Taxation (FBT, SSCWT and Remedial Matters) Act 2000

1: Title
This Act is the Taxation (FBT, SSCWT and Remedial Matters) Act 2000.
2: Commencement
This Act comes into force on the date on which it receives the Royal assent.
1: Amendments to Income Tax Act 1994
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
3: Income Tax Act 1994 Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
4: Certain compensation, benefits, and other payments are gross income
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
5: Meaning of term
dividends Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
6: Interpretation
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
7: What constitutes an interest in a foreign investment fund
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
8: Use of alternative methods
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
9: Deemed rate of return method of calculation
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
10: Treatment of circumstances of entry into or exit from foreign investment fund regime
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
11: Meaning of
fringe benefit Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
12: Election whether fringe benefit or dividend
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
13: Value of fringe benefit
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
14: Taxable value of fringe benefit
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
15: Exemption for minor unclassified benefits
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
16: Adjustment on amalgamation to exemption for minor unclassified benefits
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
17: Application of other provisions to fringe benefit tax
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
18: Use of test period to establish private use of motor vehicle
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
19: New headings and
sections CL 3 to CL 21 Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
20: New
sections EN 6 and EN 7 Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
21: Value of motor vehicle acquired from associated person
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
22: Credits and debits arising to branch equivalent tax account of person
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
23: Replacement of
Part ND Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
24: Specified superannuation contribution withholding tax imposed
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
25: New
section NE 2AA Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
26: Specified superannuation contribution withholding tax to be deducted
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
27: Tax deemed for certain purposes to have been received by superannuation fund
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
28: New
subpart EA Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
29: Definitions
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
30: References to income years in particular provisions
Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
31: Schedule 1 Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
32: Schedule 2 Part 1 repealed 1 April 2005 YA 2 Income Tax Act 2004
2: Tax Administration Act 1994
33: Tax Administration Act 1994
This Part amends the Tax Administration Act 1994
34: Interpretation
1: In section 3(1) employer sections 47, 120S of this Act section 47
2: In section 3(4)(b) Sections 93, 120S Sections 93
3: In section 3(4)(b) section ND 4 section ND 14
4: Subsections (1) (2)
a: on and after 1 April 2001, for an employer who pays fringe benefit tax on an annual basis; and
b: to the 2001-2002 and subsequent income years, for an employer who pays fringe benefit tax on an income year basis.
5: Subsection (3)
35: New sections 32A to 32C inserted
1: After section 32
32A: Records to be provided by employer who contributes to superannuation fund
1: Upon the request of a member or a trustee of a superannuation fund acting on a member's behalf, a member's employer, or a member's past employer, must provide the member or trustee with a record of all specified superannuation contributions made by the employer on the member's behalf in each of the 4 income years before the income year in which a withdrawal, being one to which section CL 4 of the Income Tax Act 1994
2: A request must be made in writing.
3: A person who receives a request must provide the information requested, to the extent it is held or can be accessed, no later than 20 working days after the date on which the request is made.
4: When calculating the superannuation fund's gross income under section CL 4 of the Income Tax Act 1994
32B: Certification requirements for withdrawals subject to
section CL 4 of Income Tax Act 1994
1: The trustee of a superannuation fund may request the following information from a member or a member's employer, or a member's past employer, in respect of an income year or part of an income year:
a: the amount of specified superannuation contributions made by an employer:
b: the amount of specified superannuation contributions that have been subject to specified superannuation contribution withholding tax at the rate specified in Schedule 1, Part A, clause 10(a)
c: the amount of specified superannuation contributions that have been treated as salary or wages under section NE 2A
d: the taxable income that the member derived in the 4 income years before the income year in which a withdrawal is made:
e: evidence to support an application for a withdrawal that is necessary to alleviate significant financial hardship:
f: the date on which a member ceases employment:
g: whether a member was employed for less than 2 years:
h: whether a member is employed for 30 hours per week or less:
i: whether a member has reduced their working hours because the member is nearing full retirement:
j: whether a member has stopped contributing to a superannuation fund:
k: whether a member's employer has stopped making specified superannuation contributions to a superannuation fund on the member's behalf:
l: whether specified superannuation contributions made to a superannuation fund have increased in accordance with a trust deed or a contract, or an amendment to a trust deed or a contract, in existence before 1 April 2000, and if so, the extent of the increase:
m: any other information required to determine the superannuation fund's gross income under section CL 4 of the Income Tax Act 1994
2: A request must be made in writing.
3: A person who receives a request must provide the information requested, to the extent it is held or can be accessed, no later than 20 working days after the date on which the request is made.
4: When calculating the superannuation fund's gross income under section CL 4 of the Income Tax Act 1994
32C: Certification requirements for transfers from superannuation funds
1: The trustee of a superannuation fund that receives an amount from another superannuation fund may request the following information from the trustee of the transferor fund in respect of an income year or part of an income year:
a: amounts transferred that, if withdrawn, would be subject to any one of paragraphs (a) to (d) of section CL 3(1) of the Income Tax Act 1994
b: amounts transferred that are employer contributions to superannuation savings:
c: any information previously supplied to the transferor fund by a superannuation fund from which a member has transferred:
d: any other information required to determine the transferee fund's gross income under section CL 4 of the Income Tax Act 1994
2: A request must be made in writing.
3: A trustee who receives a request must provide the information requested, to the extent it is held or can be accessed, no later than 40 working days after the date on which the request is made.
4: When calculating the transferee superannuation fund's gross income under section CL 4 of the Income Tax Act 1994
2: Subsection (1)
36: Special returns by taxpayers affected by reduced deductions under
Income Tax Act 1994
1: In section 44A(1) net income taxable income
2: Subsection (1)
37: Definitions
1: In section 120C(1) date interest starts subparagraph (i)
b: for overpaid tax, other than GST or fringe benefit tax for the final quarter of an income year, means the later of the following days— .
2: In section 120C(1), at the end of paragraph (c)(iii) date interest starts made: made; and
d: for overpaid tax, being fringe benefit tax for the final quarter of an income year, means the later of 31 May next following the end of the final quarter and the date on which the return for the final quarter is filed.
3: Subsections (1) (2)
38: Amount in nature of interest to be added to fringe benefit tax paid on annual or income year basis
1: Section 120S
2: Subsection (1)
a: on 1 April 2001, for an employer who pays fringe benefit tax on an annual basis; and
b: to the 2001-2002 income year, for an employer who pays fringe benefit tax on an income year basis.
39: New 165AA inserted
1: After section 165
165AA: Recovery of tax paid by superannuation fund
1: If a withdrawal is made in respect of a person's membership in a superannuation fund and the withdrawal is one to which section CL 4 of the Income Tax Act 1994 subsection (2)
2: The formula is: tax rate x gross income where tax rate is the basic rate of income tax stated in Schedule 1, Part A, clause 4 of the Income Tax Act 1994 gross income is the amount of gross income of the superannuation fund under section CL 4 of the Income Tax Act 1994
3: A trustee of a superannuation fund may recover an amount from the member or the other person making the withdrawal irrespective of the superannuation fund's trust deed.
4: For the purpose of section 165 section CL 4 of the Income Tax Act 1994
2: Subsection (1)
40: Obligation to pay tax on foreign investment fund income able to be suspended
1: In section 183(2) 120S 120T
2: Subsection (1)
3: Amendments to Goods and Services Tax Act 1985
41: Goods and Services Tax Act 1985
This Part amends the Goods and Services Tax Act 1985
42: Adjustments
1: In section 21(4) section ND 2 or section ND 3 or section ND 4 any one of sections ND 9, ND 10, ND 13 or ND 14
2: Subsection (1)