Income Tax Assessment Act 1936
Act No. 27 of 1936 as amended
This compilation was prepared on 15 January 2013
taking into account amendments up to Act No. 180 of 2012
Volume 7 includes: Repeal Table
Notes 2 – 4
Tables A and B
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
Notes to the Income Tax Assessment Act 1936
Repeal Table
The amendment history of the repealed provisions of the Income Tax Assessment Act 1936 up to and including Act No. 132, 2000 appears in the Table below.
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted | ||
Provision affected | How affected | |
S. 5 .................... | am. Nos. 17 and 65, 1940; Nos. 58 and 69, 1941; No. 22, 1942; No. 10, 1943; No. 3, 1944; No. 6, 1946; Nos. 11 and 63, 1947; No. 48, 1950; No. 44, 1951; Nos. 45 and 81, 1953 | |
| rs. No. 101, 1956 | |
| am. No. 65, 1957; Nos. 12 and 85, 1959; No. 18, 1960; No. 17, 1961; No. 39, 1962; No. 69, 1963; No. 110, 1964; No. 103, 1965; No. 50, 1966; Nos. 38 and 85, 1967; No. 60, 1968; No. 101, 1969; No. 87, 1970; No. 54, 1971 | |
| rep. No. 164, 1973 | |
S. 6D .................. | ad. No. 46, 1972 | |
| am. Nos. 51 and 165, 1973; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 6E ................... | ad. No. 138, 1987 | |
| rep. No. 97, 1989 | |
S. 7 .................... | am. No. 62, 1955; No. 65, 1957; No. 70, 1959; No. 18, 1960; No. 87, 1968; No. 51, 1973 | |
| rs. No. 164, 1973 | |
| rep. No. 80, 1975 | |
S. 9 .................... | rep. No. 1, 1953 | |
S. 10 ................... | am. No. 1, 1953; No. 51, 1973; No. 216, 1973 (as am. by No. 20, 1974) | |
| rep. No. 123, 1984 | |
Ss. 11, 12 ............... | rep. No. 1, 1953 | |
S. 13 ................... | am. No. 1, 1953; No. 216, 1973 (as am. by No. 20, 1974) | |
| rep. No. 123, 1984 | |
S. 15 ................... | rep. No. 87, 1978 | |
S. 23A .................. | ad. No. 50, 1942 | |
| am. No. 10, 1943 | |
| rs. No. 45, 1953 | |
| am. Nos. 18 and 58, 1960; No. 39, 1962; No. 60, 1968; Nos. 51 and 164, 1973 | |
| rep. No. 126, 1974 | |
S. 23AAA ............... | ad. No. 19, 1967 | |
| rep. No. 65, 1972 | |
S. 23AD ................ | ad. No. 165, 1973 | |
| am. No. 56, 1976; No. 57, 1977; No. 108, 1981; No. 106, 1982; No. 103, 1983; Nos. 14 and 123, 1984; No. 49, 1985; No. 173, 1985 (as am. by No. 49, 1986); No. 154, 1986; Nos. 78 and 95, 1988; Nos. 20 and 35, 1990; Nos. 48 and 216, 1991 | |
| rep. No. 100, 1991 | |
S. 23B .................. | ad. No. 44, 1951 | |
| rep. No. 101, 1956 | |
S. 23F .................. | ad. No. 110, 1964 | |
| rs. No. 103, 1965 | |
| am. No. 51, 1973; No. 108, 1981; No. 47, 1984 | |
| rep. No. 138, 1987 | |
Ss. 23FA, 23FB ........... | ad. No. 47, 1984 | |
| rep. No. 138, 1987 | |
Ss. 23FC, 23FD ........... | ad. No. 138, 1987 | |
| rep. No. 97, 1989 | |
S. 23M ................. | ad. No. 11, 1989 | |
| rep. No. 223, 1992 | |
S. 24 ................... | rep. No. 121, 1997 | |
S. 24AA ................ | ad. No. 52, 1973 | |
| rs. No. 205, 1976 | |
| am. No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 24A .................. | ad. No. 12, 1959 | |
| rs. No. 110, 1964 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 76, 1984 | |
S. 24ABDAA ............. | ad. No. 191, 1992 | |
| rep. No. 120, 1995 | |
S. 24ABDA .............. | ad. No. 216, 1991 | |
| rep. No. 169, 1995 | |
S. 24ABK ............... | ad. No. 100, 1991 | |
| rep. No. 69, 1992 | |
S. 24ABL ................ | ad. No. 100, 1991 | |
| rs. No. 216, 1991 | |
| am. No. 69, 1992; Nos. 56 and 174, 1994 | |
| rep. No. 1, 1996 | |
S. 24ABRA .............. | ad. No. 191, 1992 | |
| rep. No. 120, 1995 | |
S. 24ABX ............... | ad. No. 100, 1991 | |
| am. No. 216, 1991 | |
| rep. No. 69, 1992 | |
S. 24ACX ............... | ad. No. 100, 1991 | |
| am. No. 191, 1992 | |
| rep. No. 146, 1995 | |
Ss. 24AD, 24ADA ......... | ad. No. 100, 1991 | |
| rep. No. 146, 1995 | |
S. 26AAAA .............. | ad. No. 19, 1980 | |
| am. No. 108, 1981 | |
| rep. No. 41, 1986 | |
S. 26AAAB .............. | ad. No. 175, 1981 | |
| rep. No. 41, 1986 | |
S. 26AAA ............... | ad. No. 165, 1973 | |
| am. No. 57, 1978; No. 108, 1981; No. 29, 1982; No. 95, 1988 | |
| rep. No. 138, 1994 | |
S. 26AAB ............... | ad. No. 126, 1974 | |
| rep. No. 80, 1975 | |
S. 26AA ................ | ad. No. 43, 1954 | |
| am. No. 126, 1977; No. 108, 1981 | |
| rep. No. 47, 1984 | |
S. 26AE ................ | ad. No. 124, 1980 | |
| am. No. 108, 1981 | |
| rep. No. 47, 1984 | |
S. 30 ................... | rep. No. 44, 1951 | |
S. 31A .................. | ad. No. 28, 1953 | |
| am. No. 51, 1973 | |
| rep. No. 165, 1973 | |
S. 31B .................. | ad. No. 50, 1976 | |
| am. No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 35 ................... | rep. No. 44, 1951 | |
S. 44A .................. | ad. No. 103, 1965 | |
| am. Nos. 51 and 164, 1973 | |
| rep. No. 80, 1975 | |
S. 45 ................... | rep. No. 58, 1941 | |
| ad. No. 11, 1947 | |
| am. No. 44, 1948; No. 44, 1951; No. 81, 1953; No. 18, 1960; No. 85, 1967; No. 4, 1968; Nos. 51 and 164, 1973; No. 80, 1975; No. 108, 1981 | |
| rep. No. 51, 1986 | |
S. 46C ................. | ad. No. 106, 1982 | |
| rep. No. 103, 1983 | |
S. 50M ................. | ad. No. 172, 1978 | |
| rep. No. 107, 1989 | |
Heading to Div. 3 of Part III ... | rep. No. 172, 1978 | |
S. 51AA ................ | ad. No. 108, 1960 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 51AB ................ | ad. No. 108, 1960 | |
| am. No. 85, 1967 | |
| rep. No. 87, 1970 | |
S. 51AC ................ | ad. No. 27, 1961 | |
| am. No. 34, 1963; No. 50, 1966; No. 51, 1973; No. 126, 1974; No. 117, 1975; Nos. 108 and 111, 1981 | |
| rep. No. 107, 1989 | |
S. 51AGB ............... | ad. No. 57, 1993 | |
| am. No. 145, 1995 | |
| rep. No. 16, 1999 | |
S. 51A .................. | ad. No. 4, 1945 | |
| am. No. 63, 1947; No. 44, 1948; No. 44, 1951; No. 108, 1960; No. 94, 1961; No. 143, 1965; No. 51, 1973; No. 108, 1981; No. 29, 1982 | |
| rep. No. 41, 1986 | |
Ss. 53A–53E ............. | ad. No. 28, 1944 | |
| am. No. 51, 1973 | |
| rep. No. 216, 1973 (as am. by No. 20, 1974) | |
S. 53H ................. | ad. No. 57, 1980 | |
| am. Nos. 108 and 109, 1981; No. 25, 1983 | |
| rep. No. 107, 1989 | |
S. 56A .................. | ad. No. 65, 1957 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 95, 1988 | |
S. 57 ................... | am. No. 65, 1957; No. 51, 1973; No. 108, 1981 | |
| rep. No. 95, 1988 | |
S. 57AA ................ | ad. No. 28, 1952 | |
| am. No. 62, 1955; No. 25, 1956; No. 65, 1957; No. 55, 1958; No. 58, 1960; No. 39, 1962; No. 69, 1963; No. 143, 1965; No. 76, 1967; Nos. 51 and 165, 1973; No. 108, 1981; No. 95, 1988 | |
| rep. No. 107, 1989 | |
S. 57AB ................ | ad. No. 90, 1952 | |
| am. No. 65, 1957; Nos. 51 and 165, 1973; No. 216, 1973 (as am. by No. 20, 1974); No. 108, 1981; No. 95, 1988 | |
| rep. No. 107, 1989 | |
S. 57AC ................ | ad. No. 80, 1975 | |
| am. No. 108, 1981; No. 95, 1988 | |
| rep. No. 107, 1989 | |
S. 57AD ................ | ad. No. 117, 1975 | |
| am. No. 50, 1976; No. 108, 1981; No. 95, 1988 | |
| rep. No. 107, 1989 | |
S. 57AE ................ | ad. No. 149, 1979 | |
| am. No. 108, 1981; Nos. 14 and 25, 1983 | |
| rep. No. 95, 1988 | |
S. 57AG ................ | ad. No. 124, 1980 | |
| am. No. 159, 1980; Nos. 108 and 109, 1981; No. 29, 1982; No. 14, 1983; No. 14, 1984; No. 95, 1988; No. 107, 1989 | |
| rep. No. 35, 1992 | |
S. 57AH ................ | ad. No. 159, 1980 | |
| am. No. 108, 1981; Nos. 14 and 25, 1983 | |
| rep. No. 95, 1988 | |
S. 57AJ ................. | ad. No. 108, 1981 | |
| am. No. 25, 1983; No. 95, 1988 | |
| rep. No. 107, 1989 | |
S. 57AL ................. | ad. No. 14, 1983 | |
| rep. No. 95, 1988 | |
S. 57A .................. | ad. No. 6, 1946 | |
| am. No. 66, 1949 | |
| rep. No. 28, 1952 | |
S. 58 ................... | rep. No. 65, 1957 | |
| ad. No. 69, 1963 | |
| am. Nos. 51 and 164, 1973; No. 108, 1981; No. 95, 1988 | |
| rep. No. 107, 1989 | |
Ss. 59A–59C ............. | ad. No. 50, 1942 | |
| rep. No. 65, 1957 | |
S. 59D ................. | ad. No. 50, 1942 | |
| am. No. 45, 1953 | |
| rep. No. 65, 1957 | |
S. 59E .................. | ad. No. 50, 1942 | |
| rep. No. 65, 1957 | |
S. 62AA ................ | ad. No. 39, 1962 | |
| am. No. 69, 1963; No. 60, 1968; No. 6, 1971; No. 5, 1972; Nos. 51 and 165, 1973; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 62AB ................ | ad. No. 69, 1963 | |
| am. Nos. 51 and 165, 1973; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 62A .................. | ad. No. 46, 1938 | |
| am. No. 57, 1978; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 66 ................... | am. No. 58, 1941 | |
| rs. No. 3, 1944 | |
| am. No. 90, 1952 | |
| rep. No. 110, 1964 | |
S. 69 ................... | rep. No. 101, 1956 | |
S. 70 ................... | rep. No. 101, 1956 | |
S. 72A .................. | ad. No. 50, 1942 | |
| am. No. 4, 1945 | |
| rep. No. 11, 1947 | |
S. 72B .................. | ad. No. 50, 1942 | |
| am. No. 10, 1943; No. 28, 1944 | |
| rep. No. 85, 1959 | |
S. 75 ................... | am. No. 11, 1947; No. 55, 1958; No. 18, 1960; No. 94, 1961; No. 50, 1966; No. 76, 1967; No. 93, 1969; Nos. 164 and 165, 1973; No. 216, 1973 (as am. by No. 20, 1974); No. 80, 1975; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 75C ................. | ad. No. 124, 1980 | |
| am. No. 108, 1981; No. 124, 1984 | |
| rep. No. 107, 1989 | |
S. 76 ................... | am. No. 69, 1963; No. 165, 1973 | |
| rep. No. 107, 1989 | |
S. 77 ................... | am. No. 18, 1960; No. 164, 1973; No. 80, 1975; No. 108, 1981; No. 103, 1983 | |
| rep. No. 107, 1989 | |
S. 77A .................. | ad. No. 55, 1958 | |
| rs. No. 70, 1959 | |
| am. No. 18, 1960; No. 94, 1961; No. 69, 1963; No. 46, 1964; No. 38, 1967; No. 60, 1968 | |
| rep. No. 93, 1969 | |
S. 77AA ................ | ad. No. 39, 1962 | |
| am. No. 46, 1964; No. 38, 1967; No. 60, 1968 | |
| rep. No. 93, 1969 | |
S. 77B .................. | ad. No. 94, 1961 | |
| am. No. 60, 1968; No. 51, 1973; No. 108, 1981; No. 168, 1985 | |
| rep. No. 107, 1989 | |
S. 77C ................. | ad. No. 60, 1968 | |
| am. No. 93, 1969; Nos. 51, 52 and 164, 1973; No. 216, 1973 (as am. by No. 20, 1974); No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 77D ................. | ad. No. 93, 1969 | |
| am. Nos. 51, 52 and 164, 1973; No. 216, 1973 (as am. by No. 20, 1974); No. 126, 1974; No. 108, 1981 (as am. by No. 29, 1982); No. 168, 1985; No. 108, 1987 | |
| rep. No. 107, 1989 | |
S. 77E .................. | ad. No. 52, 1973 | |
| am. No. 164, 1973; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 79 ................... | am. No. 46, 1938; No. 65, 1940; No. 58, 1941 | |
| rep. No. 22, 1942 | |
| ad. No. 3, 1944 | |
| am. No. 90, 1952; No. 18, 1960; No. 94, 1961 | |
| rs. No. 110, 1964; No. 103, 1965 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 47, 1984 | |
Ss. 80C, 80D ............. | ad. No. 110, 1964 | |
| rs. No. 103, 1965 | |
| am. No. 50, 1966 | |
| rep. No. 51, 1973 | |
S. 81 ................... | am. No. 88, 1936; Nos. 17 and 65, 1940 | |
| rep. No. 22, 1942 | |
| ad. No. 50, 1942 | |
| rs. No. 10, 1943 | |
| am. No. 3, 1944; No. 6, 1946 | |
| rep. No. 63, 1947 | |
S. 81A .................. | ad. No. 4, 1952 | |
| rep. No. 30, 1956 | |
Subdiv. B of Div. 3 | ad. No. 48, 1950 | |
Subdiv. B of Div. 3 | rep. No. 117, 1975 | |
S. 82A .................. | ad. No. 48, 1950 | |
| rep. No. 117, 1975 | |
S. 82AAB ............... | ad. No. 110, 1964 | |
| rep. No. 97, 1989 | |
S. 82AAD ............... | ad. No. 110, 1964 | |
| am. No. 108, 1981 | |
| rep. No. 97, 1989 | |
S. 82AAE ............... | ad. No. 110, 1964 | |
| am. No. 143, 1965; No. 108, 1981 | |
| rep. No. 97, 1989 | |
S. 82AAF ............... | ad. No. 110, 1964 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 97, 1989 | |
S. 82AAG ............... | ad. No. 110, 1964 | |
| rs. No. 103, 1965 | |
| am. No. 51, 1973; No. 108, 1981 (as am. by No. 29, 1982) | |
| rep. No. 97, 1989 | |
Ss. 82AAH–82AAJ ......... | ad. No. 110, 1964 | |
| rs. No. 103, 1965 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 97, 1989 | |
S. 82AAK ............... | ad. No. 110, 1964 | |
| rs. No. 103, 1965 | |
| am. No. 108, 1981 | |
| rep. No. 97, 1989 | |
S. 82AAL ................ | ad. No. 110, 1964 | |
| rs. No. 103, 1965 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 97, 1989 | |
S. 82AAM ............... | ad. No. 110, 1964 | |
| rep. No. 97, 1989 | |
S. 82AAN ............... | ad. No. 110, 1964 | |
| am. No. 103, 1965; No. 51, 1973 | |
| rep. No. 97, 1989 | |
S. 82AAO ............... | ad. No. 110, 1964 | |
| rep. No. 103, 1965 | |
S. 82AAP ............... | ad. No. 110, 1964 | |
| am. No. 103, 1965; No. 51, 1973 | |
| rep. No. 97, 1989 | |
S. 82AA ................ | ad. No. 18, 1960 | |
| am. No. 87, 1968 | |
| rs. No. 164, 1973 | |
| rep. No. 80, 1975 | |
S. 82AP ................ | ad. No. 50, 1976 | |
| rep. No. 98, 1992 | |
S. 82AW ................ | ad. No. 18, 1993 | |
| rep. No. 82, 1994 | |
Subdiv. BA of Div. 3 | ad. No. 57, 1977 | |
S. 82B .................. | ad. No. 48, 1950 | |
| am. No. 45, 1953; No. 65, 1957; No. 69, 1963; No. 143, 1965; No. 76, 1967; No. 93, 1971; No. 85, 1972; Nos. 51 and 52, 1973; No. 126, 1974 | |
| rep. No. 117, 1975 | |
| ad. No. 57, 1977 | |
| rep. No. 107, 1989 | |
S. 82C ................. | ad. No. 48, 1950 | |
| am. No. 45, 1953; No. 65, 1957 | |
| rep. No. 69, 1963 | |
| ad. No. 57, 1977 | |
| am. No. 43, 1979 | |
| rep. No. 107, 1989 | |
S. 82D ................. | ad. No. 48, 1950 | |
| am. No. 45, 1953; No. 65, 1957; No. 18, 1960; No. 69, 1963; No. 143, 1965; No. 76, 1967; No. 87, 1968; No. 85, 1972; Nos. 51 and 164, 1973; No. 80, 1975 | |
| rep. No. 117, 1975 | |
| ad. No. 57, 1977 | |
| am. No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 82E .................. | ad. No. 48, 1950 | |
| am. No. 69, 1963; No. 51, 1973 | |
| rep. No. 117, 1975 | |
Subdiv. BB of Div. 3 | ad. No. 57, 1980 | |
S. 82EA ................ | ad. No. 57, 1980 | |
| rep. No. 107, 1989 | |
S. 82EB ................ | ad. No. 57, 1980 | |
| am. No. 108, 1981; No. 25, 1983 | |
| rep. No. 107, 1989 | |
S. 82EC ................ | ad. No. 57, 1980 | |
| am. No. 111, 1981 | |
| rep. No. 107, 1989 | |
S. 82ED ................ | ad. No. 57, 1980 | |
| rep. No. 107, 1989 | |
S. 82EE ................ | ad. No. 57, 1980 | |
| am. No. 108, 1981 | |
| rep. No. 107, 1989 | |
Ss. 82EF, 82EG ........... | ad. No. 57, 1980 | |
| rep. No. 107, 1989 | |
Ss. 82EH, 82EJ ........... | ad. No. 57, 1980 | |
| am. No. 108, 1981 | |
| rep. No. 107, 1989 | |
Ss. 82EK, 82EL ........... | ad. No. 57, 1980 | |
| rep. No. 107, 1989 | |
S. 82EM ................ | ad. No. 57, 1980 | |
| am. No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 82F .................. | ad. No. 48, 1950 | |
| am. No. 45, 1953; No. 70, 1959; No. 94, 1961 | |
| rs. No. 69, 1963 | |
| am. Nos. 51 and 52, 1973; No. 216, 1973 (as am. by No. 20, 1974) | |
| rep. No. 117, 1975 | |
S. 82G ................. | ad. No. 48, 1950 | |
| am. No. 69, 1963; No. 143, 1965 | |
| rep. No. 117, 1975 | |
S. 82H ................. | ad. No. 48, 1950 | |
| am. No. 101, 1956; No. 70, 1959; No. 143, 1965; No. 76, 1967; No. 51, 1973; No. 26, 1974 | |
| rep. No. 117, 1975 | |
S. 82HA ................ | ad. No. 101, 1956 | |
| rep. No. 117, 1975 | |
S. 82J .................. | ad. No. 90, 1952 | |
| rs. No. 45, 1953 | |
| am. No. 101, 1956; No. 69, 1963 | |
| rs. No. 33, 1965 | |
| am. No. 143, 1965; No. 93, 1971; Nos. 51 and 52, 1973; No. 126, 1974 | |
| rep. No. 117, 1975 | |
S. 82JAA ................ | ad. No. 85, 1972 | |
| am. No. 51, 1973; No. 126, 1974 | |
| rep. No. 117, 1975 | |
S. 82JA ................. | ad. No. 93, 1971 | |
| am. No. 216, 1973 (as am. by No. 20, 1974) | |
| rep. No. 117, 1975 | |
S. 82K .................. | ad. No. 69, 1963 | |
| am. No. 93, 1971; No. 85, 1972; No. 51, 1973 | |
| rep. No. 117, 1975 | |
Subdiv. C of Div. 3 | ad. No. 126, 1974 rep. No. 107, 1989 | |
S. 82KA ................ | ad. No. 126, 1974 | |
| am. No. 108, 1981; No. 106, 1982; No. 123, 1984; No. 41, 1986 | |
| rep. No. 107, 1989 | |
S. 82KB ................ | ad. No. 126, 1974 | |
| am. No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 82KBA ............... | ad. No. 50, 1976 | |
| rep. No. 107, 1989 | |
S. 82KBB ............... | ad. No. 123, 1978 | |
| rep. No. 107, 1989 | |
S. 82KC ................ | ad. No. 126, 1974 | |
| rep. No. 107, 1989 | |
S. 82KD ................ | ad. No. 126, 1974 | |
| am. No. 108, 1981 | |
| rep. No. 107, 1989 | |
Ss. 82KE–82KG .......... | ad. No. 126, 1974 | |
| rep. No. 107, 1989 | |
Subdiv. E of Div. 3 | ad. No. 108, 1981 rep. No. 107, 1989 | |
S. 82KM ................ | ad. No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 82KN ................ | ad. No. 108, 1981 | |
| am. No. 103, 1983 | |
| rep. No. 107, 1989 | |
Ss. 82KO–82KS .......... | ad. No. 108, 1981 | |
| rep. No. 107, 1989 | |
|
| |
Note 3 to s. 82KZME(1) ..... | rep. No. 90, 2000 | |
Div. 4A of Part III | ad. No. 145, 1995 | |
Subdiv. A of Div. 4A | ad. No. 145, 1995 | |
Ss. 89A, 89AA–89AC ....... | ad. No. 145, 1995 | |
| rep. No. 16, 1999 | |
Subdiv. B of Div. 4A of | ad. No. 145, 1995 | |
S. 89B .................. | ad. No. 145, 1995 | |
| rep. No. 16, 1999 | |
Subdiv. C of Div. 4A of | ad. No. 145, 1995 | |
Ss. 89C, 89CA ............ | ad. No. 145, 1995 | |
| rep. No. 16, 1999 | |
Subdiv. D of Div. 4A of | ad. No. 145, 1995 | |
Ss. 89D, 89DA, 89DB ....... | ad. No. 145, 1995 | |
| rep. No. 16, 1999 | |
Subdiv. E of Div. 4A of | ad. No. 145, 1995 | |
Ss. 89E, 89EA, 89EB ....... | ad. No. 145, 1995 | |
| rep. No. 16, 1999 | |
Subdiv. F of Div. 4A of | ad. No. 145, 1995 | |
S. 89F .................. | ad. No. 145, 1995 | |
| rep. No. 16, 1999 | |
S. 89FA ................. | ad. No. 145, 1995 | |
| am. No. 41, 1998 | |
| rep. No. 16, 1999 | |
Heading to s. 89FB(2) ...... | am. No. 41, 1998 | |
| rep. No. 16, 1999 | |
Ss. 89FB, 89FC ........... | ad. No. 145, 1995 | |
| am. No. 41, 1998 | |
| rep. No. 16, 1999 | |
S. 89FD ................ | ad. No. 145, 1995 | |
| rep. No. 16, 1999 | |
Subdiv. G of Div. 4A of | ad. No. 145, 1995 | |
Ss. 89G, 89GA–89GH ...... | ad. No. 145, 1995 | |
| rep. No. 16, 1999 | |
Subdiv. H of Div. 4A of | ad. No. 145, 1995 rep. No. 16, 1999 | |
Ss. 89H, 89HA ............ | ad. No. 145, 1995 | |
| rep. No. 16, 1999 | |
Subdiv. J of Div. 4A of | ad. No. 145, 1995 | |
Ss. 89J, 89JA–89JC ........ | ad. No. 145, 1995 | |
| rep. No. 16, 1999 | |
S. 93A .................. | ad. No. 22, 1942 | |
| rep. No. 48, 1950 | |
S. 95A .................. | ad. No. 11, 1947 | |
| rep. No. 45, 1953 | |
| ad. No. 126, 1974 | |
| rep. No. 117, 1975 | |
S. 100A ................. | ad. No. 22, 1942 | |
| rs. No. 11, 1947 | |
| rep. No. 48, 1950 | |
S. 102AA ................ | ad. No. 50, 1942 | |
| am. No. 4, 1945 | |
| rep. No. 85, 1959 | |
Div. 6A of Part III | ad. No. 58, 1941 rep. No. 48, 1950 | |
Ss. 102A, 102B ........... | ad. No. 58, 1941 | |
| rep. No. 48, 1950 | |
Div. 7 of Part III | rep. No. 90, 1952 | |
S. 103.................. | rep. No. 90, 1952 | |
S. 103A ................. | ad. No. 44, 1951 | |
| rep. No. 90, 1952 | |
Ss. 103B–103D ........... | ad. No. 44, 1951 | |
| rep. No. 90, 1952 | |
S. 104.................. | rep. No. 90, 1952 | |
S. 105 .................. | am. No. 44, 1948; No. 48, 1950 | |
| rs. No. 90, 1952 | |
| am. No. 85, 1959 | |
| rep. No. 110, 1964 | |
S. 106.................. | rep. No. 90, 1952 | |
Ss. 106A–106D ........... | ad. No. 51, 1973 | |
| rep. No. 205, 1976 | |
Ss. 107–109.............. | rep. No. 90, 1952 | |
S. 109A ................. | ad. No. 58, 1941 | |
| am. No. 3, 1944 | |
| rep. No. 90, 1952 | |
Heading to Subdiv. A of | ad. No. 216, 1991 | |
S. 110 .................. | am. No. 22, 1942; No. 17, 1961; No. 110, 1964; No. 51, 1973; No. 216, 1973 (as am. by No. 20, 1974); No. 108, 1981; No. 47, 1984; No. 49, 1985; No. 138, 1987; No. 11, 1988; No. 97, 1989 (as am. by No. 105, 1989); No. 105, 1989; Nos. 20 and 57, 1990; No. 5, 1991; No. 80, 1992; No. 208, 1992 (as am. by No. 7, 1993); Nos. 7, 17 and 82, 1993; No. 5, 1995; Nos. 39, 62 and 121, 1997; No. 46, 1998; Nos. 16 and 44, 1999; No. 89, 2000 | |
| rep. No. 89, 2000 | |
S. 110A ................. | ad. No. 17, 1961 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 49, 1985 | |
| ad. No. 89, 2000 | |
| rep. No. 89, 2000 | |
Ss. 110B, 110C ........... | ad. No. 105, 1989 | |
| rep. No. 89, 2000 | |
S. 110CA ............... | ad. No. 82, 1994 | |
| rep. No. 89, 2000 | |
S. 111 .................. | rs. No. 47, 1984 | |
| am. No. 62, 1987; No. 105, 1989; No. 62, 1997 | |
| rep. No. 89, 2000 | |
S. 111A ................. | ad. No. 105, 1989 | |
| am. No. 5, 1991; No. 56, 1994 | |
| rep. No. 56, 1994 | |
S. 111AA ................ | ad. No. 20, 1990 | |
| am. No. 5, 1991; No. 56, 1994 | |
| rep. No. 56, 1994 | |
S. 111AB ................ | ad. No. 56, 1994 | |
| rep. No. 89, 2000 | |
Heading to s. 111AC........ | am. No. 62, 1997 | |
| rep. No. 89, 2000 | |
S. 111AC ............... | ad. No. 56, 1994 | |
| am. Nos. 39 and 62, 1997 | |
| rep. No. 89, 2000 | |
S. 111AD ............... | ad. No. 56, 1994 | |
| am. Nos. 39 and 62, 1997 | |
| rep. No. 89, 2000 | |
S. 111B ................. | ad. No. 105, 1989 | |
| am. Nos. 39 and 121, 1997 | |
| rep. No. 89, 2000 | |
S. 111C ................. | ad. No. 105, 1989 | |
| am. No. 118, 1993; No. 56, 1994; Nos. 39 and 62, 1997 | |
| rep. No. 89, 2000 | |
S. 111D ................. | ad. No. 105, 1989 | |
| rep. No. 89, 2000 | |
S. 111E ................. | ad. No. 105, 1989 | |
| am. No. 121, 1997 | |
| rep. No. 89, 2000 | |
S. 112 .................. | am. No. 47, 1984 | |
| rs. No. 105, 1989 (as am. by No. 56, 1994) | |
| am. No. 20, 1990; No. 56, 1994 | |
| rs. No. 56, 1994 | |
| am. No. 62, 1997 | |
| rep. No. 89, 2000 | |
S. 112A ................. | ad. No. 17, 1961 | |
| am. No. 51, 1973; No. 108, 1981; No. 47, 1984; No. 49, 1985; No. 52, 1986; No. 105, 1989; No. 5, 1991; No. 80, 1992; No. 62, 1997; No. 16, 1999 | |
| rep. No. 89, 2000 | |
S. 112BA ................ | ad. No. 56, 1994 | |
| rep. No. 89, 2000 | |
S. 112B ................. | ad. No. 51, 1986 | |
| rep. No. 5, 1991 | |
S. 112C ................. | ad. No. 80, 1992 | |
| am. No. 16, 1999 | |
| rep. No. 89, 2000 | |
S. 113 .................. | rs. No. 17, 1961 | |
| am. No. 216, 1973 (as am. by No. 20, 1974); No. 108, 1981; No. 105, 1989; No. 216, 1991; No. 118, 1993; No. 56, 1994; Nos. 39 and 62, 1997 | |
| rep. No. 89, 2000 | |
S. 113A ................. | ad. No. 56, 1994 | |
| am. No. 62, 1997 | |
| rep. No. 89, 2000 | |
S. 114 .................. | am. No. 108, 1981; No. 16, 1999 | |
| rep. No. 89, 2000 | |
Ss. 114A, 114B ........... | ad. No. 16, 1999 | |
| rep. No. 89, 2000 | |
S. 115 .................. | am. No. 22, 1942 | |
| rs. No. 17, 1961 | |
| am. Nos. 51 and 165, 1973; No. 216, 1973 (as am. by No. 20, 1974); No. 126, 1974; No. 108, 1981; No. 47, 1984 | |
| rs. No. 49, 1985 | |
| am. No. 51, 1986 | |
| rep. No. 97, 1989 | |
S. 115A ................. | ad. No. 17, 1961 | |
| am. No. 51, 1973; No. 216, 1973 (as am. by No. 20, 1974); No. 108, 1981; No. 47, 1984 | |
| rep. No. 49, 1985 | |
S. 116 .................. | am. No. 47, 1984 | |
| rep. No. 97, 1989 | |
S. 116AA ................ | ad. No. 165, 1973 | |
| am. No. 108, 1981; No. 51, 1986 | |
| rep. No. 62, 1987 | |
S. 116A ................. | ad. No. 17, 1961 | |
| am. No. 47, 1972; No. 51, 1973; No. 108, 1981 | |
| rep. No. 49, 1985 | |
Ss. 116B, 116C ........... | ad. No. 17, 1961 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 49, 1985 | |
S. 116CA ............... | ad. No. 105, 1989 | |
| am. No. 62, 1997 | |
| rep. No. 89, 2000 | |
Heading to s. 116CB ....... | rs. No. 46, 1998 | |
| rep. No. 89, 2000 | |
S. 116CB ............... | ad. No. 105, 1989 | |
| am. No. 5, 1991; No. 46, 1998; No. 16, 1999; No. 89, 2000 | |
| rep. No. 89, 2000 | |
Heading to s. 116CC ....... | rs. No. 46, 1998 | |
| rep. No. 89, 2000 | |
S. 116CC ............... | ad. No. 105, 1989 | |
| am. No. 62, 1997; No. 46, 1998 | |
| rep. No. 89, 2000 | |
Heading to s. 116CD ....... | rs. No. 46, 1998 | |
| rep. No. 89, 2000 | |
S. 116CD ............... | ad. No. 105, 1989 | |
| am. No. 62, 1997; No. 46, 1998; No. 89, 2000 | |
| rep. No. 89, 2000 | |
S. 116CE ............... | ad. No. 105, 1989 | |
| am. No. 5, 1991; Nos. 62 and 121, 1997; No. 46, 1998; No. 16, 1999 | |
| rep. No. 89, 2000 | |
S. 116CF ................ | ad. No. 105, 1989 | |
| am. No. 118, 1993; No. 56, 1994; No. 62, 1997; No. 46, 1998 | |
| rep. No. 89, 2000 | |
S. 116CG ............... | ad. No. 105, 1989 | |
| rep. No. 89, 2000 | |
S. 116CH ............... | ad. No. 105, 1989 | |
| am. Nos. 39 and 62, 1997 | |
| rep. No. 89, 2000 | |
S. 116CJ ................ | ad. No. 105, 1989 | |
| rep. No. 89, 2000 | |
S. 116D ................. | ad. No. 17, 1961 | |
| am. No. 108, 1981; No. 101, 1992 | |
| rep. No. 89, 2000 | |
Subdiv. AA of Div. 8 of | ad. No. 62, 1997 | |
S. 116DAA............... | ad. No. 62, 1997 | |
| rep. No. 89, 2000 | |
Note to s. 116DAA ......... | rep. No. 44, 1999 | |
Notes 1, 2 to s. 116DAA ..... | ad. No. 44, 1999 | |
| rep. No. 89, 2000 | |
Heading to s. 116DAB ...... | rs. No. 44, 1999 | |
| rep. No. 89, 2000 | |
Ss. 116DAB–116DAD, | ad. No. 62, 1997 | |
Subdiv. B of Div. 8 | ad. No. 216, 1991 | |
Ss. 116DA, 116DB ......... | ad. No. 216, 1991 | |
| rep. No. 89, 2000 | |
Heading to s. 116DC........ | am. No. 62, 1997 | |
| rep. No. 89, 2000 | |
S. 116DC ............... | ad. No. 216, 1991 | |
| am. No. 62, 1997 | |
| rep. No. 89, 2000 | |
S. 116DD ............... | ad. No. 216, 1991 | |
| rep. No. 89, 2000 | |
Heading to s. 116DE........ | am. No. 62, 1997 | |
| rep. No. 89, 2000 | |
S. 116DE ............... | ad. No. 216, 1991 | |
| am. No. 62, 1997 | |
| rep. No. 89, 2000 | |
S. 116DF ................ | ad. No. 216, 1991 | |
| am. No. 62, 1997 | |
| rep. No. 89, 2000 | |
Ss. 116DG–116DJ ......... | ad. No. 216, 1991 | |
| rep. No. 89, 2000 | |
S. 116DK ............... | ad. No. 216, 1991 | |
| am. No. 46, 1998 | |
| rep. No. 89, 2000 | |
Div. 8A of Part III | ad. No. 47, 1984 | |
Heading to Subdiv. A of Div. 8A of Part III | ad. No. 44, 1999 | |
S. 116E ................. | ad. No. 47, 1984 | |
| am. Nos. 11 and 87, 1988; No. 105, 1989; No. 57, 1990; Nos. 7, 17, 55 and 82, 1993; No. 120, 1995; No. 60, 1996; Nos. 39 and 121, 1997; No. 46, 1998; No. 44, 1999; No. 89, 2000 | |
| rep. No. 89, 2000 | |
S. 116F ................. | ad. No. 47, 1984 | |
| rep. No. 89, 2000 | |
Ss. 116FA, 116FB ......... | ad. No. 105, 1989 | |
| rep. No. 89, 2000 | |
S. 116FC ................ | ad. No. 82, 1994 | |
| rep. No. 89, 2000 | |
S. 116G ................ | ad. No. 47, 1984 | |
| am. No. 11, 1988 | |
| rs. No. 105, 1989 | |
| am. No. 44, 1999 | |
| rep. No. 89, 2000 | |
Heading to s. 116GA ....... | rs. No. 46, 1998 | |
| rep. No. 89, 2000 | |
S. 116GA ............... | ad. No. 105, 1989 | |
| am. No. 120, 1995; No. 46, 1998; No. 44, 1999; No. 89, 2000 | |
| rep. No. 89, 2000 | |
Heading to s. 116GB ....... | rs. No. 46, 1998 | |
| rep. No. 89, 2000 | |
S. 116GB ............... | ad. No. 105, 1989 | |
| am. No. 46, 1998; No. 44, 1999; No. 89, 2000 | |
| rep. No. 89, 2000 | |
S. 116GC ............... | ad. No. 105, 1989 | |
| am. Nos. 39 and 121, 1997 | |
| rep. No. 89, 2000 | |
S. 116GD ............... | ad. No. 105, 1989 | |
| am. No. 44, 1999 | |
| rep. No. 89, 2000 | |
S. 116GE ............... | ad. No. 56, 1994 | |
| rep. No. 89, 2000 | |
S. 116H ................. | ad. No. 47, 1984 | |
| am. No. 56, 1994; No. 44, 1999 | |
| rep. No. 89, 2000 | |
S. 116HA ............... | ad. No. 105, 1989 | |
| am. No. 56, 1994 | |
| rep. No. 56, 1994 | |
S. 116HAA .............. | ad. No. 55, 1993 | |
| rep. No. 56, 1994 | |
Ss. 116HAB, 116HAC ...... | ad. No. 56, 1994 | |
| am. No. 39, 1997; No. 44, 1999 | |
| rep. No. 89, 2000 | |
S. 116HAD .............. | ad. No. 56, 1994 | |
| rep. No. 89, 2000 | |
S. 116HB ............... | ad. No. 105, 1989 | |
| am. No. 46, 1998 | |
| rep. No. 89, 2000 | |
S. 116HC ............... | ad. No. 105, 1989 | |
| rep. No. 89, 2000 | |
S. 116HD ............... | ad. No. 105, 1989 | |
| am. No. 39, 1997; No. 44, 1999 | |
| rep. No. 89, 2000 | |
S. 116HE ............... | ad. No. 105, 1989 | |
| rep. No. 89, 2000 | |
S. 116J ................. | ad. No. 47, 1984 | |
| am. No. 35, 1992 | |
| rep. No. 89, 2000 | |
Subdiv. B of Div. 8A | ad. No. 44, 1999 | |
Ss. 116K–116Q........... | ad. No. 44, 1999 | |
| rep. No. 89, 2000 | |
Div. 9A of Part III | ad. No. 63, 1947 rep. No. 62, 1955 | |
Div. 9A of Part III | ad. No. 62, 1955 | |
Div. 9A of Part III (s. 121A) ... | rep. No. 154, 1981 | |
S. 121A ................. | ad. No. 63, 1947 | |
| rs. No. 62, 1955 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 154, 1981 | |
S. 121B ................. | ad. No. 63, 1947 | |
| rs. No. 62, 1955 | |
| rep. No. 65, 1957 | |
S. 121C ................ | ad. No. 63, 1947 | |
| rep. No. 62, 1955 | |
Heading to Div. 9B of Part III .. | am. No. 47, 1984 rep. No. 97, 1989 | |
Div. 9B of Part III | ad. No. 17, 1961 | |
Div. 9B of Part III | rep. No. 97, 1989 | |
S. 121B ................. | ad. No. 17, 1961 | |
| rs. No. 110, 1964 | |
| am. No. 51, 1973; No. 108, 1981; No. 47, 1984; Nos. 49 and 123, 1985; No. 138, 1987 | |
| rep. No. 97, 1989 | |
S. 121BA ................ | ad. No. 110, 1964 | |
| am. No. 103, 1965; No. 51, 1973; No. 108, 1981 | |
| rep. No. 47, 1984 | |
| ad. No. 138, 1987 | |
| rep. No. 97, 1989 | |
S. 121C ................. | ad. No. 17, 1961 | |
| am. No. 110, 1964; No. 51, 1973; No. 108, 1981; No. 54, 1983 | |
| rep. No. 49, 1985 | |
| ad. No. 123, 1985 | |
| rep. No. 138, 1987 | |
S. 121CA ............... | ad. No. 110, 1964 | |
| am. No. 51, 1973; Nos. 49 and 123, 1985 | |
| rep. No. 138, 1987 | |
S. 121CB ............... | ad. No. 110, 1964 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rs. No. 47, 1984 | |
| am. No. 123, 1985 | |
| rep. No. 138, 1987 | |
S. 121CC ............... | ad. No. 123, 1985 | |
| rs. No. 138, 1987 | |
| rep. No. 97, 1989 | |
S. 121D ................. | ad. No. 17, 1961 | |
| rs. No. 110, 1964 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 49, 1985 | |
| ad. No. 138, 1987 | |
| rep. No. 97, 1989 | |
S. 121DA ............... | ad. No. 110, 1964 | |
| am. No. 108, 1981; No. 47, 1984; Nos. 49 and 123, 1985; No. 138, 1987 | |
| rep. No. 97, 1989 | |
S. 121DAA .............. | ad. No. 47, 1984 | |
| am. No. 138, 1987 | |
| rep. No. 97, 1989 | |
S. 121DAAA ............. | ad. No. 138, 1987 | |
| rep. No. 97, 1989 | |
S. 121DAB .............. | ad. No. 47, 1984 | |
| am. Nos. 49 and 123, 1985 | |
| rs. No. 138, 1987 | |
| rep. No. 97, 1989 | |
S. 121DB ............... | ad. No. 110, 1964 | |
| am. No. 51, 1973; No. 47, 1984; No. 138, 1987 | |
| rep. No. 97, 1989 | |
S. 121DC ............... | ad. No. 110, 1964 | |
| am. No. 51, 1973; No. 47, 1984 | |
| rs. No. 138, 1987 | |
| rep. No. 97, 1989 | |
S. 121DD ............... | ad. No. 110, 1964 | |
| am. No. 103, 1965; No. 47, 1972; No. 51, 1973; No. 126, 1977; No. 106, 1982 | |
| rs. No. 47, 1984 | |
| am. No. 138, 1987 | |
| rep. No. 97, 1989 | |
S. 121DE ............... | ad. No. 110, 1964 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 49, 1985 | |
S. 121E ................. | ad. No. 17, 1961 | |
| am. No. 51, 1973 | |
| rep. No. 97, 1989 | |
Div. 10 of Part III | rep. No. 60, 1968 | |
S. 122.................. | rep. No. 60, 1968 | |
S. 122AA ................ | ad. No. 69, 1963 | |
| rep. No. 60, 1968 | |
S. 122AB ................ | ad. No. 70, 1959 | |
| rep. No. 60, 1968 | |
S. 122E ................. | ad. No. 60, 1968 | |
| am. No. 126, 1974; No. 108, 1981 | |
| rep. No. 107, 1989 | |
Ss. 122F, 122G ........... | ad. No. 60, 1968 | |
| am. No. 51, 1973; No. 126, 1974; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 122NA ............... | ad. No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 122Q ................ | ad. No. 60, 1968 | |
| am. No. 93, 1969; No. 51, 1973; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 123 .................. | rs. No. 44, 1951 | |
| rep. No. 60, 1968 | |
S. 123AA ................ | ad. No. 11, 1947 | |
| am. No. 44, 1951; No. 18, 1960; No. 69, 1963 | |
| rep. No. 60, 1968 | |
S. 123A ................. | ad. No. 30, 1939 | |
| am. No. 17, 1940; No. 11, 1947; No. 44, 1951; No. 55, 1958; No. 70, 1959; No. 18, 1960 | |
| rep. No. 69, 1963 | |
S. 124 .................. | rs. No. 44, 1951 | |
| am. No. 110, 1964 | |
| rep. No. 60, 1968 | |
S. 124A ................. | ad. No. 44, 1951 | |
| am. No. 18, 1960 | |
| rep. No. 60, 1968 | |
S. 124AA ................ | ad. No. 103, 1965 | |
| rep. No. 60, 1968 | |
S. 124B ................. | ad. No. 44, 1951 | |
| am. No. 70, 1959 | |
| rep. No. 60, 1968 | |
S. 124C ................. | ad. No. 44, 1951 | |
| am. No. 69, 1963 | |
| rep. No. 60, 1968 | |
S. 124D ................. | ad. No. 28, 1952 | |
| rep. No. 60, 1968 | |
S. 124DA ............... | ad. No. 39, 1962 | |
| am. No. 69, 1963; No. 46, 1964 | |
| rep. No. 60, 1968 | |
Div. 10AA of Part III | ad. No. 69, 1963 | |
S. 124AEA .............. | ad. No. 57, 1978 | |
| rep. No. 107, 1989 | |
S. 124ANA .............. | ad. No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 124AR ............... | ad. No. 126, 1974 | |
| am. No. 205, 1976; No. 57, 1978; No. 24, 1980; Nos. 108, 109 and 154, 1981; No. 14, 1983 | |
| rep. No. 107, 1989 | |
S. 124DB ............... | ad. No. 69, 1963 | |
| am. No. 164, 1973 | |
| rep. No. 126, 1974 | |
S. 124DC ............... | ad. No. 69, 1963 | |
| rep. No. 126, 1974 | |
S. 124DD ............... | ad. No. 69, 1963 | |
| am. No. 148, 1968; No. 93, 1969; No. 51, 1973 | |
| rep. No. 126, 1974 | |
S. 124DE ............... | ad. No. 69, 1963 | |
| am. No. 51, 1973 | |
| rep. No. 126, 1974 | |
S. 124DF ................ | ad. No. 69, 1963 | |
| am. No. 103, 1965; No. 50, 1966; No. 93, 1969; No. 51, 1973 | |
| rep. No. 126, 1974 | |
S. 124DG ............... | ad. No. 69, 1963 | |
| rep. No. 126, 1974 | |
S. 124DH ............... | ad. No. 69, 1963 | |
| am. Nos. 51 and 164, 1973 | |
| rep. No. 126, 1974 | |
S. 124DJ ................ | ad. No. 69, 1963 | |
| am. No. 164, 1973 | |
| rep. No. 126, 1974 | |
Ss. 124DK, 124DL ......... | ad. No. 69, 1963 | |
| rep. No. 126, 1974 | |
Ss. 124DM, 124DN ........ | ad. No. 69, 1963 | |
| am. No. 60, 1968; No. 51, 1973 | |
| rep. No. 126, 1974 | |
S. 124ZP ................ | ad. No. 98, 1992 | |
| rep. No. 46, 1998 | |
Subheads to s. 124ZZB(1)–(3) | rep. No. 46, 1998 | |
S. 124ZZC ............... | ad. No. 181, 1994 | |
| rep. No. 46, 1998 | |
