subdivision 124-O provided a roll-over for certain CGT assets that came to an end as a result of an FSR transition.

41  Subsection 152-45(1B)

Before “section 124-900, 124-905 or 124-910”, insert “former”.

42  Subsection 152-45(1B) (note 1)

Repeal the note, substitute:

Note 1:       Former Subdivision 124-O provided a roll-over for certain CGT assets that came to an end as a result of an FSR transition.

43  Subsection 152-115(1A)

Before “section 124-880, 124-885 or 124-890”, insert “former”.

44  Subsection 152-115(1A) (note)

Repeal the note, substitute:

Note:          Former Subdivision 124-O provided a roll-over for certain CGT assets that came to an end as a result of an FSR transition.

45  Subsection 152-115(1B)

Before “section 124-900, 124-905 or 124-910”, insert “former”.

46  Subsection 152-115(1B) (note)

Repeal the note, substitute:

Note:          Former Subdivision 124-O provided a roll-over for certain CGT assets that came to an end as a result of an FSR transition.

Part 5 Amendments relating to Superannuation Safety Reform roll-over

Income Tax Assessment Act 1997

47  Section 112-150 (table item 9)

Repeal the item.

48  Subdivision 126-F

Repeal the Subdivision.