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Tax Laws Amendment (2008 Measures No. 1) Bill 2008

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2008

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

Tax Laws Amendment (2008 Measures No. 1) Bill 2008

 

 

(1)     Clause 2, page 1 (line 7) to page 2 (line 6), omit the clause, substitute:

2   Commencement

                   This Act commences on the day on which it receives the Royal Assent.

[moving schedules to another Bill]

(2)     Schedule 1, page 3 (before line 4), insert:

A New Tax System (Goods and Services Tax) Act 1999

1A  Amendments of the A New Tax System (Goods and Services Tax) Act 1999

The provisions of the A New Tax System (Goods and Services Tax) Act 1999 listed in the table are amended as set out in the table.

Amendments

Item

Provision

Omit:

Substitute:

1

Paragraph 38-250(1)(a)

* gift-deductible entity

* concessional entity

2

Paragraph 38-250(2)(a)

* gift-deductible entity

* concessional entity

3

Subsection 38-250(3) (example)

gift-deductible entity

concessional entity

4

Subsection 38-250(4)

* gift-deductible entity

* concessional entity

5

Subsection 38-250(4) (note)

gift-deductible entities

concessional entities

6

Paragraph 38-255(1)(a)

* gift-deductible entity

* concessional entity

7

Paragraph 38-255(1)(b)

gift-deductible entity

concessional entity

8

Subsection 38-255(1)

gift-deductible entity (last occurring)

concessional entity

9

Subsection 38-255(2) (example)

gift-deductible entity

concessional entity

10

Subsection 38-255(3)

* gift-deductible entity

* concessional entity

11

Subsection 38-255(3) (note)

gift-deductible entities

concessional entities

12

Paragraph 38-270(1)(a)

* gift-deductible entity

* concessional entity

13

Subsection 38-270(2) (example)

gift-deductible entity

concessional entity

14

Subsection 38-270(3)

* gift-deductible entity

* concessional entity

15

Subsection 38-270(3) (note)

gift-deductible entities

concessional entities

16

Paragraph 40-160(1)(a)

* gift-deductible entity

* concessional entity

17

Subsection 40-160(2) (example)

gift-deductible entity

concessional entity

18

Subsection 40-160(3)

* gift-deductible entity

* concessional entity

19

Subsection 40-160(3) (note)

gift-deductible entities

concessional entities

20

Subparagraph 48-15(1)(e)(iii)

* gift-deductible entity

* concessional entity

21

Subsection 48-15(1AA) (example)

gift-deductible entity

concessional entity

22

Paragraph 63-5(2)(aa)

* gift-deductible entity

* concessional entity

23

Subsection 63-5(3) (example)

gift-deductible entity

concessional entity

24

Paragraph 111-18(1)(a)

* gift-deductible entity

* concessional entity

25

Subsection 111-18(1)

gift-deductible entity (second, third and fourth occurring)

concessional entity

26

Subsection 111-18(2) (example)

gift-deductible entity

concessional entity

27

Subsection 111-18(3)

* gift-deductible entity

* concessional entity

28

Subsection 111-18(3) (note)

gift-deductible entities

concessional entities

29

Section 129-45 (heading)

129-45  Gifts to gift-deductible entities

129-45  Gifts to concessional entities

30

Subsection 129-45(1)

* gift-deductible entity

* concessional entity

31

Subsection 129-45(2) (example)

gift-deductible entity

concessional entity

32

Subsection 129-45(3)

* gift-deductible entity

* concessional entity

33

Subsection 129-45(3) (note)

gift-deductible entities

concessional entities

34

Section 157-1

gift-deductible entity

concessional entity

35

Subsection 157-5(1)

* gift-deductible entity

* concessional entity

36

Subsection 157-5(2) (example)

gift-deductible entity

concessional entity

37

Subsection 157-5(3)

* gift-deductible entity

* concessional entity

38

Subsection 157-5(3) (note)

gift-deductible entities

concessional entities

39

Subsection 157-10(1)

* gift-deductible entity

* concessional entity

40

Subsection 157-10(2) (example)

gift-deductible entity

concessional entity

41

Subsection 157-10(3)

* gift-deductible entity

* concessional entity

42

Subsection 157-10(3) (note)

gift-deductible entities

concessional entities

1B  Section 195-1

Insert:

Australian legislature has the same meaning as in the Income Tax Assessment Act 1997 .

1C  Section 195-1

Insert:

concessional entity means:

                     (a)  an entity, gifts or contributions to which can be deductible under Division 30 of the Income Tax Assessment Act 1997 ; or

                     (b)  a political party that is registered under Part XI of the Commonwealth Electoral Act 1918 or under a corresponding * State law or * Territory law; or

                     (c)  an * independent candidate; or

                     (d)  an * independent member.

1D  Section 195-1 (definition of gift-deductible entity )

Repeal the definition.

1E  Section 195-1

Insert:

independent candidate : an individual is an independent candidate at a time if, at that time:

                     (a)  the individual’s candidature in an election for members of an * Australian legislature has been declared or otherwise publicly announced by an entity authorised under the relevant electoral legislation; and

                     (b)  the individual’s candidature is not endorsed by a political party that is registered under Part XI of the Commonwealth Electoral Act 1918 or under a corresponding * State law or * Territory law; and

                     (c)  the earliest of these has not occurred:

                              (i)  the time when the result of the election is declared or otherwise publicly announced by an entity authorised under the relevant electoral legislation; and

                             (ii)  the time (if any) when the individual’s intention to no longer be a candidate for the election is publicly available; and

                            (iii)  the time (if any) when, after the election is taken to have wholly failed under the relevant electoral legislation, candidates for the replacement election are declared or otherwise publicly announced by an entity authorised under that legislation.

1F  Section 195-1

Insert:

independent member : an individual is an independent member at a time if, at that time:

                     (a)  one of the following applies:

                              (i)  the individual is a member of an * Australian legislature;

                             (ii)  the individual’s election as a member of an Australian legislature (including as a result of an election that is later declared void) has been declared or otherwise publicly announced by an entity authorised under the relevant electoral legislation, in a case where the individual has not yet started serving as such a member;

                            (iii)  the individual has ceased to be a member of an Australian legislature because the legislature, or a house of the legislature, is dissolved or has reached its maximum duration, because the individual comes up for election or because the relevant election has been declared void, in a case where candidates for the resulting election have not yet been declared or otherwise publicly announced by an entity authorised under the relevant electoral legislation; and

                     (b)  the individual is not a member of a political party that is registered under Part XI of the Commonwealth Electoral Act 1918 or under a corresponding * State law or * Territory law.

[GST]

(3)     Schedules 2 to 6, page 6 (line 1) to page 23 (line 21), to be opposed .

[moving schedules to another Bill]