S. 125 .................. | am. No. 65, 1940; No. 22, 1942; No. 10, 1943; No. 48, 1950; No. 18, 1960; No. 69, 1963; Nos. 103 and 143, 1965 | |
| rep. No. 85, 1967 | |
| ad. No. 54, 1971 | |
| am. No. 51, 1973; No. 80, 1975; No. 25, 1983; No. 98, 1992 | |
| rep. No. 95, 1997 | |
Div. 11A of Part III | ad. No. 85, 1959 | |
S. 128E ................. | ad. No. 85, 1959 | |
| rep. No. 38, 1967 | |
S. 128M ................ | ad. No. 54, 1971 | |
| am. No. 51, 1973; No. 216, 1973 (as am. by No. 20, 1974) | |
| rep. No. 138, 1994 | |
Div. 11B of Part III | ad. No. 172, 1978 rep. No. 58, 1987 | |
S. 128S ................. | ad. No. 172, 1978 | |
| am. No. 108, 1981 | |
| rep. No. 58, 1987 | |
S. 128T ................. | ad. No. 172, 1978 | |
| rep. No. 58, 1987 | |
Div. 13 of Part III (s. 136) .... | rep. No. 29, 1982 | |
S. 136 .................. | rep. No. 29, 1982 | |
Div. 13A of Part III (s. 136A) .. | ad. No. 126, 1977 rep. No. 224, 1992 | |
S. 136A ................. | ad. No. 126, 1977 | |
| am. No. 123, 1984 | |
| rep. No. 224, 1992 | |
Div. 14 of Part III | rep. No. 126, 1977 | |
S. 137 .................. | rep. No. 126, 1977 | |
S. 138 .................. | am. No. 50, 1942 | |
| rep. No. 126, 1977 | |
S. 139 .................. | rep. No. 126, 1977 | |
S. 139FH ................ | ad. No. 169, 1995 | |
| rep. No. 122, 1997 | |
S. 140 .................. | am. No. 143, 1965 | |
| rep. No. 126, 1977 | |
S. 158AA ................ | ad. No. 50, 1966 | |
| am. No. 51, 1973; No. 126, 1977; No. 57, 1978; No. 108, 1981 | |
| rep. No. 103, 1983 | |
Ss. 158AB, 158AC ......... | ad. No. 50, 1966 | |
| am. No. 51, 1973 | |
| rep. No. 126, 1977 | |
Div. 16A of Part III | ad. No. 45, 1953 rep. No. 138, 1987 | |
Ss. 158B–158E ........... | ad. No. 45, 1953 rep. No. 138, 1987 | |
Div. 16B of Part III | ad. No. 101, 1969 | |
S. 159 .................. | am. No. 88, 1936; No. 65, 1940; No. 58, 1941; No. 22, 1942; No. 11, 1947; No. 38, 1950 | |
| rep. No. 81, 1953 | |
| ad. No. 101, 1969 | |
| am. No. 51, 1973; No. 205, 1976; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 159A ................. | ad. No. 101, 1969 | |
| am. No. 51, 1973; No. 205, 1976; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 159B ................. | ad. No. 101, 1969 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 159C ................. | ad. No. 101, 1969 | |
| am. No. 51, 1973; No. 205, 1976; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 159D ................. | ad. No. 101, 1969 | |
| am. No. 51, 1973; No. 216, 1973 (as am. by No. 20, 1974); No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 159E ................. | ad. No. 101, 1969 | |
| am. No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 159F ................. | ad. No. 101, 1969 | |
| rep. No. 107, 1989 | |
S. 159G ................ | ad. No. 101, 1969 | |
| am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 159GB ............... | ad. No. 205, 1976 | |
| rep. No. 56, 1989 | |
S. 159GZD .............. | ad. No. 138, 1987 | |
| am. No. 78, 1988 | |
| rep. No. 58, 1990 | |
Ss. 159GZO, 159GZP ...... | ad. No. 138, 1987 | |
| rep. No. 174, 1997 | |
S. 159GZZP ............. | ad. No. 153, 1988 | |
| rep. No. 4, 1991 | |
S. 159GZZZA ............ | ad. No. 153, 1988 | |
| rep. No. 4, 1991 | |
S. 159GZZZMA ........... | ad. No. 82, 1994 | |
| rep. No. 170, 1995 | |
Subdiv. E of Div. 16K of | ad. No. 58, 1990 | |
S. 159GZZZT ............ | ad. No. 58, 1990 | |
| rep. No. 46, 1998 | |
S. 159GZZZU ............ | ad. No. 98, 1992 | |
| am. No. 56, 1994 | |
| rep. No. 163, 1994 | |
Ss. 159GZZZV–159GZZZZ .. | ad. No. 98, 1992 | |
| rep. No. 163, 1994 | |
Ss. 159GZZZZA, 159GZZZZB | ad. No. 98, 1992 | |
| am. No. 56, 1994 | |
| rep. No. 163, 1994 | |
S. 159GZZZZC ........... | ad. No. 98, 1992 | |
| rep. No. 163, 1994 | |
S. 159GZZZZD ........... | ad. No. 98, 1992 | |
| rep. No. 163, 1994 | |
Heading to Subdiv. B of | rep. No. 163, 1994 | |
S. 159N ................. | ad. No. 117, 1975 | |
| am. No. 56, 1976; No. 126, 1977; No. 108, 1981; No. 106, 1982; No. 103, 1983 | |
| rep. No. 123, 1985 | |
S. 159Q ................ | ad. No. 117, 1975 | |
| rep. No. 123, 1985 | |
S. 159R ................. | ad. No. 117, 1975 | |
| am. Nos. 50 and 53, 1976; No. 124, 1980; No. 108, 1981; No. 54, 1983; No. 47, 1984; No. 49, 1985 | |
| rep. No. 123, 1985 | |
S. 159S ................. | ad. No. 117, 1975 | |
| rep. No. 53, 1976 | |
Ss. 159SB–159SE ......... | ad. No. 105, 1989 | |
| rep. No. 7, 1993 | |
S. 159SH ............... | ad. No. 105, 1989 | |
| rep. No. 7, 1993 | |
S. 159SK ................ | ad. No. 105, 1989 | |
| rep. No. 208, 1992 | |
S. 159SN ............... | ad. No. 105, 1989 | |
| am. No. 56, 1994 | |
| rep. No. 208, 1992 | |
Ss. 159SP–159SR ......... | ad. No. 105, 1989 | |
| rep. No. 208, 1992 | |
S. 159SV ................ | ad. No. 105, 1989 | |
| am. No. 56, 1994 | |
| rep. No. 208, 1992 | |
Ss. 159SW–159SY ........ | ad. No. 105, 1989 | |
| rep. No. 208, 1992 | |
S. 159T ................. | ad. No. 117, 1975 | |
| am. Nos. 50 and 56, 1976; No. 108, 1981 | |
| rep. No. 123, 1985 | |
Subdiv. AAC of Div. 17 of | ad. No. 135, 1990 rep. No. 208, 1992 | |
Ss. 159T, 159TA–159TL .... | ad. No. 135, 1990 | |
| rep. No. 208, 1992 | |
S. 159V ................. | ad. No. 117, 1975 | |
| am. No. 108, 1981 | |
| rep. No. 123, 1985 | |
S. 159W ................ | ad. No. 117, 1975 | |
| rep. No. 123, 1985 | |
S. 159X ................. | ad. No. 117, 1975 | |
| am. No. 50, 1976 | |
| rep. No. 123, 1985 | |
S. 159XA ................ | ad. No. 109, 1981 | |
| am. No. 106, 1982; No. 25, 1983 | |
| rep. No. 123, 1985 | |
S. 159Y ................. | ad. No. 117, 1975 | |
| rep. No. 123, 1985 | |
Subdiv. AA of Div. 17 of | ad. No. 38, 1982 rep. No. 138, 1994 | |
S. 159ZA ................ | ad. No. 38, 1982 | |
| am. No. 49, 1983; No. 135, 1990 | |
| rep. No. 138, 1994 | |
Ss. 159ZB–159ZE ......... | ad. No. 38, 1982 | |
| rep. No. 138, 1994 | |
S. 159ZF ................ | ad. No. 38, 1982 | |
| rs. No. 106, 1982 | |
| rep. No. 138, 1994 | |
Ss. 159ZG, 159ZH ......... | ad. No. 38, 1982 | |
| rep. No. 138, 1994 | |
S. 159ZJ ................ | ad. No. 38, 1982 | |
| am. No. 106, 1982; No. 49, 1983 | |
| rep. No. 138, 1994 | |
S. 159ZK ................ | ad. No. 38, 1982 | |
| am. No. 106, 1982; No. 49, 1983; No. 109, 1986 | |
| rep. No. 138, 1994 | |
S. 159ZKA ............... | ad. No. 49, 1983 | |
| rep. No. 138, 1994 | |
Ss. 159ZL, 159ZM ......... | ad. No. 38, 1982 | |
| am. No. 106, 1982 | |
| rep. No. 138, 1994 | |
S. 159ZN ................ | ad. No. 38, 1982 | |
| am. No. 106, 1982; No. 49, 1983 | |
| rep. No. 138, 1994 | |
S. 159ZNA .............. | ad. No. 106, 1982 | |
| am. No. 25, 1983 | |
| rep. No. 138, 1994 | |
Ss. 159ZNB, 159ZNC ....... | ad. No. 106, 1982 | |
| rep. No. 138, 1994 | |
Ss. 159ZO, 159ZP ......... | ad. No. 38, 1982 | |
| rep. No. 138, 1994 | |
S. 159ZQ ............... | ad. No. 38, 1982 | |
| am. No. 106, 1982 | |
| rep. No. 138, 1994 | |
S. 160 .................. | rs. No. 58, 1941; No. 22, 1942 | |
| am. No. 50, 1942; No. 10, 1943; No. 28, 1944; No. 4, 1945; No. 6, 1946; No. 11, 1947; No. 44, 1948; No. 66, 1949 | |
| rep. No. 48, 1950 | |
| ad. No. 44, 1951 | |
| am. No. 90, 1952; No. 45, 1953; No. 70, 1959; No. 110, 1964; No. 143, 1965; No. 50, 1966; No. 76, 1967; No. 51, 1973; No. 126, 1974; No. 117, 1975; Nos. 57 and 126, 1977; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 160AA ................ | ad. No. 58, 1941 | |
| am. Nos. 22 and 50, 1942; No. 11, 1947 | |
| rep. No. 48, 1950 | |
| ad. No. 126, 1974 | |
| rep. No. 117, 1975 | |
| ad. No. 123, 1978 | |
| am. No. 149, 1979; No. 57, 1980; Nos. 108 and 109, 1981; No. 106, 1982 | |
| rs. No. 47, 1984 | |
| am. Nos. 123 and 129, 1985; Nos. 49 and 109, 1986 | |
| rep. No. 105, 1989 | |
S. 160ABA .............. | ad. No. 6, 1946 | |
| rs. No. 44, 1948 | |
| am. No. 48, 1950; No. 44, 1951; No. 34, 1963; Nos. 51 and 52, 1973; No. 216, 1973 (as am. by No. 20, 1974); No. 36, 1978; No. 108, 1981; No. 123, 1984 | |
| rep. No. 107, 1989 | |
S. 160AC ............... | ad. No. 22, 1942 | |
| am. No. 50, 1942 | |
| rep. No. 48, 1950 | |
| ad. No. 87, 1968 | |
| am. No. 18, 1969; Nos. 51 and 165, 1973; No. 216, 1973 (as am. by No. 20, 1974); No. 126, 1974; No. 117, 1975; Nos. 108 and 111, 1981 | |
| rep. No. 107, 1989 | |
S. 160ACA .............. | ad. No. 57, 1978 | |
| am. No. 24, 1980; Nos. 108 and 109, 1981; No. 168, 1985; No. 11, 1988; No. 129, 1989 | |
| rep. No. 107, 1989 | |
Ss. 160ACB, 160ACC ...... | ad. No. 57, 1978 | |
| rep. No. 107, 1989 | |
S. 160ACD .............. | ad. No. 49, 1985 | |
| am. No. 24, 1980; No. 108, 1981 | |
| rep. No. 107, 1989 | |
S. 160AE ................ | ad. No. 22, 1942 | |
| am. No. 50, 1942; No. 37, 1945 | |
| rep. No. 48, 1950 | |
S. 160AF ................ | ad. No. 3, 1944 | |
| rep. No. 85, 1959 | |
Div. 18 of Part III | ad. No. 3, 1944 | |
Div. 18 of Part III | ad. No. 18, 1960 | |
Ss. 160AE–160AF ......... | ad. No. 18, 1960 | |
| rs. No. 80, 1975 | |
| rep. No. 51, 1986 | |
S. 160AG ............... | ad. No. 3, 1944 | |
| rep. No. 85, 1959 | |
| ad. No. 18, 1960 | |
| rs. No. 4, 1968 | |
| am. No. 51, 1973 | |
| rs. No. 80, 1975 | |
| rep. No. 51, 1986 | |
Ss. 160AH–160AM ........ | ad. No. 3, 1944 | |
| rep. No. 85, 1959 | |
Div. 19 of Part III | ad. No. 6, 1946 | |
Ss. 160AN, 160AO......... | ad. No. 6, 1946 | |
| rep. No. 85, 1959 | |
S. 160AP ................ | ad. No. 6, 1946 | |
| rep. No. 85, 1959 | |
| ad. No. 87, 1978 | |
| am. No. 123, 1984 | |
| rep. No. 73, 1989 | |
S. 160APKB ............. | ad. No. 216, 1991 | |
| rep. No. 89, 2000 | |
S. 160APM .............. | ad. No. 58, 1987 | |
| rep. No. 216, 1991 | |
S. 160APN .............. | ad. No. 58, 1987 | |
| rep. No. 216, 1991 | |
S. 160APNA ............. | ad. No. 20, 1990 | |
| rep. No. 216, 1991 | |
Ss. 160APR–160APT ....... | ad. No. 58, 1987 | |
| rep. No. 216, 1991 | |
Ss. 160APVA, 160APVB .... | ad. No. 48, 1991 rep. No. 216, 1991 | |
S. 160APVE ............. | ad. No. 48, 1991 | |
| rep. No. 216, 1991 | |
S. 160APY .............. | ad. No. 58, 1987 | |
| rep. No. 216, 1991 | |
S. 160APYA ............. | ad. No. 20, 1990 | |
| am. No. 4, 1991 | |
| rep. No. 216, 1991 | |
S. 160APYAA ............ | ad. No. 4, 1991 | |
| rep. No. 216, 1991 | |
S. 160AQ ............... | ad. No. 6, 1946 | |
| rep. No. 85, 1959 | |
| ad. No. 58, 1987 | |
| rep. No. 216, 1991 | |
S. 160AQA .............. | ad. No. 58, 1987 | |
| rep. No. 216, 1991 | |
Ss. 160AQCF–160AQCH .... | ad. No. 48, 1991 rep. No. 216, 1991 | |
Subdiv. BB of Div. 7 of | ad. No. 93, 1999 | |
Ss. 160AQZI–160AQZK ..... | ad. No. 93, 1999 | |
| rep. No. 89, 2000 | |
S. 160AR ............... | ad. No. 6, 1946 | |
| am. No. 44, 1948; No. 44, 1951 | |
| rep. No. 85, 1959 | |
S. 160AS ................ | ad. No. 6, 1946 | |
| rep. No. 85, 1959 | |
| ad. No. 58, 1987 | |
| am. No. 5, 1991 | |
| rep. No. 101, 1992 | |
S. 160AT ................ | ad. No. 6, 1946 | |
| rep. No. 85, 1959 | |
S. 160ATE ............... | ad. No. 79, 2000 | |
| rep. No. 89, 2000 | |
S. 160ATI ............... | ad. No. 79, 2000 | |
| rep. No. 89, 2000 | |
Part IIIA | ad. No. 17, 1940 rep. No. 44, 1951 | |
Part IIIA | rep. No. 44, 1951 | |
S. 160A ................. | ad. No. 17, 1940 | |
| rs. No. 3, 1944 | |
| am. No. 44, 1948 | |
| rep. No. 44, 1951 | |
S. 160B ................. | ad. No. 17, 1940 | |
| am. No. 48, 1950 | |
| rep. No. 44, 1951 | |
S. 160C ................. | ad. No. 17, 1940 | |
| am. No. 65, 1940; No. 58, 1941; Nos. 22 and 50, 1942; No. 10, 1943; No. 44, 1948 | |
| rep. No. 44, 1951 | |
S. 160D ................. | ad. No. 17, 1940 | |
| rep. No. 44, 1951 | |
S. 160E ................. | ad. No. 58, 1941 | |
| am. Nos. 22 and 50, 1942 | |
| rs. No. 11, 1947 | |
| am. No. 63, 1947 | |
| rep. No. 44, 1951 | |
S. 160ZZOA ............. | ad. No. 35, 1990 | |
| am. No. 5, 1991 | |
| rep. No. 48, 1991 | |
Part IIIB | ad. No. 69, 1941 rep. No. 22, 1942 | |
Part IIIB | ad. No. 11, 1947 rep. No. 81, 1953 | |
S. 160F ................. | ad. No. 69, 1941 | |
| rep. No. 22, 1942 | |
| ad. No. 11, 1947 | |
| am. No. 48, 1950 | |
| rep. No. 81, 1953 | |
Ss. 160G, 160H ........... | ad. No. 69, 1941 | |
| rep. No. 22, 1942 | |
| ad. No. 11, 1947 | |
| rep. No. 81, 1953 | |
S. 160J ................. | ad. No. 69, 1941 | |
| rep. No. 22, 1942 | |
| ad. No. 11, 1947 | |
| am. No. 48, 1950 | |
| rep. No. 81, 1953 | |
S. 160K ................. | ad. No. 11, 1947 | |
| am. No. 44, 1948; No. 48, 1950 | |
| rs. No. 44, 1951 | |
| am. No. 90, 1952 | |
| rep. No. 81, 1953 | |
Ss. 160L, 160M ........... | ad. No. 11, 1947 | |
| rep. No. 81, 1953 | |
S. 160N ................. | ad. No. 11, 1947 | |
| am. No. 48, 1950 | |
| rep. No. 81,1953 | |
S. 160P ................. | ad. No. 11, 1947 | |
| rep. No. 81, 1953 | |
S. 160Q ................ | ad. No. 11, 1947 | |
| am. No. 44, 1948; No. 44, 1951 | |
| rep. No. 81, 1953 | |
Ss. 160R, 160S ........... | ad. No. 11, 1947 | |
| am. No. 48, 1950 | |
| rep. No. 81, 1953 | |
S. 160T ................. | ad. No. 11, 1947 | |
| rep. No. 81, 1953 | |
S. 160ZLA ............... | ad. No. 82, 1994 | |
| rep. No. 170, 1995 | |
S. 160ZZPJA ............. | ad. No. 46, 1998 | |
| rep. No. 94, 1999 | |
S. 160ZZPZAA ........... | ad. No. 46, 1998 | |
| rep. No. 94, 1999 | |
S. 160ZZRAAAA .......... | ad. No. 46, 1998 | |
| rep. No. 94, 1999 | |
Note to s. 160ZZSJ......... | rep. No. 94, 1999 | |
S. 160ZZSQ.............. | ad. No. 122, 1997 | |
| rep. No. 94, 1999 | |
Ss. 161B–161D ........... | ad. No. 174, 1997 | |
| rep. No. 91, 2000 | |
S. 161E ................. | ad. No. 174, 1997 | |
| am. No. 179, 1999 | |
| rep. No. 91, 2000 | |
S. 163C ................. | ad. No. 169, 1995 | |
| rep. No. 11, 1999 | |
S. 165 .................. | am. No. 10, 1943; No. 51, 1973; No. 123, 1984; No. 78, 1988; No. 174, 1997 | |
| rep. No. 91, 2000 | |
S. 170B ................. | ad. No. 103, 1965 | |
| am. No. 51, 1973; No. 216, 1973 (as am. by No. 20, 1974); No. 108, 1981 | |
| rep. No. 91, 2000 | |
Div. 1 of Part V | rep. No. 48, 1986 | |
S. 178 .................. | am. No. 108, 1981 | |
| rep. No. 48, 1986 | |
S. 179 .................. | rep. No. 49, 1985 | |
S. 180 .................. | am. No. 10, 1943 | |
| rep. No. 48, 1986 | |
S. 181 .................. | rep. No. 48, 1986 | |
S. 182 .................. | am. No. 63, 1947; No. 48, 1950; No. 18, 1955; No. 39, 1957; No. 17, 1960; No. 115, 1964; No. 143, 1965; No. 85, 1967 | |
| rs. No. 123, 1984 | |
| rep. No. 48, 1986 | |
S. 183 .................. | am. No. 216, 1973 (as am. by No. 20, 1974); No. 108, 1981 | |
| rep. No. 48, 1986 | |
S. 184 .................. | am. No. 216, 1973 (as am. by No. 20, 1974); No. 108, 1981 | |
| rep. No. 48, 1986 | |
| ad. No. 23, 1987 | |
| rs. No. 8, 1988 | |
| rep. No. 216, 1991 | |
S. 184A ................. | ad. No. 165, 1976 | |
| am. No. 123, 1984 | |
| rep. No. 23, 1987 | |
S. 184B ................. | ad. No. 165, 1976 | |
| rep. No. 123, 1984 | |
S. 184C ................. | ad. No. 165, 1976 | |
| rep. No. 23, 1987 | |
Part V | rep. No. 216, 1991 | |
S. 185 .................. | am. No. 108, 1981; No. 48, 1986 | |
| rep. No. 216, 1991 | |
S. 186 .................. | rep. No. 216, 1991 | |
S. 187 .................. | am. No. 53, 1973; No. 165, 1976; No. 87, 1978; No. 108, 1981 | |
| rs. No. 48, 1986 | |
| am. No. 23, 1987 | |
| rep. No. 216, 1991 | |
S. 188 .................. | am. No. 143, 1965; No. 108, 1981 | |
| rs. No. 48, 1986 | |
| rep. No. 216, 1991 | |
S. 188A ................. | ad. No. 48, 1986 | |
| rep. No. 216, 1991 | |
S. 188B ................. | ad. No. 48, 1986 | |
| am. No. 23, 1987 | |
| rep. No. 216, 1991 | |
S. 189 .................. | am. No. 143, 1965; No. 108, 1981 | |
| rs. No. 48, 1986 | |
| am. No. 23, 1987 | |
| rep. No. 216, 1991 | |
S. 189A ................. | ad. No. 48, 1986 | |
| rep. No. 216, 1991 | |
S. 189B ................. | ad. No. 8, 1988 | |
| rep. No. 216, 1991 | |
S. 190 .................. | am. Nos. 48 and 112, 1986 | |
| rep. No. 216, 1991 | |
S. 191 .................. | rep. No. 48, 1986 | |
S. 192 .................. | am. No. 216, 1973 (as am. by No. 20, 1974) | |
| rep. No. 48, 1986 | |
S. 193 .................. | am. No. 143, 1965; No. 51, 1973; No. 117, 1975; No. 149, 1979; Nos. 108 and 110, 1981; No. 29, 1982; No. 123, 1984; No. 48, 1986 | |
| rep. No. 216, 1991 | |
S. 194 .................. | am. No. 108, 1981 | |
| rep. No. 48, 1986 | |
S. 195 .................. | rep. No. 48, 1986 | |
S. 196 .................. | rs. No. 53, 1973; No. 165, 1976 | |
| am. No. 87, 1978 | |
| rep. No. 48, 1986 | |
S. 196A ................. | ad. No. 53, 1973 | |
| am. No. 165, 1976; No. 48, 1986 | |
| rep. No. 23, 1987 | |
S. 197 .................. | am. No. 53, 1973; No. 165, 1976 | |
| rep. No. 48, 1986 | |
S. 198 ................. | rs. No. 165, 1976 | |
| am. No. 48, 1986 | |
| rep. No. 23, 1987 | |
S. 199 .................. | rs. No. 165, 1976 | |
| am. No. 48, 1986; No. 23, 1987 | |
| rep. No. 216, 1991 | |
S. 200 .................. | rs. No. 165, 1976 | |
| rep. No. 23, 1987 | |
S. 200A ................. | ad. No. 19, 1979 | |
| rep. No. 23, 1987 | |
S. 200B ................. | ad. No. 48, 1986 | |
| am. No. 23, 1987 | |
| rep. No. 216, 1991 | |
S. 201 .................. | am. No. 123, 1984; No. 48, 1986 | |
| rep. No. 216, 1991 | |
S. 202 .................. | rs. No. 123, 1984 | |
| am. No. 46, 1986 | |
| rep. No. 48, 1986 | |
S. 202E ................. | ad. No. 97, 1988 | |
| rep. No. 57, 1990 | |
S. 202ED ............... | ad. No. 97, 1988 | |
| rep. No. 57, 1990 | |
S. 203 .................. | rep. No. 5, 1937 | |
| ad. No. 87, 1978 | |
| rep. No. 73, 1989 | |
S. 204A ................. | ad. No. 87, 1978 | |
| rep. No. 73, 1989 | |
S. 207 .................. | am. No. 46, 1938; No. 108, 1981; No. 123, 1982; No. 123, 1984; No. 101, 1992; No. 120, 1995 | |
| rep. No. 11, 1999 | |
S. 207A ................. | ad. No. 101, 1992 | |
| am. No. 120, 1995 | |
| rep. No. 11, 1999 | |
S. 208A ................. | ad. No. 87, 1978 | |
| rep. No. 73, 1989 | |
S. 208B ................. | ad. No. 87, 1978 | |
| am. No. 108, 1981; No. 73, 1989 | |
| rep. No. 11, 1999 | |
S. 210 .................. | am. No. 46, 1938 | |
| rep. No. 39, 1962 | |
Ss. 211, 212 ............. | rep. No. 39, 1962 | |
S. 212A ................. | ad. No. 48, 1950 | |
| rep. No. 39, 1962 | |
S. 217 .................. | am. No. 87, 1978 | |
| rep. No. 123, 1984 | |
S. 220AAV .............. | ad. No. 47, 1998 | |
| rep. No. 11, 1999 | |
Ss. 220AAX, 220AAY ....... | ad. No. 47, 1998 | |
| rep. No. 11, 1999 | |
S. 220AG ............... | ad. No. 138, 1994 | |
| rep. No. 47, 1998 | |
S. 220AI ................ | ad. No. 138, 1994 | |
| rep. No. 47, 1998 | |
S. 220AT ................ | ad. No. 138, 1994 | |
| rep. No. 47, 1998 | |
S. 220AV ................ | ad. No. 138, 1994 | |
| am. No. 47, 1998 | |
| rep. No. 11, 1999 | |
S. 220AW ............... | ad. No. 138, 1994 | |
| rep. No. 120, 1995 | |
S. 221 .................. | rep. No. 58, 1941 | |
| ad. No. 22, 1942 | |
| am. No. 6, 1946; No. 43, 1954; No. 85, 1959; No. 143, 1965; No. 50, 1966; No. 51, 1973 | |
| rep. No. 134, 1980 | |
S. 221AB ................ | ad. No. 165, 1973 | |
| rep. No. 26, 1974 | |
S. 221B ................. | ad. No. 65, 1940 | |
| rs. No. 63, 1947 | |
| rep. No. 216, 1991 | |
Div. 2 of Part VI | ad. No. 65, 1940 | |
Ss. 221A–221E ........... | ad. No. 65, 1940 | |
| rep. No. 63, 1947 | |
S. 221EA ................ | ad. No. 87, 1978 | |
| rep. No. 73, 1989 | |
S. 221EB ................ | ad. No. 87, 1978 | |
| am. No. 108, 1981 | |
| rep. No. 73, 1989 | |
S. 221EC ............... | ad. No. 45, 1990 | |
| am. No. 170, 1995 | |
| rep. No. 47, 1998 | |
S. 221ED ............... | ad. No. 45, 1990 | |
| rep. No. 47, 1998 | |
Ss. 221EDA–221EDC ...... | ad. No. 170, 1995 | |
| rep. No. 47, 1998 | |
S. 221F ................. | ad. No. 65, 1940 | |
| rep. No. 63, 1947 | |
S. 221G ................ | ad. No. 65, 1940 | |
| am. No. 3, 1944 | |
| rs. No. 63, 1947 | |
| am. No. 44, 1951; No. 143, 1965; No. 51, 1973; No. 87, 1978; No. 108, 1981; Nos. 47 and 123, 1984; No. 97, 1988; Nos. 73 and 167, 1989; No. 191, 1992; No. 32, 1993 | |
| rep. No. 170, 1995 | |
S. 221H................. | ad. No. 65, 1940 | |
| rep. No. 63, 1947 | |
S. 221HA ............... | ad. No. 10, 1943 | |
| rs. No. 3, 1944 | |
| rep. No. 63, 1947 | |
S. 221J................. | ad. No. 65, 1940 | |
| rep. No. 63, 1947 | |
S. 221KA ................ | ad. No. 3, 1944 | |
| rep. No. 63, 1947 | |
S. 221KB ................ | ad. No. 3, 1944 | |
| am. No. 4, 1945 | |
| rep. No. 63, 1947 | |
Ss. 221KC, 221KD ......... | ad. No. 3, 1944 | |
| rep. No. 63, 1947 | |
S. 221KE ................ | ad. No. 28, 1944 | |
| rep. No. 63, 1947 | |
S. 221KF ................ | ad. No. 11, 1947 | |
| rep. No. 63, 1947 | |
S. 221L ................. | ad. No. 65, 1940 | |
| am. No. 3, 1944 | |
| rs. No. 63, 1947 | |
| am. No. 66, 1949; No. 143, 1965; No. 51, 1973; No. 108, 1981; No. 123, 1984 | |
| rep. No. 170, 1995 | |
S. 221M ................ | ad. No. 65, 1940 | |
| am. No. 10, 1943; No. 3, 1944 | |
| rs. No. 63, 1947 | |
| am. No. 143, 1965; No. 108, 1981; No. 123, 1984 | |
| rep. No. 170, 1995 | |
S. 221N ................. | ad. No. 65, 1940 | |
| rep. No. 63, 1947 | |
S. 221NA ............... | ad. No. 123, 1984 | |
| am. No. 170, 1995; No. 47, 1998 | |
| rep. No. 11, 1999 | |
S. 221NB ............... | ad. No. 123, 1984 | |
| rep. No. 120, 1995 | |
S. 221P ................. | ad. No. 65, 1940 | |
| rs. No. 63, 1947 | |
| am. No. 44, 1951; No. 85, 1959; No. 87, 1978; No. 108, 1981; No. 14, 1983; No. 123, 1984; No. 154, 1986; No. 73, 1989; No. 3, 1992; No. 32, 1993 | |
| rep. No. 170, 1995 | |
S. 221Q ................ | ad. No. 65, 1940 | |
| rs. No. 63, 1947 | |
| am. No. 216, 1973 (as am. by No. 20, 1974); No. 87, 1978; No. 133, 1980; No. 123, 1984; No. 97, 1988; No. 73, 1989 | |
| rep. No. 170, 1995 | |
Ss. 221R, 221S ........... | ad. No. 65, 1940 | |
| rep. No. 63, 1947 | |
S. 221TA ................ | ad. No. 87, 1978 | |
| am. No. 108, 1981 | |
| rep. No. 73, 1989 | |
S. 221T ................. | ad. No. 65, 1940 | |
| rs. No. 63, 1947 | |
| am. No. 143, 1965; No. 108, 1981; No. 123, 1984 | |
| rep. No. 170, 1995 | |
Ss. 221V–221X ........... | ad. No. 65, 1940 | |
| rep. No. 63, 1947 | |
S. 221U ................. | ad. No. 65, 1940 | |
| am. No. 3, 1944 | |
| rs. No. 63, 1947 | |
| am. No. 87, 1978 | |
| rep. No. 123, 1984 | |
| ad. No. 49, 1985 | |
| am. No. 48, 1986 | |
| rep. No. 216, 1991 | |
S. 221Y ................. | ad. No. 65, 1940 | |
| rs. No. 63, 1947 | |
| am. No. 108, 1981; No. 123, 1984 | |
| rep. No. 170, 1995 | |
S. 221YAA .............. | ad. No. 44, 1951 | |
| rep. No. 123, 1984 | |
S. 221YAB .............. | ad. No. 85, 1959 | |
| rep. No. 38, 1967 | |
S. 221YBA .............. | ad. No. 44, 1951 | |
| rep. No. 85, 1959 | |
S. 221YCA .............. | ad. No. 44, 1951 | |
| rep. No. 85, 1959 | |
S. 221YDBA ............. | ad. No. 87, 1978 | |
| am. No. 108, 1981 | |
| rep. No. 73, 1989 | |
S. 221YHAA ............. | ad. No. 103, 1983 | |
| am. No. 124, 1984 | |
| rep. No. 227, 1992 | |
S. 221YHE .............. | ad. No. 14, 1983 | |
| rep. No. 47, 1984 | |
S. 221YHJ ............... | ad. No. 14, 1983 | |
| am. Nos. 123 and 124, 1984; No. 154, 1986; Nos. 191 and 227, 1992; No. 32, 1993; No. 170, 1995 | |
| rep. No. 47, 1998 | |
S. 221YHK .............. | ad. No. 14, 1983 | |
| am. Nos. 123 and 124, 1984 | |
| rep. No. 227, 1992 | |
S. 221YHLA ............. | ad. No. 123, 1984 | |
| am. No. 47, 1998 | |
| rep. No. 11, 1999 | |
S. 221YHLB ............. | ad. No. 123, 1984 | |
| rep. No. 120, 1995 | |
S. 221YHO .............. | ad. No. 14, 1983 | |
| rep. No. 123, 1984 | |
S. 221YHZF ............. | ad. No. 154, 1986 | |
| rep. No. 11, 1999 | |
S. 221YHZG ............. | ad. No. 154, 1986 | |
| rep. No. 120, 1995 | |
S. 221YHZLA ............ | ad. No. 35, 1992 | |
| rep. No. 11, 1999 | |
S. 221ZDA .............. | ad. No. 123, 1984 | |
| rep. No. 11, 1999 | |
S. 221ZDB .............. | ad. No. 123, 1984 | |
| rep. No. 120, 1995 | |
S. 221ZQ ............... | ad. No. 14, 1983 | |
| rep. No. 11, 1999 | |
S. 221ZQA .............. | ad. No. 123, 1984 | |
| rep. No. 11, 1999 | |
S. 221ZQB .............. | ad. No. 123, 1984 | |
| rep. No. 120, 1995 | |
Ss. 221ZXH–221ZXJ ....... | ad. No. 85, 1998 | |
| rep. No. 11, 1999 | |
Div. 7 of Part VI | ad. No. 2, 1989 rs. No. 138, 1992 | |
| rep. No. 11, 1999 | |
S. 221ZY ................ | ad. No. 2, 1989 | |
| rs. No. 138, 1992 | |
| am. No. 116, 1993; No. 138, 1994; No. 45, 1998 | |
| rep. No. 11, 1999 | |
S. 222AJC ............... | ad. No. 32, 1993 | |
| am. No. 138, 1994; No. 47, 1998 | |
| rep. No. 11, 1999 | |
S. 223 .................. | am. No. 143, 1965; No. 108, 1981 | |
| rs. No. 123, 1984 | |
| am. No. 49, 1984; No. 20, 1990; No. 5, 1991 | |
| rep. No. 101, 1992 | |
S. 223A ................. | ad. No. 62, 1987 | |
| am. No. 95, 1988 | |
| rep. No. 30, 1995 | |
Part VII | rep. No. 123, 1984 | |
Ss. 222–226 ............. | rep. No. 123, 1984 | |
S. 226A ................. | ad. No. 101, 1992 | |
| am. No. 11, 1999 | |
| rep. No. 91, 2000 | |
Ss. 227, 228 ............. | rep. No. 123, 1984 | |
S. 229 .................. | am. No. 108, 1981 | |
| rep. No. 123, 1984 | |
S. 230 .................. | am. No. 143, 1965; No. 87, 1978; No. 108, 1981 | |
| rep. No. 123, 1984 | |
Ss. 231, 232 ............. | am. No. 143, 1965; No. 108, 1981 | |
| rep. No. 123, 1984 | |
S. 233 .................. | am. No. 44, 1951; No. 143, 1965; No. 216, 1973 (as am. by No. 20, 1974); No. 165, 1976; No. 108, 1981 | |
| rep. No. 123, 1984 | |
S. 234 .................. | am. No. 44, 1951; No. 143, 1965; No. 216, 1973 (as am. by No. 20, 1974) | |
| rs. No. 165, 1976 | |
| rep. No. 123, 1984 | |
S. 235 .................. | rs. No. 165, 1976 | |
| rep. No. 123, 1984 | |
S. 236 .................. | am. No. 44, 1951; No. 216, 1973 (as am. by No. 20, 1974) | |
| rep. No. 123, 1984 | |
S. 237 .................. | am. No. 44, 1951; No. 216, 1973 (as am. by No. 20, 1974); No. 165, 1976 | |
| rep. No. 123, 1984 | |
Ss. 238–246 ............. | rep. No. 123, 1984 | |
S. 247 .................. | am. No. 34, 1963; No. 108, 1981 | |
| rep. No. 123, 1984 | |
S. 248 .................. | am. No. 143, 1965; No. 108, 1981 | |
| rep. No. 123, 1984 | |
Ss. 249, 250 ............. | rep. No. 123, 1984 | |
S. 251 .................. | am. No. 87, 1978 | |
| rep. No. 123, 1984 | |
S. 251H ................. | ad. No. 10, 1943 | |
| rep. No. 216, 1973 | |
Part VIIB | ad. No. 53, 1976 | |
Ss. 251R–251X ........... | ad. No. 53, 1976 | |
| rep. No. 51, 1983 | |
S. 251Y ................. | ad. No. 53, 1976 | |
| rep. No. 98, 1976 | |
S. 251Z ................. | ad. No. 53, 1976 | |
| rep. No. 98, 1976 | |
Ss. 251ZA–251ZE ......... | ad. No. 53, 1976 | |
| rep. No. 98, 1976 | |
Ss. 251ZF, 251ZG ......... | ad. No. 53, 1976 | |
| rep. No. 51, 1983 | |
S. 251ZH ................ | ad. No. 53, 1976 | |
| rs. No. 98, 1976 | |
| rep. No. 51, 1983 | |
S. 251ZJ ................ | ad. No. 53, 1976 | |
| rep. No. 51, 1983 | |
S. 253 .................. | rep. No. 88, 1936 | |
S. 256 .................. | am. No. 50, 1942; No. 4, 1968; No. 108, 1981 | |
| rep. No. 154, 1986 | |
S. 261 .................. | am. No. 51, 1973; No. 108, 1981 | |
| rep. No. 76, 1996 | |
S. 264B ................. | ad. No. 174, 1997 | |
| rep. No. 91, 2000 | |
S. 264C ................. | ad. No. 174, 1997 | |
| rep. No. 91, 2000 | |
S. 265B ................. | ad. No. 37, 1945 | |
| rep. No. 87, 1978 | |
S. 279C ................. | ad. No. 105, 1989 | |
| rep. No. 61, 1990 | |
Note to s. 299A ........... | rep. No. 44, 1999 | |
Notes 1, 2 to s. 299A ....... | ad. No. 44, 1999 | |
| rep. No. 89, 2000 | |
S. 307 .................. | ad. No. 105, 1989 | |
| rep. No. 46, 1998 | |
Ss. 312–314 ............. | ad. No. 105, 1989 | |
| rep. No. 46, 1998 | |
Ss. 415–417 ............. | ad. No. 5, 1991 | |
| am. No. 170, 1995 | |
| rep. No. 46, 1998 | |
S. 420 .................. | ad. No. 5, 1991 | |
| rep. No. 48, 1991 | |
S. 431B ................. | ad. No. 190, 1992 | |
| rep. No. 138, 1994 | |
Div. 8 of Part XI | ad. No. 190, 1992 rep. No. 155, 1997 | |
Ss. 512, 513 ............. | ad. No. 190, 1992 | |
| rep. No. 155, 1997 | |
Heading to The Schedule .... | rep. No. 4, 1945 | |
Heading to The First | ad. No. 4, 1945 rep. No. 51, 1973 | |
Heading to The Second | rep. No. 51, 1973 | |
The Third Schedule ........ | ad. No. 11, 1947 | |
| rep. No. 81, 1953 | |
Schedule 6 .............. | ad. No. 190, 1992 | |
| rep. No. 155, 1997 | |
Note 2
There is no express provision in the text of the ITAA 36 specifying that the internal table of contents do not form part of the Act. There have been no express amendments to these Tables. They have been updated for the convenience of readers only.
Note 3
Subsection 262A(4AC) and paragraph 262A(4AC)(a)—Schedule 3 (items 49 and 50) of the Tax Laws Amendment (Research and Development) Act 2011 (No. 93, 2011) provide as follows:
Schedule 3
49 Subsection 262A(4AC)
Omit “73E(1), 73F(1) or 73G(1),”.
50 Paragraph 262A(4AC)(a)
Omit “73E, 73F or 73G,”.
The proposed amendments were misdescribed and are not incorporated in this compilation.
Note 4
Clean Energy (Tax Laws Amendments) Act 2011 (No. 159, 2011)
The following amendments commence on 1 July 2015:
Schedule 1
4 Subsection 159N(1)
Omit “$66,667”, substitute “$67,000”.
5 Subsection 159N(2)
Repeal the subsection, substitute:
(2) The amount of the rebate is $300, reduced by 1 cent for every $1 of the amount (if any) by which the taxpayer’s taxable income of the year of income exceeds $37,000.
As at 15 January 2013 the amendments are not incorporated in this compilation.
Table A
Application, saving or transitional provisions
Income Tax (Consequential Amendments) Act 1997 (No. 39, 1997)
Schedule 1
274 Application of amendments
The amendments made by this Schedule apply to assessments for the 1997‑98 year of income and later years of income.
Taxation Laws Amendment (Private Health Insurance Incentives) Act 1997
(No. 56, 1997)
Schedule 1
5 Application
The amendments made by this Schedule (other than item 2) apply to assessments in respect of income for the 1997‑98 year of income and all later years of income.
Schedule 2
10 Application
(1) The amendments of the Income Tax Assessment Act 1936 apply to assessments in respect of income for the 1997‑98 year of income and all later years of income.
Schedule 3
2 Application
The amendment made by this Schedule applies to assessments in respect of the 1996‑97 year of income and for all later years of income.
Taxation Laws Amendment Act (No. 2) 1997 (No. 95, 1997)
Schedule 1
22 Application
(1) The amendments made by items 1 to 8 and 21 apply in determining net capital gains and net capital losses for the 1996‑97 year of income and all later years of income.
(2) In determining a taxpayer’s net capital gain for those years:
(a) the taxpayer’s net capital loss for the 1995‑96 year of income is to be worked out disregarding the amendments made by those items; and
(b) the taxpayer is taken (other than for the purposes of paragraph (a)) not to have incurred a net capital loss for any year of income before the 1995‑96 year of income.
(3) The amendments made by items 9 to 20 apply to transfers of net capital losses where the gain year is the 1996‑97 year of income or a later year of income.
Schedule 2
19 Application
The amendments made by this Schedule apply to payments made after 7.30 pm, by legal time in the Australian Capital Territory, on 20 August 1996.
20 Transitional—regulations
The first regulations made after the commencement of this item for the purposes of section 221YL of the Income Tax Assessment Act 1936 may be expressed:
(a) to have been in effect at all relevant times before the date of notification of the regulations; or
(b) to apply in relation to a period of any part of which occurred before the date of notification of the regulations; or
(c) to take effect from:
(i) a specified date; or
(ii) a specified time on a specified date;
before the date of notification of the regulations.
Schedule 3
14 Application
(1) The amendment made by item 1 of this Schedule applies to assessments in respect of the year of income in which 1 July 1997 occurs and of all later years of income.
(2) The amendment made by item 2 of this Schedule applies in relation to dividends paid or received by a prescribed dual resident on or after 1 July 1997.
(3) The amendment made by item 3 of this Schedule applies in relation to the year of income for the loss company in which 1 July 1997 occurred and all later years of income.
(4) The amendment made by item 4 of this Schedule applies in relation to the year of income for the income company in which 1 July 1997 occurred and all later years of income.
(5) The amendments made by items 5 to 8 of this Schedule apply in relation to interest incurred or accrued on or after 1 July 1997.
(6) The amendment made by item 9 of this Schedule applies in relation to the year of income for the loss company in which 1 July 1997 occurred and all later years of income.
(7) The amendment made by item 10 of this Schedule applies in relation to the year of income for the gain company in which 1 July 1997 occurred and all later years of income.
(8) The amendments made by items 11 to 13 of this Schedule apply in relation to asset transfers undertaken on or after 1 July 1997.
Schedule 4
3 Application
The amendments made by this Schedule apply to assessments in respect of the year of income after the year in which 20 August 1996 occurs and of all later years of income.
4 Transitional
If a taxpayer elects that subsection 82AAC(2D) of the Income Tax Assessment Act 1936 is to apply for the year of income in which 20 August 1996 occurs:
(a) the total deductions allowed under subsection 82AAC(1) of that Act for contributions made by the taxpayer, or by the taxpayer and one or more of the associates of the taxpayer in respect of a particular employee, must not exceed the greater of:
(i) the amounts contributed at or before 7.30 pm, by legal time in the Australian Capital Territory, on 20 August 1996; and
(ii) the employee’s deduction limit for that year of income; and
(b) the total deductions allowed under subsection 82AAC(1) of that Act for contributions made by the taxpayer, or by the taxpayer and one or more of the associates of the taxpayer in respect of all the employees, must not exceed the elective deduction limit worked out under subsection 82AAC(2D) for that year of income.
Schedule 5
18 Application
The amendment made by this Part applies to interest paid on or after 1 January 1996.
