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Tax Laws Amendment (2010 Measures No. 4) Bill 2010

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2010

 

THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

 

 

 

HOUSE OF REPRESENTATIVES

 

 

 

tax laws amendment (2010 measures No . 4) Bill 2010

 

 

 

CORRECTIONS TO THE

EXPLANATORY MEMORANDUM

 

 

 

 

(Circulated by the authority of the

Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP)

 



Corrections to legislative references

 

Chapter 1

Paragraph 1.9:  insert at the end of the paragraph [Schedule 1, item 1]

Paragraph 1.12:  insert at the end of the paragraph [Schedule 1, item 2]

Paragraph 1.16:  insert at the end of the paragraph [Schedule 1, item 3]

 

Chapter 2

Paragraph 2.86:  omit [Schedule 2, item 200] — insert [Schedule 2, item 8]

Paragraph 2.91:  omit [Schedule 2, item 300] — insert [Schedule 2, item 9]

Paragraph 2.92:  omit [Schedule 2, subitems 305(1) and (2)] — insert [Schedule 2, subitems 10(1) and (2)]

Paragraph 2.93:  omit [Schedule 2 , subitem 305(3)] — insert [Schedule 2, subitem 10(3)]

Paragraph 2.95:  omit [Schedule 2, item 310] — insert [Schedule 2, item 11]

Paragraph 2.96:  omit [Schedule 2, subitem 315(1)] — insert [Schedule 2, subitem 12(1)]

Paragraph 2.97:  omit [Schedule 2, subitem 315(2)] — insert [Schedule 2, subitem 12(2)]

 

Chapter 3

Paragraph 3.98:  omit [Clause 2, items 2, 4 and 7 in the table] — insert [Clause 2, items 3, 5 and 8 in the table]

Paragraph 3.99:  omit [Clause 2, item 3 in the table] — insert [Clause 2, item 4 in the table]

Paragraph 3.100:  omit [Clause 2, item 5 in the table] — insert [Clause 2, item 6 in the table]

Paragraph 3.101:  omit [Clause 2, item 6 in the table] — insert [Clause 2, item 7 in the table]

Paragraph 3.102:  omit [Clause 2, items 1 and 8 in the table] — insert [Clause 2, items 1 and 9 in the table]

 

Chapter 4

Page 77:  omit Example heading ‘Example 1.1(b)’ — insert ‘Example 4.1(b)’

Paragraph 4.39:  omit [Clause 2, item 8 in the table] — insert [Clause 2, item 9 in the table]

Chapter 5

Paragraph 5.23:  insert at the end of the paragraph [Schedule 4, item 5]

 

Chapter 8

Paragraph 8.20: omit [Schedule 7, item 12A.1.1 in the table in section 30-102 of the ITAA 1997] — insert [Schedule 7, item 1, item 12A.1.1 in the table in section 30-102 of the ITAA 1997]

 



Revised index

Schedule 1:  Adjustments for third party payments

Bill reference

Paragraph number

Item 1

1.9

Item 2

1.12

Item 3

1.16

Schedule 2:  CGT treatment of water entitlements and termination fees

Bill reference

Paragraph number

Item 1

2.99

Item 2

2.50, 2.100

Items 3 to 5

2.101

Item 6, subsection 124-1105(1)

2.29

Item 6, paragraphs 124-1105(1)(a) and (b)

2.34

Item 6, paragraph 124-1105(1)(c)

2.37

Item 6, paragraph 124-1105(1)(d)

2.36

Item 6, subsection 124-1105(2)

2.29

Item 6, paragraphs 124-1105(2)(a), (b) and (d)

2.39

Item 6, paragraph 124-1105(2)(c)

2.40

Item 6, subsection 124-1105(3)

2.33

Item 6, subsection 124-1105(4)

2.22, 2.24, 2.28

Item 6, section 124-1110

2.42

Item 6, subsection 124-1115(1)

2.43

Item 6, subsections 124-1115(2) and (4) and paragraph 124-1115(5)(a)

2.44

Item 6, subsections 124-1115(3) and (4) and paragraph 124-1115(5)(b)

2.45

Item 6, paragraphs 124-1120(1)(a) and (b) and (2)(a) to (c)

2.51

Item 6, paragraphs 124-1120(1)(c) and (2)(d)

2.54

Item 6, subsections 124-1120(3) and (4)

2.55

Item 6, subsection 124-1120(4)

2.52

Item 6, section 124-1125

2.46

Item 6, subsection 124-1130(1)

2.56

Item 6, subsection 124-1130(2)

2.57

Item 6, paragraphs 124-1130(3)(a) and (b)

2.58

Item 6, paragraph 124-1130(3)(c)

2.59

Item 6, subsection 124-1130(4)

2.60

Item 6, section 124-1135

2.64

Item 6, section 124-1140

2.69

Item 6, subsections 124-1145(1) and (2)

2.71

Item 6, subsection 124-1145(3)

2.73

Item 6, subsection 124-1145(4)

2.72

Item 6, subsection 124-1150(1)