21 Application
The amendments made by this Part, so far as they affect section 160ZZY of the Income Tax Assessment Act 1936, apply to foreign tax paid after the commencement of this Part.
Tax Law Improvement Act 1997 (No. 121, 1997)
4 Application of amendments
An amendment made by an item in a Schedule (except Schedule 1) applies to assessments for the 1997‑98 income year and later income years, unless otherwise indicated in that Schedule.
Schedule 2
31 Application of amendment of subsection 221A(1) (definition of salary or wages)
Section 4 of this Act does not apply to the amendment made by item 30.
33 Saving of regulations made for purposes of subsection 221C(1AC) of the Income Tax Assessment Act 1936
The amendment of subsection 221C(1AC) of the Income Tax Assessment Act 1936 does not affect the validity of regulations prescribing rates of deduction specifically for salary or wages that are amounts to which paragraph 26(eb) of that Act applies.
Schedule 3
47 Application of amendments of section 102M
The amendments made by items 45 and 46 apply for the purpose of determining whether a trust is a public trading trust or a public unit trust in relation to the 1997‑98 income year or a later income year.
52 Application of amendment of paragraph 128B(3)(a)
The amendment made by item 51 applies to income derived on or after 1 July 1997.
56 Application of amendment of subsection 159ZR(1) (paragraph (e) of the definition of eligible income)
The amendment made by item 55 applies for the purpose of determining whether a lump sum payment is eligible income in the 1997‑98 income year or a later income year.
59 Application of amendment of subsection 221A(1) (definition of salary or wages)
Section 4 of this Act does not apply to the amendment made by item 58.
Schedule 4
78 Application of amendment of subsection 51AG(1)
Section 4 of this Act does not apply to the amendment made by item 77.
Taxation Laws Amendment Act (No. 1) 1997 (No. 122, 1997)
Schedule 1
16 Application
(1) The amendments made by this Part, other than items 14 and 15, apply to amounts received on or after 1 July 1996.
(2) The amendments made by items 14 and 15 apply to payments made after the 28th day after the day on which this Part commences.
21 Application
Item 20 applies in respect of statutory accounting periods of a controlled foreign company that began or begin on or after 1 July 1990.
Schedule 3
22 Application
(1) Part 4 of Schedule 2 to the Taxation Laws Amendment Act (No. 2) 1995 applies in the same way to the amendments made by items 1, 7, 8, 9, 11, 12, 13, 14, 16, 17 and 19 of this Schedule as it applied to the amendments made by Schedule 2 to that Act.
(2) The amendments made by items 2 and 15 apply to shares acquired on or after the day that this Act receives the Royal Assent.
(3) The amendments made by items 3, 4 and 5 apply in relation to shares acquired on or after 20 September 1985.
(4) The amendments made by items 6, 10 and 18 apply to shares or rights acquired on or after 1 July 1996.
(5) The amendments made by items 20 and 21 apply in relation to options exercised on or after 20 September 1985.
23 Transitional—market value of shares and rights
For the purposes of Division 13A of Part III of the Income Tax Assessment Act 1936, the market value of a share or right on a particular day on or after 28 March 1995 and before 12 December 1996 where the share or right is quoted on a share market of an approved stock exchange on that day may be determined under whichever of the following is chosen by the relevant taxpayer:
(a) section 139FA of the Income Tax Assessment Act 1936 as amended by this Schedule;
(b) section 139FA of the Income Tax Assessment Act 1936 before being amended by this Schedule.
Schedule 5
5 Application
The Division inserted in the Income Tax Assessment Act 1936 by item 1 applies to disposals of assets on or after 1 July 1997.
Schedule 8
6 Application
The amendments made by this Part apply where the taxpayer acquired a threshold interest in an SME on or after 1 July 1996.
Franchise Fees Windfall Tax (Consequential Amendments) Act 1997
(No. 134, 1997)
4 Application of amendments
(1) The amendments of the Income Tax Assessment Act 1936 apply to the 1996‑97 year of income.
(2) The amendments of the Income Tax Assessment Act 1997 apply to the 1997‑98 year of income and to all later years of income.
Taxation Laws Amendment Act (No. 3) 1997 (No. 147, 1997)
Schedule 1
45 Application
The amendments made by this Schedule apply to disposals of assets on or after 1 July 1997.
Schedule 3
5 Application
The amendments made by this Schedule apply in relation to the 1996‑97 year of income and to all later years of income.
Schedule 4
3 Application
The amendments made by Part 1 apply if the transition time is after 2 July 1995.
Schedule 5
34 Application
(1) The amendments made by Divisions 1 and 2 of Part 1 apply to disposals of dwellings after 7.30 pm, by legal time in the Australian Capital Territory, on 20 August 1996.
(2) The amendments made by Division 3 of Part 1 apply to assets that pass to the legal personal representative of a deceased person, to a beneficiary in the estate of a deceased person or to a trustee of the estate of a deceased person, after 7.30 pm, by legal time in the Australian Capital Territory, on 20 August 1996.
(3) The amendments made by Division 4 of Part 1 apply to a dwelling owned by a taxpayer if:
(a) for the first time since the taxpayer acquired the dwelling, it is used for the purpose of gaining or producing assessable income; and
(b) that time is after 7.30 pm, by legal time in the Australian Capital Territory, on 20 August 1996.
Schedule 6
9 Application
The amendments made by this Part apply in respect of years of income in which proceeds are derived as a result of firearms surrender arrangements.
Note: Firearms surrender arrangements has the meaning given by subsection 6(1) of the Income Tax Assessment Act 1936.
Schedule 8
3 Application
The amendments made by this Schedule apply in relation to units of property first used on or after 1 July 1996 for the purposes of producing assessable income of the lessor of the property.
Schedule 10
6 Application
(1) The amendments made by items 1, 2, 4 and 5 of this Schedule apply to contributions made on or after 1 July 1997.
(2) The amendment made by item 3 of this Schedule applies to provisional tax (including instalments) payable in respect of income of the 1997‑98 year of income and all later years of income.
Schedule 11
12 Application
The amendments made by items 1 to 11 are taken to have come into effect at 5 pm, by legal time in the Australian Capital Territory, on 23 July 1996.
Schedule 13
2 Application
The amendments made by this Schedule apply if the cancellation of the transferee’s total shares took place after 7.30 pm, by legal time in the Australian Capital Territory, on 20 August 1996.
Schedule 14
17 Application
(1) The amendments made by this Part apply to the 1996‑97 year of income.
(2) However, the amendments made by items 5 to 15 have effect only in respect of acts, omissions or events happening after 26 March 1997.
41 Application
(1) Subject to this item, the amendments made by the items in this Part apply to the 1996‑97 year of income and to any later years of income to which the provisions respectively amended by those items apply.
(2) The amendments made by items 18 to 24 apply to the 1996‑97 year of income and to any later years of income to which the provisions respectively amended by those items apply, but have effect only in respect of acts, omissions or events happening after 26 March 1997.
(3) The references in subsection 160ZNS(3) of the Income Tax Assessment Act 1936 to a company starting to carry on a business or entering into a transaction are references to the company starting to carry on a business or entering into a transaction after 7.30 pm, by legal time in the Australian Capital Territory, on 20 August 1996.
(4) The reference in subsection 160ZNS(4) of the Income Tax Assessment Act 1936 to a company incurring expenditure is a reference to the company incurring expenditure after 7.30 pm, by legal time in the Australian Capital Territory, on 20 August 1996.
(5) The amendment made by item 35 does not permit the Commissioner to amend an assessment made before 26 March 1997 unless the Commissioner could have made the amendment on that date.
Schedule 17
3 Application
(1) Part 4 of Schedule 2 to the Taxation Laws Amendment Act (No. 2) 1995 applies in the same way to the amendment made by item 1 of this Schedule as it applied to the amendments made by Schedule 2 to that Act.
(2) The amendment made by item 2 of this Schedule applies to shares or rights acquired on or after 1 July 1996.
Taxation Laws Amendment (Foreign Income Measures) Act 1997
(No. 155, 1997)
Schedule 1
120 Application of amendments—section 23AH of the Income Tax Assessment Act 1936
(1) The amendment of subsection 23AH(1) of the Income Tax Assessment Act 1936 made by this Schedule applies to foreign income derived on or after 1 July 1997.
(2) The amendments of subsections 23AH(6) and (7) of the Income Tax Assessment Act 1936 made by this Schedule apply to disposals of assets on or after 1 July 1997.
(3) The amendments of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to subsections 23AH(1) and (5) of that Act, apply to foreign income derived on or after 1 July 1997.
(4) The amendments of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to subsections 23AH(6) and (7) of that Act, apply to disposals of assets on or after 1 July 1997.
121 Application of amendments—section 23AJ of the Income Tax Assessment Act 1936
The amendments of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to section 23AJ of that Act, apply to dividends paid on or after 1 July 1997.
122 Application of amendments—sections 47A and 108 of the Income Tax Assessment Act 1936
The amendments of Division 1 of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to sections 47A and 108 of that Act, apply to a distribution time that occurs on or after 1 July 1997.
123 Application of amendments—Division 6AAA of Part III of the Income Tax Assessment Act 1936
(1) The amendments of Subdivision B of Division 6AAA of Part III of the Income Tax Assessment Act 1936 made by this Schedule apply in relation to a distributed amount of a trust estate’s non‑resident year of income beginning on or after 1 July 1997.
(2) The amendments of Subdivision A of Division 6AAA of Part III and Division 1 of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to Subdivision B of Division 6AAA of Part III of that Act, apply in relation to a distributed amount of a trust estate’s non‑resident year of income beginning on or after 1 July 1997.
(3) The amendments of Subdivision D of Division 6AAA of Part III of the Income Tax Assessment Act 1936 made by this Schedule apply in relation to the calculation of the attributable income of a non‑resident trust estate of a year of income beginning on or after 1 July 1997.
(4) The amendments of Subdivision A of Division 6AAA of Part III and Division 1 of Part X of the Income Tax Assessment Act 1936, in so far as they are relevant to Subdivision D of Division 6AAA of Part III of that Act, apply in relation to the calculation of the attributable income of a non‑resident trust estate of a year of income beginning on or after 1 July 1997.
(5) For the purposes of this item, in determining the beginning of a year of income of a trust estate, subsection 6(2) of the Income Tax Assessment Act 1936 is to be disregarded.
124 Application of amendments—Division 18 of Part III of the Income Tax Assessment Act 1936
(1) The amendments of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to sections 160AFC and 160AFCC of that Act, apply in relation to dividends paid on or after 1 July 1997.
(2) The amendment of section 160AFCA of the Income Tax Assessment Act 1936 made by this Schedule applies in relation to statutory accounting periods beginning on or after 1 July 1997.
125 Application of amendments—Part IIIA of the Income Tax Assessment Act 1936
(1) The amendments of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to subsections 160M(12A), (12AA) and (12AB) of that Act, apply in relation to a residence‑change time that occurs on or after 1 July 1997.
(2) The amendments of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to section 160ZFB of that Act, apply in relation to a residence‑change time that occurs on or after 1 July 1997.
126 Application of amendments—Part X of the Income Tax Assessment Act 1936
(1) The amendments of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to the calculation of the attributable income of a CFC, apply in relation to the calculation of attributable income for eligible periods beginning on or after 1 July 1997.
(2) The amendments of section 377 of the Income Tax Assessment Act 1936 made by this Schedule apply in relation to an accounting period that began on or after 1 July 1997.
(3) The amendments of Division 1 of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to sections 377 and 378 of that Act, apply in relation to an accounting period that began on or after 1 July 1997.
(4) The amendments of Division 1 of Part X of the Income Tax Assessment Act 1936 made by this Part, in so far as they are relevant to section 380 of that Act, apply to dividends paid on or after 1 July 1997.
(5) The amendments of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to determining whether a company passes the active income test in relation to a statutory accounting period, apply in relation to statutory accounting periods beginning on or after 1 July 1997.
(6) The amendments of Division 1 of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to subsection 456(2) of that Act, apply in relation to a change of residence that occurs on or after 1 July 1997.
(7) The amendments of section 456A of the Income Tax Assessment Act 1936 made by this Schedule apply in relation to a statutory accounting period beginning on or after 1 July 1997.
(8) The amendments of Division 1 of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to section 456A of that Act, apply in relation to a statutory accounting period beginning on or after 1 July 1997.
(9) The amendment of section 457 of the Income Tax Assessment Act 1936 made by this Schedule applies in relation to a residence‑change time that occurs on or after 1 July 1997.
(10) The amendments of Division 1 of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to section 457 of that Act, apply in relation to a residence‑change time that occurs on or after 1 July 1997.
(11) The amendments of Division 1 of Part X of the Income Tax Assessment Act 1936 made by this Schedule, in so far as they are relevant to sections 458 and 459 of that Act, apply in relation to dividends paid on or after 1 July 1997.
127 Transitional—when regulations may take effect
(1) If the first regulations made for the purposes of a provision of the Income Tax Assessment Act 1936 inserted by this Schedule are made before the commencement of the Legislative Instruments Act 1997, those regulations may be expressed:
(a) to have been in effect at all relevant times before the date of notification of the regulations; or
(b) to apply in relation to a period any part of which occurred before the date of notification of the regulations; or
(c) to take effect from:
(i) a specified date; or
(ii) a specified time on a specified date;
before the date of notification of the regulations.
(2) Subitem (1) has effect despite anything in the Acts Interpretation Act 1901.
(3) If the first regulations made for the purposes of a provision of the Income Tax Act Assessment 1936 inserted by this Schedule are made after the commencement of the Legislative Instruments Act 1997, those regulations may be expressed:
(a) to have been in effect at all relevant times before the day on which the regulations were entered in the Federal Register of Legislative Instruments; or
(b) to apply in relation to a period any part of which occurred before the day on which the regulations were entered in the Federal Register of Legislative Instruments; or
(c) to take effect from:
(i) a specified date; or
(ii) a specified time on a specified date;
before the day on which the regulations were entered in the Federal Register of Legislative Instruments.
(4) Subitem (3) has effect despite anything in the Legislative Instruments Act 1997.
128 Transitional—Vietnam and the Czech Republic
(1) For the purposes of this item, the transitional period is the period:
(a) beginning on 24 December 1996; and
(b) ending at the end of 30 June 1997.
(2) For the purposes of sections 47A, 458 and 459 of the Income Tax Assessment Act 1936, Vietnam and the Czech Republic are taken to have been listed countries throughout the transitional period.
(3) For the purposes of sections 23AH, 23AJ and 380 of the Income Tax Assessment Act 1936, the Czech Republic is taken to have been a listed country throughout the transitional period.
129 Transitional—countries that emerged on the dissolution of Czechoslovakia, the USSR or Yugoslavia
(1) For the purposes of this item, each of the following is a designated country:
(a) Armenia;
(b) Azerbaijan;
(c) Belarus;
(d) Bosnia and Herzegovina;
(e) Croatia;
(f) Czech Republic;
(g) Estonia;
(h) Federal Republic of Yugoslavia;
(i) Former Yugoslav Republic of Macedonia;
(j) Georgia;
(k) Kazakstan;
(l) Kyrgyzstan;
(m) Latvia;
(n) Lithuania;
(o) Moldova;
(p) Russian Federation;
(q) Slovak Republic;
(r) Slovenia;
(s) Tajikistan;
(t) Turkmenistan;
(u) Ukraine;
(v) Uzbekistan.
(2) An entity may, by writing, elect that this item applies to the entity.
(3) If:
(a) an election is made by a company under subitem (2); and
(b) at the time when the election is made, the company is related to one or more other companies that are Part X Australian residents;
the election has no effect unless that other company, or each of those other companies, as the case requires, also make or makes an election under subitem (2).
(4) If an election is made by an entity under subitem (2), the amount included in the entity’s assessable income under section 456 of the Income Tax Assessment Act 1936 in relation to a particular CFC is to be determined as if each designated country were a listed country throughout each statutory accounting period of the CFC that began before 24 December 1996.
(5) If an election is made by an entity under subitem (2), then, for the purposes of the application of the Income Tax Assessment Act 1936 to a company that, apart from this subitem, is a resident of a designated country (other than the Czech Republic) during the whole or a part of the interim period, the exempting profits, in relation to the entity, of the company during the interim period are to be determined as if the company were a resident of an unlisted country throughout the interim period. For this purpose, the interim period is the period:
(a) beginning on 24 December 1996; and
(b) ending at the end of the accounting period of the company in which 24 December 1996 occurs.
(6) If an election is made by an entity under subitem (2), the assessable income of the entity is to be determined as if each designated country were a listed country for the purposes of sections 23AH, 23AJ, 47A, 380, 457, 458 and 459 of the Income Tax Assessment Act 1936 at all times before 24 December 1996.
(7) If an election is made by an entity under subitem (2), the amount included in the entity’s assessable income under section 102AAZD of the Income Tax Assessment Act 1936 in relation to a particular trust estate is to be determined as if each designated country were a listed country throughout each year of income of the trust estate that began before 24 December 1996.
(9) For the purposes of this item, the question whether companies are related to each other is to be determined in accordance with section 160G of the Income Tax Assessment Act 1936.
(10) An election under subitem (2) is irrevocable.
(11) An expression used in this item and in Part X of the Income Tax Assessment Act 1936 has the same meaning in this item as it has in that Part.
Schedule 2
5 Application
The amendments made by this Schedule apply in relation to notional accounting periods beginning on or after 1 January 1997.
Taxation Laws Amendment Act (No. 4) 1997 (No. 174, 1997)
Schedule 1
17 Application of amendments
The amendments made by this Schedule apply in relation to the 1997‑98 year of income and all later years of income.
18 Transitional—taxpayers with substituted accounting periods
Late balancing taxpayers
(1) If the 1996‑97 year of income of a taxpayer ends on a day after 30 June 1997, Division 16F of Part III of the Income Tax Assessment Act 1936 applies as if:
(a) so much of the year of income as occurs on or before 30 June 1997 were one year of income (the first notional year) and so much of the year of income as occurs after that date were a separate year of income (the second notional year); and
(b) the foreign equity of the taxpayer for the first notional year and the second notional year were equal to the amount that would be the foreign equity of the taxpayer for the 1996‑97 year of income; and
(c) the amendments made by this Schedule applied in relation to the second notional year (as well as in relation to the years specified in item 17) and for the purpose of working out the foreign equity for the purposes of paragraph (b); and
(d) for the purposes of the application of whichever of subsections 159GZS(3), 159GZT(4), 159GZU(3), 159GZV(3) and 159GZW(3) of the Income Tax Assessment Act 1936 are applicable, in relation to both the first notional year and the second notional year, the term Days in year of income were defined to mean 365.
Early balancing taxpayers
(2) If the 1997‑98 year of income of a taxpayer ends on a day before 30 June 1998, Division 16F of Part III of the Income Tax Assessment Act 1936 applies as if:
(a) so much of the year of income as occurs on or before 30 June 1997 were one year of income (the first notional year) and so much of the year of income as occurs after that date were a separate year of income (the second notional year); and
(b) the foreign equity of the taxpayer for the first notional year and the second notional year were equal to the amount that would be the foreign equity of the taxpayer for the 1997‑98 year of income; and
(c) the amendments made by this Schedule applied in relation to the second notional year but not in relation to the first notional year and for the purpose of working out the foreign equity for the purposes of paragraph (b); and
(d) for the purposes of the application whichever of subsections 159GZS(3), 159GZT(4), 159GZU(3), 159GZV(3) and 159GZW(3) of the Income Tax Assessment Act 1936 are applicable, in relation to both the first notional year and the second notional year, the term Days in year of income were defined to mean 365.
Schedule 2
6 Application
The amendments made by this Schedule apply in relation to dividends paid on or after 3 February 1997.
Schedule 3
3 Application
The amendments made by Part 1 apply in relation to employees who cease to be employed on or after the 28th day after the day on which this Act receives the Royal Assent.
Schedule 4
8 Application
The amendments made by Part 1 apply if the transition time is after 2 July 1995.
9 Transitional—when election may be made
Despite paragraph 57‑45(c) of Schedule 2D to the Income Tax Assessment Act 1936 (as amended by this Act), if the transition time is before the end of the 28th day after the commencement of this item (the later time), the transition taxpayer may make a written election under that subparagraph at any time before the later time.
Schedule 5
11 Application
The amendments of the Income Tax Assessment Act 1936 made by items 1 to 4 and 6 to 10 of this Schedule apply in relation to income derived on or after 1 July 1997.
Schedule 6
23 Application
(2) The amendments made by Part 2 of this Schedule (apart from items 18 and 19) apply to assessments for the 1997‑98 year of income and later years of income.
(3) The amendments made by items 18 and 19 apply in relation to units of property first used on or after 1 July 1996 for the purposes of producing assessable income of the lessor of the property.
Schedule 7
32 Application of amendments
Income Tax
(1) The amendments made by this Schedule apply in relation to:
(a) returns, applications for amendments or other documents given to the Commissioner for the purposes of the Income Tax Assessment Act 1936 on or after 1 July 1998; and
(b) statements made for the purposes of the Income Tax Assessment Act 1936 on or after 1 July 1998; and
(c) payments made under the Income Tax Assessment Act 1936 on or after 1 July 1998.
Schedule 9
30 Application
(2) The amendments made by Part 2 of this Schedule (apart from item 25) apply to assessments for the 1997‑98 year of income and later years of income.
(3) The amendment made by item 25 applies in relation to leases to which Schedule 2E to the Income Tax Assessment Act 1936 applies.
Taxation Laws Amendment Act (No. 1) 1998 (No. 16, 1998)
Schedule 1
26 Application of amendments
The amendments made by this Part apply to disposals of assets on or after 1 July 1997.
58 Application of amendments
(1) The amendments made by items 32, 35 and 44 to 51 and 53 to 55 apply to disposals of assets after 23 October 1997.
(2) The amendment made by item 40 applies in respect of roll‑over assets acquired after 23 October 1997.
(3) The amendments made by items 31, 33, 34, 36 to 39, 41 to 43, 52, 56 and 57 apply to disposals of assets on or after 1 July 1997.
Schedule 6
17 Application
The amendments made by this Schedule (except items 2, 3 and 4) apply to assessments for the 1997‑98 year of income and later years of income.
Schedule 10
57 Application
(1) The amendments made by items 52 to 56 (inclusive) apply to a transition year that is the 1997‑98 income year, or a later income year, of the transition taxpayer.
(2) The other amendments made by this Part apply to assessments for the 1997‑98 income year and later income years.
Taxation Laws Amendment (Trust Loss and Other Deductions) Act 1998
(No. 17, 1998)
Schedule 1
13 Definitions
In this Division:
current year loss provisions means sections 266‑30, 266‑80, 266‑115, 266‑155 and 267‑60 of the trust loss etc. Schedule.
debt deduction provisions means sections 266‑35, 266‑85, 266‑120, 266‑160, 267‑25 and 267‑65 of the trust loss etc. Schedule.
earlier year loss provisions means sections 266‑25, 266‑75, 266‑110, 266‑150 and 267‑20 of the trust loss etc. Schedule.
foreign deduction scheme provision means subsection 160AFD(6B) of the Income Tax Assessment Act 1936 as amended by this Schedule.
foreign loss provision means subsection 160AFD(6A) of the Income Tax Assessment Act 1936 as amended by this Schedule.
loss provisions means the earlier year loss provisions and the current year loss provisions.
trust loss etc. Schedule means Schedule 2F to the Income Tax Assessment Act 1936 as amended by this Schedule.
1995 Budget time means 7.30 pm, by legal time in the Australian Capital Territory, on 9 May 1995.
1996 Budget time means 7.30 pm, by legal time in the Australian Capital Territory, on 20 August 1996.
1997 Budget time means 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 1997.
14 Application of loss provisions from 1994‑95 year of income
(1) Subject to this item, the loss provisions, together with any other provisions of the trust loss etc. Schedule in so far as they relate to the loss provisions, apply where the income year mentioned in the loss provisions is the 1994‑95 year of income or any later year of income.
Modified application of earlier year loss provisions: test period
(2) If the test period mentioned in any of the earlier year loss provisions would begin before 1995 Budget time, it is taken instead to begin at 1995 Budget time.
Modified application of earlier year loss provisions: non‑fixed trust distribution
(3) For the purposes of section 267‑20:
(a) if the income year mentioned in that section is the 1994‑95 year of income—the condition in subsection 267‑30(2) is to be disregarded; and
(b) if the income year mentioned in that section is the 1995‑96 year of income—the condition in subsection 267‑30(2) applies as if there were an additional requirement in section 269‑60 for at least part of one of the test year distributions of income or capital, as the case requires, mentioned in that section to have taken place after 28 September 1995.
Modified application of earlier year loss provisions: non‑fixed trust distribution
(4) For the purposes of section 267‑20, if:
(a) the whole or part of a test year distribution of income or capital of a trust that took place before 1995 Budget time is required to be taken into account in determining whether the trust meets the condition in subsection 267‑30(2); and
(b) apart from this subitem, the trust would not meet the condition; and
(c) before the end of:
(i) if subitem (5) applies—the income year; or
(ii) in any other case—2 months after the end of the income year;
mentioned in subsection 267‑30(2), the whole or part of any of the test year distributions of income or capital (whether taking place before or after 1995 Budget time), required to be taken into account in determining whether the trust meets the condition in subsection 267‑30(2), was made directly or indirectly to an individual, for his or her own benefit; and
(d) the trust would meet the condition in subsection 267‑30(2) if all test year distributions of income or capital (whether taking place before or after 1995 Budget time), required to be taken into account in determining whether the trust meets the condition in subsection 267‑30(2), that were made directly or indirectly, and for his or her own benefit, to any member of the family (within the meaning of section 272‑95) of the individual mentioned in paragraph (c) of this subitem, had instead been made to the individual (in addition to any such distribution actually made to the individual);
the trust meets the condition.
Modified application of earlier year loss provisions: non‑fixed trust distribution
(5) For the purposes of section 267‑20, if:
(a) the income year mentioned in that section is the 1995‑96 year of income; or
(b) the income year mentioned in that section is the 1996‑97 year of income and it ends on or before 1 October 1997;
the following modifications of other provisions apply:
(c) section 267‑30 has effect as if “or within 2 months after its end” were omitted from subparagraphs (1)(a)(i) and (b)(i) of that section; and
(d) sections 269‑60 and 269‑75 have effect as if “2 months after the end of” were omitted (wherever occurring); and
(e) section 269‑65 has effect as if “until 2 months after” were omitted from paragraph (1)(a) of that section.
Case where current year loss provisions do not apply
(6) If:
(a) the income year mentioned in the current year loss provisions is the 1994‑95 year of income; and
(b) the income year ends before 1995 Budget time:
the current year loss provisions do not apply to the income year.
Modified application of current year loss provisions
(7) If the current year loss provisions apply where the income year mentioned in those provisions is the 1994‑95 year of income, they apply as if:
(a) no abnormal trading in a trust’s units had occurred, in the 1994‑95 year of income, before 1995 Budget time; and
(b) fixed entitlements of individuals directly or indirectly to receive income or capital of the trust that existed immediately before the 1995 Budget time had existed at all times, in the 1994‑95 year of income, before 1995 Budget time; and
(c) control of the trust that existed at 1995 Budget time had existed at all times, in the 1994‑95 year of income, before 1995 Budget time; and
(d) at all times in the 1994‑95 year of income, before 1995 Budget time, the trust were the same kind of trust as it was at 1995 Budget time.
15 Application of debt deduction provisions from 1996‑97 year of income
(1) Subject to this item, the debt deduction provisions, together with any other provisions of the trust loss etc. Schedule in so far as they relate to the debt deduction provisions, apply where the income year mentioned in the debt deduction provisions is the 1996‑97 year of income or any later year of income.
Modified application: test period
(2) If the test period mentioned in any of the debt deduction provisions would begin before 1996 Budget time, it is taken instead to begin at 1996 Budget time.
Modified application: non‑fixed trust distribution
(3) For the purposes of section 267‑25, if the income year mentioned in that section is the 1996‑97 year of income, the condition in subsection 267‑30(2) applies as if there were an additional requirement in section 269‑60 for at least part of one of the test year distributions of income or capital, as the case requires, mentioned in that section to have taken place after 1996 Budget time.
Modified application: non‑fixed trust distribution
(4) For the purpose of section 267‑25, if:
(a) the whole or part of a test year distribution of income or capital of a trust that took place before 1996 Budget time is required to be taken into account in determining whether the trust meets the condition in subsection 267‑30(2); and
(b) apart from this subitem, the trust would not meet the condition; and
(c) before the end of:
(i) if subitem (5) applies—the income year; or
(ii) in any other case—2 months after the end of the income year;
mentioned in subsection 267‑30(2), the whole or part of any of the test year distributions of income or capital (whether taking place before or after 1996 Budget time), required to be taken into account in determining whether the trust meets the condition in subsection 267‑30(2), was made, directly or indirectly to an individual, for his or her own benefit; and
(d) the trust would meet the condition in subsection 267‑30(2) if all test year distributions of income or capital (whether taking place before or after 1996 Budget time), required to be taken into account in determining whether the trust meets the condition in subsection 267‑30(2), that were made directly or indirectly, and for his or her own benefit, to any member of the family (within the meaning of section 272‑95) of the individual mentioned in paragraph (c) of this subitem, had instead been made to the individual (in addition to any such distribution actually made to the individual);
the trust meets the condition.
Modified application: non‑fixed trust distribution
(5) For the purposes of section 267‑25, if the income year mentioned in that section is the 1996‑97 year of income and it ends on or before 1 October 1997, the following modifications of other provisions apply:
(a) section 267‑30 has effect as if “or within 2 months after its end” were omitted from subparagraphs (1)(a)(i) and (b)(i) of that section; and
(b) sections 269‑60 and 269‑75 have effect as if “2 months after the end of” were omitted (wherever occurring); and
(c) section 269‑65 has effect as if “until 2 months after” were omitted from paragraph (1)(a) of that section.
16 Application of scheme provisions from 1994‑95 year of income
Division 270 of the trust loss etc. Schedule applies where the income year mentioned in that Division is the 1994‑95 year of income or any later year of income, but only if:
(a) the assessable income mentioned in subparagraph 270‑10(1)(b)(i) was derived after 1995 Budget time; and
(b) the benefit mentioned in subparagraph 270‑10(1)(b)(ii) was provided after 1995 Budget time.
17 Application of expanded definition of distribution
Section 272‑60 of the trust loss etc. Schedule applies to things done after 1 October 1997.
18 Application of new section 63G
The amendment made by item 2 applies to assessments for the 1996‑97 year of income and all later years of income.
19 Application of foreign loss provision from 1996‑97 year of income
(1) Subject to this item, the foreign loss provision applies where the particular year of income mentioned in that provision is the 1996‑97 year of income or any later year of income.
Modified application: test period
(2) If, for the purposes of the foreign loss provision, the test period mentioned in any of the earlier year loss provisions would begin on or before 1 October 1997, it is taken for that purpose to begin on 2 October 1997
Modified application: non‑fixed trust distribution
(3) If, for the purposes of the foreign loss provision, the income year mentioned in subsection 267‑30(2) is the 1996‑97 year of income, the condition in that subsection applies as if there were an additional requirement in section 269‑60 for at least part of one of the test year distributions of income or capital, as the case requires, mentioned in that section to have taken place after 1 October 1997.
Modified application: non‑fixed trust distribution
(4) If, for the purposes of the foreign loss provision:
(a) the whole or part of a test year distribution of income or capital of a trust that took place on or before 1 October 1997 is required to be taken into account in determining whether the trust meets the condition in subsection 267‑30(2); and
(b) apart from this subitem, the trust would not meet the condition; and
(c) before the end of:
(i) if subitem (5) applies—the income year; or
(ii) in any other case—2 months after the end of the income year;
mentioned in subsection 267‑30(2), the whole or part of any of the test year distributions of income or capital (whether taking place before, on or after 1 October 1997), required to be taken into account in determining whether the trust meets the condition in subsection 267‑30(2), was made directly or indirectly to an individual, for his or her own benefit; and
(d) the trust would meet the condition in subsection 267‑30(2) if all test year distributions of income or capital (whether taking place before, on or after 1 October 1997), required to be taken into account in determining whether the trust meets the condition in subsection 267‑30(2), that were made directly or indirectly, and for his or her own benefit, to any member of the family (within the meaning of section 272‑95) of the individual mentioned in paragraph (c) of this subitem, had instead been made to the individual (in addition to any such distribution actually made to the individual);
the trust meets the condition.
Modified application: non‑fixed trust distribution
(5) For the purposes of the foreign loss provision, if the income year mentioned in that section is the 1996‑97 year of income and it ends on or before 1 October 1997, the following modifications of other provisions apply:
(c) section 267‑30 has effect as if “or within 2 months after its end” were omitted from subparagraphs (1)(a)(i) and (b)(i) of that section; and
(d) sections 269‑60 and 269‑75 have effect as if “2 months after the end of” were omitted (wherever occurring); and
(e) section 269‑65 has effect as if “until 2 months after” were omitted from paragraph (1)(a) of that section.
20 Application of foreign deduction scheme provision from 1996‑97 year of income
The foreign deduction scheme provision applies where the particular year of income mentioned in that provision is the 1996‑97 year of income or any later year of income, but only if:
(a) the assessable income mentioned in subparagraph 270‑10(1)(b)(i) was derived after 1 October 1997; and
(b) the benefit mentioned in subparagraph 270‑10(1)(b)(ii) was provided after 1 October 1997.
21 Application of amendments of subsections 170(10) and 170(13)
The amendments made by items 10 and 11 apply to assessments made either before or after the commencement of those items.
22 Transitional—family trust elections
(1) Subject to this item and item 22A, a family trust election that is proposed to be made cannot specify a year of income under subsection 272‑80(1) of the trust loss etc. Schedule that is before the 1997‑98 year of income.
(2) If:
(a) a family trust election can be made in accordance with subsection 272‑80(2) of the trust loss etc. Schedule specifying the 1998‑99 year of income; and
(b) assuming that the family trust election could instead specify the 1996‑97 year of income or the 1997‑98 year of income (the qualifying year of income):
(i) a company that would otherwise be prevented, by section 63B or 63C of the Income Tax Assessment Act 1936 from deducting in the qualifying year of income an amount in respect of a debt would not be so prevented; or
(ii) a company that would otherwise be prevented by subsection 160ZC(5) of the Income Tax Assessment Act 1936 from applying a net capital loss in the qualifying year of income would not be so prevented; or
(iii) a company that would otherwise be prevented by Subdivision 165‑A, 175‑A or 175‑B of the Income Tax Assessment Act 1997 from deducting an amount in the qualifying year of income would not be so prevented; or
(iv) a company that would otherwise be required to calculate its taxable income for the qualifying year of income in accordance with section 50C of the Income Tax Assessment Act 1936 would not be so required; or
(v) a company that would otherwise not be entitled, in calculating its taxable income for the qualifying year of income in accordance with section 50C of the Income Tax Assessment Act 1936, to take into account an amount, by reason of subsection 50D(2), in ascertaining the eligible notional loss of the company under section 50D, would be so entitled; or
(vi) a company that would otherwise be required to calculate its taxable income and tax loss for the qualifying year of income under Subdivision 165‑B of the Income Tax Assessment Act 1997 would not be so required; and
(c) the trust concerned passes the family control test (see section 272‑87 of the trust loss etc. Schedule):
(i) if the qualifying year of income is the 1996‑97 year of income—at all times from the beginning of that year of income until the end of the 1997‑98 year of income; or
(ii) if the qualifying year of income is the 1997‑98 year of income—at the end of the 1997‑98 year of income; and
(d) the Taxation Laws Amendment Act (No. 2) 2000 receives the Royal Assent:
(i) if the trustee is required to furnish a return for the 1998‑99 year of income—before the time when the trustee furnishes the return; or
(ii) if the trustee is not required to furnish a return for the 1998‑99 year of income—before the end of 2 months after the end of that year of income;
the election can instead specify the qualifying year of income.
(2A) If:
(a) a family trust election can be made in accordance with subsection 272‑80(2) of the trust loss etc. Schedule in relation to a non‑fixed trust (within the meaning of section 272‑70 of the trust loss etc. Schedule) specifying the 1998‑99 year of income; and
(b) a franked dividend or a franked distribution (both within the meaning of section 177EA of the Income Tax Assessment Act 1936) was included in the assessable income of the trust of the 1997‑98 year of income (the qualifying year of income); and
(c) the trust passes the family control test at the end of the 1997‑98 year of income; and
(d) the Taxation Laws Amendment Act (No. 2) 1999 and the Taxation Laws Amendment Act (No. 2) 2000 receive the Royal Assent:
(i) if the trustee is required to furnish a return for the 1998‑99 year of income—before the time when the trustee furnishes the return; or
(ii) if the trustee is not required to furnish a return for the 1998‑99 year of income—before the end of 2 months after the end of that year of income;
the election can instead specify the qualifying year of income.
(3) A family trust election specifying the qualifying year of income in accordance with subitem (2) or (2A) must:
(a) be in writing in a form and manner approved by the Commissioner; and
(b) be made:
(i) if the trustee is required to furnish a return for the 1998‑99 year of income—by the time when the trustee furnishes the return; or
(ii) if the trustee is not required to furnish a return for the 1998‑99 year of income—before the end of 2 months after the end of that year of income or before the end of such later day as the Commissioner allows.
(4) If a family trust election is made in accordance with subitem (3) specifying the qualifying year of income:
(a) if the trustee is required to furnish a return for the 1998‑99 year of income—such information about the election as is required by the return must be included in the return; and
(b) if the trustee is not required to furnish a return for that year of income—the trustee must, before the end of 2 months after the end of the 1998‑99 year of income or before the end of such later day as the Commissioner allows, give the Commissioner such information about the election as the Commissioner, by notice in the Gazette, requires.
(5) If:
(a) a family trust election does specify the qualifying year of income in accordance with this item; and
(b) the trust concerned is not prevented by the trust loss etc. Schedule from deducting a tax loss, or an amount in respect of a debt, and is not required to work out its net income and tax loss under Division 268 of that Schedule in:
(i) if the qualifying year is the 1996‑97 year of income—that year of income, the 1997‑98 year of income or both (the excluded period); or
(ii) if the qualifying year mentioned in that subitem is the 1997‑98 year of income—that year of income (also the excluded period);
no liability to pay family trust distribution tax arises under Division 271 of the trust loss etc. Schedule in respect of a conferral of a present entitlement to, or a distribution of, income or capital that took place in the excluded period.
(6) If the revocation of a family trust election is proposed to specify a time under subsection 272‑80(8) that is before the beginning of the 1998‑99 year of income, then:
(a) subsection 272‑80(7) of the trust loss etc. Schedule does not apply to the revocation; and
(b) if the trustee is required to furnish a return for the 1998‑99 year of income—the revocation must be made in the trust’s return of income for that year of income; and
(c) if the trustee is not required to furnish a return for that year of income—the revocation must:
(i) be in writing in a form approved by the Commissioner; and
(ii) be given to the Commissioner by the end of 2 months after the end of that year of income or before the end of such later day as the Commissioner allows.
22A Transitional—family trust elections
(1) If:
(a) a family trust election can be made in accordance with subsection 272‑80(2) of the trust loss etc. Schedule specifying the 1999‑2000 year of income; and
(b) assuming that a family trust election could specify the 1996‑97 year of income, the 1997‑98 year of income or the 1998‑1999 year of income (the qualifying year of income):
(i) a company that would otherwise be prevented, by section 63B or 63C of the Income Tax Assessment Act 1936 or by Subdivision 165‑C or 175‑C of the Income Tax Assessment Act 1997, from deducting in the qualifying year of income an amount in respect of a debt would not be so prevented; or
(ii) a company that would otherwise be prevented by Subdivision 165‑A, 175‑A or 175‑B of the Income Tax Assessment Act 1997 from deducting an amount in the qualifying year of income would not be so prevented; or
(iii) a company that would otherwise be required to calculate its taxable income for the qualifying year of income in accordance with section 50C of the Income Tax Assessment Act 1936 would not be so required; or
(iv) a company that would otherwise not be entitled, in calculating its taxable income for the qualifying year of income in accordance with section 50C of the Income Tax Assessment Act 1936, to take into account an amount, by reason of subsection 50D(2), in ascertaining the eligible notional loss of the company under section 50D, would be so entitled; or
(v) a company that would otherwise be required to calculate its taxable income and tax loss for the qualifying year of income under Subdivision 165‑B of the Income Tax Assessment Act 1997 would not be so required; or
(vi) a company that would otherwise be prevented by Subdivision 165‑CA or 175‑CA of the Income Tax Assessment Act 1997 from applying in the qualifying year a net capital loss from an earlier year of income would not be so prevented; or
(vii) a company that would otherwise be required to calculate its net capital gain and net capital loss for the qualifying year under Subdivision 165‑CB or 175‑CB of the Income Tax Assessment Act 1997 would not be so required; and
(c) the trust concerned passes the family control test (see section 272‑87 of the trust loss etc. Schedule):
(i) if the qualifying year of income is the 1996‑97 year of income or the 1997‑98 year of income—at all times from the beginning of that year of income until the end of the 1998‑99 year of income; or
(ii) if the qualifying year of income is the 1998‑99 year of income—at the end of the 1998‑99 year of income; and
(d) the Taxation Laws Amendment Act (No. 2) 2000 receives the Royal Assent:
(i) if the trustee is required to furnish a return for the 1998‑99 year of income—after the time when the trustee furnishes the return; or
(ii) if the trustee is not required to furnish a return for the 1998‑99 year of income—after the end of 2 months after the end of that year of income;
the election can instead specify the qualifying year of income.
(2) If:
(a) a family trust election can be made in accordance with subsection 272‑80(2) of the trust loss etc. Schedule in relation to a non‑fixed trust (within the meaning of section 272‑70 of the trust loss etc. Schedule) specifying the 1999‑2000 year of income; and
(b) a franked dividend or a franked distribution (both within the meaning of section 177EA of the Income Tax Assessment Act 1936) was included in the assessable income of the trust of the 1997‑98 year of income or the 1998‑99 year of income (the qualifying year of income); and
(c) the trust concerned passes the family control test (see section 272‑87 of the trust loss etc. Schedule):
(i) if the qualifying year of income is the 1997‑98 year of income—at all times from the beginning of that year of income until the end of the 1998‑99 year of income; or
(ii) if the qualifying year of income is the 1998‑99 year of income—at the end of the 1998‑99 year of income; and
(d) either the Taxation Laws Amendment Act (No. 2) 1999 or the Taxation Laws Amendment Act (No. 2) 2000, or both, receive the Royal Assent:
(i) if the trustee is required to furnish a return for the 1998‑99 year of income—after the time when the trustee furnishes the return; or
(ii) if the trustee is not required to furnish a return for the 1998‑99 year of income—after the end of 2 months after the end of that year of income;
the election can instead specify the qualifying year of income.
(3) The election must:
(a) be in a form and manner approved by the Commissioner; and
(b) be made:
(i) if the trustee is required to furnish a return for the 1999‑2000 year of income—by the time when the trustee furnishes the return; or
(ii) if the trustee is not required to furnish a return for the 1999‑2000 year of income—before the end of 2 months after the end of that year of income or before the end of such later day as the Commissioner allows.
(4) If a family trust election is made in accordance with subitem (3) specifying the qualifying year:
(a) if the trustee is required to furnish a return for the 1999‑2000 year of income—such information about the election as is required by the return must be included in the return; and
(b) if the trustee is not required to furnish a return for that year of income—the trustee must, before the end of 2 months after the end of the 1999‑2000 year of income or before the end of such later day as the Commissioner allows, give the Commissioner such information about the election as the Commissioner, by notice in the Gazette, requires.
(5) If:
(a) a family trust election does specify the qualifying year of income in accordance with this item; and
(b) the trust is not prevented by the trust loss etc. Schedule from deducting a tax loss, or an amount in respect of a debt, and is not required to work out its net income and tax loss under Division 268 of that Schedule in the qualifying year or any later year of income that occurs before the 1999‑2000 year of income;
no liability to pay family trust distribution tax arises under Division 271 of the trust loss etc. Schedule in respect of a conferral of a present entitlement to, or a distribution of, income or capital that took place during the qualifying year or the later year of income.
23 Transitional—interposed entity elections
(1) Subject to this item and item 23A, an interposed entity election cannot specify a year of income under subsection 272‑85(1) of the trust loss etc. Schedule that is before the 1997‑98 year of income.
(2) If:
(a) a trustee makes a family trust election under subitem 22(3) (as inserted by the Taxation Laws Amendment Act (No. 2) 2000); and
(b) an interposed entity election can be made in accordance with subsection 272‑85(2) of the trust loss etc. Schedule in relation to the family trust election specifying a day in the 1998‑99 year of income; and
(c) the company, partnership or trust concerned passes the family control test (see section 272‑87 of the trust loss etc. Schedule):
(i) if the qualifying year of income specified in the family trust election as mentioned in subitem 22(3) is the 1996‑97 year of income—at all times from a day in that year of income until the end of the 1997‑98 year of income; or
(ii) if the qualifying year of income specified in the family trust election as mentioned in subitem 22(3) is the 1997‑98 year of income—at the end of the 1997‑98 year of income;
the interposed entity election can instead specify:
(d) if subparagraph (c)(i) of this subitem applies—the day mentioned in that subparagraph or a later day in the qualifying year of income; or
(e) if subparagraph (c)(ii) applies—a day in the qualifying year of income;
provided the day specified is not before the day on which the family trust election came into force.
(3) The election must:
(a) be in writing in a form and manner approved by the Commissioner; and
(b) be made:
(i) if the trustee is required to furnish a return for the 1998‑99 year of income—by the time when the trustee furnishes the return; or
(ii) if the trustee is not required to furnish a return for the 1998‑99 year of income—before the end of 2 months after the end of that year of income or before the end of such later day as the Commissioner allows.
(4) If an interposed entity election is made in accordance with subitem (3) specifying a day in the qualifying year of income:
(a) if the company, the partners or the trustee is required to furnish a return for the 1998‑99 year of income—such information about the election as is required by the return must be included in the return; and
(b) if the company, the partners or the trustee is not required to furnish a return for that year of income—the company, the partners or the trustee must, before the end of 2 months after the end of the 1998‑99 year of income or before the end of such later day as the Commissioner allows, give the Commissioner such information about the election as the Commissioner, by notice in the Gazette, requires.
23A Transitional—interposed entity elections
(1) If:
(a) a trustee makes a family trust election under subitem 22A(3); and
(b) an interposed entity election can be made in accordance with subsection 272‑85(2) of the trust loss etc. Schedule in relation to the family trust election specifying a day in the 1999‑2000 year of income; and
(c) the company, partnership or trust concerned passes the family control test (see section 272‑87 of the trust loss etc. Schedule):
(i) if the qualifying year of income specified in the family trust election as mentioned in subitem 22(3) is the 1996‑97 year of income or the 1997‑98 year of income—at all times from a day in that year of income until the end of the 1998‑99 year of income; or
(ii) if the qualifying year of income specified in the family trust election as mentioned in subitem 22(3) is the 1998‑99 year of income—at the end of the 1998‑99 year of income;
the interposed entity election can instead specify:
(d) if subparagraph (c)(i) of this subitem applies and the qualifying year of income is the 1996‑1997 year of income—the day mentioned in that subparagraph, a later day in the 1996‑97 year of income or a day in the 1997‑1998 year of income; or
(e) if subparagraph (c)(i) of this subitem applies and the qualifying year of income is the 1997‑1998 year of income—the day mentioned in that subparagraph or a later day in the 1997‑98 year of income; or
(f) if subparagraph (c)(ii) applies—a day in the 1998‑99 year of income;
provided the day specified is not before the day on which the family trust election came into force.
(2) The election must:
(a) be in a form and manner approved by the Commissioner; and
(b) be made:
(i) if the company, partners or the trustee is required to furnish a return for the 1999‑2000 year of income—by the time when the company, partners or trustee furnishes the return; or
(ii) if not—before the end of 2 months after the end of that year of income or before the end of such later day as the Commissioner allows.
(3) If an interposed entity election is made in accordance with subitem (2) specifying the qualifying year:
(a) if the company, partners or the trustee is required to furnish a return for the 1999‑2000 year of income—such information about the election as is required by the return must be included in the return; and
(b) if the company, partners or the trustee is not required to furnish a return for that year of income—the company, the partners or the trustee must, before the end of 2 months after the end of the 1999‑2000 year of income or before the end of such later day as the Commissioner allows, give the Commissioner such information about the election as the Commissioner, by notice in the Gazette, requires.
24 Transitional—jointly held trusts
(1) This item applies if, apart from the item, the condition in section 266‑40 of the trust loss etc. Schedule would not be met by a trust.
(2) If:
(a) the test period mentioned in section 266‑40 is:
(i) if that section is being applied for the purposes of section 266‑25—the test period resulting from the application of subitem 14(2) or the test period starting at the beginning of the 1995‑96 or 1996‑97 year of income; or
(ii) if that section is being applied for the purposes of section 266‑30—the test period starting at the beginning of the 1994‑95, 1995‑96 or 1996‑97 year of income; or
(iii) if that section is being applied for the purposes of section 266‑35—the test period resulting from the application of subitem 15(2); and
(b) either:
(i) 2 individuals each had, directly or indirectly, and for their own benefit, a 50% share of the income and a 50% share of the capital of the trust; or
(ii) an individual had, directly or indirectly, and for his or her own benefit, a 50% share of the income and a 50% share of the capital of the trust and a non‑fixed trust (other than a family trust) also had, directly or indirectly, a 50% share of the income and a 50% share of the capital of the trust;
at the start of the following period (the qualifying period):
(iii) if section 266‑40 is being applied for the purposes of section 266‑30 and the test period mentioned in section 266‑40 started at the beginning of the 1994‑95 year of income—the part of the test period that begins at 1995 Budget time and ends at the end of the test period; or
(iv) in any other case—the test period; and
(c) at all later times during the qualifying period, the same individual (being one of the 2 individuals mentioned in subparagraph (b)(i) or the individual mentioned in subparagraph (b)(ii)) had, directly or indirectly, and for the individual’s own benefit, fixed entitlements to at least a 50% share of the income and a 50% share of the capital of the trust;
the condition in section 266‑40 is met.
(3) If:
(a) the test period mentioned in section 266‑40 began after 1996 Budget time; and
(b) at all times during the period from immediately before 1996 Budget time until the start of the test period:
(i) 2 individuals each had, directly or indirectly, and for their own benefit, a 50% share of the income and a 50% share of the capital of the trust; or
(ii) an individual had, directly or indirectly, and for his or her own benefit, a 50% share of the income and a 50% share of the capital of the trust and a non‑fixed trust (other than a family trust) also had, directly or indirectly, a 50% share of the income and a 50% share of the capital of the trust; and
(c) at all times during the test period, the same individual (being one of the 2 individuals mentioned in subparagraph (b)(i) or the individual mentioned in subparagraph (b)(ii)) had, directly or indirectly, and for the individual’s own benefit, fixed entitlements to at least a 50% share of the income and a 50% share of the capital of the trust;
the condition in section 266‑40 is met.
25 Transitional—schemes to take advantage of deductions
(1) This item modifies the effect of Division 270 of the trust loss etc. Schedule where the trust mentioned in paragraph 270‑10(1)(a) of that Schedule is a family trust.
(2) If:
(a) a person was at any time before 1995 Budget time an outsider to a family trust; and
(b) the person ceased to be an outsider to the trust at 1995 Budget time because the person has made an interposed entity election;
the person is taken for the purposes of Division 270 not to have been an outsider to the trust at any time before 1995 Budget time.
26 Transitional—definition of family
The trust loss etc. Schedule and subitems 14(4), 15(4) and 19(4) have effect in relation to things done before 1997 Budget time as if the definition of family in section 272‑95 of that Schedule were replaced by the following definition:
The family of an individual (the test individual) consists of all of the following (if applicable):
(a) the test individual’s spouse or former spouse;
(b) a parent, brother, sister, child, nephew or niece of:
(i) the test individual; or
(ii) the test individual’s spouse; or
(iii) a former spouse of the test individual;
(c) a child of any individual covered by paragraph (a) or (b) who, under the trust, is capable of benefiting on the death of the test individual;
(d) a grandparent, great‑grandparent, aunt or uncle of the test individual;
(e) a child of a child of the test individual;
(f) the spouse or a former spouse of any individual covered by any of paragraphs (a) to (e).
Commonwealth Places (Consequential Amendments) Act 1998
(No. 23, 1998)
4 Application of amendments
(1) The amendments of the Income Tax Assessment Act 1936 apply to the 1996‑97 year of income.
Taxation Laws (Technical Amendments) Act 1998 (No. 41, 1998)
Schedule 1
26 Application
(1) The amendments made by items 4, 5, 6, 7, 22, 23, 24 and 25 apply to elections made after the commencement of this item.
(2) The amendments made by items 8, 9, 10, 11, 12, 19, 20 and 21 apply to assessments for the 1997‑98 year of income and later years of income.
(3) The amendment made by item 15 applies to applications made on or after 1 July 1992.
Schedule 2
4 Application
The amendment made by item 1 applies to payments made after the commencement of this item.
Schedule 3
7 Application
(1) The amendments made by Part 1 apply to gifts made on or after 2 July 1996.
Schedule 4
5 Application
The amendments made by this Schedule apply to assessments for the 1997‑98 income year and later income years.
Schedule 6
27 Application
(1) The amendment made by item 1 applies to the calculation of the undeducted purchase price of an annuity or superannuation pension if the first day of the period to which the first payment of the annuity or pension relates is on or after the commencement of this item.
(2) The amendment made by item 2 applies to assessments for the 1996‑97 year of income and later years of income.
(3) The amendment made by item 4 applies to mutual insurance companies and mutual affiliate companies that existed at 7.30 pm, by legal time in the Australian Capital Territory, on 9 May 1995.
(4) The amendments made by items 5, 13, 14 and 15 apply to assessments of income for the first year of income that begins after the commencement of this item, and later years of income.
(5) The amendment made by item 7 applies in relation to dividends paid on or after 1 July 1988.
(6) The amendment made by item 8 applies to disposals of assets on or after 1 July 1997.
Social Security Legislation Amendment (Youth Allowance Consequential and Related Measures) Act 1998 (No. 45, 1998)
Schedule 12
23 Application—payments of AUSTUDY
The amendments to the Income Tax Assessment Act 1936 made by this Part do not apply to payments of benefits under the AUSTUDY scheme under Part 2 of the Student Assistance Act 1973 (as in force before 1 July 1998).
Note: This Act repeals Part 2 of the Student Assistance Act 1973 (as in force before 1 July 1998), and payments of benefits under the AUSTUDY scheme will cease to be made under that Part.
24 Application—payments of youth training allowance
The amendments to the Income Tax Assessment Act 1936 made by this Part do not apply to payments of youth training allowance under Part 8 of the Student Assistance Act 1973 (as in force before 1 July 1998).
Note: This Act repeals Part 8 of the Student Assistance Act 1973 (as in force before 1 July 1998), and payments of youth training allowance will cease to be made under that Part.
Tax Law Improvement Act (No. 1) 1998 (No. 46, 1998)
4 Application of amendments
An amendment made by an item in a Schedule (except an item in Schedule 1 or in Part 1 of any of Schedules 2 to 8) applies to assessments for the 1998‑99 income year and later income years, unless otherwise indicated in the Schedule in which the item appears.
Schedule 5
10 Application
Section 4 of this Act does not apply to the amendments made by items 6 and 7.
Schedule 6
30 Application of amendments made by items 24 to 29
The amendments made by items 24 to 29 (inclusive) of this Schedule apply for the purposes of working out amounts of provisional tax payable for the 1999‑2000 year of income and later years of income.
Schedule 8
9 Application of amendments made by items 4 to 8
The amendments made by items 4 to 8 apply for the purposes of working out amounts of provisional tax payable for the 1999‑2000 year of income and later years of income.
Schedule 9
8 Application
The amendments made by this Schedule apply to assessments for the 1997‑98 income year and later income years.
Taxation Laws Amendment Act (No. 3) 1998 (No. 47, 1998)
Schedule 3
20 Application
The amendments of the Income Tax Assessment Act 1936 made by this Schedule apply in relation to income derived on or after 1 July 1997.
Schedule 4
69 Application of amendments
The amendments made by this Schedule apply to amounts deducted on or after 1 July 1998.
Schedule 6
6 Application of amendments
The amendments made by this Schedule apply in relation to any asset (whether acquired before or after the commencement of the Schedule) if the information in a register entry for the asset is certified under paragraph 160ZZU(9)(c) of the Income Tax Assessment Act 1936 (as amended by this Schedule) on or after 1 January 1998.
Schedule 7
9 Application
(1) Subject to subitem (3), the amendments made by items 1, 2 and 4 to 8 apply to dividends paid or other benefits given after 7.30 pm by legal time in the Australian Capital Territory on 13 May 1997 (including dividends paid, or other benefits given, pursuant to a dividend streaming arrangement entered into before that time).
(2) Subject to subitem (3), the amendment made by item 3 applies to franking years beginning after 7.30 pm by legal time in the Australian Capital Territory on 13 May 1997.
(3) However, the amendments made by this Part do not apply to:
(a) dividends paid by a listed public company after the time referred to in subitem (1) if the dividends were declared before that time; or
(b) any other benefits given after that time that related to such dividends.
(4) In subitem (3):
listed public company has the same meaning as in the Income Tax Assessment Act 1997.
26 Application
(1) The amendments made by items 11, 12 and 15 take effect immediately after the commencement of Part 1.
(2) Subject to subitem (3), the amendments made by this Part apply to dividends paid or distributions made after 7.30 pm by legal time in the Australian Capital Territory on 13 May 1997 (including dividends paid, or distributions made, pursuant to a scheme entered into before that time).
(3) However, the amendments made by this Part do not apply to:
(a) dividends paid by a listed public company after the time referred to in subitem (2) if the dividends were declared before that time; or
(b) any distributions made after that time that related to:
(i) dividends paid by a listed public company; or
(ii) dividends declared by a listed public company before that time.
(4) In subitem (3):
listed public company has the same meaning as in the Income Tax Assessment Act 1997.
Schedule 8
7 Application of amendment made by item 2
(1) The amendment made by item 2 applies to:
(a) loans and payments made on or after 4 December 1997 (the introduction day); and
(b) debts forgiven on or after the introduction day (regardless of when the debts arose).
(2) However, subsection 109D(5) of the Income Tax Assessment Act 1936 extends to loans made before the introduction day.
Note: That subsection applies Division 7A of Part III of that Act to loans made before the introduction day, but varied after that day, as if the loans had been made when they were varied.
(3) However, sections 109U, 109UA and 109UB of the Income Tax Assessment Act 1936 only apply to payments or loans made after 4.00 pm, by legal time in the Australian Capital Territory, on 27 March 1998.
8 Application of amendments made by items 3, 4 and 5
The amendments made by items 3, 4 and 5 apply for the year of income containing 4 December 1997, and later years of income.
9 Application of amendment made by item 6
The amendment made by item 6 applies to dividends taken to be paid under Division 7A of Part III of the Income Tax Assessment Act 1936 on or after 4 December 1997.
10 Transitional—written loan agreements
Division 7A of Part III of the Income Tax Assessment Act 1936 applies in relation to the 1997‑98 year of income as if paragraph 109N(1)(a) of that Act were repealed and the following paragraph were substituted:
(a) the loan is covered by a written agreement that was made before 1 July 1998; and
Schedule 9
14 Application
The amendments made by this Schedule apply to assessments for the 1998‑99 income year and later income years.
15 Transitional—lower tax offset for the 1998‑99 income year
(3) In working out your provisional tax for the 1999‑2000 income year under Division 3 of Part VI of the Income Tax Assessment Act 1936, work out your tax offset under Subdivision 61‑A of the Income Tax Assessment Act 1997 for the 1998‑99 income year disregarding subitems (1) and (2) of this item.
16 Transitional—provisional tax for the 1998‑99 income year
In working out your provisional tax for the 1998‑99 income year under Division 3 of Part VI of the Income Tax Assessment Act 1936, it is to be assumed that:
(a) Subdivision 61‑A of the Income Tax Assessment Act 1997 had applied to your assessment for the 1997‑98 income year; and
(b) subitems 15(1) and (2) had applied for that income year (as well as the 1998‑99 income year); and
(c) any tax offset under that Subdivision were worked out for the 1998‑99 income year disregarding Steps 2 and 4 of the method statement in subsection 61‑55(2) of that Act (which deal with certain superannuation contributions).
Taxation Laws Amendment (Company Law Review) Act 1998
(No. 63, 1998)
Schedule 1
3 Application
The amendments made by this Schedule apply to the provision of bonus shares or capital benefits on or after 1 July 1998 unless the provision was pursuant to a legally binding commitment entered into before 13 November 1997.
Schedule 2
8 Application
The amendments made by this Schedule apply where, after the commencement of this item, an amount is transferred to the share capital account of a company with shares with no par value.
9 Transitional—merging of share capital account and share premium account
A company’s share capital account does not become tainted under Division 7B of Part IIIAA of the Income Tax Assessment Act 1936 merely because an amount standing to the credit of the company’s share premium account (within the meaning of that Act) or capital redemption reserve becomes part of the company’s share capital under Schedule 5 to the Company Law Review Act 1998.
9 Transitional—merging tainted share premium accounts
(1) This item applies if, apart from this item, a company’s share capital account would become tainted under Division 7B of Part IIIAA of the Income Tax Assessment Act 1936 because the amount (the tainted amount) standing to the credit of a tainted share premium account becomes part of the company’s share capital under Schedule 5 to the Company Law Review Act 1998.
(2) The share capital account is only tainted as a result of the tainted amount becoming part of the share capital account when the balance of the share capital account is equal to the net tainted amount.
Note: This does not prevent the share capital account from becoming tainted under section 160ARDM of the Income Tax Assessment Act 1936 as a result of other amounts being transferred to it.
(3) No franking debit arises under section 160ARDQ of the Income Tax Assessment Act 1936 as a result of the share capital account becoming tainted under subitem (2).
(4) Where:
(a) before a distribution that consists of one or more amounts the share capital account is not tainted; but
(b) after the distribution the share capital account is tainted;
the following proportion of each of the amounts is taken to have been paid from a tainted share account:
where:
tainted amount of distribution is the difference between the net tainted amount immediately before the distribution and the net tainted amount immediately after the distribution.
Note: Certain distributions from tainted share capital accounts will be unfranked dividends for which no section 46 or 46A rebate is available.
(5) In this item:
net tainted amount, in relation to an account, means the lesser of:
(a) the tainted amount;
(b) the lowest balance of the share capital account at any time after the commencement of this item.
tainted share premium account, in relation to a company, means an account, whether or not called a share premium account:
(a) to which the company has, in respect of premiums received by the company on shares issued by it, credited amounts, being the respective amounts of the premiums; and
(b) for which either of the following conditions is satisfied:
(i) any other amount is standing to the credit of the account;
(ii) an amount has been credited to the account in respect of a premium received by the company on a share issued by it (not being an amount that has been so credited immediately after the receipt by the company of the premium) which could not at all times be identified in the books of the company as such a premium.
Schedule 3
8 Application
The amendments made by this Schedule apply to dividends paid after the commencement of this item by a company with shares with no par value.
Schedule 4
5 Application
The amendment made by this Schedule applies in relation to bonus shares provided after the commencement of this item by a company with shares with no par value.
Schedule 5
67 Application
The amendments made by this Schedule apply to things done after the commencement of this item where the relevant company has shares with no par value.
Taxation Laws Amendment (Landcare and Water Facility Tax Offset) Act 1998 (No. 91, 1998)
Schedule 1
19 Application
The amendments made by this Schedule apply to assessments for the 1997‑98 income year and later income years.
Taxation Laws Amendment (Private Health Insurance) Act 1998
(No. 128, 1998)
Schedule 1
6 Application
The amendments of the Income Tax Assessment Act 1936 made by this Schedule apply to assessments in respect of income for the 1998‑99 year of income and all later years of income.
Taxation Laws Amendment Act (No. 3) 1999 (No. 11, 1999)
Schedule 1
398 Application
(1) This item applies to amendments made by items 1 to 3, 11, 12, 14, 18 to 27, 29, 37 to 42, 69 to 75, 77 to 80, 88 to 101, 107, 111, 113, 118, 120, 121, 127, 128, 130, 140, 148, 149, 153, 156, 158, 161 to 169, 175, 178, 179, 185, 187 to 189, 191, 192, 195, 200 to 204, 212, 214 to 217, 221, 223, 225, 226 to 228, 234, 236 to 242, 245, 252, 254 to 278, 280, 281, 296 to 298, 301, 304, 306, 309, 310, 314, 315 to 320, 322 to 328, 331, 332 to 335, 337 to 341, 344, 345, 346, 348, 352, 355 to 360, 373, 375 to 377, 379 to 385, 387 to 394, 396 and 397.
(2) The amendments apply in relation to amounts that are due to be paid on or after 1 July 1999.
(3) The amendments, other than the amendments referred to in subitem (5), also apply in relation to amounts that are due to be paid before 1 July 1999 if:
(a) some or all of the amount remains unpaid on 1 July 1999; and
(b) the amendments would have applied to the unpaid amount if the day by which the amount is due to be paid had been on or after 1 July 1999.
(4) In applying the amendments in that case:
(a) the unpaid amount is taken to be the sum of the unpaid amount and any unpaid penalty or interest that had accrued before 1 July 1999; and
(b) the day by which the unpaid amount is due to be paid is taken to be 1 July 1999; and
(c) the unpaid amount and the unpaid penalty or interest that had accrued before 1 July 1999 continues to be payable.
(5) In addition to applying in relation to amounts that are due to be paid on or after 1 July 1999, the amendments made by items 101, 107, 111, 118, 140, 185, 195, 201, 214, 225, 226, 238, 240, 255, 301, 304, 306 and 355 to 359 also apply in relation to amounts that are due to be paid before 1 July 1999, if some or all of the amount remains unpaid on that day, from the day by which the amount is due to be paid.
399 Application
(1) This item applies to amendments made by items 6, 7, 8 to 10, 43 to 51, 53 to 68, 102, 103, 114, 115, 119, 131 to 139, 141, 151, 152, 170 to 174, 186, 196, 247 to 251, 282 to 295, 305, 311 to 313, 329, 330, 354, 361 to 363, 369 and 378.
(2) The amendments apply where the period for which the person is liable to pay the general interest charge starts on or after 1 July 1999.
400 Application
(1) This item applies to amendments made by items 13, 104, 108, 112, 197 to 199, 211, 222, 232, 233, 235, 303, 307, 308 and 347.
(2) The amendments apply in relation to notifications that must be given to the Commissioner on or after 1 July 1999.
401 Application
(1) This item applies to amendments made by items 15, 117, 142, 143, 180, 193, 194, 213, 224, 246 and 349.
(2) The amendments apply in relation to reconciliation statements, reports or forms that must be given to the Commissioner on or after 1 July 1999.
402 Application
(1) This item applies to amendments made by items 16, 17, 81 to 87, 275, 276, 364, 366, 368 and 371.
(2) The amendments apply in relation to calculating interest for 1 July 1999 or a later day.
403 Application
(1) This item applies to amendments made by items 105, 106, 109 and 110.
(2) The amendments apply in relation to amounts deducted on or after 1 July 1999.
404 Application
(1) This item applies to amendments made by items 4, 5, 28, 30, 31, 32, 33, 34, 35, 36, 52, 76, 116, 122, 123, 124, 125, 126, 129, 144, 145, 146, 147, 150, 155, 157, 159, 160, 176, 177, 181, 182, 183, 184, 190, 205, 206, 207, 208, 209, 210, 218, 219, 220, 229, 230, 231, 243, 244, 253, 279, 299, 300, 302, 321, 336, 342, 343, 365, 367, 370, 374, 386 and 395.
(2) The amendments apply in relation to credits and payments to which section 8AAZL of the Taxation Administration Act 1953 applies.
Assistance for Carers Legislation Amendment Act 1999 (No. 13, 1999)
Schedule 1
128 Application
The amendments made by this Part apply to assessments for the 1997‑98 income year and later years.
Schedule 2
63 Application
The amendments made by this Part apply to assessments for the 1999‑2000 income year and later income years.
64 Continuation of references to old allowance and benefit
(2) The Income Tax Assessment Act 1936 has effect after the commencement of this Part as if:
(a) the references in paragraphs (a) and (b) of the definition of separate net income in subsection 159J(6) of that Act to carer allowance included a reference to child disability allowance within the meaning of the Social Security Act 1991 as previously in force; and
(b) the reference in paragraph (a) of the definition of separate net income in subsection 159J(6) of the Income Tax Assessment Act 1936 to domiciliary nursing care benefit paid under Part VB of the National Health Act 1953 had not been omitted by this Act and referred to the National Health Act 1953 as previously in force; and
(c) subsection 159P(2) of the Income Tax Assessment Act 1936 had not been repealed by this Act.
Taxation Laws Amendment Act (No. 1) 1999 (No. 16, 1999)
Schedule 1
14 Application
The amendments made by this Part apply in relation to schemes entered into after 3 pm, by legal time in the Australian Capital Territory, on 29 April 1997.
Schedule 3
12 Application
(3) The repeals made by items 9, 10 and 11 apply in relation to expenditure to the extent to which it is incurred in respect of the provision of car parking facilities for a car on a day on or after 1 July 1997.
Schedule 5
16 Application
(1) The amendments made by items 2, 3, 4 and 6 have the same application as they would have had if they had been included in Division 1C of Part VI of the Income Tax Assessment Act 1936 as originally inserted by section 54 of the Taxation Laws Amendment Act (No. 2) 1993.
(2) The amendments made by the remaining items of this Schedule apply for the 1996‑97 year of income and all later years of income.
Schedule 6
28 Application
The amendments made by this Schedule apply to any franking credits or franking debits arising after the day on which the Bill that became the Taxation Laws Amendment Act (No. 1) 1999 was introduced into the House of Representatives.
Schedule 7
8 Application
(1) The amendments made by this Part apply to assets acquired after 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 1997.
(2) However, the amendments made by this Part do not apply to expenditure incurred before 1 July 1999 in respect of an asset (the deemed asset) where:
(a) the deemed asset is taken to be a separate asset from another asset (the underlying asset) for the purposes of Part IIIA of the Income Tax Assessment Act 1936 under section 160P of that Act; and
(b) the underlying asset is land or a building that was acquired by the taxpayer at or before 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 1997; and
(c) the deemed asset is acquired by the taxpayer after 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 1997 but before 1 July 1999.
(3) Subparagraphs 160ZJA(1)(d)(i) to (iii) and (3)(d)(i) to (iii) and 160ZJB(1)(d)(i) to (iii) and (3)(d)(i) to (iii) of the Income Tax Assessment Act 1936 (which relate to eligible heritage conservation expenditure and landcare and water facility expenditure) do not apply to expenditure incurred before the day on which the Bill that became the Taxation Laws Amendment Act (No. 1) 1999 was introduced into the House of Representatives.
(4) For the purposes of a taxpayer’s assessment for the year of income in which 13 May 1997 occurred, a reference in the amendments made by this Schedule to a deduction does not include a reference to a deduction to the extent that it could reasonably be regarded as arising, or relating to a period, before 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 1997.
Schedule 8
2 Application
The amendment made by this Schedule applies in calculating passive income that is derived on or after 1 July 1997.
Schedule 9
10 Application
(1) The amendments made by this Schedule apply to a life assurance company in respect of the first year of income starting on or after 29 April 1997 and all later years of income.
(2) The amendments made by this Schedule also apply to a life assurance company in respect of the year of income that immediately preceded the first year of income referred to in subsection (1) if, and only if:
(a) that immediately preceding year of income ended on or after 29 April 1997; and
(b) a significant event in relation to any of the insurance funds maintained by the company occurred during the part of that year of income occurring on and after that date.
Schedule 10
3 Application
The amendments made by this Schedule are taken to have applied where the transition time was earlier than 3 July 1995 but not earlier than the start of the year of income in which 1 July 1988 occurred.
4 Saving
Section 61A of the Income Tax Assessment Act 1936 does not apply to a transition taxpayer referred to in that section to the extent (if any) that, under a private ruling made before 14 May 1997 under Part IVAA of the Taxation Administration Act 1953, the Commissioner of Taxation has ruled that the Income Tax Assessment Act 1936 applies to the transition taxpayer in a different way from the way in which it would apply under that section.
Schedule 11
2 Application
The amendment made by this Schedule applies in relation to the 1995‑96 year of income and all later years of income.
A New Tax System (Fringe Benefits Reporting) Act) 1999 (No. 17, 1999)
Schedule 2
17 Application of amendments of sections 221F and 221H
The amendments of sections 221F and 221H of the Income Tax Assessment Act 1936 made by this Division apply in relation to group certificate forms and group certificates setting out (or required to set out) information relating to the 1999‑2000 year of income or a later year of income.
20 Application of amendments
The amendments made by this Division apply in relation to reportable fringe benefits totals for the 1999‑2000 year of income and later years of income.
26 Application of amendments
The amendments made by this Part apply to assessments for the 1999‑2000 year of income and later years of income.
29 Application of amendments
The amendments made by this Part apply to assessments for the 1999‑2000 year of income and later years of income.
32 Application of amendments
The amendments made by this Part apply to assessments for the 1999‑2000 year of income and later years of income.
39 Application
The amendments made by this Part apply in relation to levy and surcharge payable in respect of the 1999‑2000 year of income and later years of income.
40 Saving provision
The amendment of subsection 251W(1) of the Income Tax Assessment Act 1936 made by this Schedule does not affect the validity of any regulations made for the purposes of that subsection that were in force immediately before the amendment.
Taxation Laws Amendment (Software Depreciation) Act 1999
(No. 39, 1999)
Schedule 1
21 Application
The amendments made by this Schedule apply to expenditure on software after 10 am by legal time in the Australian Capital Territory on 11 May 1998.
Taxation Laws Amendment Act (No. 6) 1999 (No. 54, 1999)
4 Amendment of income tax assessments
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment made before the commencement of this section for the purposes of giving effect to this Act.
Schedule 1
36 Application
The amendments made by this Schedule apply to spectrum licences obtained on or after 11 March 1998.
Schedule 3
11 Application
The amendments made by this Schedule apply to assessments for the 1997‑98 income year and later income years.
Schedule 5
15 Application
The amendment made by item 13 applies for the purpose of determining whether a lump sum payment is eligible income in the 1998‑99 year of income or a later year of income.
Schedule 6
2 Application
The amendment made by item 1 applies in relation to provisional tax (including instalments) payable for the 1999‑2000 year of income and all later years of income.
Schedule 7
3 Application of amendments
The amendments made by this Schedule apply to assessments for the 1998‑99 income year and later income years.
A New Tax System (Income Tax Laws Amendment) Act 1999 (No. 60, 1999)
Schedule 2
12 Application
The amendments made by this Part apply for the purposes of working out amounts of provisional tax (including instalments) payable for the 1999‑2000 income year and later income years.
A New Tax System (Personal Income Tax Cuts) Act 1999 (No. 69, 1999)
Schedule 3
1 Application
(1) Subject to subitem (2), the amendments made by this Act (except items 1, 2, 4, 6, 7 and 9 of Schedule 1) apply to assessments for the 2000‑2001 income year and later income years.
(2) The amendments of paragraph 221YDA(1)(g) and subparagraph 221YDA(2)(a)(iv) of the Income Tax Assessment Act 1936 made by item 1 of Schedule 2 to this Act apply for the purposes of working out amounts of provisional tax (including instalments) payable for the 2000‑2001 income year and later income years.
A New Tax System (Closely Held Trusts) Act 1999 (No. 70, 1999)
Schedule 1
3 Application
(1) This item affects the following references in provisions of Division 6D of Part III of the Income Tax Assessment Act 1936 as amended by this Schedule:
(a) references in sections 102UK, 102UM, 102UU and 102UV to a share of the net income of a closely held trust being included in the assessable income of the trustee beneficiary of the trust under section 97 of the Income Tax Assessment Act 1936;
(b) references in sections 102UT, 102UU and 102UV to a trustee beneficiary of a closely held trust being presently entitled to a share of a tax‑preferred amount of the trust.
Note: Because the references concerned are in the operative provisions of the new Division, this item determines when the amendments made by this Schedule will commence to apply.
(2) In the case of the references in paragraph (1)(a) of this item, the references only apply where the present entitlement to the share of income, mentioned in section 97 of the Income Tax Assessment Act 1936 in relation to the share of the net income concerned, arose after 4 pm, by legal time in the Australian Capital Territory, on 13 August 1998.
(3) In the case of the references in paragraph (1)(b) of this item, the references only apply where the present entitlement to the share of the tax‑preferred amount concerned arose after 4 pm, by legal time in the Australian Capital Territory, on 13 August 1998.
4 Transitional—extension of statement deadline
If the end of the UB statement period mentioned in Division 6D of Part III of the Income Tax Assessment Act 1936 as amended by this Schedule occurs before the commencement of this Schedule, the end of the UB statement period is taken instead to occur when 90 days have elapsed after the commencement of this Schedule.
Schedule 2
12 Application
(1) The amendments made by items 1 to 7 and 9 apply to ultimate beneficiary non‑disclosure tax that becomes payable at any time after the commencement of this Part.
(2) The amendment made by item 8 applies to net income of a trust estate of the year of income in which 13 August 1998 occurred, and all later years of income.
(3) The amendment made by item 10 applies to income derived either before or after the commencement of this Part.
A New Tax System (Family Assistance) (Consequential and Related Measures) Act (No. 1) 1999 (No. 82, 1999)
Schedule 8
29 Application
The amendments made by this Schedule apply to assessments in relation to the 2000‑2001 year of income and later years of income.
A New Tax System (Family Assistance) (Consequential and Related Measures) Act (No. 2) 1999 (No. 83, 1999)
Schedule 10
68 Application
(1) Subject to this item, the amendments made by this Schedule apply to assessments in relation to the 2000‑2001 year of income and later years of income.
(2) The amendment made by item 7 of this Schedule applies to information sought in relation to a registered carer after 8 December 1997.
Taxation Laws Amendment Act (No. 2) 1999 (No. 93, 1999)
Schedule 1
39 Application
(1) Subject to this item, the amendments made by this Schedule apply in relation to transactions entered into after 2 July 1998.
(2) The amendment made by item 20 applies to foreign tax paid after 2 July 1998.
(3) Subsection 121ELA(2) and section 121ELB of the Income Tax Assessment Act 1936 apply to disposals after 2 July 1998.
(4) The amendments made by items 24 and 25 apply to declarations made by the Treasurer after 2 July 1998.
(5) The amendments made by items 27 to 32 apply to debentures issued after 2 July 1998.
(6) The amendment made by item 33 applies to interest paid by an OBU after 2 July 1998.
(7) The amendment made by item 33 applies in relation to amounts lent to the Australian branch after 2 July 1998.
(8) The amendment made by item 35 applies to the year of income before the year of income in which 2 July 1998 occurs and to all later years of income.
(9) The amendment made by item 38 applies to penalties imposed after 2 July 1998.
46 Application
(1) The amendment made by item 42 of this Schedule applies to notional accounting periods of FIFs ending on or after 2 July 1998.
(2) The other amendments made by this Part of this Schedule apply in relation to assessments for years of income ending on or after 2 July 1998.
48 Application
The amendment made by item 47 applies to statutory accounting periods of CFCs ending on or after 2 July 1998.
Schedule 2
3 Application of amendments
The amendments made by this Schedule apply in relation to debts forgiven after the day on which the Bill that became the Taxation Laws Amendment Act (No. 2) 1999 was introduced into the House of Representatives.
Schedule 3
33 Application
(1) The amendments made by this Schedule other than items 8, 9, 10 and 11 apply where the transition time or acquisition time, as the case may be, referred to in Division 58 inserted in the Income Tax Assessment Act 1997 by item 7 is a time on or after 4 August 1997.
(2) The amendments made by items 8, 9, 10 and 11 apply to assessments for the 1998‑99 income year and later income years.
Schedule 4
25 Application of amendments
(1) Subject to this item, the amendments made by this Schedule apply in respect of shares, or interests in shares, where the shares or interests were acquired by the taxpayer on or after 1 July 1997, except where the shares or interests were acquired under a contract made before 7.30 pm by legal time in the Australian Capital Territory on 13 May 1997.
(2) If:
(a) a taxpayer has acquired, or acquires, shares or an interest in shares on or after 1 July 1997; and
(b) the acquisition constituted, or constitutes, an acquisition or reacquisition of replacement securities for the purposes of subparagraph 26BC(3)(a)(ii) of the Income Tax Assessment Act 1936;
the acquisition is taken for the purposes of subitem (1) to have occurred before 1 July 1997.
(3) If:
(a) a taxpayer acquired, or is taken for the purposes of subitem (1) to have acquired, before 1 July 1997 an interest in shares:
(i) under a trust; or
(ii) as a partner in a partnership; and
(b) the shares, or an interest in the shares, was or is distributed to the taxpayer on or after that date in satisfaction of the interest referred to in paragraph (a);
the acquisition of the shares or interest so distributed, to the extent to which the shares or interest distributed satisfied the interest referred to in paragraph (a), is taken for the purposes of subitem (1) to have occurred before that date.
(4) If:
(a) shares (the bonus shares) have been issued to a taxpayer in respect of existing shares; and
(b) the existing shares were acquired, or are taken for the purposes of subitem (1) to have been acquired, by the taxpayer before 1 July 1997; and
(c) no part of the bonus shares has been, or is taken to have been, a dividend included in the taxpayer’s assessable income;
the acquisition of the bonus shares is taken for the purposes of subitem (1) to have occurred before that date.
(5) Despite subitem (1):
(a) references to shares, or interests in shares, in Subdivisions BA and BB of Division 7 of Part IIIAA of the Income Tax Assessment Act 1936 include references to shares, or interests in shares, acquired by the taxpayer before 1 July 1997; and
(b) in calculating the net position of a taxpayer or fund in relation to shares, or an interest in shares, for the purposes of section 160APHJ of the Income Tax Assessment Act 1936, regard is to be had to the long positions and the short positions of the taxpayer or fund in relation to shares, or interests in shares, acquired before 1 July 1997.
(6) Section 160APHL of the Income Tax Assessment Act 1936 is taken to have come into effect at 3.00 pm by legal time in the Australian Capital Territory on 31 December 1997 and applies to:
(a) all trusts (other than widely held public share‑trading trusts) that receive dividends from shares, or distributions in respect of interests in shares, but only in relation to shares or interests in shares acquired after that time (other than shares or interests acquired under an obligation contained in a contract made before that time); and
(b) widely held public share‑trading trusts established after that date.
(7) If:
(a) the trustee of a trust (other than a widely held public share‑trading trust) acquired an interest in shares before 3.00 pm by legal time in the Australian Capital Territory on 31 December 1997; and
(b) the shares, or an interest in the shares, was distributed to the trustee after that time in satisfaction of the interest referred to in paragraph (a);
the acquisition of the shares or interest so distributed, to the extent to which the shares or interest distributed satisfied the interest referred to in paragraph (a), is taken for the purposes of paragraph (a) of subitem (6) to have occurred before that time.
(8) If:
(a) shares (the bonus shares) have been issued to the trustee of a trust in respect of existing shares; and
(b) the existing shares were acquired by the trustee before 3.00 pm by legal time in the Australian Capital Territory on 31 December 1997; and
(c) no part of the bonus shares has been, or is taken to have been, a dividend included in the net income of the trust estate;
the acquisition of the bonus shares is taken for the purposes of paragraph (a) of subitem (6) to have occurred before that time.
(9) A reference in a provision inserted in the Income Tax Assessment Act 1936 by this Schedule to a related payment in respect of a dividend or distribution:
(a) is a reference to a related payment under an arrangement entered into after 7.30 pm by legal time in the Australian Capital Territory on 13 May 1997, whether or not the shares or interests in shares in respect of which the dividend was paid or the distribution was made were acquired by the taxpayer before or after that time; but
(b) does not include a reference to a related payment made under a contract for the sale of derivatives known as Share Price Index Futures that was made before 2 July 1998.
(10) Section 160APHN of the Income Tax Assessment Act 1936 has effect for the purposes of subitem (9) of this item in the same way as it has effect for the purposes of Division 1A of Part IIIAA of that Act.
(11) In this item:
arrangement has the same meaning as in Division 1 of Part IIIAA of the Income Tax Assessment Act 1936.
widely held public share‑trading trust means a widely held trust that:
(a) is open to investment by members of the public; and
(b) buys and sells shares with a view to profit.
widely held trust has the same meaning as in Division 1A of Part IIIAA of the Income Tax Assessment Act 1936.
Schedule 5
80 Statements given by company to shareholders before 2 April 1998
A company is not liable to a penalty under section 160ARY merely because:
(a) the company gave to a shareholder before 2 April 1998 a dividend statement that complied with section 160AQH of the Income Tax Assessment Act 1936 as in force at the time when the statement was given; or
(b) the company gave to a shareholder before that date a dividend statement that the Commissioner is satisfied reasonably complied with section 160AQH of the Income Tax Assessment Act 1936 as amended by this Schedule.
81 Application
The amendments made by this Schedule apply to dividends paid at or after 7.30 pm by legal time in the Australian Capital Territory on 13 May 1997 other than:
(a) dividends declared before that time by a listed public company (within the meaning of the Income Tax Assessment Act 1997); or
(b) dividends paid after that time that related to dividends referred to in paragraph (a).
Taxation Laws Amendment Act (No. 4) 1999 (No. 94, 1999)
Schedule 3
3 Application
The repeals made by items 1 and 2 apply to a public entity if the test time (within the meaning of Division 20 of Part IIIA of the Income Tax Assessment Act 1936) was on or after 20 January 1997.
Schedule 4
2 Application
The amendment made by item 1 applies to payments made on or after 1 July 1998.
Schedule 5
35 Application of amendments
Subject to item 37, the amendments made by this Schedule apply to assessments for the 1998‑99 income year and all later income years.
Schedule 6
73 Application
The amendments made by this Schedule apply to assessments for the 1998‑99 income year and all later income years.
Superannuation Legislation Amendment Act (No. 2) 1999 (No. 96, 1999)
Schedule 2
3 Application
Subject to item 4, the amendments made by this Schedule apply to income derived after 2 pm by standard time in the Australian Capital Territory on 25 November 1997 (the commencement time).
4 Transitional—income of unit holders
(1) Income derived during the period from the commencement time until the end of 2 July 1998 by the entity in the capacity of holder of a unit in a trust estate is special income of the entity for the purposes of Part IX of the Income Tax Assessment Act 1936 if, and only if:
(a) the entity acquired the unit under an arrangement, or the income was derived under an arrangement, some or all of the parties to which were not dealing with each other at arm’s length in relation to the arrangement; and
(b) the amount of the income is greater than might have been expected to have been derived by the entity if those parties had been dealing with each other at arm’s length in relation to the arrangement.
(2) In subitem (1), arrangement has the meaning given by subsection 273(8) as inserted in the Income Tax Assessment Act 1936 by item 2.
Taxation Laws Amendment (CPI Indexation) Act 1999 (No. 102, 1999)
Schedule 2
2 Application
The amendment of section 159HA of the Income Tax Assessment Act 1936 made by this Schedule applies to assessments for the 1998‑99 year of income and later years of income.
Taxation Laws Amendment (Demutualisation of Non‑insurance Mutual Entities) Act 1999 (No. 103, 1999)
Schedule 1
4 Application
Subsections 160ARDM(4) and 160ARDQ(4) apply only to a demutualising entity in respect of which the demutualisation resolution day was earlier than 11 August 1998.
Taxation Laws Amendment Act (No. 7) 1999 (No. 117, 1999)
Schedule 1
8 Application of amendments
(1) The amendments made by items 1 and 2 of this Schedule apply to things done after the commencement of this item where the relevant company has shares with no par value.
(2) The amendments made by items 3 and 4 of this Schedule apply where, after the commencement of this item, an amount is transferred to the share capital account of a company with shares with no par value.
Statute Stocktake Act 1999 (No. 118, 1999)
Schedule 2
51 Application
The amendments made by items 49 and 50 apply to assessments for years of income starting after the year of income containing the day on which this item commences.
Superannuation (Unclaimed Money and Lost Members) Consequential and Transitional Act 1999 (No. 128, 1999)
8 Application of certain items of Schedule 1
Items 8, 10, 12, 13, 14, 34, 35, 39, 44, 45, 46, 47, 48, 49 and 73 of Schedule 1 do not apply in respect of the half‑year in which the New Act receives the Royal Assent.
New Business Tax System (Capital Allowances) Act 1999 (No. 164, 1999)
Schedule 3
14 Application of amendments
The amendments made by this Schedule apply to plant if:
(a) you became its owner or quasi‑owner under a contract entered into after 11.45 am, by legal time in the Australian Capital Territory, on 21 September 1999; or
(b) you constructed it and the construction started after that time; or
(c) you acquired it in some other way after that time.
New Business Tax System (Capital Gains Tax) Act 1999 (No. 165, 1999)
Schedule 1
61 Application of amendments
The amendments made by this Schedule apply to assessments for the income year including 21 September 1999 and all later income years, but only for CGT events that happen after 11.45 am, by legal time in the Australian Capital Territory, on 21 September 1999.
Note: The 15‑year exemption in Subdivision 152‑B of the Income Tax Assessment Act 1997, as inserted by this Division, will effectively only apply to CGT events that happen on or after 20 September 2000, since the 15‑year exemption is only relevant to CGT assets acquired on or after 20 September 1985.
62 Transitional—old CGT retirement exemption limit carries over
If an individual’s CGT retirement exemption limit was reduced by one or more amounts under:
(a) section 118‑435 of the Income Tax Assessment Act 1997; or
(b) section 160ZZPZN of the Income Tax Assessment Act 1936;
or both, then the individual’s CGT retirement exemption limit under Subdivision 152‑D of that Act (as inserted by this Schedule) is taken to have been reduced by the total of all those amounts at 11.45 am, by legal time in the Australian Capital Territory, on 21 September 1999.
Note: This could result in the individual’s new limit being reduced to nil at that time, if he or she has already used it up under those old provisions.
New Business Tax System (Integrity and Other Measures) Act 1999
(No. 169, 1999)
Schedule 2
5 Application of amendments
The amendments made by this Schedule apply to trigger events that happen on or after 22 February 1999.
Schedule 3
7 Application of amendments
The amendments made by this Schedule apply to assessments for the 1999‑2000 income year and later income years.
Schedule 4
19 Application
(1) The amendments made by this Schedule apply to CGT events happening on or after 21 October 1999.
(2) The amendment made by item 2 is to be disregarded for the purposes of any application of section 110‑55 of the Income Tax Assessment Act 1997 as previously in force, or any application of subsection 160ZK(1) of the Income Tax Assessment Act 1936, as a result of a CGT event or disposal that occurred before 21 October 1999.
(3) The amendment made by item 3 is to be disregarded for the purposes of any application of section 110‑60 of the Income Tax Assessment Act 1997 as previously in force, or any application of subsection 160ZK(3) of the Income Tax Assessment Act 1936, as a result of a CGT event or disposal that occurred before 21 October 1999.
Schedule 7
12 Application
(1) The amendments made by Division 1 of Part 1 and by Part 2 apply in relation to:
(a) expenditure incurred by a taxpayer after 11.45 am (by legal time in the Australian Capital Territory) on 21 September 1999; and
(b) the taxpayer’s assessments for the year of income including that day and for later years of income.
(2) The amendments made by Division 2 of Part 1 apply in relation to expenditure incurred by a taxpayer in a year of income after the taxpayer’s year of income mentioned in item 4 of the table in subsection 82KZMB(5) of the Income Tax Assessment Act 1936.
Schedule 9
22 Application
(1) The amendment of section 6AD of the Income Tax Assessment Act 1936 made by this Division applies in relation to years of income commencing on or after 1 July 2000.
(2) The other amendments made by this Division apply to assessments for the year of income including 21 September 1999 and later years of income.
A New Tax System (Pay As You Go) Act 1999 (No. 178, 1999)
Schedule 1
49A Application
The amendment of the Income Tax Assessment Act 1936 made by item 39 of this Schedule applies to an income year that ends after 30 June 2000.
Schedule 2
35 Application
(1) The amendments made by this Part, so far as they relate to the establishment, operation and effect of RBAs, apply to all tax debts owing on or after 1 July 2000, regardless of when the debts arose.
(2) The amendments made by this Part, so far as they relate to the treatment of payments and credits by the Commissioner, apply to the treatment of payments or credits by the Commissioner on or after 1 July 2000, regardless of when the payments were made or when the credits arose.
A New Tax System (Tax Administration) Act 1999 (No. 179, 1999)
Schedule 5
74 Transitional rules for TFN declarations
(1) Any employment declaration that is effective under Part VA of the Income Tax Assessment Act 1936 immediately before 1 July 2000 continues to have effect as if it were a TFN declaration given on 1 July 2000 under that Part (as amended by this Act).
(2) For such a declaration, subsection 202CD(1) of the Income Tax Assessment Act 1936 applies as if that subsection specified 28 days instead of 14 days.