2.74

Item 6, subsection 124-1150(2)

2.75

Item 6, subsection 124-1150(3)

2.76

Item 6, subsection 124-1150(4)

2.77

Item 6, section 124-1155

2.79

Item 6, section 124-1160

2.80

Item 6, subsection 124-1165(1)

2.81

Item 6, subsections 124-1165(2) and (4)

2.82

Item 6, subsections 124-1165(3) and (4)

2.83

Item 7

2.102

Item 8

2.86

Item 9

2.91

Subitems 10(1) and (2)

2.92

Subitem 10(3)

2.93

Item 11

2.95

Subitem 12(1)

2.96

Subitem 12(2)

2.97

Schedule 3:  Taxation of financial arrangements

Bill reference

Paragraph number

Items 1 and 2, paragraphs 102AAW(2)(a) and (b) of the ITAA 1936

3.79

Part 2, item 135

3.94

Items 3 and 4, section 118-27(heading) and subsection 118-27(4)

3.64

Items 5 and 106, subparagraphs 230-5(2)(a)(ii) and 230-455(1)(a)(ii)

3.52

Item 6, subsection 230-15(4A)

3.35

Item 6, paragraph 230-15(4A)(a)

3.35

Item 6, paragraph 230-15(4A)(b)

3.35

Item 6, paragraph 230-15(4A)(c)

3.35

Item 7, subsection 230-45(4)

3.22, 3.26

Item 7, subsection 230-45(5)

3.22

Item 7, paragraph 230-45(5)(a)

3.31

Item 7, paragraph 230-45(5)(b)

3.32

Items 8 to 10, 13 and 105, paragraph 230-70(1)(b), 230-75(1)(b) and 230-110(1)(c), subparagraph 230-130(5)(b)(ii), and subsection 230-435(5)

3.87

Item 11, subsection 230-115(1)

3.36

Item 12, subsection 230-115(8)

3.41

Items 12, 67 and 118, subsection 230-115(8), subparagraph 230-335(1)(c)(ii) and subsection 230-530(1)

3.88

Item 14, subsection 230-145(5)

3.39

Items 15, 22, 26, 27, 34, 41, 56, 57, 58, 73, 74, 75, 77, 80, 83, 92, 107, 113, 119 and 122, subparagraphs 230-150(1)(a)(i) and 230-185(2)(e)(i), subsection 230-190(8), subparagraphs 230-210(2)(a)(i), 230-220(1)(c)(i) and 230-255(2)(a)(i), subsection 230-310(4), paragraph 230-310(5)(a), subparagraph 230-315(2)(a)(i), paragraphs 230-335(10)(c) to (e), and 230-355(1)(b), subparagraph 230-365(c)(i), 230-395(2)(a)(i) and 230-410(1)(d)(i), paragraphs 230-455(5)(b) and 230-500(a), subparagraphs 230-530(3)(d)(i) and 230-530(4)(e)(i)

3.71

Items 16, 23, 28, 35, 42, 59, 84, 93, 120 and 123, subparagraphs 230-150(1)(a)(ii), 230-185(2)(e)(ii), 230-210(2)(a)(ii), 230-220(1)(c)(ii), 230-255(2)(a)(ii), 230-315(2)(a)(ii),230-395(2)(a)(ii), 230-410(1)(d)(ii), 230-530(3)(d)(ii) and 230-530(4)(e)(ii)

3.71

Items 17, 24, 29, 36, 43, 60, 85, 94, 121 and 124, subparagraphs 230-150(1)(a)(ii), 230-185(2)(e)(ii), 230-210(2)(a)(ii), 230-220(1)(c)(ii), 230-255(2)(a)(ii), 230-315(2)(a)(ii), 230-395(2)(a)(ii), 230-410(1)(d)(ii), 230-530(3)(d)(ii) and 230-530(4)(e)(ii)

3.71

Items 18, 19, 30, 31, 44, 45, 61, 62, 86, 87 and 114, subparagraphs 230-150(1)(b)(i) and (ii), 230-210(2)(b)(i) and (ii), 230-255(2)(b)(i) and (ii), 230-315(2)(b)(i) and (ii), 230-395(2)(b)(i) and (ii) and paragraph 230-500(b)

3.76

Items 20, 32, 46, 63 and 88, subparagraphs 230-150(1)(b)(ii), 230-210(2)(b)(ii), 230-255(2)(b)(ii), 230-315(2)(b)(ii) and 230-395(2)(b)(ii)

3.76

Item 21, subsection 230-155(5)

3.40

Items 25, 37 to 40, 66, 69 to 72, 78, 79, 81, 90, 91, 96, 99 to 104 and 112, paragraphs 230-185(2)(e), 230-230(1)(a) to (c), subsection 230-230(3), paragraph 230-335(1)(b), subparagraph 230-335(3)(c)(i), paragraph 230-335(5)(b), subsections 230-335(8) and (9), subparagraph 230-355(5)(a)(ii), paragraphs 230-365(a) and (c) and 230-405(2)(a) and (b), subsection 230-410(2), paragraphs 230-420(1)(a) to (c), subsection 230-420(3), paragraphs 230-430(4)(a) and (c) and 230-495(1)(d)