Schedule 6
24 Application
(1) The amendment made by item 2 applies in respect of the year of income commencing on 1 July 2000 or a later year of income.
(2) The amendment made by item 3 applies to declarations made on or after 1 July 2000 in respect of returns given or applications for amendments made in respect of the year of income commencing on that day or a later year of income.
(3) The amendments made by items 4 to 9 and 11 apply to amendments made on or after 1 July 2000 in respect of assessments for the year of income commencing on that day or a later year of income.
(4) The amendments made by items 12 and 13 apply to family agreements entered into on or after 1 July 2000 in respect of the year of income commencing on that day or a later year of income.
Schedule 10
24 Application
The amendment of the Income Tax Assessment Act 1936 made by item 23 of this Schedule applies to an income year that ends after 30 June 2000.
Schedule 11
79 Application
The amendment made by item 78 applies in relation to contributions (within the meaning of section 274 of the Income Tax Assessment Act 1936) made in relation to the year of income commencing on 1 July 2000 and later years of income.
Schedule 16
37 Application
The amendments made by this Schedule apply to the 2000‑2001 year of income and later years of income.
Schedule 17
2 Application
The amendment made by this Schedule applies for the purposes of working out amounts of provisional tax (including instalments) payable for the 1999‑2000 income year and later income years.
Taxation Laws Amendment Act (No. 5) 2000 (No. 43, 2000)
Schedule 2
6 Application
The amendments made by this Schedule apply to shares and rights acquired on or after 2 September 1999.
Schedule 3
9 Application
(1) The amendments made by this Schedule have the same application as they would if they had been part of Division 6D of Part III of the Income Tax Assessment Act 1936 when that Division was originally inserted in that Act by item 2 of Schedule 1 to the A New Tax System (Closely Held Trusts) Act 1999.
(2) To avoid doubt, the Commissioner may, at any time after the commencement of this Schedule, under paragraph 102UH(b) of the Income Tax Assessment Act 1936 as amended by this Schedule, allow a further period in respect of a year of income that ended before the commencement of this Schedule.
10 Transitional
The references in paragraphs 102USA(2)(c) and 254(3)(b) of the Income Tax Assessment Act 1936 as inserted by this Schedule to general interest charge under section 102UP include a reference to:
(a) general interest charge under item 93 of Schedule 2 to the A New Tax System (Pay As You Go) Act 1999; and
Note: Item 93 applied a general interest charge to amounts that became payable before 1 July 1999.
(b) additional tax under section 102UP of the Income Tax Assessment Act 1936 as in force before the commencement of item 92 of Schedule 2 to the A New Tax System (Pay As You Go) Act 1999.
Note: Item 92 had the effect that additional tax under section 102UP continued to apply to amounts that became payable before 1 July 1999.
A New Tax System (Tax Administration) Act (No. 1) 2000 (No. 44, 2000)
Schedule 4
5 Application
The amendment made by item 4 applies to a person who quotes his or her tax file number before, at or after the item’s commencement.
7 Application
The amendment made by item 6 applies to a person who quotes his or her tax file number before, at or after the item’s commencement.
9 Saving
The amendment made by item 8 applies to a person who, immediately before that item’s commencement, is taken to have quoted his or her tax file number to a trustee or an RSA provider because of subsection 202DJ(1) of the Income Tax Assessment Act 1936, as if that person had made a TFN declaration in relation to the trustee or the RSA provider as mentioned in that subsection as amended by that item.
A New Tax System (Family Assistance and Related Measures) Act 2000
(No. 45, 2000)
Schedule 4
9 Application
The amendments of the Income Tax Assessment Act 1936 made by this Schedule apply to assessments in relation to the 2000‑2001 year of income and later years of income.
Taxation Laws Amendment Act (No. 2) 2000 (No. 58, 2000)
Schedule 1
10 Application of amendments
The amendments made by this Part apply in determining the attributable income of a CFC if a disposal was taken to have occurred, under section 160ZZOA of the Income Tax Assessment Act 1936, after 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 1997.
11 Transitional—group roll‑over disposals before 13 May 1997
(1) This item applies if a group roll‑over disposal (within the meaning of section 160ZZOA of the Income Tax Assessment Act 1936) happened at or before 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 1997 and during a particular statutory accounting period of an attributable taxpayer.
(2) In applying section 460A of that Act (as amended by this Schedule), the taxpayer may elect to disregard so much of any change to the attribution percentage of the taxpayer in relation to the relevant CFC as happened before the end of the statutory accounting period.
27 Application of amendments
The amendments made by this Part apply in determining the attributable income of a CFC if CGT event J1 is taken to have happened at any time, whether before or after the Part commences.
Schedule 2
4 Application
(1) The amendment made by item 1 applies to the 1992‑93 year of income and to later years of income up to, and including, the 1996‑97 year of income.
Schedule 3
3 Application of item 2
Despite the amendment made by item 2, a taxpayer who was entitled to a franking credit or a franking rebate in respect of a dividend paid, or a distribution made, before the day on which this Act receives the Royal Assent continues to be entitled to the franking credit or franking rebate.
Schedule 6
34 Application
The amendments made by this Schedule apply to gifts made on or after 1 July 1999.
Schedule 8
21 Application
The amendments made by items 4 to 9 apply to the provision of bonus shares or capital benefits on or after 30 June 1999.
Schedule 10
17 Application
(1) The amendments made by items 1 to 4 apply in relation to the 1996‑97 year of income.
(2) The amendments made by items 5 to 10 apply:
(a) to allowable deductions for the 1996‑97 year of income for amounts in respect of debts incurred in that year of income; or
(b) to allowable deductions for the 1997‑98 year of income for amounts in respect of debts incurred in that year of income or in the 1996‑97 year of income.
21 Application
The amendments made by this Part apply to the making of determinations under section 271‑60 of Schedule 2F to the Income Tax Assessment Act 1936 after the commencement of this Part, in relation to tax under section 271‑15 of that Schedule that:
(a) has become due and payable before the commencement of this Part; or
(b) becomes due and payable after the commencement of this Part.
38 Application
(1) The amendments made by items 22 to 24 apply for the 1996‑97 year of income.
(2) The amendments made by items 25 to 29 apply:
(a) to allowable deductions for the 1996‑97 year of income for amounts in respect of debts incurred in that year of income; or
(b) to allowable deductions for the 1997‑98 year of income for amounts in respect of debts incurred in that year of income or in the 1996‑97 year of income.
Schedule 11
11 Continuation of previous transitional election provisions
In addition to the effect that items 22 and 23 of Schedule 1 to the Taxation Laws Amendment (Trust Loss and Other Deductions) Act 1998 have as a result of the amendments made by this Schedule, those items continue to have the effect that they would have had if the amendments had not been made.
Taxation Laws Amendment Act (No. 6) 2000 (No. 76, 2000)
Schedule 1
8 Application of amendments
(1) The amendments made by items 1, 2 and 6 apply to assessments for the 1999‑2000 year of income and all later years of income.
(2) The amendments made by items 3 and 4 apply in relation to the quotation of TFNs on or after 11 November 1999.
(3) The amendment made by item 5 applies to payments made on or after 11 November 1999.
New Business Tax System (Miscellaneous) Act (No. 1) 2000 (No. 79, 2000)
Schedule 1
4 Application of amendments
(1) The amendment made by item 1 applies to dividends paid on or after 1 July 2000.
(2) The amendments made by items 2 and 3 apply to unfranked non‑portfolio dividends paid to the resident company on or after 1 July 2000.
Schedule 2
7 Application of amendments
The amendments made by this Schedule that relate to tax offsets under Part IIIAA of the Income Tax Assessment Act 1936 apply to offsets that relate to dividends paid on or after 1 July 2000.
Schedule 3
14 Application of amendments
(1) The amendment made by item 1 applies to:
(a) franking deficit tax for franking years ending on or after 1 July 2000; and
(b) deficit deferral tax in relation to instalments under section 221AZK paid during a franking year ending on or after 1 July 2000.
(2) The amendment made by item 2 applies to:
(a) the payment of a class C franked dividend to a shareholder in a company on or after 1 July 2000; and
(b) a trust amount or partnership amount that relates, directly or indirectly, to the payment of a class C franked dividend to a shareholder in a company on or after 1 July 2000.
(3) The amendment made by item 4 applies to dividends paid on or after 1 July 2000.
(4) The amendment made by item 5 applies to deficit deferral tax in relation to instalments under section 221AZK paid during a franking year ending on or after 1 July 2000.
(5) The amendments made by items 7 and 8 apply to dividends paid on or after 1 July 2000.
(6) The amendments made by items 9 to 12 apply to dividends that are current dividends for the purposes of section 160ASL of the Income Tax Assessment Act 1936 and are paid on or after 1 July 2000.
Schedule 4
5 Application of amendments
The amendments made by this Part apply to assessments for the 2000‑01 year of income and later years of income.
10 Application of amendments
The amendments made by this Part apply to assessments for the 2001‑02 year of income and later years of income.
Schedule 5
45 Application of amendments
The amendments made by this Schedule apply to CGT events in relation to a qualifying SME investment of a PDF that happen on or after the day on which Schedule 3 to the New Business Tax System (Capital Gains Tax) Act 1999 commences.
Schedule 6
15 Application of amendments
(1) The amendments made by this Schedule, to the extent that they relate to:
(a) plant whose cost does not exceed $300; or
(b) low‑cost plant (plant whose cost is less than $1,000);
apply to assessments for the income year in which 1 July 2000 occurs and later income years.
(2) The amendments made by this Schedule, to the extent that they relate to plant that you can allocate to a low‑value pool under subsection 42‑455(3) of the Income Tax Assessment Act 1997, apply to assessments for the 2000‑01 income year and later income years.
New Business Tax System (Miscellaneous) Act (No. 2) 2000 (No. 89, 2000)
Schedule 2
62 Application of amendments made by this Part
(1) The amendments made by items 4, 5, 25 and 26 apply to amounts received (within the meaning of section 26AH of the Income Tax Assessment Act 1936) on or after 1 July 2000.
(2) The amendments made by items 6 and 7 apply to losses arising on or after 1 July 2000.
(3) The amendments made by items 8 to 22 apply to assessments for the year of income in which 21 September 1999 occurs and later years of income.
(4) The amendments made by items 23, 24, 35, 36 and 53 apply to income derived on or after 1 July 2000.
(6) The amendments made by items 58 to 61 apply in calculating passive income that is derived on or after 1 July 2000.
Schedule 3
29 Application of amendments
The amendments made by this Part (other than item 16) apply to the 2000‑01 year of income and later years of income.
84 Application of amendments
(1) The amendments made by items 33 to 44 (inclusive), 60, 61, 62, 69, 76, 77 and 83 apply to dividends paid on or after 1 July 2000.
(2) The amendments made by items 78 to 82 (inclusive) apply to income derived on or after 1 July 2000.
100 Application of amendments
The amendments made by this Part apply to assessments for the 1999‑2000 year of income and later years of income.
Schedule 5
34 Application of amendments
(1) Subject to subitem (2), the amendments made by this Schedule apply to CGT events happening on or after 10 December 1999.
Schedule 8
11 Application of amendments
The amendments made by this Schedule apply to:
(a) expenditure incurred by a taxpayer after 11.45 am (by legal time in the Australian Capital Territory) on 21 September 1999; and
(b) the taxpayer’s assessments for the year of income including that day and for later years of income.
New Business Tax System (Integrity Measures) Act 2000 (No. 90, 2000)
Schedule 2
11 Application of amendments
(1) The amendments made by Part 1 of this Schedule apply to:
(a) expenditure incurred by a taxpayer after 1 pm (by legal time in the Australian Capital Territory) on 11 November 1999; and
(b) the taxpayer’s assessments for the year of income including that day and for later years of income.
(2) The amendments made by Part 2 of this Schedule apply to expenditure incurred by a taxpayer in a year of income after the taxpayer’s year of income that includes 21 September 2002.
A New Tax System (Tax Administration) Act (No. 2) 2000 (No. 91, 2000)
Schedule 2
144 Application of amendments
(1) Subject to this item, the amendments made by this Part apply to:
(a) for income tax—returns, statements, notices and other documents given for the 2000‑01 income year and later years; and
(b) for fringe benefits tax—returns, statements, notices and other documents for the year of tax starting on 1 April 2001 and later years; and
(c) for other taxes—returns, statements, notices and other documents for the period starting on 1 July 2000 and later periods.
147 Application of amendments
The amendments made by this Part apply to income tax payable for the 2000‑01 year of income and later years.
Taxation Laws Amendment Act (No. 4) 2000 (No. 114, 2000)
Schedule 3
3 Application
The amendments made by this Schedule apply to income derived after 30 June 2000.
Schedule 4
82 Application
(1) The amendments made by this Schedule (other than by item 45) apply to assessments for the 1998‑99 income year and later income years.
(2) The amendment made by item 45 of this Schedule applies to CGT events happening on or after the day on which this Act receives the Royal Assent.
Criminal Code Amendment (Theft, Fraud, Bribery and Related Offences) Act 2000 (No. 137, 2000)
Schedule 2
418 Transitional—pre‑commencement offences
(1) Despite the amendment or repeal of a provision by this Schedule, that provision continues to apply, after the commencement of this item, in relation to:
(a) an offence committed before the commencement of this item; or
(b) proceedings for an offence alleged to have been committed before the commencement of this item; or
(c) any matter connected with, or arising out of, such proceedings;
as if the amendment or repeal had not been made.
(2) Subitem (1) does not limit the operation of section 8 of the Acts Interpretation Act 1901.
419 Transitional—pre‑commencement notices
If:
(a) a provision in force immediately before the commencement of this item required that a notice set out the effect of one or more other provisions; and
(b) any or all of those other provisions are repealed by this Schedule; and
(c) the first‑mentioned provision is amended by this Schedule;
the amendment of the first‑mentioned provision by this Schedule does not affect the validity of such a notice that was given before the commencement of this item.
Farm Household Support Amendment Act 2000 (No. 144, 2000)
Schedule 3
7 Transitional provisions
(3) The Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997 continue to have effect, after the farm help scheme payment commencement day, in relation to payments of restart income support made in respect of periods before that day, as if the repeals and amendments made by Schedule 2 had not happened.
8 Definitions
In this Schedule:
amended FHS Act means the Farm Household Support Act 1992 as amended and in force from time to time after the commencement of item 2 of Schedule 1 to the Farm Household Support Amendment Act 2000.
restart income support has the meaning given by the Farm Household Support Act 1992 as in force immediately before the farm help scheme payment commencement day.
restart re‑establishment grant has the meaning given by the Farm Household Support Act 1992 as in force immediately before the farm help scheme payment commencement day.
Taxation Laws Amendment Act (No. 7) 2000 (No. 173, 2000)
Schedule 4
65 Application of amendments
(1) The amendments made by this Schedule (except those made by items 2, 6 and 30) apply to assessments for the 1998‑99 income year and later income years.
(2) The amendment made by item 2 applies to schemes entered into after 3 pm, by legal time in the Australian Capital Territory, on 29 April 1997.
Taxation Laws Amendment (Changes for Senior Australians) Act 2001
(No. 44, 2001)
Schedule 1
11 Application
The amendments made by this Schedule apply to assessments for the 2000‑2001 year of income and later years of income.
12 Transitional—regulations
(1) Regulations made under subsection 160AAAA(3) of the Income Tax Assessment Act 1936 that are in force immediately before the commencement of this item are taken, from that time, to have been made under that subsection as amended by this Act.
(2) Regulations made under subsection 160AAAB(3) of the Income Tax Assessment Act 1936 that are in force immediately before the commencement of this item are taken, from that time, to have been made under that subsection as amended by this Act.
Governor‑General Legislation Amendment Act 2001 (No. 57, 2001)
Schedule 2
4 Application
(1) The repeal and amendments made by this Schedule apply in relation to income derived on or after 29 June 2001 (the commencing day).
(2) However, the repeal and amendments do not apply in relation to income derived on or after the commencing day by a State Governor who held that office immediately before the commencing day.
Taxation Laws Amendment Act (No. 1) 2001 (No. 72, 2001)
Schedule 2
108 Amendments related to arrangements treated as sale and loan
(2) The amendments made by Part 2 of this Schedule (other than by item 35) apply to arrangements entered into after 27 February 1998.
109 Amendments related to limited recourse debt
(2) The amendments made by Part 3 of this Schedule (other than by items 83 and 90) apply to debts that are terminated after 27 February 1998.
110 Amendments related to property transferred as security
The amendments made by Part 4 of this Schedule apply to transfers of property where the transaction under which the property was provided, or redeemed, as security was entered into after 27 February 1998.
Taxation Laws Amendment Act (No. 3) 2001 (No. 73, 2001)
Schedule 2
95 Application
(1) The amendments made by this Part of this Schedule apply in respect of the 2001‑2002 year of income and later years of income.
(2) In addition, the amendments of the Income Tax Assessment Act 1936 made by this Part of this Schedule apply in respect of an instalment quarter that is a transitional quarter within the meaning of item 49 of this Schedule.
Schedule 3
17 Application
The amendments of the Income Tax Assessment Act 1936 made by this Part apply, and are taken to have applied, in respect of instalments or payments that are due on or after 1 April 2001.
Schedule 4
10 Application
The amendments made by this Schedule apply to each day of each quarter mentioned in subsection 8AAD(2) of the Taxation Administration Act 1953 (as amended) where the quarter begins on or after the day on which this Act receives the Royal Assent.
New Business Tax System (Capital Allowances—Transitional and Consequential) Act 2001 (No. 77, 2001)
Schedule 2
488 Application
(1) Subject to this item, the amendments made by this Schedule apply to:
(a) depreciating assets:
(i) you start to hold under a contract entered into after 30 June 2001; or
(ii) you constructed where the construction started after that day; or
(iii) you start to hold in some other way after that day; and
(b) expenditure that does not form part of the cost of a depreciating asset incurred after that day.
New Business Tax System (Simplified Tax System) Act 2001 (No. 78, 2001)
Schedule 3
15 Application
(1) Subject to this item, the amendments made by this Schedule apply to assessments for the first year of income starting after 30 June 2001 and later years of income.
(2) The amendments made by items 5 and 14 apply to expenditure incurred by a taxpayer in a year of income after the taxpayer’s year of income that includes 21 September 2002.
Taxation Laws Amendment (Superannuation Contributions) Act 2001
(No. 89, 2001)
Schedule 1
11 Application of amendments
(1) The amendments made by Parts 1 and 2 of this Schedule apply to contributions made after 4 pm (by legal time in the Australian Capital Territory) on 30 June 2000.
12 Transitional—interpretation of section 82AAA
The amendment of section 82AAA of the Income Tax Assessment Act 1936 made by item 3:
(a) is for the avoidance of doubt; and
(b) is not to be taken to affect by implication the interpretation of that section as in force at any time before the commencement of that item.
New Business Tax System (Thin Capitalisation) Act 2001 (No. 162, 2001)
Schedule 1
23 Application—section 128F of the Income Tax Assessment Act 1936
The amendment of section 128F of the Income Tax Assessment Act 1936 made by this Schedule applies only in relation to a debenture that is issued on or after 1 July 2001.
23A Application—section 160AF of the Income Tax Assessment Act 1936
The amendments of section 160AF of the Income Tax Assessment Act 1936 made by this Schedule apply in relation to assessable income of a year of income that begins on or after 1 July 2001.
24 Application—section 160AFD of the Income Tax Assessment Act 1936
The amendment of section 160AFD of the Income Tax Assessment Act 1936 made by this Schedule applies to a class of assessable foreign income of a year of income that begins on or after 1 July 2001.
25 Application—section 160ZZZJ and related provisions of the Income Tax Assessment Act 1936
(1) The amendments of sections 160ZZW and 160ZZZJ of the Income Tax Assessment Act 1936 made by this Schedule applies only to an amount of interest taken under section 160ZZZA of that Act to be paid to, and derived by, a foreign bank during an income year that begins on or after 1 July 2001.
(2) Despite the repeals of sections 160ZZZB and 160ZZZD of the Income Tax Assessment Act 1936 by this Schedule, those sections continue to apply in relation to an amount of interest taken under section 160ZZZA of that Act to be paid to, and derived by, a foreign bank during an income year that began before 1 July 2001.
26 Application—section 262A of the Income Tax Assessment Act 1936
The amendment of section 262A of the Income Tax Assessment Act 1936 made by this Schedule applies:
(a) for records required to be kept under section 820‑960—in relation to an income year that begins on or after 1 July 2002; and
(b) for records required to be kept under section 820‑980—in relation to an income year that begins on or after 1 July 2001.
New Business Tax System (Debt and Equity) Act 2001 (No. 163, 2001)
Schedule 1
118 Application of amendments
Definitions
(1) In this item:
CGT amendments means the amendments made by items 7 to 32 of this Schedule.
debt and equity test amendments means the amendments made by this Schedule (other than the CGT amendments).
Application of debt and equity test amendments
(2) The debt and equity test amendments apply to transactions that take place on or after 1 July 2001. This is so whether the interest in relation to which the transaction takes place was issued before, or is issued on or after, that date. This subitem has effect subject to subitem (6).
Application of debt and equity test amendments to interests issued before 1 July 2001
(6) If an interest was issued before 1 July 2001, the debt and equity test amendments:
(a) apply only to transactions that take place in relation to the interest on or after 1 July 2004 if the issuer of the interest does not make an election under paragraph (b); and
(b) apply to transactions that take place in relation to the interest on or after 1 July 2001 if the issuer elects to have this paragraph apply to the interest.
(7) For the purposes of subitem (6), an interest is taken to be issued on or after 1 July 2001 if:
(a) the interest is issued on or after that date; or
(b) the interest is issued before that date; and:
(i) the terms of the interest are altered on or after that date; or
(ii) the interest is rolled over on or after that date; or
(iii) the original term of the interest is extended on or after that date.
In applying subparagraph (b)(i), disregard minor alterations that do not affect rights and obligations in relation to the interest.
(9) If paragraph (6)(a) applies to an interest:
(a) paragraph 164‑10(1)(b) of the Income Tax Assessment Act 1997 applies to the interest as if the second reference in that paragraph to “1 July 2001” were instead a reference to “1 July 2004”; and
(b) section 164‑15 of the Income Tax Assessment Act 1997 applies to the interest as if the following references were instead references to “1 July 2004”:
(i) the first reference in subsection 164‑15(3) to “1 July 2001”;
(ii) the reference in subsection 164‑15(3) to “that day”;
(iii) the references in paragraph 164‑15(3)(b) and subsection 164‑15(4) to “1 July 2001”.
(10) An election in relation to an interest is effective for the purposes of paragraph (6)(b) only if:
(a) the election is lodged with the Commissioner within:
(i) 90 days after the day on which this Act receives the Royal Assent; or
(ii) such further time as the Commissioner allows; and
(b) an election under paragraph (6)(b) is made in relation to all other interests that:
(i) were issued by the issuer before 1 July 2001; and
(ii) are substantially similar to that interest and in relation to which an election under that subitem can be made; and
(c) the election contains the following information:
(i) the name of the issuer;
(ii) the tax file number of the issuer;
(iii) the legal form of the interest;
(iv) ASX code or other stock exchange listing code allotted to the issue (if applicable);
(v) the date of the issue;
(vi) the face value of the issue;
(vii) the number of interests of that kind on issue when the election is made;
(viii) coupon/dividend rates and terms including contingencies;
(ix) maturity details;
(x) redemption details and terms including contingencies;
(xi) conversion/exercise details.
An election under paragraph (6)(b) cannot be revoked.
(11) The Commissioner may allow further time under subparagraph (10)(a)(ii) if he or she:
(a) is satisfied that the issuer would otherwise not have sufficient opportunity to make the election; or
(b) otherwise considers it reasonable to do so.
(12) If:
(a) paragraph (6)(a) applies to an interest; and
(b) on or after 1 July 2001 and before 1 July 2004:
(i) the terms of the interest are altered; or
(ii) the interest is rolled over; or
(iii) the original term of the interest is extended;
then:
(c) the debt and equity test amendments apply to the transactions in relation to the interest that take place after the event referred to in paragraph (b) occurs; and
(d) subitem (9) applies to the interest as if references in that subitem to 1 July 2004 were references to the time when that event occurs.
In applying subparagraph (b)(i), disregard minor alterations that do not affect rights and obligations in relation to the interest.
(13) A reference in this item to a transaction includes a reference to:
(a) making a return; and
(b) paying a dividend or unit trust dividend; and
(c) making a distribution in relation to a unit trust; and
(d) paying, crediting or lending an amount; and
(e) making a non‑share distribution; and
(f) forgiving a debt; and
(g) redeeming, cancelling or buying back an interest; and
(h) converting an interest.
Taxation Laws Amendment Act (No. 2) 2001 (No. 167, 2001)
Schedule 2
3 Application
The amendments of the Income Tax Assessment Act 1936 made by this Schedule apply to transfers on or after 1 July 1998.
Schedule 4
7 Application
The amendments of the Income Tax Assessment Act 1936 made by items 5 and 6 of this Schedule apply to gifts made in the 1996‑97 income year and earlier income years.
Schedule 5
4 Application
The amendments of the Income Tax Assessment Tax 1936 made by this Schedule apply to income derived on or after 1 July 2000.
Schedule 6
3 Application
The amendments of the Income Tax Assessment Act 1936 made by this Schedule apply to assessments for the 1999‑2000 income year and all later income years.
Taxation Laws Amendment Act (No. 5) 2001 (No. 168, 2001)
Schedule 2
3 Exclusion of subsection 48(2) of Acts Interpretation Act
Subsection 12(2) of the Legislative Instruments Act 2003 does not apply, and is taken never to have applied, to a regulation, or a provision of regulations, amending Schedule 14 to the Income Tax Regulations, so as to omit items 501, 502 and 509 of that Schedule, with effect on and from 1 July 2000.
Taxation Laws Amendment Act (No. 6) 2001 (No. 169, 2001)
Schedule 2
3 Application
The amendments made by this Schedule apply in relation to income derived after 30 June 2000.
Schedule 6
19 Application
(1) The amendments made by this Schedule (other than items 4A, 4B, 16C to 16J, 16L, 18 and 18A) apply, and are taken to have applied, to assessments for the 2000‑2001 income year and later income years.
(2) However, a declaration made under subitem 26(2) of Schedule 1 to the New Business Tax System (Alienation of Personal Services Income) Act 2000 has effect, and is taken to have had effect, in relation to the amendments made by this Schedule in the same way that it has, and had, effect in relation to the amendments made by Part 1 of that Schedule.
(2B) The amendments made by items 16C to 16K apply on and after the day on which this Act receives the Royal Assent.
Taxation Laws Amendment (Research and Development) Act 2001
(No. 170, 2001)
Schedule 1
6 Application
The amendment made by item 5 applies to activities that commence to be carried on after 12 am, by legal time in the Australian Capital Territory, at the start of 1 July 2002.
Schedule 2
2 Application
The amendment made by this Part applies to expenditure incurred by an eligible company on:
(a) the acquisition, or the construction, under a contract entered into on or after 1 July 1985, of a unit of plant; or
(b) the construction by the company, being construction that commenced on or after 1 July 1985, of a unit of plant.
51 Application
The amendments made by this Division to the Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997 apply to assessments for the income year in which 29 January 2001 occurs and for later income years.
Schedule 3
19 Application
(1) Subject to subitem (2), the amendments made by this Schedule apply to assessments for the first year of income starting after 30 June 2001 and for later years.
Schedule 4
11 Application
The amendments made by this Schedule apply to expenditure incurred in the first year of income starting after 30 June 2001.
Schedule 2
92 Application
The amendments made by this Division to the Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997 apply to assessments for the income year in which 1 July 2001 occurs and for later income years.
Taxation Laws Amendment (Superannuation) Act (No. 1) 2002
(No. 15, 2002)
Schedule 1
21 Application
The amendments made by this Schedule apply to payments made on or after 1 July 2002.
Taxation Laws Amendment Act (No. 1) 2002 (No. 26, 2002)
9 Application of amendments
(1) The amendments made by Part 1 of this Schedule apply to expenditure incurred on or after 2 October 2001 and on or before 30 June 2006.
(3) The amendments made by Part 3 of this Schedule apply to expenditure incurred by a taxpayer in an income year after the taxpayer’s income year that includes 21 September 2002 and before the taxpayer’s income year that includes 1 July 2006.
Taxation Laws Amendment (Film Incentives) Act 2002 (No. 27, 2002)
Schedule 1
12 Application
The amendments made by this Schedule apply to expenditure incurred at any time (whether before or after the commencement of this Schedule).
Taxation Laws Amendment (Baby Bonus) Act 2002 (No. 32, 2002)
4 Application
The amendments made by this Act apply to assessments for the 2001‑02 income year and later income years.
Taxation Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2002 (No. 39, 2002)
Schedule 2
3 Application of amendments
The amendments made by items 1 and 2 apply to assessments for the 1997‑98 year of income and later years of income.
Taxation Laws Amendment (Superannuation) Act (No. 2) 2002
(No. 51, 2002)
4 Amendment of assessments
Section 37 of the Superannuation Guarantee (Administration) Act 1992 does not prevent the amendment of an assessment for the purposes of giving effect to this Act.
Schedule 1
202 Application of amendments made by Part 2
(2) The amendments made by items 170 to 186 apply in relation to assessments under the Income Tax Assessment Act 1936 for the 2003‑2004 year of income and later years of income.
Schedule 3
4 Application of amendments made by Part 1
The amendments made by Part 1 apply in relation to assessments for the 2002‑2003 year of income and later years of income.
Schedule 4
3 Application of amendments
The amendments made by items 1 and 2 apply in relation to assessments for the 2002‑2003 year of income and later years of income.
Schedule 5
2 Application of amendment
The amendment made by item 1 applies in relation to assessments for the 2002‑2003 year of income and later years of income.
Taxation Laws Amendment Act (No. 4) 2002 (No. 53, 2002)
Schedule 1
47 Application—amendment of section 160AF of the Income Tax Assessment Act 1936
The amendment of section 160AF of the Income Tax Assessment Act 1936 made by this Schedule applies in relation to assessable income of a year of income that begins on or after 1 July 2001.
48 Application—amendment of section 262A of the Income Tax Assessment Act 1936
The amendment of section 262A of the Income Tax Assessment Act 1936 made by this Schedule applies in relation to a year of income that begins on or after 1 July 2001.
Taxation Laws Amendment Act (No. 2) 2002 (No. 57, 2002)
Schedule 1
11 Application
(1) The amendment made by item 1 of this Schedule applies to:
(a) franking deficit tax for franking years ending on or after 1 July 2001; and
(b) deficit deferral tax in relation to PAYG instalments paid during a franking year ending on or after 1 July 2001.
(2) The amendment made by item 2 of this Schedule applies to:
(a) the payment of a class C franked dividend to a shareholder of a company on or after 1 July 2001; and
(b) a trust amount or partnership amount that relates, directly or indirectly, to payment of a class C franked dividend to a shareholder in a company on or after 1 July 2001.
(3) The amendment made by item 4 of this Schedule applies to dividends paid on or after 1 July 2001.
(4) The amendment made by item 5 of this Schedule applies to deficit deferral tax in relation to PAYG instalments paid during a franking year ending on or after 1 July 2001.
Schedule 3
4 Application
The amendments made by this Schedule apply to dividends paid on or after 1 July 2000.
Schedule 4
4 Application
(1) The amendments made by items 1 and 2 of this Schedule apply to assessments for years of income that begin on or after 1 July 2000.
Schedule 5
2 Application
The amendment made by this Schedule applies to trust amounts that are attributable to dividends paid on or after 1 July 2000.
Schedule 6
3 Application
The amendments made by this Schedule apply to assessments for the 2000‑2001 year of income and later years of income.
Schedule 9
41 Application
The amendments made by items 1 and 6 apply to gifts made after 30 June 1985 and before 1 July 1997.
42 Application
The amendments made by items 2, 3 and 5 apply to gifts made after 22 July 1994 and before 1 July 1997.
43 Application
The amendments made by items 4 and 7 apply to gifts made after 14 September 1993 and before 1 July 1997.
44 Application
The amendment made by item 8 applies to gifts made after 18 March 1985 and before 1 July 1997.
Schedule 11
5 Application
The amendments made by this Schedule apply to CGT events happening on or after 10 December 1999.
Schedule 12
6 Application
The amendment made by item 5 applies to assessments in respect of income for the 1998‑99 year of income and all later years of income.
9 Application
The amendment made by item 8 applies to assessments for the 1998‑99 income year and later income years.
13 Application
The amendment made by item 12 applies in relation to income derived on or after 1 July 1997.
86 Application
An item in a Schedule to an Act that is repealed by an item in this Part is taken never to have had any effect.
New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 (No. 90, 2002)
Schedule 10
2 Basic rule about application of section 160AFE
(1) Section 160AFE of the Income Tax Assessment Act 1936 as amended by this Schedule applies in relation to a taxpayer for each of its:
(a) income years starting after 30 June 2003; and
(b) non‑membership periods (if any) under section 701‑30 of the Income Tax Assessment Act 1997 starting after 30 June 2003.
(2) This item does not apply in relation to a taxpayer to which item 3 applies.
Note: If you have a substituted accounting period, item 5 or 7 may apply instead of this item.
3 Different application for members of certain groups
(1) This item applies to a taxpayer if:
(a) the taxpayer becomes a member of a consolidated group or MEC group on the day (the consolidation day) the group comes into existence; and
(b) the consolidation day either is before 1 July 2003 or is both:
(i) the first day of the first income year starting after 30 June 2003 of the group’s head company (for a consolidated group) or provisional head company (for a MEC group) on the consolidation day; and
(ii) before 1 July 2004; and
(c) the taxpayer was not a member of a consolidated group or MEC group before the consolidation day.
(2) Section 160AFE of the Income Tax Assessment Act 1936 as amended by this Schedule applies in relation to the taxpayer for each of its:
(a) income years starting on or after the consolidation day; and
(b) non‑membership periods (if any) under section 701‑30 of the Income Tax Assessment Act 1997 starting on or after the consolidation day.
Note: If you become the head company of a consolidated group on or after 1 July 2002 and before 1 July 2003 on a day that is not the start of your income year, item 6 will apply instead of this item.
4 Transitional provision for section 160AFE
For the purposes of paragraph 160AFE(3)(d) of the Income Tax Assessment Act 1936 as in force immediately after the commencement of this Schedule, take account of an amount utilised or applied under section 160AFE of that Act as in force either before or after that commencement for a year of income ending before or after that commencement.
5 Modification of basic rule
(1) This item applies to a taxpayer instead of item 2 if the taxpayer:
(a) has a substituted accounting period; and
(b) is not a member of a consolidated group or a MEC group.
(2) Section 160AFE of the Income Tax Assessment Act 1936 as amended by this Schedule applies to the taxpayer from 1 July 2003. That section applies from 1 July 2003 until the start of the taxpayer’s next income year as if that period were an income year.
(3) Section 160AFE of the Income Tax Assessment Act 1936 as in force just before the commencement of this Schedule (the old section 160AFE) applies to the taxpayer from the start of the taxpayer’s income year in which 1 July 2003 occurs until the end of 30 June 2003 as if that period were an income year.
6 Consolidation day on or after 1 July 2002 and before 1 July 2003
(1) This item applies to a taxpayer instead of item 3 if:
(a) the taxpayer becomes the head company of a consolidated group or MEC group on the day (also the consolidation day) the group comes into existence; and
(b) the consolidation day is on or after 1 July 2002 and before 1 July 2003 and is not the start of an income year (whether or not the taxpayer has a substituted accounting period).
(2) Section 160AFE of the Income Tax Assessment Act 1936 as amended by this Schedule applies to the taxpayer from the consolidation day. That section applies from the consolidation day until the end of the taxpayer’s income year in which that day occurs as if that period were an income year.
(3) If:
(a) the consolidation day is after 1 July 2002; and
(b) the taxpayer does not have a substituted accounting period;
the old section 160AFE applies to the taxpayer from 1 July 2002 until just before the consolidation day. If the taxpayer so chooses, it applies as if that period were an income year.
(4) If the taxpayer has a substituted accounting period, the old section 160AFE applies to the taxpayer from the start of the taxpayer’s income year in which the consolidation day occurred until just before the consolidation day. If the taxpayer so chooses, it applies as if that period were an income year.
7 Consolidation day on or after 1 July 2003
(1) This item applies to a taxpayer instead of item 2 if:
(a) the taxpayer has a substituted accounting period; and
(b) the taxpayer becomes the head company of a consolidated group or MEC group on the day (also the consolidation day) the group comes into existence; and
(c) the consolidation day is on or after 1 July 2003 and is not the start of the taxpayer’s next income year.
(2) Section 160AFE of the Income Tax Assessment Act 1936 as amended by this Schedule applies to the taxpayer from 1 July 2003. That section applies from 1 July 2003 until the start of the taxpayer’s next income year as if that period were an income year.
(3) The old section 160AFE applies to the taxpayer from the start of the taxpayer’s income year in which 1 July 2003 occurs until the end of 30 June 2003. If the taxpayer so chooses, it applies as if that period were an income year.
8 Applying old section 160AFE to part years
(1) Subitem (2) has effect for the purposes of applying the old section 160AFE:
(a) to a taxpayer as mentioned in item 5, 6 or 7; and
(b) for a period that is shorter than an income year.
(2) The requirement in paragraph (1D)(b) of that section that the income company be a group company in relation to the credit company in relation to the current year of income has effect as if it were a requirement that the income company be a group company in relation to the credit company:
(a) continuously for a period of at least 12 months ending on the day before the day on which section 160AFE of the Income Tax Assessment Act 1936 as amended by this Schedule starts to apply to the taxpayer; or
(b) from the time when the income company and the credit company were both in existence, if that period is shorter.
9 Applying old section 160AFE to non‑membership periods
(1) Subitem (2) has effect for the purposes of applying the old section 160AFE to a taxpayer that:
(a) becomes a subsidiary member of a consolidated group or MEC group; and
(b) has a period referred to in section 701‑30 as a non‑membership period.
(2) The requirement in paragraph (1D)(b) of the old section 160AFE that the income company be a group company in relation to the credit company in relation to the current year of income has effect as if it were a requirement that the income company be a group company in relation to the credit company:
(a) continuously for a period of at least 12 months ending on the last day of the non‑membership period; or
(b) from the time when the income company and the credit company were both in existence, if that period is shorter.
10 Parts of income years not earlier income years
Any period that is shorter than an income year and that is treated as if it were an income year for the purposes of item 5, 6 or 7 of this Schedule is taken not to be an earlier income year for the purposes of section 160AFE of the Income Tax Assessment Act 1936 as amended by this Schedule.
11 Transitional provision for section 160AF
(1) This item applies if:
(a) because of item 5, 6 or 7, old section 160AFE applies to a taxpayer as if a period were an income year (the notional income year); and
(b) the taxpayer has an initial excess credit (within the meaning of old section 160AFE) in relation to the notional income year; and
(c) the taxpayer transfers all or part (the extent of the transfer being the transfer amount) of that initial excess credit under old section 160AFE for utilisation by another company in the notional income year.
(2) Section 160AF of the Income Tax Assessment Act 1936 applies to the taxpayer for the year of income in which the notional income year ends as if the amount of foreign tax paid by the taxpayer mentioned in paragraph 160AF(1)(b) of that Act were reduced by the transfer amount.
(3) This item operates separately in relation to each class of foreign income identified in subsection 160AF(7) of the Income Tax Assessment Act 1936, as if the taxpayer’s foreign income of that class for a year of income were the whole of the taxpayer’s foreign income for that year.
Schedule 16
54 Transitional
A company that makes payments in respect of shares in the company under a demerger that happens on or after 1 July 2002 and before this Act receives the Royal Assent can choose to apply section 45B of the Income Tax Assessment Act 1936 as that section existed before the amendments made by this Act to the demerger rather than that section as amended by this Act if:
(a) the head entity of the demerger group is a listed public company; and
(b) the only CGT events (if any) that happen under the demerger to all original interests in that head entity are CGT event A1, CGT event C2 or CGT event G1.
55 Application
The amendments made by this Schedule apply to demergers happening on or after 1 July 2002.
Taxation Laws Amendment Act (No. 3) 2002 (No. 97, 2002)
Schedule 3
2 Application
The amendment made by this Schedule applies to dividends paid on or after 1 July 2000.
New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 (No. 117, 2002)
Schedule 16
3 Application of item 2
The amendment of the Income Tax Assessment Act 1936 made by item 2 of this Schedule applies to dividends paid after 30 June 2002.
Taxation Laws Amendment Act (No. 5) 2002 (No. 119, 2002)
Schedule 3
100 Application of amendments
(1) The amendments made by items 1 to 39 (inclusive), 50 to 58 (inclusive) and 76 of this Schedule apply to:
(a) depreciating assets:
(i) you start to hold under a contract entered into after 30 June 2001; or
(ii) you constructed where the construction started after that day; or
(iii) you start to hold in some other way after that day; and
(b) expenditure that does not form part of the cost of a depreciating asset incurred after that day.
Schedule 4
19 Application
The amendments made by Part 1 of this Schedule apply to:
(a) an amount withheld under Division 12 in Schedule 1 to the Taxation Administration Act 1953 during a financial year beginning on or after 1 July 2001; and
(b) a payment received during a financial year beginning on or after 1 July 2001 that gives rise to a liability under Division 13 of that Schedule; and
(c) a non‑cash benefit provided during a financial year beginning on or after 1 July 2001 that gives rise to a liability under Division 14 of that Schedule.
Taxation Laws Amendment (Venture Capital) Act 2002 (No. 136, 2002)
Schedule 2
28 Application
The amendments made by this Schedule apply, and are taken to have applied, to the 2002‑2003 income year and later income years.
Petroleum (Timor Sea Treaty) (Consequential Amendments) Act 2003
(No. 10, 2003)
Schedule 1
81 Application—items 34 to 52
The amendments made by items 34 to 52 of this Schedule apply in relation to events that occur, and circumstances that arise, on or after 20 May 2002.
Taxation Laws Amendment Act (No. 1) 2003 (No. 12, 2003)
Schedule 1
10 Application
(1) The amendment made by item 4 applies to income that consists of interest derived on or after 29 August 2001.
(2) The amendment made by item 5 applies to an amount of the transfer price of a debenture that is, on or after 29 August 2001, deemed by section 128AA to be income that consists of interest.
(3) The amendment made by item 6 applies to the issue of a debenture by a company on or after 29 August 2001.
(4) The amendment made by item 7 applies to interest paid on or after 29 August 2001 by a company in respect of a debenture.
Schedule 3
11 Application
The amendments made by this Part apply to an assessment for the income year including 1 January 2003 or a later income year.
New Business Tax System (Consolidation and Other Measures) Act 2003
(No. 16, 2003)
Schedule 9
12 Application of amendments
(1) The amendments of the Income Tax Assessment Act 1936 made by this Schedule apply in relation to a dividend or non‑share dividend paid after 30 June 2003 by a company, except a company to which subitem (2) applies.
(2) This subitem and subitem (3) apply to a company if:
(a) the company becomes a member of a consolidated group or MEC group on the day (the consolidation day) the group comes into existence; and
(b) the consolidation day either is before 1 July 2003 or is both:
(i) the first day of the first income year starting after 30 June 2003 of the group’s head company (for a consolidated group) or provisional head company (for a MEC group) on the consolidation day; and
(ii) before 1 July 2004; and
(c) the company was not a member of a consolidated group or MEC group before the consolidation day.
(3) The amendments of the Income Tax Assessment Act 1936 made by this Schedule apply in relation to a dividend or non‑share dividend paid by a company on or after the consolidation day.
(4) A term used in subitem (2) and defined in the Income Tax Assessment Act 1997 has the same meaning in that subitem as it has in that Act.
(5) The amendments of the Income Tax Assessment Act 1936 made by this Schedule apply to a dividend or a non‑share dividend that:
(a) is paid by a company (the paying company) after 30 June 2002; and
(b) is paid to a company that:
(i) is related (within the meaning of subsection 51AE(16) of that Act) to the paying company; and
(ii) is a member of a consolidated group or MEC group.
(6) A term used in paragraph (5)(a) or (b) and defined in the Income Tax Assessment Act 1997 has the same meaning in that paragraph as it has in that Act.
(7) To avoid doubt, the amendments of the Income Tax Assessment Act 1936 made by this Schedule apply to a dividend or a non‑share dividend if they apply to it under subitem (5), even if they would not apply to it under subitem (1) or (3).
Schedule 29
14 Application
(1) The amendments made by items 8 to 10 of this Schedule apply to income derived after 30 June 2002.
(2) The amendment made by item 11 of this Schedule applies to distributions that are made or that flow indirectly after 30 June 2002.
Taxation Laws Amendment (Personal Income Tax Reduction) Act 2003
(No. 45, 2003)
The amendments made by Schedule 1 apply to assessments for the 2003‑2004 income year and later income years.
Taxation Laws Amendment Act (No. 2) 2003 (No. 65, 2003)
Schedule 3
2 Application
The amendment of the Income Tax Assessment Act 1936 made by this Schedule applies to assessments made after the commencement of section 4 of this Act.
Note: Section 4 of this Act allows the amendment of an assessment, made before the commencement of that section, for the purposes of giving effect to this Act.
Schedule 4
2 Application
The amendment made by this Schedule applies to assessments in respect of the 2002‑03 year of income and for all later years of income.
Schedule 5
4 Application
The amendment made by item 2 of this Schedule applies in relation to income derived on or after 1 January 2000.
Taxation Laws Amendment Act (No. 4) 2003 (No. 66, 2003)
Schedule 1
18 Application
The amendments made by this Schedule apply to commutations occurring, and residual capital values becoming payable, on or after 1 July 2001.
Schedule 3
140 Application
(1) Subject to this item, the amendments made by this Schedule apply to assessments for the 2003‑04 income year and later income years.
(5) The amendments made by items 41, 42, 43, 44, 45, 126, 127 and 128 apply to amounts derived on or after 1 July 2000.
(7) The amendment made by item 46A applies to distributions that are made or that flow indirectly after 30 June 2002.
Taxation Laws Amendment Act (No. 6) 2003 (No. 67, 2003)
Schedule 9
18 Transitional provision
(1) This item applies to an application made under:
(b) section 265 of the Income Tax Assessment Act 1936 before its repeal by item 15 of this Schedule.
(2) If the application has not been finally determined before the commencement of this Schedule, Division 340 in Schedule 1 to the Taxation Administration Act 1953 applies as if the application had been made under section 340‑5 in Schedule 1 to that Act.
19 Application provision
A person may be released, under Division 340 in Schedule 1 to the Taxation Administration Act 1953, from a liability that the person has incurred even if the liability was incurred before the commencement of this Schedule.
Taxation Laws Amendment Act (No. 3) 2003 (No. 101, 2003)
5 No tax consequences result from AGL’s corporate conversion etc.
(1) The object of this section is to ensure that no taxation consequences (other than those arising under subsections (9) and (10)) arise in relation to any person as a result of:
(a) AGL’s corporate conversion; or
(b) AGL’s registration; or
(c) the operation of any provision of the Conversion Act; or
(d) any action taken under any provision of the Conversion Act.
(2) In resolving any ambiguity as to the meaning of this section, an interpretation that is consistent with the object of this section is to be preferred to an interpretation that is not consistent with that object.
(3) This section only has effect for the purposes of any Commonwealth laws relating to taxation, including, but not limited to:
(a) the income tax law; and
(b) the GST law; and
(c) the fringe benefits tax law; and
(d) the A New Tax System (Australian Business Number) Act 1999; and
(e) the Taxation Administration Act 1953; and
(f) the International Tax Agreements Act 1953; and
(g) the Taxation (Interest on Overpayments and Early Payments) Act 1983; and
(h) the Superannuation Guarantee (Administration) Act 1992; and
(i) the Superannuation Guarantee Charge Act 1992.
(4) AGL, corporatised AGL and registered AGL are taken to be, and to have always been, the same company and the same entity.
(5) Subsections (6) to (8) do not limit, by implication, any other effects of this section.
(6) No taxation consequences (other than those arising under subsections (9) and (10)) are taken to have arisen in relation to any person as a result of:
(a) AGL’s corporate conversion; or
(b) AGL’s registration; or
(c) the operation of any provision of the Conversion Act; or
(d) any action taken under any provision of the Conversion Act.
(7) The legal and beneficial ownership of:
(a) shares in AGL; and
(b) interests in shares in AGL;
are taken not to have altered as a result of AGL’s corporate conversion or AGL’s registration. However, this subsection does not imply that those shares are not shares in corporatised AGL or registered AGL.
(8) Anything done by or to:
(a) AGL’s Secretary; or
(b) the estate of AGL’s Secretary; or
(c) a replacement trustee in respect of the trust created by subclause 4(1)(c) of Schedule 3 to the Conversion Act;
as a result of the operation of clause 4 of Schedule 3 to the Conversion Act is taken to have been done by or to corporatised AGL or registered AGL, as the case may be.
(9) Despite any other provision of this section:
(a) the item 9 of Schedule 2 to the Taxation Laws Amendment (Company Law Review) Act 1998 that was included in that Act as originally enacted; and
(b) the item of Schedule 2 to the Taxation Laws Amendment (Company Law Review) Act 1998 that was inserted in that Act by item 7 of Schedule 1 to the Taxation Laws Amendment Act (No. 7) 1999;
apply to AGL as if the reference in each of those items of Schedule 2 to the Taxation Laws Amendment (Company Law Review) Act 1998 to “Schedule 5 to the Company Law Review Act 1998” were a reference to “Schedule 4 to the Conversion Act”.
Note: Item 7 of Schedule 1 to the Taxation Laws Amendment Act (No. 7) 1999 inserted a second item 9 of Schedule 2 to the Taxation Laws Amendment (Company Law Review) Act 1998 into that Act.
(10) Despite any other provision of this section, any Commonwealth law that:
(a) relates to taxation; and
(b) has a substantially similar effect to an item of Schedule 2 to the Taxation Laws Amendment (Company Law Review) Act 1998 mentioned in paragraph (9)(a) or (9)(b); and
(c) commences after the commencement of this section;
is taken to be modified in such a way as to enable it to apply to AGL and to apply to AGL in that modified form.
(11) In this section:
AGL has the same meaning as in the Conversion Act.
AGL’s corporate conversion means AGL being constituted as a body corporate under the Conversion Act.
AGL’s registration means corporatised AGL’s registration as a public company limited by shares under Part 5B.1 of the Corporations Act 2001 in accordance with the Conversion Act.
AGL’s Secretary means a person who was the Secretary of AGL under AGL’s constitution immediately before AGL’s corporate conversion.
Conversion Act means the AGL Corporate Conversion Act 2002 of New South Wales.
corporatised AGL has the same meaning as in the Conversion Act.
registered AGL has the same meaning as in the Conversion Act.
taxation means any taxation imposed under a Commonwealth law.
(12) Other expressions mean the same in this section as in the Income Tax Assessment Act 1997.
Schedule 1
21 Application
The amendment made by item 1 applies to gifts made after 8 January 1992 and before 1 July 1997.
Schedule 3
6 Application
The amendments made by this Schedule apply to distributions made on or after 1 July 2002.
Schedule 4
2 Application
The amendment made by this Schedule applies, and is taken to have applied, in relation to the 1999‑2000 income year and later income years.
Taxation Laws Amendment Act (No. 8) 2003 (No. 107, 2003)
Schedule 1
9 Application
(2) The amendments made by Part 2 of this Schedule apply to non‑share dividends paid after 30 June 2001 and before 1 July 2002.
Schedule 6
3 Application
The amendment of the Income Tax Assessment Act 1936 made by item 2 of this Schedule applies to deposits and transfers made on or after 1 July 2003.
Schedule 7
12 Application
The amendment made by item 11 applies in relation to an entity’s assessments for the first income year (within the meaning of section 205‑75 of the Income Tax (Transitional Provisions) Act 1997) and later income years.
Superannuation (Government Co‑contribution for Low Income Earners) (Consequential Amendments) Act 2003 (No. 111, 2003)
Schedule 1
25 Application of amendments
The amendments made by Part 1 of this Schedule apply in relation to contributions made to complying superannuation funds and RSAs on or after 1 July 2003.
Family and Community Services and Veterans’ Affairs Legislation Amendment (2003 Budget and Other Measures) Act 2003
(No. 122, 2003)
Schedule 2
18 Application
The amendments of the Income Tax Assessment Act 1936 made by this Schedule apply to information acquired before, on or after the commencement of this Schedule by the Commissioner, a Second Commissioner, a Deputy Commissioner or a person authorised by the Commissioner, a Second Commissioner or a Deputy Commissioner.
New Business Tax System (Taxation of Financial Arrangements) Act (No. 1) 2003 (No. 133, 2003)
Schedule 1
17 Application of amendments
(1) The amendments of sections 26BB and 70B of the Income Tax Assessment Act 1936 made by this Schedule apply to the disposal or redemption of a traditional security if the traditional security was issued after 7.30 pm, by legal time in the Australian Capital Territory, on 14 May 2002.
Schedule 4
77 Transitional—Division 3B of Part III of the Income Tax Assessment Act 1936
(1) Despite the repeal of Division 3B of Part III of the Income Tax Assessment Act 1936 by this Schedule, that Division continues to apply:
(a) in relation to an eligible contract entered into before the applicable commencement date (within the meaning of Division 775 of the Income Tax Assessment Act 1997); or
(b) for the purposes of working out the assessable income or allowable deductions of:
(i) an ADI or a non‑ADI financial institution (within the meaning of the Income Tax Assessment Act 1997); or
(ii) a securitisation vehicle (within the meaning of that Act); or
(iii) an entity that satisfies the requirements of subsection 820‑39(3) of that Act;
as if that repeal had not happened.
Note: For applicable commencement date, see section 775‑155 of the Income Tax Assessment Act 1997.
(2) Despite the following amendments:
(a) the amendment of subsection 20‑30(2) of the Income Tax Assessment Act 1997 by this Schedule;
(b) the amendment of subsection 170(10) of the Income Tax Assessment Act 1936 by this Schedule;
subsection 20‑30(2) of the Income Tax Assessment Act 1997 and subsection 170(10) of the Income Tax Assessment Act 1936 continue to apply, in relation to the former Division 3B of Part III of the Income Tax Assessment Act 1936, as if those amendments had not been made.
(3) Despite the amendments made by this Schedule that omit references to sections 82Y and 82Z of the Income Tax Assessment Act 1936 from sections 15 and 16 of the Financial Corporations (Transfer of Assets and Liabilities) Act 1993, sections 15 and 16 of the Financial Corporations (Transfer of Assets and Liabilities) Act 1993 continue to apply, in relation to the former sections 82Y and 82Z of the Income Tax Assessment Act 1936, as if those amendments had not been made.
78 Transitional—sections 20, 102AAX and 391 of the Income Tax Assessment Act 1936 and sections 103‑20 and 376‑60 of the Income Tax Assessment Act 1997
(1) Despite the repeals of sections 20, 102AAX and 391 of the Income Tax Assessment Act 1936 and sections 103‑20 and 376‑60 of the Income Tax Assessment Act 1997 by this Schedule, those sections continue to apply, in relation to a transaction, event or thing:
(a) that involves an amount in a foreign currency; and
(b) to which section 960‑50 of the Income Tax Assessment Act 1997 does not apply;
as if those repeals had not happened.
(2) Despite the following amendments:
(a) the amendment of section 102AAW of the Income Tax Assessment Act 1936 by this Schedule;
(b) the amendment of section 389 of the Income Tax Assessment Act 1936 by this Schedule;
sections 102AAW and 389 of the Income Tax Assessment Act 1936 continue to apply, in relation to the former section 20 of the Income Tax Assessment Act 1936, as if those amendments had not been made.
Taxation Laws Amendment Act (No. 5) 2003 (No. 142, 2003)
Schedule 1
1 Application
The amendments made by this Schedule apply in relation to an income year that begins on or after 1 July 2001.
Schedule 2
1 Application
The amendments made by this Schedule (except Part 5) apply in relation to an income year that begins on or after 1 July 2002.
Schedule 4
2 Application
The amendment made by this Schedule applies to expenditure incurred on or after 1 July 2002.
Schedule 8
24 Application of amendments
(1) The amendments made by items 1, 2 and 3 apply in relation to the deduction of a tax loss in the year of income including 1 July 2002 and each later year of income.
Taxation Laws Amendment Act (No. 2) 2004 (No. 20, 2004)
Schedule 4
9 Application
The amendments made by this Schedule apply to sugar industry exit grants received on or after 1 February 2003.
Schedule 8
14 Application of amendments made by this Schedule
The amendments made by this Schedule apply on and after 1 July 2002.
Military Rehabilitation and Compensation (Consequential and Transitional Provisions) Act 2004 (No. 52, 2004)
Schedule 4
14 Application of amendments
(1) The amendments made by Part 1 of this Schedule apply to assessments for the 2004‑05 year of income and later years of income.
15 Amendment of assessments
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment made before the commencement of this item for the purposes of giving effect to subsections 51‑32(1) and (4) and 51‑33(1) of the Income Tax Assessment Act 1997 substituted by item 10 of this Schedule.
Family Assistance Legislation Amendment (More Help for Families—Increased Payments) Act 2004 (No. 59, 2004)
Schedule 2
35 Application
The amendment of the Income Tax Assessment Act 1936 made by this Division applies to assessments for the 2004‑05 year of income and later years of income.
Family Assistance Legislation Amendment (More Help for Families—One‑off Payments) Act 2004 (No. 60, 2004)
Schedule 3
1 Administrative scheme for one‑off payments to families and carers
(1) Subject to this item, the Minister may, in writing, determine a scheme under which one‑off payments may be made to families and carers in particular circumstances. The Minister may, in writing, vary or revoke the scheme.
(2) The circumstances in which the scheme provides for payments must be circumstances:
(a) in which the Minister considers that Part 5 of the A New Tax System (Family Assistance) Act 1999, and Parts 2.5A and 2.19A of the Social Security Act 1991, do not produce appropriate results; and
(b) occurring in the financial year starting on 1 July 2003.
(3) The scheme must not provide for payments to be made at a time that is after 30 June 2007.
(4) Without limiting the generality of subitem (1), the scheme may deal with the following:
(a) the circumstances in which payments are to be made;
(b) the amount of the payments;
(c) what a person has to do to get a payment;
(d) administrative matters, such as determination of entitlement and how and when payments will be made.
(5) An instrument determining, varying or revoking the scheme is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901.
(6) Payments under the scheme are to be made out of the Consolidated Revenue Fund, which is appropriated accordingly.
New International Tax Arrangements Act 2004 (No. 73, 2004)
Schedule 1
13 Application
(1) The amendments made by items 1 to 11 apply to assessments for years of income beginning on or after 1 July 2003.
(2) The amendment made by item 12 applies in relation to notional accounting periods beginning on or after 1 July 2003.
Schedule 2
6 Application
The amendments made by this Schedule apply to debentures issued on or after the day on which this Act commences.
Schedule 3
2 Application
The amendments made by this Schedule apply in relation to statutory accounting periods beginning on or after 1 July 2004.
Schedule 4
2 Application
The amendment made by this Schedule applies to an application of section 136AD of the Income Tax Assessment Act 1936 that occurs on or after the day on which this Act receives the Royal Assent.
Tax Laws Amendment (2004 Measures No. 2) Act 2004 (No. 83, 2004)
Schedule 1
126 Application
(7) The amendments made by items 108 to 115 apply in relation to amounts received or derived by a taxpayer under or in relation to a life assurance policy after the day on which this Act receives the Royal Assent.
Schedule 2
1 Application
Except as provided otherwise, the amendments made by this Schedule apply on and after 1 July 2002.
37 Application
The amendments made by this Part apply for assessments for the year of income including 1 July 2002 and later years of income.
Schedule 3
6 Application
The amendments made by this Schedule apply to things done on or after 2 December 2003.
7 Transitional
(1) This item applies to a limited partnership:
(a) that was formed as a legal entity on or after 2 December 2003 and before the day on which this Act received the Royal Assent; and
(b) in respect of which an application has been made to the PDF Board for registration as a VCLP or an AFOF under the Venture Capital Act 2002; and
(c) that could not be registered or conditionally registered as a VCLP or an AFOF before the day on which this Act received the Royal Assent only because it has a legal personality separate from that of its members.
(2) If the PDF Board decided, before the day on which this Act received the Royal Assent, that it would have registered or conditionally registered a limited partnership to which this item applies as a VCLP or an AFOF under the Venture Capital Act 2002 had this Act received the Royal Assent before that decision was made:
(a) the PDF Board is taken to have granted registration or conditional registration of the limited partnership as a VCLP or an AFOF under that Act on the day on which that decision was made; and
(b) that registration is taken to have been in force for the purposes of section 13‑10 of that Act from that day.
Schedule 9
7 Application
The amendments made by this Schedule apply to payments made on or after 1 July 2004.
Schedule 10
43 Application provisions
(1) The amendments made by items 1 and 2 of this Schedule apply in relation to an exempt institution whose exempt status is disregarded under section 160ARDAB of the Income Tax Assessment Act 1936 on or after 1 July 2000.
Schedule 11
5 Application of amendments of section 160AFE
The application of the amendments of section 160AFE of the Income Tax Assessment Act 1936 made by this Schedule is the same as the application of that section.
Note: For the application of that section, see items 2, 3, 5, 6 and 7 of Schedule 10 to the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002.
Tax Laws Amendment (2004 Measures No. 1) Act 2004 (No. 95, 2004)
Schedule 1
2 Application
The amendment made by this Schedule applies, and is taken to have applied, in relation to the 2002‑03 income year and later income years.
Schedule 7
13 Application of amendments
The amendments made by this Schedule apply in relation to contributions made on or after 1 July 2004.
Schedule 8
8 Application of items 1, 2 and 3
The amendments made by items 1, 2 and 3 of this Schedule apply to payments or loans made, or debts forgiven, on or after 12 December 2002.
9 Application of items 4, 5, 6 and 7
The amendments made by items 4, 5, 6 and 7 of this Schedule apply to payments or loans made, or debts forgiven, on or after the day on which the Bill for this Act was introduced into the House of Representatives.
Schedule 9
9 Application
(1) Subject to subitem (2), the amendment made by item 2 of this Schedule applies to dividends paid after 30 June 2003.
(2) For a taxpayer to which section 46AC of the Income Tax Assessment Act 1936 applies, the amendment made by item 2 of this Schedule applies to dividends paid on or after the consolidation day referred to in that section.
(3) The amendments made by items 1, 3, 4, 5, 6, 7 and 8 of this Schedule apply to dividends paid on or after 1 July 2002.
New International Tax Arrangements (Participation Exemption and Other Measures) Act 2004 (No. 96, 2004)
Schedule 2
140 Application of amendments
(1) The amendments made by Part 1 of this Schedule apply to income years starting on or after 1 July 2004.
(2) Subject to subitem (2A), the amendments made by Parts 2 and 3 of this Schedule apply to things happening after 30 June 2004.
(2A) The amendments made by items 7, 58 and 59 of this Schedule apply to statutory accounting periods starting on or after 1 July 2004.
(3) The amendments made by Parts 4 and 5 of this Schedule apply to income years and statutory accounting periods starting on or after 1 July 2004.
141 Transitional
From 1 July 2004 until regulations are made after the commencement of this item declaring foreign countries or parts of foreign countries to be listed countries or section 404 countries for the purposes of Part X of the Income Tax Assessment Act 1936, that Act has effect as if:
(a) each foreign country or part of a foreign country that, immediately before the commencement of this item, was a broad‑exemption listed country for the purposes of that Part of that Act were a listed country for the purposes of that Part of that Act; and
(b) each foreign country or part of a foreign country that, immediately before the commencement of this item, was a limited‑exemption listed country for the purposes of that Part of that Act were a section 404 country for the purposes of that Part of that Act.
Schedule 3
10 Application
(1) The amendments made by this Schedule apply in relation to statutory accounting periods beginning on or after 1 July 2004.
(2) To avoid doubt, the statutory accounting periods mentioned in subitem (1) include years of income that are assumed to be statutory accounting periods for the purposes of section 23AH of the Income Tax Assessment Act 1936.
Taxation Laws Amendment Act (No. 1) 2004 (No. 101, 2004)
Schedule 1
4 Application of amendments
The amendments made by this Schedule apply to assessments for the 2001‑2002 income year and later income years.
Schedule 8
3 Application
The amendments made by this Schedule apply in respect of service performed on or after 1 July 2001.
Schedule 10
6 Application
The amendments made by this Part have the same application to assessments of a taxpayer, and for working out the attributable income of a CFC, as does Division 830 of the Income Tax Assessment Act 1997.
Note: Division 830 of the Income Tax Assessment Act 1997 is inserted by Part 2 of this Schedule. Its application is given by Division 830 of the Income Tax (Transitional Provisions) Act 1997, which is inserted by Part 3 of this Schedule.
Schedule 11
2 Application
Section 160AQCNDA of the Income Tax Assessment Act 1936 applies in relation to franking years ending after 7.30 pm by legal time in the Australian Capital Territory on 13 May 1997.
18 Application
The amendment of section 6H of the Income Tax Assessment Act 1936 made by this Division applies in relation to years of income ending after 30 June 2000.
20 Application
The amendment of section 102M of the Income Tax Assessment Act 1936 made by this Division applies in relation to years of income ending after 30 June 2000.
22 Application
The amendment of section 128B of the Income Tax Assessment Act 1936 made by this Division applies in relation to dividends paid after 30 June 2000.
24 Application
The amendment of paragraph (a) of the definition of eligible 26AH amount in subsection 160AAB(1) of the Income Tax Assessment Act 1936 made by this Division applies in relation to years of income ending after 30 June 2000.
26 Application
The repeal of paragraph (b) of the definition of eligible 26AH amount in subsection 160AAB(1) of the Income Tax Assessment Act 1936 by this Division applies in relation to policies issued on or after 1 July 2000.
28 Application
The amendment of section 279D of the Income Tax Assessment Act 1936 made by this Division applies to payments made on or after 1 July 2000.
30 Application
The amendment of section 279E of the Income Tax Assessment Act 1936 made by this Division applies to policies issued on or after 1 July 2000.
32 Application
The amendment of section 289A of the Income Tax Assessment Act 1936 made by this Division applies to policies issued on or after 1 July 2000.
34 Application
The amendment of section 272‑125 in Schedule 2F to the Income Tax Assessment Act 1936 made by this Division applies in relation to years of income ending after 30 June 2000.
40 Application
The amendments of section 51AAA of the Income Tax Assessment Act 1936 made by this Division apply in relation to income derived on or after 1 July 2000.
43 Application
The amendments of section 67AAA of the Income Tax Assessment Act 1936 made by this Division apply in relation to financing costs incurred on or after 1 July 2000.
50 Application
The amendment of section 204 of the Income Tax Assessment Act 1936 made by this Division applies in relation to income tax for the 2000‑01 year of income and later years of income.
63 Application
The amendments of section 24AN of the Income Tax Assessment Act 1936 made by this Division apply to income derived on and after 1 July 2000.
65 Application
The amendment of section 6H of the Income Tax Assessment Act 1936 made by this Division applies to assessments for years of income starting on or after 1 July 2000.
68 Application
The amendments of section 27A of the Income Tax Assessment Act 1936 made by this Division apply to assessments for years of income starting on or after 1 July 2000.
70 Application
The amendment of section 103A of the Income Tax Assessment Act 1936 made by this Division applies to years of income starting on or after 1 July 2000.
72 Application
The amendment of section 140C of the Income Tax Assessment Act 1936 made by this Division applies to assessments for years of income starting on or after 1 July 2000.
74 Application
The amendment of section 140ZI of the Income Tax Assessment Act 1936 made by this Division applies to assessments for years of income starting on or after 1 July 2000.
76 Application
The amendment of section 159GP of the Income Tax Assessment Act 1936 made by this Division applies to assessments for years of income starting on or after 1 July 2000.
79 Application
The amendment of subsection 275(1) of the Income Tax Assessment Act 1936 made by this Division applies in relation to years of income starting on or after 1 July 2000.
81 Application
The amendment of subsection 275(5) of the Income Tax Assessment Act 1936 made by this Division applies in relation to policies issued on or after 1 July 2000.
83 Application
The amendment of section 299B of the Income Tax Assessment Act 1936 made by this Division applies to assessments for years of income starting on or after 1 July 2000.
85 Application
The amendment of section 299D of the Income Tax Assessment Act 1936 made by this Division applies to assessments for years of income starting on or after 1 July 2000.
87 Application
The amendment of section 272‑125 in Schedule 2F to the Income Tax Assessment Act 1936 made by this Division applies on and after 1 July 2000.
104 Application
The amendments of section 27A of the Income Tax Assessment Act 1936 made by this Division apply to assessments for years of income starting on or after 1 July 2000.
106 Application
The amendment of section 67AAA of the Income Tax Assessment Act 1936 made by this Division applies to assessments for years of income starting on or after 1 July 2000.
109 Application
The amendments of section 102M of the Income Tax Assessment Act 1936 made by this Division apply to assessments for years of income starting on or after 1 July 2000.
114 Application
The amendments of section 159SJ of the Income Tax Assessment Act 1936 made by this Division apply to assessments for years of income starting on or after 1 July 2000.
116 Application
The amendment of section 279D of the Income Tax Assessment Act 1936 made by this Division applies to assessments for years of income starting on or after 1 July 2000.
119 Application
The amendments of section 290A of the Income Tax Assessment Act 1936 made by this Division apply to years of income starting on or after 1 July 2000.
121 Application
The amendment of section 482 of the Income Tax Assessment Act 1936 made by this Division applies in relation to notional accounting periods starting on or after 1 July 2000.
123 Application
The amendment of section 27A of the Income Tax Assessment Act 1936 made by this Division applies to assessments for years of income starting on or after 1 July 2000.
125 Application
The amendment of section 140C of the Income Tax Assessment Act 1936 made by this Division applies to assessments for years of income starting on or after 1 July 2000.
127 Application
The amendment of section 159GP of the Income Tax Assessment Act 1936 made by this Division applies to assessments for years of income starting on or after 1 July 2000.
133 Application
The amendment of section 102M of the Income Tax Assessment Act 1936 made by this Part applies in relation to the year of income including 1 July 2001 and later years of income.
135 Application
The amendment of section 121F of the Income Tax Assessment Act 1936 made by this Part applies in relation to the year of income including 1 July 2001 and later years of income.
137 Application
The amendment of section 128B of the Income Tax Assessment Act 1936 made by this Part applies in relation to income derived on or after 1 July 2001.
140 Application
The amendment of paragraph 272‑90(7)(b) in Schedule 2F to the Income Tax Assessment Act 1936 made by this Part applies in relation to the year of income including 1 July 2001 and later years of income.
162 Application
The amendment of section 121F of the Income Tax Assessment Act 1936 applies in relation to amounts derived on or after 1 July 2000.
Superannuation Legislation Amendment (Choice of Superannuation Funds) Act 2004 (No. 102, 2004)
Schedule 2
10 Application
(1) The amendments made by items 1 to 3 of this Schedule apply to eligible termination payments made after the commencement of those items.
Tax Laws Amendment (2004 Measures No. 3) Act 2004 (No. 105, 2004)
Schedule 1
19 Application
The amendments made by this Schedule apply, and are taken to have applied, to CGT events relating to investments made on or after 1 July 2002.
Financial Framework Legislation Amendment Act 2005 (No. 8, 2005)
4 Saving of matters in Part 2 of Schedule 1
(1) If:
(a) a decision or action is taken or another thing is made, given or done; and
(b) the thing is taken, made, given or done under a provision of a Part 2 Act that had effect immediately before the commencement of this Act;
then the thing has the corresponding effect, for the purposes of the Part 2 Act as amended by this Act, as if it had been taken, made, given or done under the Part 2 Act as so amended.
(2) In this section:
Part 2 Act means an Act that is amended by an item in Part 2 of Schedule 1.
Schedule 1
496 Saving provision—Finance Minister’s determinations
If a determination under subsection 20(1) of the Financial Management and Accountability Act 1997 is in force immediately before the commencement of this item, the determination continues in force as if it were made under subsection 20(1) of that Act as amended by this Act.
New International Tax Arrangements (Managed Funds and Other Measures) Act 2005 (No. 21, 2005)
Schedule 3
47 Application
(1) The amendments made by Part 1 of this Schedule apply to interest paid on debentures or debt interests issued on or after the day on which this Act receives the Royal Assent (the Assent day).
(2) The amendment made by Part 2 of this Schedule applies to payments made on instruments referred to in paragraph (e) of the definition of interest in subsection 128A(1AB) of the Income Tax Assessment Act 1936 issued on or after the Assent day.
Tax Laws Amendment (2004 Measures No. 6) Act 2005 (No. 23, 2005)
Schedule 3
111 Application of amendments
(3) The amendments made by Part 2 of this Schedule, other than items 26 and 110, apply in relation to events that occur on or after 1 July 2002.
(4) Subject to subitem (5), the amendment made by item 26 of this Schedule applies to dividends paid on or after 1 July 2003.
(5) For a taxpayer to which section 46AC of the Income Tax Assessment Act 1936 applies, the amendment made by item 26 of this Schedule applies to dividends paid on or after the consolidation day referred to in that section.
112 Modified application of section 109ZC in 2002‑03
Section 109ZC of the Income Tax Assessment Act 1936, as it applies in relation to assessments for the 2002‑03 income year, has effect as if subsection 109ZC(3) were replaced by the following subsection:
(3) Subsection (2) does not cause the amount taken not to be a dividend to be exempt income for the purposes of Part 3‑6 of the Income Tax Assessment Act 1997.
113 Modified application of section 128TB in 2002‑03 and 2003‑04
Section 128TB of the Income Tax Assessment Act 1936, as it applies in relation to dividends paid in the period starting on 1 July 2002 and ending on 30 June 2004, has effect as if the definition of Co. tax rate in subsection 128TB(2) were amended by omitting “general company tax rate, within the meaning of section 160APA,” and substituting “corporate tax rate”.
114 Modified application of section 377 in 2002‑03 and 2003‑04
Section 377 of the Income Tax Assessment Act 1936, as it applies in relation to dividends paid in the period starting on 1 July 2002 and ending on 30 June 2004, has effect as if paragraph 377(1)(e) were replaced by the following paragraph:
(e) so much of a frankable distribution, paid to the company in the qualifying period, as is either the franked part of the distribution, or the part of the distribution that has been franked with an exempting credit;
Tax Laws Amendment (2004 Measures No. 7) Act 2005 (No. 41, 2005)
Schedule 3
22 Application
(1) The amendments made by this Schedule apply, and are taken to have applied, to acquisitions of shares or rights on or after 1 July 2004.
(2) In this item:
acquisition, of a share or right, has the same meaning as in Division 13A of Part III of the Income Tax Assessment Act 1936.
Schedule 6
1 Application
The amendments made by this Schedule apply on and after 1 July 2002.
Schedule 8
5 Application
The amendments made by this Schedule apply to elections specifying the income year in which this Act receives the Royal Assent or a later income year.
Schedule 9
2 Application of item 1
The amendment made by item 1 of this Schedule applies to loans made on or after 12 December 2002.
13 Application
The amendments made by items 3 to 12 of this Schedule apply in relation to loans made in the 2004‑2005 year of income or a later year of income.
Schedule 10
30 Application
The amendment made by item 29 applies to assessments for the 2000‑2001 year of income and later years of income.
Schedule 11
5 Application
The amendments made by this Schedule apply to any expenditure incurred in respect of a film (whether before or after this Schedule commences).
Social Security Legislation Amendment (One‑off Payments for Carers) Act 2005 (No. 55, 2005)
Schedule 2
1 Administrative scheme for 2005 one‑off payments to carers
(1) Subject to this item, the Minister may, by legislative instrument, determine a scheme under which one‑off payments may be made to carers in particular circumstances. The Minister may, by legislative instrument, vary or revoke the scheme.
(2) The circumstances in which the scheme provides for payments must be circumstances:
(a) in which the Minister considers that Divisions 2 and 3 of Part 2.5A and Division 2 of Part 2.19A of the Social Security Act 1991 do not produce appropriate results; and
(b) occurring in the financial year starting on 1 July 2004.
(3) Without limiting the generality of subitem (1), the scheme may deal with the following:
(a) the circumstances in which payments are to be made;
(b) the amount of the payments;
(c) what a person has to do to get a payment;
(d) administrative matters, such as determination of entitlement and how and when payments will be made.
(4) Payments under the scheme are to be made out of the Consolidated Revenue Fund, which is appropriated accordingly.
Tax Laws Amendment (2005 Measures No. 3) Act 2005 (No. 63, 2005)
Schedule 1
23 Application
The amendments made by this Schedule apply to the income year after the income year in which this Act receives the Royal Assent and each later income year.
Schedule 2
3 Application
The amendments made by this Schedule apply to income years starting on or after 1 July 2004.
Schedule 5
4 Application
The amendments made by this Schedule apply to assessments for the 2005‑2006 income year and later income years.
New International Tax Arrangements (Foreign‑owned Branches and Other Measures) Act 2005 (No. 64, 2005)
Schedule 2
11 Application
(1) The amendment made by item 5 applies:
(a) for the purposes of section 408A—to statutory accounting periods that begin on or after the day on which this Act receives the Royal Assent; and
(b) in any other case—to CGT events that occur on or after the first 1 July that occurs after the day on which this Act receives the Royal Assent.
(2) The amendments made by items 6, 7, 8 and 10 apply to things happening on or after 1 July 2004.
Schedule 3
4 Application
The amendments of the Income Tax Assessment Act 1936 made by this Part apply to years of income starting on or after the commencement of this Part.
Schedule 4
38 Application—amendments of the Income Tax Assessment Act 1936
(1) The amendments made by items 2 to 24 of this Schedule apply in relation to shares or rights that a person acquires, or has acquired, under an employee share scheme only in accordance with subitem (2) or (3).
(2) The amendments apply, on and from the time of the acquisition, if the person acquired the shares or rights on or after the day on which this Act received the Royal Assent.
(3) If:
(a) immediately before that day, the person was not an employee in respect of employment that affects the acquisition or holding of the share or right; and
(b) the person becomes an employee in respect of that employment on or after that day; and
(c) at the time of becoming an employee in respect of that employment, the person holds shares or rights that the person acquired under an employee share scheme; and
(d) this subitem has not previously applied in relation to the person;
the amendments apply, on and from the time when the person becomes an employee in respect of that employment, to any shares or rights the person holds that the person acquired under an employee share scheme (whether or not the shares or rights were acquired before, on or after that day).
(4) Subitem (3) does not limit the operation of subitem (2).
(5) Expressions used in this item have the same meaning as they have for the purposes of Division 13A of Part III of the Income Tax Assessment Act 1936. However, paragraph 139GA(1)(b) of that Act does not apply in relation to subitem (3).
39 Application—amendments of section 530A of the Income Tax Assessment Act 1936
The amendments made by items 25 to 27 of this Schedule apply to assessments for the first year of income ending on or after the day on which this Act receives the Royal Assent and later years of income.
Tax Laws Amendment (Improvements to Self Assessment) Act (No. 1) 2005
(No. 75, 2005)
Schedule 1
31 Application
The amendments made by this Schedule apply to amendments of assessments for the 2004‑05 income year and later income years.
Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Act 2005 (No. 147, 2005)
Schedule 1
169 Application of items relating to companies in liquidation
(1) The amendments made by items 1, 2 and 3 of this Schedule apply to assessments, made on or after 1 July 1997, for any year of income.
Schedule 2
27 Income years starting on 1 July 2005 or after that day and before Royal Assent
(1) This item applies to an entity for whom an income year (the first year) starts:
(a) on 1 July 2005; or
(b) after that day and before the day on which this Act receives the Royal Assent.
(2) The entity can only declare an amount to be conduit foreign income under Subdivision 802‑A of the Income Tax Assessment Act 1997 on or after the day on which this Act receives the Royal Assent.
(3) An FDA surplus that exists for the entity under Subdivision B of Division 11A of Part III of the Income Tax Assessment Act 1936 at the end of the day before the day on which this Act receives the Royal Assent has effect as if it were the entity’s conduit foreign income under Subdivision 802‑A of the Income Tax Assessment Act 1997.
(4) Any FDA credit under section 128TA of the Income Tax Assessment Act 1936 that arises during the period starting on 1 July 2005 and ending on the day before the day on which this Act receives the Royal Assent cannot also be conduit foreign income.
28 Later starting income years
(1) This item applies to an entity for whom an income year (also the first year) starts on or after the day on which this Act receives the Royal Assent and before 1 July 2006.
(2) The amendments made by items 7, 8, 9, 13 and 16, and 19 to 24, of this Schedule apply from the start of the first year.
(3) An FDA surplus that exists for the entity under Subdivision B of Division 11A of Part III of the Income Tax Assessment Act 1936 at the start of the first year has effect as if it were the entity’s conduit foreign income under Subdivision 802‑A of the Income Tax Assessment Act 1997.
Schedule 4
12 Application
The amendments made by this Schedule apply to copyright in a film acquired on or after 1 July 2004.
Schedule 5
20 Application
(1) The amendments made by this Schedule apply, and are taken to have applied, to acquisitions of shares or rights on or after 1 July 2004.
(2) In this item:
acquisition, of a share or right:
(a) in relation to the application of items 1 to 3, 15, 17 and 18 of this Schedule, has the same meaning as in section 26AAC of the Income Tax Assessment Act 1936; or
(b) in relation to the application of items 4 to 14, 16 and 19 of this Schedule, has the same meaning as in Division 13A of Part III of the Income Tax Assessment Act 1936.
Schedule 7
19 Previous interpretation preserved
The amendments made by this Schedule are not to be taken to affect by implication the interpretation of a provision amended by this Schedule at a time before the commencement of this Schedule.
20 Application
The amendments made by this Schedule apply to payments made on or after the first day of the first quarter after the quarter in which this Act receives the Royal Assent.
Tax Laws Amendment (2005 Measures No. 4) Act 2005 (No. 148, 2005)
Schedule 3
3 Application
The amendments made by this Schedule apply to communications of information after the day on which this item commences (regardless of whether the information was acquired before or after that commencement).
Tax Laws Amendment (Improvements to Self Assessment) Act (No. 2) 2005
(No. 161, 2005)
Schedule 1
15 Application
The amendments made by this Part apply in relation to assessments for the 2004‑05 year of income and later years of income.
19 Application
The amendments made by this Part apply in relation to the 2004‑05 year of income and later years of income.
25 Application
The amendments made by items 23 and 24 apply in relation to the 2004‑05 year of income and later years of income.
68 Application
The amendments made by items 64 to 67 apply in relation to assessments for the 2004‑05 year of income and later years of income.
73 Application
The amendments made by items 69 to 72 apply in relation to assessments for the 2004‑05 year of income and later years of income.
Schedule 2
32 Application
The amendments made by this Schedule apply to things done on or after the later of:
(a) the day on which this Act receives the Royal Assent; and
(b) 1 January 2006.
Tax Laws Amendment (2005 Measures No. 5) Act 2005 (No. 162, 2005)
Schedule 1
5 Application
(1) The amendment made by item 1 is taken to have applied in relation to deaths that occurred on or after 1 July 2004.
(2) The amendment made by item 2 is taken to have applied to assessments for the 2002‑03 year of income and each subsequent year of income.
(3) The amendments made by items 3 and 4 apply in relation to foreign service performed on or after the day on which this Act received the Royal Assent.
(4) If, immediately before the day on which this Act received the Royal Assent (the commencement day):
(a) a person had an absentee credit balance within the meaning of subsection 23AG(6A) of the Income Tax Assessment Act 1936; or
(b) would have had such a balance if that subsection allowed for an absentee credit balance to be a part of a day;
on the commencement day the person’s total period of foreign service, under subsections 23AG(6A) and (6B) of that Act as amended by this Act, is increased by a number of days equivalent to:
(c) if, immediately before the commencement day, the person was engaged in foreign service—the number of days, before that day, in that continuous period of foreign service; or
(d) if paragraph (c) does not apply—the number of days in the last continuous period of foreign service in which the person was engaged before that day.
Schedule 3
33 Application
The amendments made by this Schedule apply on and after 1 July 2002.
Tax Laws Amendment (2005 Measures No. 6) Act 2006 (No. 13, 2006)
Schedule 4
9 Application
The amendments made by this Schedule apply to assessments for the 2005‑06 year of income and later years of income.
Offshore Petroleum (Repeals and Consequential Amendments) Act 2006
(No. 17, 2006)
Schedule 2
40 Application—section 6AA of the Income Tax Assessment Act 1936
The amendments of section 6AA of the Income Tax Assessment Act 1936 made by this Schedule apply in relation to events that occur, and circumstances that arise, after the commencement of this item.
Tax Laws Amendment (2006 Measures No. 1) Act 2006 (No. 32, 2006)
Schedule 1
40 Application
(8) The amendments made by items 13, 14 and 15 of this Schedule apply for an income year that begins on or after the start‑up day.
(9) In this item:
start‑up day means the 1 July next following the day on which this Act receives the Royal Assent.
Tax Laws Amendment (Personal Tax Reduction and Improved Depreciation Arrangements) Act 2006 (No. 55, 2006)
Schedule 3
4 Application
The amendments made by this Schedule apply in relation to assessments for the 2006‑07 year of income and later years of income.
Tax Laws Amendment (2006 Measures No. 2) Act 2006 (No. 58, 2006)
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of this section; and
(b) the amendment is made within 4 years after that commencement; and
(c) the amendment is made for the purpose of giving effect to Schedule 4.
Schedule 7
38 Application
The amendment made by item 37 applies to assessments for the 2001‑02 income year and later income years.
Electoral and Referendum Amendment (Electoral Integrity and Other Measures) Act 2006 (No. 65, 2006)
Schedule 4
12 Application
The amendments made by this Schedule apply to contributions or gifts made on or after the day on which this Act receives the Royal Assent.
Tax Laws Amendment (2006 Measures No. 3) Act 2006 (No. 80, 2006)
Schedule 1
4 Application
The amendments made by this Schedule apply to the 2005‑06, 2006‑07 and 2007‑08 income years.
Schedule 2
1 Certain Commonwealth payments relating to Cyclones Larry and Monica are non‑assessable, non‑exempt income
(1) Each of the following payments that you receive from the Commonwealth in your 2005‑06 or 2006‑07 income year is not assessable income and is not exempt income:
(a) a payment associated with what is known as the Cyclone Larry Business Assistance Fund and made because your business was adversely affected by Cyclone Larry;
(b) a payment known as fuel excise relief and connected with your use of fuel to generate electricity for your business while supply of electricity through the grid to your business was disrupted as a result of Cyclone Larry;
(c) a payment associated with what is known as the Cyclone Larry Business Assistance Fund, or with what is known as the Cyclones Monica and Larry Business Assistance Fund, and made because your business was adversely affected by flooding due to the combined impacts of Cyclones Monica and Larry.
Note: This item does not deal with payments of income support to farmers and small business owners affected by Cyclone Larry or Cyclone Monica that are rebatable benefits under section 160AAA of the Income Tax Assessment Act 1936.
(2) A term used in this item and in the Income Tax Assessment Act 1997 has the same meaning in this item as it has in that Act.
Schedule 3
5 Application
The amendments made by this Schedule apply to payments received in the 2005‑06 income year and later income years.
Schedule 4
14 Application of amendments
The amendments made by Division 1 apply in relation to transfers made into a company’s share capital account after the day on which the Bill for this Act was introduced into the Parliament.
19 Application of amendments
The amendments made by Division 1 apply in relation to transfers of amounts made during the period starting on 1 July 1998 and ending immediately before 1 July 2002.
30 Application of amendments
The amendments made by Divisions 1 and 2 apply for the purpose of determining whether an account is a share capital account when applying a provision of the Income Tax Assessment Act 1997 or the Income Tax Assessment Act 1936 in relation to a time that is after the commencement of the amendments, even if the account was in existence before that commencement.
Schedule 9
5 Application
The amendments made by this Schedule apply to the use, on or after 9 May 2006, of pre‑1 July 88 funding credits under section 275B of the Income Tax Assessment Act 1936, including use on or after that day as a result of:
(a) an objection or a request for amendment lodged on or after 9 May 2006; or
(b) an objection or a request for amendment lodged before 9 May 2006 and pending on that day.
Schedule 13
2 Assessments
An amendment of an assessment made on or after 19 December 2005 and before the day on which this Act receives the Royal Assent under section 170 of the Income Tax Assessment Act 1936 relying on subsection 177G(1) of that Act (as in force immediately before 19 December 2005) is as valid as it would have been if that subsection were in force on the day the amendment was made.
Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006
(No. 101, 2006)
Schedule 6
1 Application of Schedule 1 and 2 amendments
Except as mentioned in items 2 and 3, the repeals and amendments made by Schedules 1 and 2 apply:
(a) so far as they affect assessments—to assessments for the 2006‑07 income year and all later income years; and
(b) otherwise—to acts done or omitted to be done, or states of affairs existing, after the commencement of the repeals and amendments.
2 Application of Schedule 2 withholding tax amendments
The amendments made by items 337, 343 and 344 of Schedule 2 apply to income derived in the 2006‑07 income year and later income years.
3 Application of TFN withholding tax amendments
(1) The amendment made by item 949 of Schedule 2 applies to payments made on or after the day on which this Act receives the Royal Assent.
(2) The repeal of Subdivision C of Division 3B of Part VI of the Income Tax Assessment Act 1936 by item 163 of Schedule 1 to this Act, and the insertion of section 14‑55 in Schedule 1 to the Taxation Administration Act 1953 by item 955 of Schedule 2 to this Act, apply to the 2006‑07 income year and later income years.
(3) The insertion of sections 14‑50, 14‑60, 14‑65, 14‑75 and 14‑85 in Schedule 1 to the Taxation Administration Act 1953 by item 955 of Schedule 2 to this Act applies to tax payable in accordance with former section 221YHZR of the Income Tax Assessment Act 1936 as if:
(a) the tax were TFN withholding tax (payable under section 14‑55 in that Schedule); and
(b) section 14‑55 in that Schedule applied to the income year in respect of which the tax is payable.
4 Application of Schedule 3 and 4 amendments
The repeals and amendments made by Schedules 3 and 4 apply:
(a) so far as they affect assessments—to assessments for the 2007‑08 income year and all later income years; and
(b) otherwise—to acts done or omitted to be done, or states of affairs existing, after the commencement of the amendments.
6 Object
The object of this Part is to ensure that, despite the repeals and amendments made by this Act, the full legal and administrative consequences of:
(a) any act done or omitted to be done; or
(b) any state of affairs existing; or
(c) any period ending;
before such a repeal or amendment applies, can continue to arise and be carried out, directly or indirectly through an indefinite number of steps, even if some or all of those steps are taken after the repeal or amendment applies.
7 Making and amending assessments, and doing other things, in relation to past matters
Even though an Act is repealed or amended by this Act, the repeal or amendment is disregarded for the purpose of doing any of the following under any Act or legislative instrument (within the meaning of the Legislative Instruments Act 2003):
(a) making or amending an assessment (including under a provision that is itself repealed or amended);
(b) exercising any right or power, performing any obligation or duty or doing any other thing (including under a provision that is itself repealed or amended);
in relation to any act done or omitted to be done, any state of affairs existing, or any period ending, before the repeal or amendment applies.
Example 1: On 31 July 1999, Greg Ltd lodged its annual return under former section 160ARE of the Income Tax Assessment Act 1936. The return stated that the company had a credit on its franking account and that no franking deficit tax was payable for the 1998‑99 franking year. Under former section 160ARH of that Act, the Commissioner was taken to have made an assessment consistent with the return.
Following an audit undertaken after the repeal of Part IIIAA of that Act, the Commissioner concludes that Greg Ltd fraudulently overfranked dividends it paid during the 1998‑99 franking year, and had a franking account deficit for that franking year. As a result, the Commissioner considers that franking deficit tax and a penalty by way of additional tax are payable.
The Commissioner can amend the assessment under former section 160ARN of that Act, because item 7 of this Schedule disregards the repeal of that section for the purposes of making an assessment in relation to the 1998‑99 franking year. Item 7 will also disregard the repeal of Division 11 of former Part IIIAA to the extent necessary for the Commissioner to assess Greg Ltd’s liability to a penalty by way of additional tax.
Despite the repeal of sections 160ARU and 160ARV, item 9 will ensure that the general interest charge will accrue on the unpaid franking deficit tax and penalty until they are paid.
Item 7 will also preserve Greg Ltd’s right, under former section 160ART of that Act, to object against the Commissioner’s amended assessment (including the penalty), since the objection is the exercise of a right in relation to a franking year that ended before the repeal of Part IIIAA.
Example 2: During the 1997‑98 income year, Duffy Property Ltd withheld amounts from its employees’ wages as required by former Divisions 1AAA and 2 of Part VI of the Income Tax Assessment Act 1936. The company failed to notify the Commissioner of those amounts, and failed to remit them to the Commissioner.
Following an audit undertaken after the repeal of those Divisions, the Commissioner discovers that the withheld amounts have not been remitted. The company’s records are incomplete and the Commissioner is unable to completely ascertain the extent of its liability for the withheld amounts. Under section 222AGA of that Act, the Commissioner makes an estimate of the liability.