3.78

Items 33, 47, 64 and 89, subsections 230-210(2) (note), 230-255(2)(note), 230-315(2)(note) and 230-395(2)(note 1)

3.78

Items 48, 49 and 82, subsections 230-275(1) to (3) and 230-380(1)

3.90

Items 50 and 52, subsections 230-300(5) and (11)

3.46

Item 51, subsection 230-300(6)

3.50

Items 53 and 55, section 230-305

3.47

Item 54, section 230-305 (after item 2 in the table)

3.45

Item 65, paragraph 230-335(1)(a)

3.42

Item 68, subparagraph 230-335(1)(c)(ii)

3.43

Item 76, section 230-340(heading)

3.92

Item 95, subparagraph 230-410(1)(e)(ii)

3.92

Item 97, subsection 230-410(5)

3.92

Item 98, subsection 230-410(6)

3.92

Item 108, subsection 230-460(4)

3.61

Item 109, paragraph 230-460(8)(a)

3.63

Items 110 and 111, section 230-495 (heading), paragraph 230-495(1)(b)

3.78

Item 115, paragraph 230-520(1)(b)

3.89

Item 116, paragraph 230-520(1)(d)

3.93

Item 117, subsection 230-520(2)

3.93

Item 125, paragraph 775-295(1)(c)

3.92

Item 126, paragraph 775-305(1)(b)

3.92

Item 127, subsection 775-305(2)

3.51

Item 128, subsection 775-305(3)

3.51

Item 129, subsection 995-1(1)

3.75

Item 130, subsection 995-1(1)

3.90

Item 131, subsection 995-1(1)

3.91

Item 132, subsection 2(1) (item 11 in the table) of the Tax Laws Amendment (2010 Measures No. 1) Act 2010

3.70

Item 133, subitem 104(7) of Schedule 1 to the TOFA Act 2009

3.83

Item 134, subitem 104(7A) of Schedule 1 to the TOFA Act 2009

3.84

Items 136 and 137, sections 11-10 and 11-55

4.36

Item 138, paragraph 775-15(2)(b) (item 1 in the table, column 2)

4.5

Items 139, 140 and 143, sections 775-20, 775-25 and paragraph 775-35(2)(a)

4.37

Item 141, section 775-27

4.10

Item 142, subsection 775-35(1)

4.17

Item 144, subparagraph 775-50(1)(b)(iii)

4.21

Item 145, subparagraph 775-55(1)(b)(xi)

4.24

Item 146, paragraph 775-55(4)(a)

4.24

Item 147, subparagraph 775-60(1)(b)(iii)

4.28

Item 148, section 775-168

4.31

Clause 2, items 1 and 9 in the table

3.102

Clause 2, items 3, 5 and 8 in the table

3.98

Clause 2, item 4 in the table

3.99

Clause 2, item 6 in the table

3.100

Clause 2, item 7 in the table

3.101

Clause 2, item 9 in the table

4.39

Schedule 4:  Scrip for scrip alignment

Bill reference

Paragraph number

Item 1, paragraph 124-780(1)(b)

5.11

Item 2, paragraph 124-780(2A)(a)

5.12

Item 2, paragraph 124-780(2A)(b)

5.13

Item 3, paragraph 124-781(1)(c)

5.19

Item 4, paragraph 124-781(2A)(a)

5.20

Item 4, paragraph 124-781(2A)(b)

5.21

Item 5

5.23

Schedule 5:  Medical expenses tax offset claim threshold

Bill reference

Paragraph number

Item 1

6.14

Items 2 and 3

6.11

Item 4

6.10

Schedule 6:  Deductible gift recipients

Bill reference

Paragraph number

Item 1, item 2.2.32 in the table in subsection 30-25(2

7.12

Item 2, item 2.2.38 in the table in subsection 30-25(2)

7.6

Item 3, item 9.2.17 in the table in subsection 30-80(2)

7.11

Item 4, item 13.2.18 in the table in section 30-105

7.9

Items 5 to 7, items 31B, 70AA and 81A in the table in section 30-315

7.14

Schedule 7:  Extending gift deductibility to volunteer fire brigades

Bill reference

Paragraph number

Item 1, item 12A.1.1 in the table in section 30-102 of the ITAA 1997

8.14, 8.16, 8.20

Item 1, item 12A.1.2 in the table in section 30-102 of the ITAA 1997

8.14, 8.27, 8.39

Item 1, items 12A.1.2 and 12A.1.3 in the table in section 30-102 of the ITAA 1997

8.23, 8.43

Item 1, item 12A.1.3 in the table in section 30-102 of the ITAA 1997

8.28, 8.30

Item 2, subsection 30-315(2) of the ITAA 1997

8.72

Item 3, section 30-102 of the Income Tax (Transitional Provisions) Act 1997

8.69

Item 4

8.71