Item 7 will disregard the repeal of section 220AAZA of that Act (which empowered the Commissioner to recover the amount of the estimate). Even though the estimate is made after the repeal, it relates to amounts withheld before the repeal.
8 Saving of provisions about effect of assessments
If a provision or part of a provision that is repealed or amended by this Act deals with the effect of an assessment, the repeal or amendment is disregarded in relation to assessments made, before or after the repeal or amendment applies, in relation to any act done or omitted to be done, any state of affairs existing, or any period ending, before the repeal or amendment applies.
9 Saving of provisions about general interest charge, failure to notify penalty or late reconciliation statement penalty
If:
(a) a provision or part of a provision that is repealed or amended by this Act provides for the payment of:
(i) general interest charge, failure to notify penalty or late reconciliation statement penalty (all within the meaning of the Income Tax Assessment Act 1936); or
(ii) interest under the Taxation (Interest on Overpayments and Early Payments) Act 1983; and
(b) in a particular case, the period in respect of which the charge, penalty or interest is payable (whether under the provision or under the Taxation Administration Act 1953) has not begun, or has begun but not ended, when the provision is repealed or amended;
then, despite the repeal or amendment, the provision or part continues to apply in the particular case until the end of the period.
10 Repeals disregarded for the purposes of dependent provisions
If the operation of a provision (the subject provision) of any Act or legislative instrument (within the meaning of the Legislative Instruments Act 2003) made under any Act depends to any extent on an Act, or a provision of an Act, that is repealed by this Act, the repeal is disregarded so far as it affects the operation of the subject provision.
11 Schedule does not limit operation of section 8 of the Acts Interpretation Act 1901
This Schedule does not limit the operation of section 8 of the Acts Interpretation Act 1901.
12 Continued operation of repealed section 215 of the Income Tax Assessment Act 1936
If, just before the repeal of section 215 of the Income Tax Assessment Act 1936 by Schedule 1 to this Act, that section applied to:
(a) a liquidator of a company that was being wound up; or
(b) a receiver for debenture holders who had taken possession of assets of a company; or
(c) an agent for a non‑resident who had been required by the agent’s principal to wind up the business or realise the assets of the principal;
the section continues so to apply in spite of the repeal.
13 Continued operation of repealed sections 216 and 220 of the Income Tax Assessment Act 1936
If, just before the repeal of section 216 or 220 of the Income Tax Assessment Act 1936 by Schedule 1 to this Act, that section applied to a deceased taxpayer, the section continues so to apply in spite of the repeal.
14 Resolutions to which section 221B of the Income Tax Assessment Act 1936 applies
If a resolution to which section 221B of the Income Tax Assessment Act 1936 applied was in force just before the repeal of that section by Schedule 1 to this Act, section 446‑5 in Schedule 1 to the Taxation Administration Act 1953 (as inserted by item 970 of Schedule 2 to this Act) applies to the resolution after the repeal.
15 Extended operation of subsection 265‑45(2) in Schedule 1 to the Taxation Administration Act 1953
In addition to the operation that it has apart from this item, subsection 265‑45(2) in Schedule 1 to the Taxation Administration Act 1953 also applies to an amount of a liability (within the meaning of that subsection) that a person pays after the repeal of section 259 of the Income Tax Assessment Act 1936 by item 166 of Schedule 1 to this Act, if the liability arose before 1 July 2000.
Tax Laws Amendment (2006 Measures No. 4) Act 2006 (No. 168, 2006)
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of this section; and
(b) the amendment is made within 4 years after that commencement; and
(c) the amendment is made for the purpose of giving effect to Schedule 2.
Schedule 3
5 Application of amendments made by items 3 and 4
The amendments made by items 3 and 4 apply to dividends paid on or after 1 April 2003.
Schedule 4
112 Application of this Schedule
The amendments made by this Schedule apply to CGT events that happen on or after the commencement of this item.
Tax Laws Amendment (2006 Measures No. 6) Act 2007 (No. 4, 2007)
Schedule 2
2 Transitional
An approval of a form made by the Commissioner before the commencement of this item under the definition of approved form in section 102AAB of the Income Tax Assessment Act 1936 has effect on and after that commencement as if it had been made under section 388‑50 in Schedule 1 to the Taxation Administration Act 1953.
Tax Laws Amendment (Simplified Superannuation) Act 2007 (No. 9, 2007)
Schedule 1
24 Application
(1) The amendments made by this Part of this Schedule apply to the 2007‑2008 income year and later years.
37 Application
The amendments made by this Part of this Schedule apply to the 2007‑2008 income year and later years.
Superannuation Legislation Amendment (Simplification) Act 2007
(No. 15, 2007)
Schedule 1
406 Application
(1) The amendments made by this Schedule apply to the 2007‑2008 income year and later years.
(2) Despite subitem (1), those amendments apply to the 2007‑2008 financial year and later years, to the extent that they relate to Division 292 of the Income Tax Assessment Act 1997.
(3) Despite subitem (1), those amendments apply on and after 1 July 2007, to the extent that they relate to any of the following:
(a) Divisions 82 and 83 of the Income Tax Assessment Act 1997;
(b) Divisions 301 to 307 of that Act.
Tax Laws Amendment (2006 Measures No. 7) Act 2007 (No. 55, 2007)
Schedule 6
4 Application
The amendments made by this Schedule apply to assessments for the year of income in which this Act receives the Royal Assent and later years of income.
Tax Laws Amendment (2007 Measures No. 1) Act 2007 (No. 56, 2007)
Schedule 3
39 Application
(1) The amendments made by this Schedule apply to acquisitions of stapled securities, and of rights to acquire stapled securities, on or after 1 July 2006.
(2) In this item:
acquisition has the same meaning as in Division 13A of Part III of the Income Tax Assessment Act 1936.
Tax Laws Amendment (2007 Budget Measures) Act 2007 (No. 75, 2007)
Schedule 1
13 Application of amendments
The amendments made by this Part apply to assessments for the 2007‑2008 year of income and later years of income.
Tax Laws Amendment (Personal Income Tax Reduction) Act 2007
(No. 76, 2007)
Schedule 1
11 Application
The amendments made by this Part apply to assessments for the 2007‑08 year of income and later years of income.
Tax Laws Amendment (2007 Measures No. 2) Act 2007 (No. 78, 2007)
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of this section; and
(b) the amendment is made within 4 years after that commencement; and
(c) the amendment is made for the purpose of giving effect to Schedule 1.
Schedule 3
4 Application
The amendment made by item 3 applies to years of income commencing on or after 1 July 2001.
6 Application
The amendment made by item 5 applies to expenditure incurred in years of income commencing on or after the day on which this Act receives the Royal Assent.
9 Application
The amendment made by item 7 applies to the first year of income commencing after 9 May 2006 and later years.
11 Application
The amendment made by item 10 applies to payments received on or after 6 May 2004.
14 Application
The amendments made by items 12 and 13 apply to assessments for the year of income following the year of income in which this Act receives the Royal Assent and later years.
16 Application
The amendment made by item 15 applies to payments received on or after 6 May 2004.
18 Application
The amendment made by item 17 applies to years of income commencing on or after 1 July 2001.
20 Application
The amendment made by item 19 applies to assessments for the year of income following the year of income in which this Act receives the Royal Assent and later years.
Schedule 7
15 Transitional
Subsection 73J(2) of the Income Tax Assessment Act 1936 has effect for an eligible company, as if the amendment made by item 14 of this Schedule had not been made, during the period:
(a) starting at the start of the year of income of the company in which 1 July 2005 occurred; and
(b) ending at the end of the company’s year of income in which the day on which this Act receives the Royal Assent occurs.
Tax Laws Amendment (2007 Measures No. 3) Act 2007 (No. 79, 2007)
Schedule 1
43 Application
(1) The amendments made by this Schedule apply to assessments for the income year in which 1 July 2006 occurred and later income years.
(4) Despite subitem (1), the following rules apply:
(a) the amendments made by this Schedule, to they extent that they relate to section 109RB of the Income Tax Assessment Act 1936, apply in relation to the 2001‑02 income year and later income years;
(b) the Commissioner may make decisions under that section on and after the commencement of that section in relation to events that occurred before that commencement;
(c) however, the Commissioner cannot make a decision under paragraph 109RB(2)(b) of that Act if the dividend mentioned in subparagraph 109RB(1)(a)(i) of that Act is taken to have been paid before 1 July 2002;
(d) the Commissioner may amend a franking assessment made before the commencement of this item for the purpose of giving effect to a decision under section 109RB of that Act, if the amendment is made within 4 years after that commencement.
(5) Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of this item; and
(b) the amendment is made within 4 years after that commencement; and
(c) the amendment is made for the purpose of giving effect to a decision of the Commissioner under section 109RB of that Act.
Schedule 6
8 Application
The amendments made by this Schedule apply in relation to distributions made on or after 1 July 2004.
Schedule 7
16 Application
(1) The amendments made by this Schedule apply to interest paid in respect of debt interests issued on or after 7 December 2006 (the start day).
(2) For the purposes of subitem (1), a debt interest is treated as being issued before the start day if it is issued under or results from a written agreement entered into on or after 21 March 2005 and before the start day.
(3) However, subitem (2) does not apply to the extent that the agreement referred to in that subitem is altered after the start day to extend its term.
Schedule 8
26 Application
(1) The amendments made by this Schedule apply to amounts paid by a participant under a forestry managed investment scheme on or after 1 July 2007.
(2) Despite subitem (1), the amendments do not apply if any other amounts were paid by the participant or any other participant under the scheme before 1 July 2007.
(4) Despite subitem (1), sections 82KZMGA and 82KZMGB of the Income Tax Assessment Act 1936 apply to CGT events that happen on or after 1 July 2007.
Schedule 9
30 Application
(1) Subject to items 31, 32 and 33 of this Schedule, the amendments made by this Schedule, other than items 13 and 23, apply in relation to income years starting on or after 1 July 2006.
(2) The amendments made by items 13 and 23 of this Schedule apply in relation to income years starting on or after 1 July 2005.
31 Transitional provision—trusts that ceased to exist before introduction
Subsection 98(4) of the Income Tax Assessment Act 1936, as inserted by item 1 of this Schedule, does not apply in relation to a trustee of a trust that ceased to exist before the Bill for this Act was introduced into the House of Representatives.
32 Transitional provision—managed investment trusts
(1) This item applies in relation to the following income years:
(a) the first income year starting on or after 1 July 2006;
(b) the income year immediately prior to the first income year starting on or after the first 1 July after the day on which this Act receives the Royal Assent;
(c) each intervening income year (if any).
(2) In this item, expressions mean the same as in the Income Tax Assessment Act 1997.
(3) Subsection 98(4) of the Income Tax Assessment Act 1936, as inserted by item 1 of this Schedule, does not apply in relation to a trustee of a trust in relation to an income year to which this item applies if the conditions in subitems (4) to (6) are satisfied for the trust for the income year.
(4) The trust must be a resident trust estate for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936 for the income year.
(5) At each of the times in the income year mentioned in subitem (9), the trust must be a managed investment scheme (as defined by section 9 of the Corporations Act 2001) and be operated by a financial services licensee (as defined by section 761A of that Act) whose licence covers operating such a managed investment scheme.
(6) At each of the times in the income year mentioned in subitem (9), one of the following must be satisfied:
(a) units in the trust must be listed for quotation in the official list of an approved stock exchange in Australia;
(b) the trust must have at least 50 members (ignoring objects of a trust);
(c) one of the entities covered by subitem (7) must be a member of the trust.
(7) These are the entities:
(a) a life insurance company;
(b) a complying superannuation fund, a complying approved deposit fund or a foreign superannuation fund, being a fund that has at least 50 members;
(c) a trust that satisfies the conditions in subitems (4) and (5) and also satisfies the condition in paragraph (a) or (b) of subitem (6);
(d) an entity that is recognised, under a foreign law relating to corporate regulation, as an entity with a similar status to a managed investment scheme and that has at least 50 members;
(e) a trust:
(i) interests in which are owned directly by an entity covered by an earlier paragraph; or
(ii) interests in which are held indirectly by an entity covered by an earlier paragraph through a *chain of trusts;
where the conditions in subitems (4) and (5) are satisfied for the trust, or for each trust in the chain.
(8) The condition in subitem (6) is not satisfied for a trust at a time if, at that time, one foreign resident individual, directly or indirectly:
(a) held, or had the right to acquire, interests representing 10% or more of the value of the interests in the trust; or
(b) had the control of, or the ability to control, 10% or more of the rights attaching to membership interests in the trust; or
(c) had the right to receive 10% or more of any distribution of income that the trustee may make.
(9) The times in an income year are:
(a) for a trust that was in existence throughout the income year—the first day and the last day of the income year; and
(b) for a trust that comes into existence in the income year—the time that is 1 month after the time the trust comes into existence, and the last day of the income year; and
(c) for a trust that ceases to exist in the income year—the first day of the income year and the time that is 1 month before the time the trust ceases to exist.
33 Transitional provision—intermediaries
(1) This item applies in relation to the following income years:
(a) the first income year starting on or after 1 July 2006;
(b) the income year immediately prior to the first income year starting on or after the first 1 July after the day on which this Act receives the Royal Assent;
(c) each intervening income year (if any).
(2) In this item, expressions mean the same as in the Income Tax Assessment Act 1997.
(3) Subsection 98(4) of the Income Tax Assessment Act 1936, as inserted by item 1 of this Schedule, does not apply to a trustee of a trust in relation to so much of the net income of the trust of an income year to which this item applies as:
(a) represents income applied by the trustee in making a payment covered by subitem (4); and
(b) is attributable to a payment made by a trustee of another trust, if the conditions in subitems 32(4) to (6) of this Schedule are satisfied for the other trust for the income year in which the payment made by the trustee of the other trust is made.
(4) A payment made by a trustee of a trust is covered by this subitem if:
(a) the payment is made to an entity that is a foreign resident at the time of the payment; and
(b) at the time of the payment, the trust is carrying on a business that consists predominantly of providing a custodial or depository service (as defined by section 766E of the Corporations Act 2001) pursuant to an Australian financial services licence (as defined by section 761A of that Act); and
(c) the payment is made in the course of the business; and
(d) either:
(i) the trust is a resident trust estate for the purposes of Division 6 of Part III of the Income Tax Assessment Act 1936 for the income year in which the payment is made; or
(b) the business is carried on in Australia through an Australian permanent establishment.
Schedule 10
32 Application
The amendments made by this Schedule apply to the first income year starting on or after the first 1 July after the day on which this Act receives the Royal Assent and later income years.
Tax Laws Amendment (Small Business Act) Act 2007 (No. 80, 2007)
Schedule 8
9 Application
The amendments made by this Schedule apply in relation to the 2007‑08 income year and later income years.
Families, Community Services and Indigenous Affairs Legislation Amendment (Child Support Reform Consolidation and Other Measures) Act 2007 (No. 82, 2007)
Schedule 9
5 Application
The amendments made by this Schedule apply to the 2008‑2009 year of income and later years.
Tax Laws Amendment (2007 Measures No. 4) Act 2007 (No. 143, 2007)
Schedule 1
222 Application
Subject to items 223 and 224, the amendments made by this Schedule apply in relation to income years, statutory accounting periods and notional accounting periods starting on or after the first 1 July that occurs after the day on which this Act receives the Royal Assent.
223 Application and transitional rules for section 802‑40 of the 1997 Act
(1) The amendments made by items 179 to 181 apply in relation to income years starting one year later than the first income year (the transitional year) covered by item 222.
(2) Section 802‑40 of the Income Tax Assessment Act 1997 has effect in relation to the transitional year as if section 160AF of the Income Tax Assessment Act 1936 had not been repealed.
224 Application rule for credits arising under the International Tax Agreements Act 1953
(1) Despite the repeal of Division 19 of Part III of the Income Tax Assessment Act 1936, that Division continues to apply, after the commencement of this item, in relation to:
(a) a determination made by a person under the Division before the commencement of this item; or
(b) a credit to which the Division applied before the commencement of this item;
as if the repeal had not happened.
(2) The Commissioner may make determinations under that Division as it so continues to apply.
225 Object
The object of this Part is to ensure that, despite the repeals and amendments made by this Act, the full legal and administrative consequences of:
(a) any act done or omitted to be done; or
(b) any state of affairs existing; or
(c) any period ending;
before such a repeal or amendment applies, can continue to arise and be carried out, directly or indirectly through an indefinite number of steps, even if some or all of those steps are taken after the repeal or amendment applies.
226 Making and amending assessments, and doing other things, in relation to past matters
Even though an Act is repealed or amended by this Act, the repeal or amendment is disregarded for the purpose of doing any of the following under any Act or legislative instrument (within the meaning of the Legislative Instruments Act 2003):
(a) making or amending an assessment (including under a provision that is itself repealed or amended);
(b) exercising any right or power, performing any obligation or duty or doing any other thing (including under a provision that is itself repealed or amended);
in relation to any act done or omitted to be done, any state of affairs existing, or any period ending, before the repeal or amendment applies.
Example: For the 2006‑07 income year, Smart Investor Pty Ltd, an Australian resident private investment company, has assessable foreign income in the passive income class on which it has paid foreign tax for which it wishes to claim a foreign tax credit. The company also has a tax loss for the year from its Australian investments. When it lodges its tax return for the year it does not elect to claim a deduction for any of the tax loss under section 79DA of the ITAA 1936, because the Australian tax payable on its passive foreign income equals the foreign tax it has paid.
In 2009 the amount of foreign tax payable in respect of some foreign rental income it had included in its return for the 2006‑07 year is reduced and Smart Investor receives a refund of the difference in foreign tax. Smart Investor Pty Ltd then applies to be able to make an election under section 79DA, that is, after the Tax Laws Amendment (2007 Measures No. 4) Act 2007 (which repeals section 79DA) receives Royal Assent. The Commissioner allows Smart Investor to submit an election to claim a deduction for so much of its 2006‑07 tax loss as to reduce the amount of Australian tax payable on its 2006‑07 assessable foreign income to the revised foreign tax paid, by the end of 2009.
Despite the repeal of section 79DA, item 226 allows the Commissioner to permit an election to be lodged after the return for 2006‑07 has been lodged, and to amend Smart Investor’s assessment for that year, because these actions relate to a thing done, and periods ending, before the repeal of section 79DA applies.
Schedule 4
51 Application
The amendments made by this Schedule apply to the first income year starting on or after the day on which this Act receives the Royal Assent and later income years.
52 Transitional
(1) This item applies in relation to income years starting on or after 1 July 2006 and before the first income year to which the amendments made by this Schedule apply in accordance with item 51.
(2) The trustee of a closely held trust is not liable to pay tax under section 102UK or 102UM of the Income Tax Assessment Act 1936 in respect of a share of the net income of the trust to the extent to which:
(a) the trustee of the closely held trust is assessed and liable to pay tax under subsection 98(4) of that Act in respect of the share; or
(b) the share is reasonably attributable to a part of the net income of another trust estate in respect of which the trustee of the other trust estate is assessed and liable to pay tax under that subsection; or
(c) the share is represented by or reasonably attributable to an amount from which an entity was required to withhold an amount under Subdivision 12‑H in Schedule 1 to the Taxation Administration Act 1953; or
(d) the share is represented by or reasonably attributable to an amount which was liable to tax under section 255 of the Income Tax Assessment Act 1936.
Schedule 7
14 Application
The amendment made by item 13 applies to assessments for the 2006‑07 income year and later income years.
17 Application
The amendment made by item 16 applies to income derived in the 2006‑07 income year and later income years.
Schedule 8
14 Application
The amendments made by this Schedule apply to the income year in which this Act receives the Royal Assent and to later income years.
Financial Sector Legislation Amendment (Simplifying Regulation and Review) Act 2007 (No. 154, 2007)
Schedule 1
296 Regulations may prescribe matters
The Governor‑General may make regulations prescribing matters of a transitional nature (including prescribing any saving or application provisions) in relation to the amendments or repeals made by this Schedule.
Tax Laws Amendment (2007 Measures No. 5) Act 2007 (No. 164, 2007)
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of this section; and
(b) the amendment is made within 4 years after that commencement; and
(c) the amendment is made for the purpose of giving effect to Schedule 2.
Schedule 1
71 Application
(1) Subject to subitems (4), (6) and (8), Division 250 applies in relation to a tax preferred use of an asset if, and only if, the tax preferred use:
(a) starts on or after 1 July 2007; and
(b) does not occur under a legally enforceable arrangement that was entered into before 1 July 2007.
(2) This subitem applies to an asset that is put to a tax preferred use if:
(a) the tax preferred use starts on or after 1 July 2007; and
(b) the tax preferred use occurs under a legally enforceable arrangement that was entered into before 1 July 2007; and
(c) but for this subitem:
(i) section 51AD would apply to the asset in relation to a taxpayer; or
(ii) Division 16D would apply to the asset; and
(d) you elect to have this subitem apply to the asset.
(3) An election under paragraph (2)(d) in relation to an asset that is put to a tax preferred use:
(a) must be made by the day you lodge your income tax return for the income year in which the tax preferred use starts; and
(b) must be made for the whole of the arrangement period for the tax preferred use of the asset; and
(c) must extend to all assets that are, or are to be, put to a tax preferred use under the arrangement under which the asset is put to that use; and
(d) is irrevocable.
(4) If subitem (2) applies:
(a) section 51AD and Division 16D do not apply to the asset; and
(b) Division 250 applies to the tax preferred use of the asset.
(5) This subitem applies to an asset that is put to a tax preferred use if:
(a) the tax preferred use starts on or after 1 July 2007; and
(b) the tax preferred use occurs under a legally enforceable arrangement that was entered into before 1 July 2007; and
(c) immediately before 1 July 2007:
(i) section 51AD did not apply to the asset in relation to a taxpayer; and
(ii) Division 16D did not apply to the asset; and
(d) the arrangement referred to in paragraph (b) is materially altered on or after 1 July 2007; and
(e) but for this subitem and subitem (6):
(i) section 51AD would apply to the asset in relation to a taxpayer immediately after the alteration; or
(ii) Division 16D would apply to the asset immediately after the alteration.
For the purposes of applying paragraph (c), assume that the asset was in existence and was being put to the tax preferred use immediately before 1 July 2007.
(6) If subitem (5) applies:
(a) section 51AD and Division 16D do not apply to the asset; and
(b) Division 250 applies to the tax preferred use of the asset after the alteration instead.
(7) This subitem applies to an asset that is put to a tax preferred use if:
(a) the tax preferred use started before 1 July 2007; and
(b) immediately before 1 July 2007:
(i) section 51AD did not apply to the asset in relation to a taxpayer; and
(ii) Division 16D did not apply to the asset; and
(c) the arrangement under which the tax preferred use of the asset occurs is materially altered on or after 1 July 2007; and
(d) but for this subitem and subitem (8):
(i) section 51AD would apply to the asset in relation to a taxpayer immediately after the alteration; or
(ii) Division 16D would apply to the asset immediately after the alteration.
(8) If subitem (7) applies:
(a) section 51AD and Division 16D do not apply to the asset; and
(b) Division 250 applies to the tax preferred use of the asset after the alteration instead.
(9) For the purposes of applying subparagraphs (5)(c)(ii) and (e)(ii) and (7)(b)(ii) and (d)(ii), disregard the operation of section 159GL of the Income Tax Assessment Act 1936.
(10) For the purposes of applying Division 250 to the tax preferred use of an asset in accordance with subitem (6) or (8), the arrangement period for the tax preferred use of the asset is taken to start on the day on which the alteration referred to in paragraph (5)(d) or (7)(c) occurs.
(11) Section 51AD does not apply to an asset for the income year commencing on 1 July 2007, or a later income year, if:
(a) the asset is put to a tax preferred use under a legally enforceable arrangement; and
(b) the arrangement was entered into before 1 July 2007; and
(c) the tax preferred use of the asset starts on or after 1 July 2003 and before 1 July 2007.
(12) The amendment made by item 69 of this Schedule applies in relation to an income year that begins on or after 1 July 2008.
(13) In this item:
arrangement has the same meaning as in the Income Tax Assessment Act 1997.
asset includes property (within the meaning of section 51AD and Division 16D).
Division 16D means Division 16D of Part III of the Income Tax Assessment Act 1936.
Division 250 means Division 250 of the Income Tax Assessment Act 1997.
section 51AD means section 51AD of the Income Tax Assessment Act 1936.
tax preferred use has the same meaning as in the Income Tax Assessment Act 1997.
Schedule 8
13 Application
(1) The amendments made by items 1 to 5 of this Schedule apply to the 2006‑07 year of income and later years of income.
Schedule 11
78 Application
(1) The amendments made by this Schedule apply in relation to:
(a) assessments for years of income starting after 30 June 2007; and
(b) registrations under section 39J of the Industry Research and Development Act 1986 for those years of income.
(2) A term that is used in this item and has a meaning given by the Income Tax Assessment Act 1936 has the same meaning in this item.
79 Transitional provisions—deductions under former section 73Y of the Income Tax Assessment Act 1936
(1) This item modifies paragraphs 73T(3)(a) and (4)(a) and 73V(3)(a) of the Income Tax Assessment Act 1936 as amended by this Schedule for the Y0 year of income that is the first year of income starting after 30 June 2007.
(2) Those paragraphs have effect for that year of income as if an eligible company or one of its group members could deduct an amount under section 73QA for the Y‑1 year of income if the company or group member had been eligible to claim an additional deduction under section 73Y of that Act (as in force before the commencement of this Schedule) for that Y‑1 year of income.
(3) A term that is used in this item and had a meaning given by any of sections 73P to 73Z of the Income Tax Assessment Act 1936 immediately before the commencement of this Schedule has the same meaning in this item.
80 Transitional provisions—reduced notional expenditure on foreign owned R&D
(1) This item has effect for the purposes of the application of sections 73P to 73Z (inclusive) of the Income Tax Assessment Act 1936 as amended by this Schedule, if:
(a) in its group membership period including all or part of the year of income (the initial year) starting after 30 June 2007 and before 1 July 2008, an eligible company has incurred an amount of expenditure that is expenditure on foreign owned R&D by the eligible company in its group membership period for the year of income; and
(b) any of the 3 immediately preceding years of income were not nil expenditure years.
(2) For the purposes of paragraph 73QB(1)(b) of the Income Tax Assessment Act 1936, the eligible company is taken to have been able to deduct an amount under subsection 73B(14C) of that Act for each of the following years of income:
(a) the year of income before the initial year;
(b) the year of income 2 years before the initial year;
(c) the year of income 3 years before the initial year.
(3) The reduced notional expenditure on foreign owned R&D by the eligible company in its group membership period for an earlier year of income described in the second column of an item of the table is taken to be the amount set out in the third column of that item.
Reduced notional expenditure on foreign owned R&D | ||
Item | Earlier year of income | Amount of reduced notional expenditure on foreign owned R&D |
1 | The year of income before the initial year | 90% of the amount described in paragraph (1)(a) |
2 | The year of income 2 years before the initial year | 80% of the amount described in paragraph (1)(a) |
3 | The year of income 3 years before the initial year | 70% of the amount described in paragraph (1)(a) |
(4) To avoid doubt, this item has effect for the purposes of the application of sections 73P to 73Z (inclusive) of the Income Tax Assessment Act 1936 as amended by this Schedule not only for the initial year but also for the next 2 years of income.
Note: This item will be relevant only to years of income assessments for which can be affected by the amount of reduced notional expenditure on foreign owned R&D for years of income before the initial year.
(5) A term that is used in this item and has a meaning given by section 73B, or any of sections 73P to 73Z (inclusive), of the Income Tax Assessment Act 1936 as amended by this Schedule has the same meaning in this item.
Tax Laws Amendment (Personal Income Tax Reduction) Act 2008
(No. 29, 2008)
Schedule 1
10 Application
The amendments made by this Part apply to assessments for the 2008‑09 year of income.
20 Application
The amendments made by this Part apply to assessments for the 2009‑10 year of income.
30 Application
The amendments made by this Part apply to assessments for the 2010‑11 year of income and later years of income.
Tax Laws Amendment (Election Commitments No. 1) Act 2008
(No. 32, 2008)
Schedule 1
58 Application
The amendments made by this Schedule apply to fund payments made in relation to the first income year starting on or after the first 1 July after the day on which this Act receives the Royal Assent and later income years.
Tax Laws Amendment (2008 Measures No. 2) Act 2008 (No. 38, 2008)
Schedule 9
4 Application
The amendments made by this Schedule apply in relation to Equine Workers Hardship Wage Supplement Payments received in the 2007‑08 income year and later income years.
Schedule 11
2 Application
The amendment made by this Schedule applies to assessments for the 2002‑03 year of income and later years of income.
Tax Laws Amendment (Budget Measures) Act 2008 (No. 59, 2008)
Schedule 1
7 Application
The amendment made by item 6 applies to depreciating assets acquired on or after 1 July 2008.
13 Application
The amendments made by items 10 to 12 apply in relation to the 2008‑09 year of income and later years.
Families, Housing, Community Services and Indigenous Affairs and Other Legislation Amendment (2008 Budget and Other Measures) Act 2008 (No. 63, 2008)
4 Review of operation of amendments
(1) The Minister must cause an independent review of the operation of the amendments made by this Act to be undertaken and completed by 30 June 2010.
(2) The persons who undertake the review under subsection (1) must give the Minister a written report of the review.
(3) The Minister must cause a copy of the report of the review under subsection (1) to be tabled in each House of the Parliament within 15 sitting days of the day on which the report is given to the Minister.
(4) The review must be conducted by a panel of not less than 5 persons, of which at least:
(a) 3 persons must be nominated by relevant key stakeholder organisations; and
(b) 2 persons must be nominated by the Minister.
Schedule 1
16 Application
The amendments made by this Part apply in relation to the 2008‑09 income year and later income years.
First Home Saver Accounts (Further Provisions) Amendment Act 2008
(No. 92, 2008)
Schedule 1
26 Application
The amendments made by this Schedule apply from 1 October 2008.
Tax Laws Amendment (2008 Measures No. 4) Act 2008 (No. 97, 2008)
Schedule 1
12 Application
The amendments made by this Schedule apply in relation to demutualisations occurring on and after 1 July 2007.
Schedule 3
11 Application
The amendment made by item 10 of this Schedule applies to assessments for the 2006‑07 year of income and later income years.
14 Application
The amendment made by item 13 of this Schedule applies to assessments for the 2006‑07 year of income and later income years.
18 Transitional
The amendment made by item 15 of this Schedule does not affect the continuity of an approval given for the purposes of the definition of an approved research institute in subsection 73A(6) of the Income Tax Assessment Act 1936 before the commencement of this Schedule.
Same‑Sex Relationships (Equal Treatment in Commonwealth Laws—General Law Reform) Act 2008 (No. 144, 2008)
Schedule 14
58 Application of amendments of the Income Tax Assessment Act 1936
The amendments of the Income Tax Assessment Act 1936 made by this Schedule apply in relation to the 2009‑2010 year of income and later years of income.
Tax Laws Amendment (2008 Measures No. 5) Act 2008 (No. 145, 2008)
Schedule 3
2 Application
The amendment made by this Schedule applies to interest paid on or after the commencement of this Schedule.
Schedule 5
9 Application
The amendments made by this Schedule apply to assessments for the income year (the application year) in which this Act receives the Royal Assent and later income years.
10 Transitional
(1) Subsections 102MB(2), (3) and (4), and section 102MC, of the Income Tax Assessment Act 1936 do not apply to a unit trust for the application year if the trustee of the trust chooses that those provisions are not to apply.
(2) A choice the trustee can make under subitem (1) must be made by the day the trustee lodges the trustee’s return of income for the application year.
(3) The way the trustee prepares the trustee’s return of income for the application year is sufficient evidence of the making of the choice.
Example: A unit trust that would cease to be a public trading trust because of the safe harbour rule could make a choice under this provision so that it is taxed as a public trading trust for the application year.
Household Stimulus Package Act (No. 2) 2009 (No. 4, 2009)
1 Administrative scheme for household stimulus payments
(1) Subject to this item, a Minister administering:
(a) the A New Tax System (Family Assistance) Act 1999; or
(b) the Social Security Act 1991; or
(c) the Farm Household Support Act 1992; or
(d) the Veterans’ Entitlements Act 1986;
may, by legislative instrument, determine a scheme under which household stimulus payments may be made to persons in particular circumstances. The Minister may, by legislative instrument, vary or revoke the scheme.
(2) The circumstances in which the scheme provides for payments must be:
(a) circumstances:
(i) in which the Minister considers that Part 7 of the A New Tax System (Family Assistance) Act 1999 or Part 2.18 of the Social Security Act 1991 does not produce appropriate results; and
(ii) that occur in the financial year starting on 1 July 2008; or
(b) circumstances:
(i) in which the Minister considers that Division 14 of Part 2.13A of the Social Security Act 1991 does not produce appropriate results; and
(ii) that occur in the period starting on 1 July 2008 and ending on the day on which that Division ceases to have effect under section 665ZZE of that Act.
(3) Without limiting the generality of subitem (1), the scheme may deal with the following:
(a) the circumstances in which payments are to be made;
(b) the amount of the payments;
(c) what a person has to do to get a payment;
(d) debt recovery;
(e) administrative matters, such as determination of entitlement and how and when payments will be made.
(4) Without limiting the generality of subparagraph (2)(a)(i), circumstances in which the provisions referred to in that subparagraph do not produce appropriate results may include the circumstance of an FTB child (within the meaning of the A New Tax System (Family Assistance) Act 1999) aged 19 or 20 on 3 February 2009.
(5) Payments under the scheme are to be made out of the Consolidated Revenue Fund, which is appropriated accordingly.
Tax Laws Amendment (2008 Measures No. 6) Act 2009 (No. 14, 2009)
Schedule 5
14 Application of amendments
(1) The amendments made by Division 1 of Part 1 of this Schedule apply in relation to the 2008‑09 income year.
Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009
(No. 15, 2009)
Schedule 1
102 Definitions
In this Part:
financial arrangement amendments means the amendments made by Parts 1 and 2 of this Schedule.
first applicable income year means the first income year for which the financial arrangement amendments apply to you under item 103.
lodgment date means the due date for you to lodge an income tax return.
103 Application of financial arrangement amendments (income years)
(1) Subject to subitem (2), the financial arrangement amendments apply to you for income years commencing on or after 1 July 2010.
(2) The financial arrangement amendments apply to you for income years commencing on or after 1 July 2009 if you elect to have this subitem apply to you.
Note: For a consolidated group, it is the head entity that would make the election.
(3) An election under subitem (2) must be made on or before the first lodgment date that occurs on or after the start of your first income year commencing on or after 1 July 2009.
104 Application of financial arrangement amendments (financial arrangements)
Future financial arrangements
(1) The financial arrangement amendments apply to financial arrangements that you start to have in the first applicable income year or a later income year.
Existing financial arrangements
(2) The financial arrangement amendments apply to all financial arrangements that:
(a) you started to have before the start of the first applicable income year; and
(b) you have at the start of that income year;
only if you elect to have this subitem apply to you.
(3) The financial arrangement amendments do not apply under subitem (2) to a financial arrangement that arose from a disposal of property (including a disposal of a capital asset, a revenue asset, a depreciating asset or trading stock).
(4) The financial arrangement amendments do not apply under subitem (2) to a financial arrangement if:
(a) the election is made by the head company of a consolidated group or MEC group; and
(b) the election specifies that the election is not to apply to financial arrangements in relation to life insurance business carried on by a member of the consolidated group or MEC group; and
(c) the arrangement is one that relates to the life insurance business carried on by a member of the consolidated group or MEC group.
(5) An election under subitem (2) must:
(a) be made on or before the first lodgment date that occurs on or after the start of the first applicable income year; and
(b) be notified to the Commissioner on or before the lodgment date referred to in paragraph (a).
Note: The Commissioner may, in limited circumstances, extend the time on or before which the election must be notified to the Commissioner. See item 104A.
(6) If you make an election under subitem (2), treat subsection 230‑455(7) of the Income Tax Assessment Act 1997 as allowing you to make an election under that subsection that applies to:
(a) in any case—all of the financial arrangements that you start to have in the income year in which the election is made or a later income year; or
(b) if you make the election at the same time as you make the election under subitem (2)—all of your financial arrangements to which the financial arrangements amendments apply.
(7) If you make an election under subitem (2), treat section 230‑150 of the Income Tax Assessment Act 1997 as allowing you to make an election under that section that, despite paragraphs 230‑160(1)(b) and 230‑165(1)(b), applies to a financial arrangement that:
(a) you started to have before the start of the first applicable income year; and
(b) you have at the start of that income year.
(7A) An election that you make under section 230‑150 of the Income Tax Assessment Act 1997 extends to a financial arrangement referred to in subitem (2) only if:
(a) that election is made on or before the first lodgment date that occurs after the start of the first applicable income year; and
(b) for financial arrangements to which section 230‑160 of that Act applies:
(i) at the time you make the election, you made determinations that satisfy the requirements of subsections 230‑160(3) and (4) (other than paragraphs 230‑160(3)(b) and (4)(b)); and
(ii) at, or soon after, the time you make the election, you have in place records in relation to the arrangement that satisfy the requirements of paragraphs 230‑160(3)(b) and (4)(b); and
(c) for financial arrangements to which section 230‑165 of that Act applies:
(i) at the time you make the election, you made determinations that satisfy the requirements of subsections 230‑165(3) and (4) (other than paragraphs 230‑165(3)(b) and (4)(b)); and
(ii) at, or soon after, the time you make the election, you have in place records in relation to the arrangement that satisfy the requirements of paragraphs 230‑165(3)(b) and (4)(b).
(8) An election that you make under Subdivision 230‑C, 230‑D or 230‑F of the Income Tax Assessment Act 1997 extends to financial arrangements referred to in subitem (2) only if that election is made on or before the first lodgment date that occurs after the start of the first applicable income year.
(9) An election that you make under Subdivision 230‑E of the Income Tax Assessment Act 1997 extends to a financial arrangement referred to in subitem (2) only if:
(a) that election is made on or before the first lodgment date that occurs after the start of the first applicable income year; and
(b) the requirements of section 230‑335 were satisfied in relation to the arrangement at the time the arrangement was created, acquired or applied; and
(c) at, or soon after, the time you make the election, you have in place records in relation to the arrangement that satisfy the requirements of section 230‑355 and section 230‑360 (other than subparagraph 230‑360(2)(c)(ii)); and
(d) the requirements of section 230‑365 have been satisfied at all times since the arrangement was created, acquired or applied for the purpose of hedging a risk in relation to a hedged item.
(10) To avoid doubt, subsection 230‑310(4) does not apply to a financial arrangement that you started to have before the start of the first applicable income year and that you have at the start of that income year.
(11) To avoid doubt, the election referred to in subitem (8) or (9) applies to the financial arrangements referred to in subitem (2) even though you started to have the arrangements before the election is made.
(12) If you make an election under subitem (2), balancing adjustments must be made under subitem (13).
(13) Use the following method statement to make the balancing adjustments under this subitem:
Balancing adjustment method statement
Step 1. Work out the total of all the amounts that relate to the financial arrangements and that would have been included in your assessable income if Division 230 of the Income Tax Assessment Act 1997 had applied to gains and losses from the arrangements from the time when you started to have them: the result is the notional assessable amount.
Step 2. Work out the total of all the amounts that relate to the financial arrangements and that would have been allowable to you as deductions if that Division had applied to gains and losses from the arrangements from the time when you started to have them: the result is the notional deductible amount.
Step 3. Work out the total of all the amounts that relate to the financial arrangements and have been included in your assessable income from the time when you started to have them: the result is the actual assessed amount.
Step 4. Work out the total of all the amounts that relate to the financial arrangements and that have been allowable as deductions for you from the time when you started to have them: the result is the actual deducted amount.
Step 5. Add the notional assessable amount to the actual deducted amount: the result is the step 5 amount.
Step 6. Add the actual assessed amount to the notional deductible amount: the result is the step 6 amount.
Step 7. Compare the step 5 amount with the step 6 amount. If the step 5 amount exceeds the step 6 amount, the excess is included in your assessable income as a balancing adjustment. If the step 6 amount exceeds the step 5 amount, the excess is allowable as a deduction as a balancing adjustment. If the step 5 amount and the step 6 amount are equal there is no balancing adjustment.
(14) If:
(a) an amount is recorded in a deferred tax asset account in accordance with:
(i) accounting standard AASB 112 (or another accounting standard prescribed by the regulations for the purposes of this paragraph); or
(ii) if that standard does not apply to the preparation of your financial reports—a comparable accounting standard that applies to the preparation of your financial reports under a foreign law;
immediately before the start of the first applicable income year; and
(b) the whole or a part of that amount (the attributable assessable amount) is attributable to a financial arrangement referred to in subitem (2); and
(c) the method of relying on financial reports provided for in Subdivision 230‑F applies to take account of a gain or loss you make from the financial arrangement;
the following provisions have effect:
(d) the financial arrangement is to be disregarded for the purposes of steps 1 to 4 of the method statement in subitem (13); and
(e) the attributable assessable amount is to be reduced to the extent to which it represents unused tax credits and then grossed up under subitem (16); and
(f) the step 6 amount is to be increased by the amount obtained under paragraph (e).
(15) If:
(a) an amount is recorded in a deferred tax liability account in accordance with:
(i) accounting standard AASB 112 (or another accounting standard prescribed by the regulations for the purposes of this paragraph); or
(ii) if that standard does not apply to the preparation of your financial reports—a comparable accounting standard that applies to the preparation of your financial reports under a foreign law;
immediately before the start of the first applicable income year; and
(b) the whole or a part of that amount (the attributable deductible amount) is attributable to a financial arrangement referred to in subitem (2); and
(c) the method of relying on financial reports provided for in Subdivision 230‑F applies to take account of a gain or loss you make from the financial arrangement;
the following provisions have effect:
(d) the financial arrangement is to be disregarded for the purposes of steps 1 to 4 of the method statement in subitem (13);
(e) the attributable deductible amount is to be reduced to the extent to which it represents unused tax credits and then grossed up under subitem (16);
(f) the step 5 amount is to be increased by the amount obtained under paragraph (e).
(16) An amount is to be grossed up for the purposes of subitems (14) and (15) by multiplying the amount by:
(17) A balancing adjustment under subitem (13) is to be spread evenly over the first applicable income year and the next 3 income years.
(18) In applying steps 1 and 2 in the method statement in subitem (13) to financial arrangements, assume that any election that extends to the arrangements under subitem (6) had applied to those financial arrangements from the time when you started to have them.
(19) In applying section 121EH of the Income Tax Assessment Act 1936, disregard any balancing adjustment under subitem (13).
104A Application of financial arrangement amendments (financial arrangements)—late notices
(1) A reference in paragraph 104(5)(b) to the lodgment date is to be treated, in relation to an election under subitem 104(2), as being a reference to a later date specified in a notice the Commissioner gives to you under this item, if the Commissioner gives you such a notice in relation to the election.
(2) The Commissioner may give you a notice in relation to the election if:
(a) the Commissioner is satisfied that the election was not notified to the Commissioner on or before the lodgment date because of:
(i) an honest mistake of yours; or
(ii) an inadvertence of yours; or
(b) the Commissioner is satisfied that:
(i) the election was not notified to the Commissioner on or before the lodgment date because of circumstances outside of your control; and
(ii) you took all reasonable steps to notify the Commissioner of the election on or before the lodgment date, or there were no such steps you could have taken.
(3) The later date specified in the notice must be a date that occurred no later than 3 months after the lodgment date mentioned in paragraph 104(5)(b) (disregarding this item).
104B Asset or liability of entity joining pre‑TOFA consolidated group etc.
(1) This item applies in relation to an asset or liability if:
(a) an entity (the joining entity) becomes a subsidiary member of a consolidated group or MEC group at a time (the joining time); and
(b) the asset or liability becomes that of the head company of the group because subsection 701‑1(1) of the Income Tax Assessment Act 1997 (the single entity rule) applies when the joining entity becomes a subsidiary member of the group; and
(c) the asset or liability is, or is part of, a financial arrangement at the start of the head company’s first applicable income year; and
(d) the head company’s first applicable income year starts after the joining time; and
(e) the head company has the asset or liability (whether or not because of subsection 701‑1(1) of the Income Tax Assessment Act 1997 (the single entity rule)) throughout the period:
(i) starting at the joining time; and
(ii) ending at the start of the head company’s first applicable income year; and
(f) the head company elects to have subitem 104(2) apply to itself; and
(g) the joining entity is not a chosen transitional entity (within the meaning of Division 701 of the Income Tax (Transitional Provisions) Act 1997).
Note: Item 104C prevents the application of this item in relation to certain assets and liabilities.
(2) For the purposes of subitem 104(13) and Division 230 of the Income Tax Assessment Act 1997:
(a) in the case of an asset—assume that subsection 701‑55(5A) of that Act applies in relation to the asset at the joining time; and
(b) in the case of a liability—assume that section 715‑375 of that Act applies as if the liability is, or is part of, a Division 230 financial arrangement at the joining time.
(3) Subitems 104(14) and (15) do not apply in relation to the asset or liability.
(4) In the case of an asset, subitems (5), (6) and (7) apply if, on the assumption that subsection 701‑55(5A) of the Income Tax Assessment Act 1997 applies in relation to the asset at the joining time, paragraph 701‑55(5A)(b) of that Act would apply in relation to the asset.
(5) Work out if the Division 230 starting value for the asset at the joining time exceeds or falls short of its tax cost setting amount.
(6) If there is an excess, an amount equal to 25% of that excess is included in the head company’s assessable income for:
(a) the head company’s first applicable income year; and
(b) each of the 3 subsequent income years.
(7) If there is a shortfall, the head company is entitled to a deduction equal to 25% of that shortfall for:
(a) the head company’s first applicable income year; and
(b) each of the 3 subsequent income years.
(8) In the case of a liability, subitem (9) applies if Subdivision 705‑B of the Income Tax Assessment Act 1997 (group formation) has effect in relation to the joining entity becoming a subsidiary member of the group.
(9) Treat the amount of the payment mentioned in subsection 715‑375(2) of that Act as being the amount of consideration that the joining entity would need to provide, if it were to cease holding the liability just before the joining time, without an amount being assessable income of, or deductible to, the joining entity.
104C Exception to item 104B
(1) Subitem (2) applies if:
(a) assuming that item 51 of Schedule 3 to the Tax Laws Amendment (2012 Measures No. 2) Act 2012 commenced at the same time as this item, that item would apply in relation to a ruling or advice; and
(b) to the extent that the ruling or advice has effect in relation to the application of subsection 701‑55(5C) or (6) of the original 2010 law (within the meaning of that Schedule) in respect of the joining entity mentioned in item 50 of that Schedule, that ruling or advice is in relation to an asset of an entity for an income year; and
(c) the asset is, or is part of, a financial arrangement at the start of the income year; and
(d) the requirements in subitem 104B(1) are satisfied in relation to the asset; and
(e) the entity is the head company mentioned in subitem 104B(1); and
(f) the income year is the head company’s first applicable income year mentioned in subitem 104B(1).
(2) Item 104B does not apply in relation to the asset.
(3) Subitem (4) applies if:
(a) subitem (2) applies; and
(b) a liability is, or is part of, a financial arrangement at the start of the income year mentioned in subitem (1); and
(c) the financial arrangement is of the same kind as the financial arrangement mentioned in paragraph (1)(c); and
(d) the requirements in subitem 104B(1) are satisfied in relation to the liability; and
(e) the head company mentioned in subitem 104B(1) is the same entity as the head company mentioned in paragraph (1)(e) of this item.
(4) Item 104B does not apply in relation to the liability.
105 Application of financial arrangement amendments (arrangements that are not financial arrangements)
(1) Subject to this item, items 104 and 104A apply to arrangements that are not financial arrangements in the same way that those items apply to financial arrangements.
(2) However, the method statement in subitem 104(13) applies to arrangements that are not financial arrangements in accordance with subitem (1) of this item as if:
(a) the reference in step 1 of that method statement to “Division 230 of the Income Tax Assessment Act 1997” were a reference to “Subdivision 775‑F of the Income Tax Assessment Act 1997”; and
(b) the reference in step 2 of that method statement to “Division” were a reference to “Subdivision”.
114 Application
The amendments made by this Part apply on and after 17 December 2003.
Tax Laws Amendment (2009 Measures No. 1) Act 2009 (No. 27, 2009)
Schedule 3
102 Application
(1) The amendments made by this Schedule apply in relation to income years starting on or after 1 July 2009.
Tax Laws Amendment (2009 Measures No. 2) Act 2009 (No. 42, 2009)
Schedule 1
16 Application
The amendments of Schedule 2G to the Income Tax Assessment Act 1936 made by this Schedule apply to assessments for the year of income including 18 October 2008 and later years of income.
Note: Division 2AA (Financial claims scheme for account‑holders with insolvent ADIs) of Part II of the Banking Act 1959 commenced on 18 October 2008.
Tax Laws Amendment (2009 Budget Measures No. 1) Act 2009
(No. 62, 2009)
Schedule 1
2 Application
(1) The amendment made by this Schedule applies to foreign earnings derived on or after 1 July 2009 from foreign service performed on or after 1 July 2009.
(2) Subitem (3) applies to:
(a) foreign earnings derived before 1 July 2009 from foreign service performed before, on or after 1 July 2009; and
(b) foreign earnings derived on or after 1 July 2009 from foreign service performed before 1 July 2009.
(3) Disregard the amendment made by this Schedule in determining whether the foreign earnings are exempt from tax under subsection 23AG(1) of the Income Tax Assessment Act 1936.
Tax Laws Amendment (2009 Measures No. 4) Act 2009 (No. 88, 2009)
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of this section; and
(b) the amendment is made within 2 years after that commencement; and
(c) the amendment is made for the purpose of giving effect to Schedule 4.
Schedule 1
2 Application
The amendment made by this Schedule applies to years of income starting on or after 1 July 2009.
Schedule 3
4 Application
The amendments of the Income Tax Assessment Act 1936 made by this Part apply in relation to demutualisations occurring on or after 1 July 2008.
Schedule 4
5 Application
The amendments made by this Schedule apply on and after 1 July 2002.
Schedule 5
307 Application of item 306
The amendment made by item 306 of this Schedule applies in relation to:
(a) the 2009‑10 year of income; and
(b) later years of income.
316 Application of item 315
The amendment made by item 315 of this Schedule does not apply in relation to any mining withholding tax that became due and payable before 1 July 2000.
318 Application of item 317
The amendment made by item 317 of this Schedule applies in relation to:
(a) the 2009‑10 year of income; and
(b) later years of income.
Tax Laws Amendment (2009 Measures No. 5) Act 2009 (No. 118, 2009)
Schedule 5
3 Application
The amendments made by this Schedule apply to interest paid on or after the commencement of this Schedule.
Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009
(No. 133, 2009)
Schedule 1
86 Application of other amendments
The amendments made by this Schedule (other than items 1, 83, 84 and 85) apply in relation to the ESS interests mentioned in subsections 83A‑5(1) and (2) of the Income Tax (Transitional Provisions) Act 1997, as inserted by this Schedule.
87 Transitional—regulations
Despite subsection 12(2) of the Legislative Instruments Act 2003, regulations that:
(a) are made for the purposes of Division 83A of the Income Tax Assessment Act 1997, added by this Schedule; or
(b) are made for the purposes of a taxation law (within the meaning of that Act) and relate to the amendments made by this Schedule;
may take effect from any time on or after 1 July 2009, if the regulations are made before the end of the period of 3 months commencing on the day this Schedule commences.
Tax Laws Amendment (2009 Measures No. 6) Act 2010 (No. 19, 2010)
Schedule 5
6 Application provision
The amendments made by Part 1 of this Schedule apply in relation to the 2008‑09 income year.
Tax Laws Amendment (2010 Measures No. 1) Act 2010 (No. 56, 2010)
4 Amendment of assessments
(1) Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of Schedule 2 to this Act; and
(b) the amendment is made for the purpose of giving effect to item 1 or 2 of that Schedule; and
(c) the amendment is made within 4 years after the end of the income year in which the relevant CGT event happened.
(2) Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of this section; and
(b) the amendment is made within 2 years after that commencement; and
(c) the amendment is made for the purpose of giving effect to Schedule 5 to this Act.
Schedule 2
4 Application provision
The amendments made by this Schedule apply to CGT events that happen on or after 1 July 2007.
Schedule 3
10 Application provision
(1) The amendments made by this Schedule apply in relation to CGT events that happen on or after the start of the 2008‑09 income year.
Schedule 6
18 Application provision
The amendment of section 82A of the Income Tax Assessment Act 1936 made by this Part applies in relation to assessments for the income year in which this Act receives the Royal Assent and later income years.
119 Transitional provision relating to agents
A declaration in force for the purposes of paragraph (b) of the definition of agent in subsection 6(1) of the Income Tax Assessment Act 1936 immediately before the repeal of that definition by this Part continues to have effect on and after that repeal as if it were a determination under subsection 960‑105(2) of the Income Tax Assessment Act 1997.
125 Application provision
(1) The amendment of subsection 45B(9) of the Income Tax Assessment Act 1936 made by this Part applies to capital benefits provided on or after 30 November 2009.
(2) The amendment is to be disregarded for the purposes of interpreting that subsection as in force before the commencement of the amendment.
Corporations Amendment (Corporate Reporting Reform) Act 2010
(No. 66, 2010)
Schedule 1
57 Application of income tax amendment
Subsection 44(1A) of the Income Tax Assessment Act 1936 (as inserted by this Schedule) applies in relation to dividends declared on or after the commencement of item 7 of this Schedule.
Tax Laws Amendment (2010 Measures No. 2) Act 2010 (No. 75, 2010)
Schedule 1
35 Application provision
The amendments made by this Schedule apply in relation to:
(a) payments made; and
(b) loans made; and
(c) debts forgiven;
on or after 1 July 2009.
Schedule 2
25 Application provision—tax file number reporting
Section 202DP of the Income Tax Assessment Act 1936, inserted by this Act, applies to a quarter in relation to a trust if the quarter commences during an income year of the trust starting on or after 1 July 2010.
Tax Laws Amendment (Transfer of Provisions) Act 2010 (No. 79, 2010)
Schedule 1
53 Meaning of commencement time
In this Part:
commencement time means the time this item commences.
57 Security deposits
If, just before the commencement time, a security requirement is in force under section 213 of the Income Tax Assessment Act 1936, the requirement has effect, from the commencement time, as if it had been made under section 255‑100 in Schedule 1 to the Taxation Administration Act 1953, as added by this Schedule.
66 Inoperative provisions
(1) This item applies if:
(a) just before the commencement time, a person was liable to pay an amount to the Commissioner under:
(i) former section 220AAE, 220AAM or 220AAR of the Income Tax Assessment Act 1936; or
(ii) former subsection 221YHZD(1) or (1A) of that Act; or
(iii) former subsection 221YN(1) of that Act; or
(b) the Commissioner has reason to suspect that, just before the commencement time, a person was so liable.
(2) Despite the repeal of Divisions 8 and 9 of Part VI of the Income Tax Assessment Act 1936 by this Schedule, but subject to item 62 of this Schedule, those Divisions continue to apply, after the commencement time, in relation to the liability or suspected liability, as if the repeal had not happened.
(3) Subsection 268‑90(2) in Schedule 1 to the Taxation Administration Act 1953, as added by this Schedule, is taken to require a statutory declaration or affidavit to which that subsection applies to verify any facts:
(a) that relate to the liability, or suspected liability; and
(b) that the declaration or affidavit would have been required to verify if subsection 222AHE(4), 222AID(4) or 222AIH(3) of the Income Tax Assessment Act 1936, as in force just before the commencement time, had applied to the declaration or affidavit.
Schedule 4
51 Application of other amendments
The amendments made by Parts 1 and 2 of this Schedule (other than item 2) apply to assessments for:
(a) the 2010‑11 income year; and
(b) later income years.
Schedule 5
13 Application
The amendments made by this Schedule apply to the first income year starting on or after the day on which this Act receives the Royal Assent and later income years.
Tax Laws Amendment (2010 Measures No. 3) Act 2010 (No. 90, 2010)
Schedule 4
8 Application provision
The amendments made by this Schedule apply to assessments for the 2008‑09 income year and later income years.
Paid Parental Leave (Consequential Amendments) Act 2010
(No. 105, 2010)
Schedule 2
1 Employer determination made where expected or actual date of birth is before 1 July 2011
(1) The Paid Parental Leave Act 2010 applies, with the modifications set out in this item, in relation to a person who has made a claim for parental leave pay for a child, if:
(a) for a claim made before the day the child is born—the expected date of birth of the child is before 1 July 2011; or
(b) for a claim made after the child is born—the day the child is born is before 1 July 2011.
Note: For a claim made before the day the child is born, see subitem (9) if the expected date of birth of the child is before 1 July 2011, but the child is born on or after that date.
(2) Section 101 of that Act (and the other provisions of that Act so far as they relate to that section) applies in relation to the person as if subsections (1) and (2) of that section were omitted and the following subsection substituted:
(1) The Secretary must make a determination under this section (the employer determination) that a person’s employer is to pay the person instalments if the Secretary is satisfied, when making the determination, that:
(a) a payability determination that parental leave pay is payable to the person, or an initial eligibility determination for the person, is in force; and
(b) the employer has made an election under section 109 that applies to the person; and
(c) the person has consented in the claim to the employer paying instalments to the person; and
(d) the person is likely to be an Australian‑based employee of the employer during whichever of the following periods applies:
(i) if the Secretary has made a payability determination that parental leave pay is payable to the person—the person’s PPL period;
(ii) otherwise—the period of days for which instalments are likely, if the determination is made, to be payable to the person by the employer; and
(e) the employer has an ABN; and
(f) if paragraphs (b) to (e) are satisfied in relation to more than one employer of the person—the person nominated the employer in the claim as the employer who would be required to pay instalments to the person.
(3) For the purposes of this item, an employer determination made under subsection 101(1), as that subsection applies because of subitem (2) of this item, is a transitional employer determination.
(4) The following provisions of that Act do not apply in relation to a transitional employer determination:
(a) section 103 (which deals with responding to a notice of an employer determination);
(b) subsection 107(2) (which deals with when an employer determination comes into force);
(c) subsections 207(3) and 224(1) (which deal with applying for review of employer determination decisions).
(5) Within 14 days after the date of the notice given under section 102 of that Act in relation to the transitional employer determination, the employer may give the Secretary a written notice (the acceptance notice) that complies with section 104 of that Act.
(6) If the employer gives the acceptance notice to the Secretary within that 14 day period, the transitional employer determination comes into force on the day the Secretary receives the acceptance notice.
(7) If the employer does not give the acceptance notice to the Secretary within that 14 day period, the following paragraphs have effect:
(a) the Secretary must revoke the transitional employer determination;
(b) the revocation comes into force on the day of the revocation;
(c) to avoid doubt, subsection 108(5) of that Act (which deals with giving notice of the revocation) applies in relation to the revocation.
(8) The Secretary may extend the 14 day period referred to in subitem (5) in relation to an employer. If the Secretary does so, subitems (6) and (7) have effect accordingly.
(9) Despite paragraph (1)(a) and subitem (2) of this item, if the person’s child is born on or after 1 July 2011, then the following paragraphs have effect:
(a) the Secretary may make an employer determination for the person and the person’s employer under section 101 of the Paid Parental Leave Act 2010, as that section applies apart from this item;
(b) if the Secretary does so and has previously made a transitional employer determination for the person and the employer, the Secretary is taken never to have made the transitional employer determination.
(10) The following provisions of the Paid Parental Leave Act 2010, apply in relation to this item as if it were a provision of that Act:
(a) section 275 (which deals with how that Act applies to an adopted child);
(b) section 276 (which deals with how that Act applies to claims made in exceptional circumstances).
2 Employer determination made where expected date of birth is on or after 1 July 2011 but child born before that date
(1) This item applies if:
(a) the Secretary makes an employer determination for an employer and a person under the Paid Parental Leave Act 2010; and
(b) the person’s claim is made before the day the child is born; and
(c) the expected date of birth of the child is on or after 1 July 2011; and
(d) the child is born before 1 July 2011; and
(e) the person’s employer has not made an election under section 109 of that Act that applies to the person.
(2) If, after the employer determination is made, the Secretary makes a payability determination that parental leave pay is payable to the person for the child, the notice given to the employer under section 113 of that Act must:
(a) state the day the child was born; and
(b) be dated as at the date the preparation of the notice was completed; and
(c) contain a statement to the effect that the employer determination will be revoked, unless the employer:
(i) agrees to being required to pay instalments to the person, even though the child was born before 1 July 2011; and
(ii) gives the Secretary a written notice indicating that agreement within 14 days of the date referred to in paragraph (b).
(3) If the employer does not give the notice referred to in subparagraph (2)(c)(ii) to the Secretary within that 14 day period, the following paragraphs have effect:
(a) the Secretary must revoke the employer determination;
(b) the revocation comes into force on the day of the revocation;
(c) to avoid doubt, subsection 108(5) of that Act (which deals with giving notice of the revocation) applies in relation to the revocation;
(d) section 103 of that Act (which deals with responding to a notice of an employer determination) is taken to have never applied in relation to the employer determination.
(4) The following provisions of that Act apply in relation to this item as if it were a provision of that Act:
(a) section 275 (which deals with how that Act applies to an adopted child);
(b) section 276 (which deals with how that Act applies to claims made in exceptional circumstances).
Tax Laws Amendment (Foreign Source Income Deferral) Act (No. 1) 2010
(No. 114, 2010)
Schedule 1
93 Application of Part 1 amendments
(1) The amendments made by items 2 to 7, 9, 37, 39, 47 to 49, 51, 54 to 56, 59 to 80, and 82 to 87 of this Schedule apply in relation to the 2010‑11 year of income for a taxpayer and later years of income.
(2) The amendments made by items 10 to 13 of this Schedule apply in relation to the 2010‑11 year of income for a trust estate and later years of income.
(3) The amendments made by items 14 to 36 of this Schedule apply in relation to statutory accounting periods ending in the 2010‑11 year of income and later years of income.
94 Application of Part 2 amendments
The amendments made by Part 2 of this Schedule apply to assessments for the 2006‑07 income year and later income years.
95 Saving of regulations relating to stock exchanges
Despite the repeal of the definition of approved stock exchange in section 470 of the Income Tax Assessment Act 1936 by item 37 of this Schedule, regulations made for the purposes of that definition that were in force immediately before this item commences continue in force on and after that commencement as if those regulations had been made for the purposes of the definition of approved stock exchange in the Income Tax Assessment Act 1997 as inserted by item 81 of this Schedule.
96 Saving of elections relating to foreign hybrids
Despite the repeal of subsection 485AA(1) of the Income Tax Assessment Act 1936 by item 37 of this Schedule, elections made under that subsection continue to have effect on and after the commencement of this Schedule as if that repeal had not happened.
Tax Laws Amendment (2010 Measures No. 4) Act 2010 (No. 136, 2010)
Schedule 5
4 Application provision
(1) The amendments made by items 1 and 2 of this Schedule apply to assessments for the 2011‑2012 year of income and later years of income.
(2) The amendment made by item 3 of this Schedule applies to assessments for the 2010‑2011 year of income and later years of income.
Tax Laws Amendment (2011 Measures No. 2) Act 2011 (No. 41, 2011)
Schedule 5
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.
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.
Tax Laws Amendment (2011 Measures No. 4) Act 2011 (No. 43, 2011)
4 Amendment of assessments
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of item 8 of Schedule 3 to this Act; and
(b) the amendment is made within 2 years after that commencement; and
(c) the amendment is made for the purpose of giving effect to that item.
Schedule 2
6 Application
The amendments made by this Schedule apply to assessments for the 2011‑12 income year and later income years.
Acts Interpretation Amendment Act 2011 (No. 46, 2011)
Schedule 3
10 Saving—appointments
The amendments made by Schedule 2 do not affect the validity of an appointment that was made under an Act before the commencement of this item and that was in force immediately before that commencement.
11 Transitional regulations
The Governor‑General may make regulations prescribing matters of a transitional nature (including prescribing any saving or application provisions) relating to the amendments and repeals made by Schedules 1 and 2.
Tax Laws Amendment (2011 Measures No. 5) Act 2011 (No. 62, 2011)
Schedule 1
14 Application provision
The amendments made by this Schedule apply to:
(a) assessments for the trustee of a trust for an income year that is the 2010‑11 income year or a later income year; or
(b) assessments for a beneficiary of a trust that relate to the 2010‑11 income year or a later income year of the trust.
Schedule 2
51 Application provision
(1) Subject to this item, the amendments made by this Schedule apply to assessments for the 2010‑11 income year and later income years.
Early balancers and the 2010‑11 income year
(2) Subitems (3) and (4) apply in relation to a trust whose 2010‑11 income year started before 1 July 2010.
(3) The amendments made by this Schedule do not apply to an assessment for the 2010‑11 income year unless the trustee of the trust makes a choice in accordance with subitem (4).
(4) A choice mentioned in subitem (3):
(a) can only be made before the end of 2 months after the commencement of this item; and
(b) can only be made in writing.
MITs and the 2010‑11 and 2011‑12 income years
(5) Subitems (6) and (7) apply in relation to an entity that:
(a) is a managed investment trust in relation to an income year; or
(b) is treated in the same way as a managed investment trust in relation to an income year for the purposes of Division 275 of the Income Tax Assessment Act 1997.
(6) If the income year is the 2010‑11 or 2011‑12 income year, the amendments made by this Schedule do not apply to an assessment for the income year unless:
(a) the trustee of the entity makes a choice in accordance with subitem (7) in relation to the income year; or
(b) in the case of the 2011‑12 income year—the trustee of the entity made a choice in accordance with subitem (7) in relation to the 2010‑11 income year.
(7) A choice mentioned in subitem (6):
(a) can only be made before the end of 2 months after the later of:
(i) the end of the income year in relation to which the choice is made; and
(ii) the commencement of this item; and
(b) can only be made in writing.
Schedule 4
34 Application provision
The amendments made by this Schedule apply to assessments for the 2011‑12 income year and later income years.
Tax Laws Amendment (Research and Development) Act 2011
(No. 93, 2011)
Schedule 4
1 Application of repeals and amendments
(1) The repeals and amendments made by this Act apply:
(a) so far as they affect assessments—to assessments for income years commencing on or after 1 July 2011; and
(b) so far as they relate to income years but do not affect assessments—to income years commencing on or after 1 July 2011; and
(c) otherwise—to acts done or omitted to be done, states of affairs existing, or periods ending on or after the commencement of the first income year commencing on or after 1 July 2011.
Note: For the purposes of an assessment for an income year commencing on or after 1 July 2011, regard may still be had to acts done or omitted to be done, states of affairs existing, or periods ending during an earlier income year. For example, regard may be had to expenditure incurred by other entities in income years commencing before 1 July 2011 for the purposes of paragraph 355‑415(1)(b) of the Income Tax Assessment Act 1997.
(2) However, each of the following applies in relation to the 2011‑12 financial year and all later financial years:
(a) section 29E of the Industry Research and Development Act 1986 (as inserted by Schedule 2);
(b) the repeal of paragraph 39H(b) of the Industry Research and Development Act 1986;
(c) section 46 of the Industry Research and Development Act 1986 (as amended by this Act).
2 Object
The object of this Part is to ensure that, despite the repeals and amendments made by this Act, the full legal and administrative consequences of:
(a) any act done or omitted to be done; or
(b) any state of affairs existing; or
(c) any period ending;
before such a repeal or amendment applies, can continue to arise and be carried out, directly or indirectly through an indefinite number of steps, even if some or all of those steps are taken after the repeal or amendment applies.
3 Making and amending assessments, and doing other things etc., in relation to past matters
(1) Even though a provision is repealed or amended by this Act, the repeal or amendment is disregarded for the purpose of doing any of the following under any Act or legislative instrument (within the meaning of the Legislative Instruments Act 2003):
(a) making or amending an assessment (including under a provision that is itself repealed or amended);
(b) exercising any right or power, performing any obligation or duty or doing any other thing (including under a provision that is itself repealed or amended);
in relation to any act done or omitted to be done, any state of affairs existing, or any period ending, before the repeal or amendment applies.
Note: Examples of things covered by this subitem are as follows:
(a) an eligible company may object under Part IVC of the Taxation Administration Act 1953 in an income year commencing on or after 1 July 2011 about a notice given under former section 73I of the Income Tax Assessment Act 1936 for an income year commencing before 1 July 2011;
(b) an eligible company seeking registration under former section 39J of the Industry Research and Development Act 1986 for an income year commencing before 1 July 2011 may do so during an income year commencing on or after 1 July 2011;
(c) Innovation Australia may give a certificate under former section 39M of the Industry Research and Development Act 1986 in an income year commencing on or after 1 July 2011 about research and development activities registered for an income year commencing before 1 July 2011.
(2) Even though a provision is repealed or amended by this Act, the repeal or amendment is disregarded so far as it relates to a state of affairs:
(a) that exists after the repeal or amendment applies; and
(b) that relates to:
(i) an act done or omitted to be done; or
(ii) a state of affairs existing; or
(iii) a period ending;
before the repeal or amendment applies.
Note: Examples of things covered by this subitem are as follows:
(a) an amount may be included in an eligible company’s assessable income under former subsection 73BF(4) of the Income Tax Assessment Act 1936 for an income year commencing on or after 1 July 2011 if the company receives in that income year an amount for the results of research and development activities for which the company had deductions under former section 73BA of that Act in an income year commencing before 1 July 2011;
(b) an eligible company’s deduction under section 73B of the Income Tax Assessment Act 1936 for expenditure incurred during an income year commencing before 1 July 2011 is reduced because of section 73C of that Act if, in an income year commencing on or after 1 July 2011, the company receives a recoupment of that expenditure from the Commonwealth.
(3) To avoid doubt, this item extends to the repeal of subsection 286‑75(3), and paragraph 286‑80(2)(b), in Schedule 1 to the Taxation Administration Act 1953. In particular, if, in a particular case, the period in respect of which an administrative penalty is payable under subsection 286‑75(3) in that Schedule:
(a) has not begun; or
(b) has begun but not ended;
when those provisions are repealed, then, despite the repeal, those provisions continue to apply in the particular case until the end of the period.
4 Saving of provisions about effect of assessments
If a provision or part of a provision that is repealed or amended by this Act deals with the effect of an assessment, the repeal or amendment is disregarded in relation to assessments made, before or after the repeal or amendment applies, in relation to any act done or omitted to be done, any state of affairs existing, or any period ending, before the repeal or amendment applies.
5 Repeals disregarded for the purposes of dependent provisions
If the operation of a provision (the subject provision) of any Act or legislative instrument (within the meaning of the Legislative Instruments Act 2003) made under any Act depends to any extent on a provision that is repealed by this Act, the repeal is disregarded so far as it affects the operation of the subject provision.
6 Schedule does not limit operation of the Acts Interpretation Act 1901
This Schedule does not limit the operation of the Acts Interpretation Act 1901.
Tax Laws Amendment (2011 Measures No. 7) Act 2011 (No. 147, 2011)
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of Schedule 1 (about special disability trusts) to this Act; and
(b) the amendment is made within 2 years after that commencement; and
(c) the amendment is made for the purpose of giving effect to that Schedule.
Schedule 4
4 Application of amendments
The amendments made by this Schedule apply in relation to lodgment dates mentioned in paragraph 104(5)(b) of Schedule 1 to the Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009, whether the lodgment dates occur before, on or after the commencement of this item.
Schedule 7
1 Validation of notices
(1) This item applies if the Commissioner gave (or purported to give) a notice under former section 222AOE on or after 10 December 2007 by sending it by pre‑paid post in accordance with section 28A of the Acts Interpretation Act 1901.
(2) For the purpose of former section 222AOE, treat the notice as having been given at the time the Commissioner sent it by pre‑paid post in accordance with section 28A of the Acts Interpretation Act 1901.
(3) This item applies despite section 29 of the Acts Interpretation Act 1901.
(4) This item does not affect rights or liabilities arising between parties to proceedings heard and finally determined by a court on or before the commencement of this item, to the extent that those rights or liabilities arose from, or were affected by, a notice referred to in subitem (1).
(5) In this item:
former section 222AOE means former section 222AOE of the Income Tax Assessment Act 1936 (as that section was in force before the commencement of Schedule 1 to the Tax Laws Amendment (Transfer of Provisions) Act 2010).
Clean Energy (Tax Laws Amendments) Act 2011 (No. 159, 2011)
Schedule 1
3 Application provision
The amendments made by this Part apply to the 2012‑13 year of income and later years of income.
Schedule 3
24 Application provision
The amendments made by this Schedule apply to the 2012‑13 year of income and later years of income.
The following provision commences on 1 July 2015:
Schedule 1
6 Application provision
The amendments made by this Part apply to the 2015‑16 year of income and later years of income.
Tax Laws Amendment (2011 Measures No. 9) Act 2012 (No. 12, 2012)
(1) Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of Part 8 of Schedule 6 to this Act; and
(b) the amendment is made within 2 years after that commencement; and
(c) the amendment is made for the purpose of giving effect to that Part.
(2) Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of Division 1 of Part 10 of Schedule 6 to this Act; and
(b) the amendment is made within 2 years after that commencement; and
(c) the amendment is made for the purpose of giving effect to that Division.
(3) Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of Division 2 of Part 10 of Schedule 6 to this Act; and
(b) the amendment is made within 2 years after that commencement; and
(c) the amendment is made for the purpose of giving effect to that Division.
Schedule 6
31 Application of amendment
The amendment made by this Division applies to the 2007‑08 income year and later income years.
155 Application of amendments
The amendments made by this Part apply to applications made on or after the commencement of this item.
156 Saving provision—approved forms
A form that, just before the commencement of this item:
(a) had been approved by the Commissioner for the purposes of subsection 202B(2) of the Income Tax Assessment Act 1936; and
(b) was in force;
has effect, from that commencement, as if it had been approved for the purposes of that subsection as amended by this Part.
189 Application of amendment
The amendment made by this Part applies in relation to laws that:
(a) provide that section 170 of the Income Tax Assessment Act 1936 does not prohibit the amendment of an assessment as mentioned in subsection 170A(1) of that Act (as inserted by this Part); and
(b) commence no earlier than 2 years before the commencement of this item.
248 Application of amendments
The amendments made by this Part apply to income years starting on or after 1 July 2008.
253 Application of amendment
The amendment made by this Part applies in relation to payments made on or after 1 July 2009.
255 Application of amendment
The amendment made by this Part applies in relation to notices of determination served as mentioned in paragraph 45C(3)(a) of the Income Tax Assessment Act 1936 on or after 1 July 2002.
Fairer Private Health Insurance Incentives Act 2012 (No. 26, 2012)
Schedule 1
48 Application
(1) The amendments made by this Schedule apply in relation to premiums, and amounts in respect of premiums, paid on and after 1 July 2012.
Tax Laws Amendment (Shipping Reform) Act 2012 (No. 57, 2012)
Schedule 4
2 Application
The amendments made by this Schedule apply in relation to payments made on or after 1 July 2012.
Tax Laws Amendment (2012 Measures No. 3) Act 2012 (No. 58, 2012)
Schedule 3
2 Application
The amendment made by this Schedule applies to assessments for the 2011‑12 year of income and later years of income.
Tax Laws Amendment (2012 Measures No. 1) Act 2012 (No. 71, 2012)
Schedule 4
12 Application of amendments
(1) The amendments made by items 1 to 10 apply to assessments for the 2011‑12 income year and later income years.
(2) The amendment made by item 11 applies to assessments for the 2012‑13 income year and later income years.
Table B
Modifications
Banking (State Bank of South Australia and Other Matters) Act 1994
(No. 69, 1994)
PART 2.4—MODIFICATIONS OF THE INCOME TAX LAW RELATING TO THE RESTRUCTURING OF THE STATE BANK OF SOUTH AUSTRALIA
Division 1—Preliminary
34 Object of Part
The object of this Part is to facilitate the restructuring of the State Bank of South Australia by modifying the effect of the income tax law.
35 Interpretation
An expression used in this Part and in the Income Tax Assessment Act 1936 has the same meaning in this Part as it has in that Act.
36 Definitions
In this Part:
designated subsidiary of the State Bank of South Australia means a company that is an SBSA subsidiary within the meaning of the State Bank (Corporatisation) Act 1994 of South Australia;
re‑transfer provision means:
(a) section 16 of the State Bank (Corporatisation) Act 1994 of South Australia; or
(b) a corresponding provision of a law of another State or of a Territory;
transfer provision means:
(a) section 7 of the State Bank (Corporatisation) Act 1994 of South Australia; or
(b) a corresponding provision of a law of another State or of a Territory.
Division 2—Bank of South Australia Limited to benefit from the post‑26 February 1992 depreciation regime
37 Amendments to allow Bank of South Australia Limited to benefit from the post‑26 February 1992 depreciation regime
(1) For the purposes of section 66 of the Taxation Laws Amendment Act (No. 2) 1992, Bank of South Australia Limited is taken not to be, and never to have been, an associate of:
(a) the State Bank of South Australia; or
(b) a designated subsidiary of the State Bank of South Australia.
(2) For the purposes of section 66 of the Taxation Laws Amendment Act (No. 2) 1992, a unit of property that was acquired by Bank of South Australia Limited as a result of the operation of a transfer provision is taken to have been acquired by Bank of South Australia Limited under a contract entered into after 26 February 1992.
Division 3—Development allowance and general investment allowance
38 Development allowance and general investment allowance—acquisition or construction of property
(1) This section applies to a unit of property if:
(a) the property was acquired, constructed or commenced to be constructed, by:
(i) the State Bank of South Australia; or
(ii) a designated subsidiary of the State Bank of South Australia; and
(b) the property was transferred to Bank of South Australia Limited as a result of the operation of a transfer provision.
(2) The provisions of Subdivisions B and BA of Division 3 of Part III of the Income Tax Assessment Act 1936 apply, and are taken always to have applied, as if:
(a) the property had been acquired, constructed, or commenced to be constructed, as the case may be, by Bank of South Australia Limited instead of by the State Bank of South Australia or the designated subsidiary, as the case may be; and
(b) expenditure of a capital nature incurred by the State Bank of South Australia or the designated subsidiary, as the case may be, in respect of the acquisition or construction of the property had been incurred instead by Bank of South Australia Limited; and
(c) if the property was acquired by the State Bank of South Australia or the designated subsidiary, as the case may be, under a contract entered into at a particular time—the property had been acquired by Bank of South Australia Limited under a contract entered into at that time; and
(d) if the property was constructed, or commenced to be constructed, by the State Bank of South Australia or the designated subsidiary, as the case may be—Bank of South Australia Limited had commenced to construct the property at the same time as the State Bank of South Australia or the designated subsidiary, as the case may be, had commenced to construct it.
39 Development allowance and general investment allowance—uncompleted contracts for the acquisition of property
(1) This section applies to a unit of property if:
(a) the State Bank of South Australia or a designated subsidiary of the State Bank of South Australia entered into a contract for the acquisition of the property; and
(b) before the property was acquired by the State Bank of South Australia or the designated subsidiary, as the case may be, Bank of South Australia Limited acquired the rights under the contract as a result of the operation of a transfer provision; and
(c) Bank of South Australia Limited acquired the property as a result of the performance of the contract.
(2) The provisions of Subdivisions B and BA of Division 3 of Part III of the Income Tax Assessment Act 1936 apply, and are taken always to have applied, as if expenditure of a capital nature incurred by the State Bank of South Australia, or the designated subsidiary, as the case may be, under the contract in respect of the proposed acquisition of the property had been incurred instead by Bank of South Australia Limited.
Division 4—Transfer of tax file number information
Subdivision A—Transfers to Bank of South Australia Limited
40 When Subdivision applies
This Subdivision applies if:
(a) an account or deposit with:
(i) the State Bank of South Australia; or
(ii) a designated subsidiary of the State Bank of South Australia;
is transferred, or is proposed to be transferred, to Bank of South Australia Limited under a transfer provision; and
(b) the account or deposit is an investment to which Part VA of the Income Tax Assessment Act 1936 applies; and
(c) immediately before the transfer or proposed transfer, the investor’s tax file number is or will be taken, for the purposes of Part VA of the Income Tax Assessment Act 1936, to have been quoted to the State Bank of South Australia or the designated subsidiary, as the case requires, in connection with the investment.
41 Eligible tax file number information
For the purposes of this Division, information is eligible tax file number information in relation to an investment if the information is:
(a) if the investor actually quoted the investor’s tax file number to the State Bank of South Australia or the designated subsidiary, as the case requires:
(i) the investor’s tax file number; and
(ii) information connecting that number with the investor; or
(b) if the investor is taken to have quoted the investor’s tax file number to the State Bank of South Australia or the designated subsidiary, as the case requires, because of section 202DDA of the Income Tax Assessment Act 1936:
(i) the investment body remitter number of the interposed entity concerned; and
(ii) information connecting that number with the interposed entity concerned; or
(c) if the investor is taken to have quoted the investor’s tax file number to the State Bank of South Australia or the designated subsidiary, as the case requires, because of section 202DDB of the Income Assessment Act 1936:
(i) the tax file number of the primary investor concerned; and
(ii) information connecting that number with the primary investor concerned; or
(d) if the investor is taken to have quoted the investor’s tax file number to the State Bank of South Australia or the designated subsidiary, as the case requires, because of section 202EB of the Income Tax Assessment Act 1936 —information given by the investor as mentioned in subsection 202EB(1) of that Act; or
(e) if the investor is taken to have quoted the investor’s tax file number to the State Bank of South Australia or the designated subsidiary, as the case requires, because of section 202EC of the Income Tax Assessment Act 1936 —information given by the investor as mentioned in subsection 202EC(1) of that Act.
42 Eligible tax file number information may be disclosed to Bank of South Australia Limited
The State Bank of South Australia or the designated subsidiary, as the case requires, may disclose eligible tax file number information in relation to the investment to Bank of South Australia Limited if:
(a) at least 15 days before the disclosure, the State Bank of South Australia or the designated subsidiary, as the case may be, publishes notices under section 43 about the proposed disclosure; and
(b) the investor does not object to the disclosure in accordance with either of the notices.
43 Notices telling investors about proposed transfer of eligible tax file number information and inviting objections
(1) The State Bank of South Australia or a designated subsidiary of the State Bank of South Australia may cause to be published in both:
(a) a newspaper circulating generally throughout Australia; and
(b) a newspaper circulating generally throughout South Australia;
a notice, in a form approved by the Commissioner, that:
(c) states that the State Bank of South Australia or the designated subsidiary, as the case may be, proposes to disclose specified kinds of eligible tax file number information to Bank of South Australia Limited; and
(d) states that an investor concerned may give the State Bank of South Australia or the designated subsidiary, as the case requires, a written objection within 14 days after the publication of the notice; and
(e) states that if an investor lodges such an objection, the information will not be disclosed to Bank of South Australia Limited; and
(f) contains such additional information as is required by the form.
(2) Notices under subsection (1) that relate to the same proposal must be published on the same day.
44 Consequences of disclosure of eligible tax file number information to Bank of South Australia Limited
(1) If eligible tax file number information in relation to an investment is disclosed to Bank of South Australia Limited under this Subdivision, the investor is taken, for the purposes of Part VA of the Income Tax Assessment Act 1936:
(a) to have quoted his or her tax file number to Bank of South Australia Limited under Division 4 of that Part in connection with the investment; and
(b) to have so quoted his or her tax file number at whichever is the later of the following times:
(i) the time when the disclosure of the eligible tax file number information occurred;
(ii) the time when the transfer of the investment occurred.
(2) For the purposes of subsection 202DG(2A) of the Income Tax Assessment Act 1936, if:
(a) eligible tax file number information in relation to an investment is disclosed to Bank of South Australia Limited under this Subdivision; and
(b) the eligible tax file number information is covered by paragraph 41(a);
the investor is taken to have actually quoted his or her tax file number under Division 4 of Part VA of that Act.
45 Modification of subsection 202EC(4) of the Income Tax Assessment Act 1936
If information covered by paragraph 41(e) is disclosed to Bank of South Australia Limited under this Subdivision, subsection 202EC(4) of the Income Tax Assessment Act 1936 has effect as if the reference in that subsection to subsection 202EC(1) of that Act included a reference to section 42 of this Act.
Subdivision B—Re‑transfers to the State Bank of South Australia or to a designated subsidiary of the State Bank of South Australia
46 When Subdivision applies
This Subdivision applies if:
(a) an account or deposit with Bank of South Australia Limited is transferred, or is proposed to be transferred, to the State Bank of South Australia, or to a designated subsidiary of the State Bank of South Australia, under a re‑transfer provision; and
(b) the account or deposit is an investment to which Part VA of the Income Tax Assessment Act 1936 applies; and
(c) immediately before the transfer or proposed transfer, the investor’s tax file number is or will be taken, because of section 44, to have been quoted to Bank of South Australia Limited in connection with the investment for the purposes of Part VA of the Income Tax Assessment Act 1936; and
(d) eligible tax file number information in relation to the investment was disclosed to Bank of South Australia Limited under Subdivision A.
47 Eligible tax file number information may be disclosed to the State Bank of South Australia
(1) This section applies if the investment is transferred, or is proposed to be transferred, to the State Bank of South Australia.
(2) Bank of South Australia Limited may disclose the eligible tax file number information in relation to the investment to the State Bank of South Australia if:
(a) at least 22 days before the disclosure, Bank of South Australia Limited sends the investor a notice under section 49 about the proposed disclosure; and
(b) the investor does not object to the disclosure in accordance with the notice.
48 Eligible tax file number information may be disclosed to a designated subsidiary of the State Bank of South Australia
(1) This section applies if the investment is transferred, or is proposed to be transferred, to a designated subsidiary of the State Bank of South Australia.
(2) Bank of South Australia Limited may disclose the eligible tax file number information in relation to the investment to the designated subsidiary if:
(a) at least 22 days before the disclosure, Bank of South Australia Limited sends the investor a notice under section 49 about the proposed disclosure; and
(b) the investor does not object to the disclosure in accordance with the notice.
49 Notices telling investors about proposed transfer of eligible tax file number information and inviting objections
Bank of South Australia Limited may send an investor a notice, in a form approved by the Commissioner, that:
(a) states that Bank of South Australia Limited proposes to disclose specified kinds of eligible tax file number information to the State Bank of South Australia or to a designated subsidiary of the State Bank of South Australia; and
(b) states that the investor may give Bank of South Australia Limited a written objection within 21 days after:
(i) if the notice is sent by post—the day on which the notice is posted; or
(ii) if the notice is sent by being delivered to the investor personally—the day of delivery; or
(iii) if the notice is sent by being left at a particular place or address—the day on which the notice is left at that place or address; and
(c) states that if the investor lodges such an objection, the information will not be disclosed to the State Bank of South Australia, or to the designated subsidiary, as the case requires; and
(d) contains such additional information as is required by the form.
Note: Section 28A of the Acts Interpretation Act 1901 sets out the methods of sending notices.
50 Consequences of disclosure of eligible tax file number information to the State Bank of South Australia or to a designated subsidiary of the State Bank of South Australia
(1) If eligible tax file number information in relation to an investment is disclosed to the State Bank of South Australia, or to a designated subsidiary of the State Bank of South Australia, under this Subdivision, the investor is taken, for the purposes of Part VA of the Income Tax Assessment Act 1936:
(a) to have quoted his or her tax file number to the State Bank of South Australia or to the designated subsidiary, as the case requires, under Division 4 of that Part in connection with the investment; and
(b) to have so quoted his or her tax file number at whichever is the later of the following times:
(i) the time when the disclosure of the eligible tax file number information occurred;
(ii) the time when the transfer of the investment occurred.
(2) For the purposes of subsection 202DG(2A) of the Income Tax Assessment Act 1936, if:
(a) eligible tax file number information in relation to an investment is disclosed to the State Bank of South Australia, or to a designated subsidiary of the State Bank of South Australia, under this Subdivision; and
(b) the eligible tax number information was covered by paragraph 41(a);
the investor is taken to have actually quoted his or her tax file number under Division 4 of Part VA of that Act.
51 Modification of subsection 202EC(4) of the Income Tax Assessment Act 1936
(1) If information covered by paragraph 41(e) is disclosed to the State Bank of South Australia under this Subdivision, subsection 202EC(4) of the Income Tax Assessment Act 1936 has effect as if the reference in that subsection to subsection 202EC(1) of that Act included a reference to section 47 of this Act.
(2) If information covered by paragraph 41(e) is disclosed to a designated subsidiary of the State Bank of South Australia under this Subdivision, subsection 202EC(4) of the Income Tax Assessment Act 1936 has effect as if the reference in that subsection to subsection 202EC(1) of that Act included a reference to section 48 of this Act.
Subdivision C—Common provisions
52 Division deemed to be a taxation law for the purposes of section 8WB of the Taxation Administration Act 1953
This Division is taken to be a taxation law for the purposes of section 8WB of the Taxation Administration Act 1953.
53 Disclosure of tax file number information under this Division taken not to be in breach of guidelines under the Privacy Act 1988
A disclosure of eligible tax file number information under this Division is taken not to breach guidelines issued under section 17 of the Privacy Act 1988.
Division 5—Reduction of deductions allowable to Bank of South Australia Limited, and associates of Bank of South Australia Limited, in respect of certain superannuation contributions and eligible termination payments
54 Reduction of deductions allowable to Bank of South Australia Limited, and associates of Bank of South Australia Limited, in respect of certain superannuation contributions and eligible termination payments
Reducible deductions
(1) For the purposes of this section, a deduction is a reducible deduction if:
(a) apart from this section, the deduction is allowable to Bank of South Australia Limited, or an associate of Bank of South Australia Limited, under section 82AAC of the Income Tax Assessment Act 1936 in respect of a contribution to a fund made before the Proclaimed day for the purposes of making provision for superannuation benefits for, or for dependants of, an ex‑employee of:
(i) the State Bank of South Australia; or
(ii) a tax‑exempt designated subsidiary of the State Bank of South Australia; or
(b) apart from this section, the deduction is allowable to Bank of South Australia Limited, or an associate of Bank of South Australia Limited, under the Income Tax Assessment Act 1936 in respect of so much of a designated ETP made before the Proclaimed day in consequence of the termination of the employment of an ex‑employee of:
(i) the State Bank of South Australia; or
(ii) a tax‑exempt designated subsidiary of the State Bank of South Australia;
as is not an approved early retirement scheme payment or a bona fide redundancy payment.
Reduction of reducible deductions
(2) A reducible deduction that, apart from this section, is allowable to a taxpayer for a year of income is reduced by the percentage worked out using the formula:
where:
Pre‑transfer amount for year means so much of the aggregate of the reducible deductions allowable to taxpayers for the year of income apart from this section as is attributable to the current actuarial value of liabilities that had accrued on the last day on which the ex‑employee or ex‑employees concerned were employed by the State Bank of South Australia, or by the tax‑exempt designated subsidiary or tax‑exempt designated subsidiaries, as the case requires.
Total reducible deductions for year means the aggregate of the reducible deductions allowable to taxpayers for the year of income apart from this section.
No deduction unless taxpayer obtains an actuary’s certificate
(3) In spite of subsection (2), a reducible deduction is not allowable to a taxpayer for a year of income unless the taxpayer obtains a certificate by an authorised actuary with respect to the operation of this section. The certificate must be in a form approved in writing by the Commissioner. The taxpayer must obtain the certificate:
(a) before the date of lodgment of the taxpayer’s return of income of the year of income; or
(b) within such further time as the Commissioner allows.
Definitions
(4) In this section:
approved early retirement scheme payment has the same meaning as in Subdivision AA of Division 2 of Part III of the Income Tax Assessment Act 1936.
associate has the same meaning as in section 26AAB of the Income Tax Assessment Act 1936.
authorised actuary means a Fellow or an Accredited Member of the Institute of Actuaries of Australia.
bona fide redundancy payment has the same meaning as in Subdivision AA of Division 2 of Part III of the Income Tax Assessment Act 1936.
designated ETP means an eligible termination payment (within the meaning of Subdivision AA of Division 2 of Part III of the Income Tax Assessment Act 1936) that is covered by paragraph (a) or (aa) of the definition of eligible termination payment in section 27A of that Act.
employment includes the holding of an office.
ex‑employee:
(a) in relation to the State Bank of South Australia—means a person who is, or has at any time been, the subject of an order under section 19 of the State Bank (Corporatisation) Act 1994 of South Australia and who was employed by that Bank immediately before the order was made; and
(b) in relation to a tax‑exempt designated subsidiary of the State Bank of South Australia—means a person who is, or has at any time been, the subject of an order under section 19 of the State Bank (Corporatisation) Act 1994 of South Australia and who was employed by the designated subsidiary immediately before the order was made.
in consequence of the termination of employment has the same meaning as in Subdivision AA of Division 2 of Part III of the Income Tax Assessment Act 1936.
Proclaimed day* means a day to be fixed by Proclamation for the purposes of this definition.
tax‑exempt designated subsidiary of the State Bank of South Australia means a designated subsidiary of the State Bank of South Australia that is exempt from tax.
*The day proclaimed was 1 July 1994 (see Gazette No. S202 of 1 June 1995).