Source: https://www.legislation.gov.au/Details/C2009B00012
Timestamp: 2019-04-20 03:33:00
Document Index: 391981173

Matched Legal Cases: ['art 2', 'art 3', 'art 1', 'art 2', 'art 3', 'art 1', 'art 2', 'art 3', 'art 4', 'art 5', 'art 6', 'art 2', 'art 1', 'art 3', 'art 3', 'art 3', 'art 3', 'art 2', 'art 3', 'art 4', 'art 5', 'art 2', 'art 6']

Details: C2009B00012
- C2009B00012
Schedule 1—PAYG instalment reduction for small businesses etc. 2
Taxation Administration Act 1953 2
Part 2—Sunsetting on 1 July 2013 2
Part 3—Application 2
Schedule 2—Unclaimed superannuation money 2
Part 1—Amendment of the Superannuation (Unclaimed Money and Lost Members) Act 1999 2
Part 2—Other amendments 2
Financial Transaction Reports Act 1988 2
Small Superannuation Accounts Act 1995 2
Superannuation (Government Co‑contribution for Low Income Earners) Act 2003 2
Superannuation Guarantee (Administration) Act 1992 2
Part 3—Application, transitional and saving provisions 2
Schedule 3—Reforms to income tests 2
Part 1—Key concepts 2
Part 2—Amendment of payment summary provisions 2
Part 3—Amendment of income tests 2
A New Tax System (Family Assistance) Act 1999 2
A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999 2
Child Support (Assessment) Act 1989 2
Higher Education Support Act 2003 2
Medicare Levy Act 1986 2
Social Security Act 1991 2
Student Assistance Act 1973 2
Veterans’ Entitlements Act 1986 2
Part 4—Exclusion of certain employer superannuation contributions from test for exceptional circumstances relief payment 2
Farm Household Support Act 1992 2
Part 5—Dependency rebates 2
Part 6—Application 2
This Act may be cited as the Tax Laws Amendment (2009 Measures No. 1) Act 2009.
Schedule 1—PAYG instalment reduction for small businesses etc.
1 Before subsection 45‑400(1) in Schedule 1
2 Before subsection 45‑400(2) in Schedule 1
Working out amount of instalment
3 At the end of section 45‑400 in Schedule 1
Amount reduced in circumstances specified by regulations
(3) In the circumstances (if any) specified by the regulations, the amount worked out in accordance with the table in subsection (2) is reduced by the amount worked out under the regulations.
(4) Without limiting subsection (3), the regulations may specify circumstances by:
(a) specifying the particular *instalment quarter to which the reduction applies; or
(b) specifying the kind of payers to whom the reduction applies.
(5) In working out, under subsection (2), the amount of your instalment for an *instalment quarter in an income year, assume that there had not been any reductions under subsection (3) for earlier instalment quarters in that year.
December 2008 reduction for small business entities
(6) If 31 December 2008 occurs in an *instalment quarter in an income year, the amount worked out in accordance with the table in subsection (2) for the instalment quarter is reduced by 20% if you are:
(a) a *small business entity for the 2007‑08 or 2008‑09 income year; or
(b) a partner of a partnership that is a small business entity for the 2007‑08 or 2008‑09 income year; or
(c) a beneficiary of a trust that is a small business entity for the 2007‑08 or 2008‑09 income year.
(7) In working out, under subsection (2), the amount of your instalment for a later *instalment quarter in the income year, assume that the reduction under subsection (6) had not happened.
Part 2—Sunsetting on 1 July 2013
4 Subsections 45‑400(6) and (7) in Schedule 1
The amendments made by Part 1 of this Schedule apply in relation to instalment quarters in:
Schedule 2—Unclaimed superannuation money
1 Section 7 (simplified outline)
Omit “At the end of each half‑year”, substitute “At the times determined by the Commissioner”.
2 Section 7 (simplified outline)
Omit “On request by a person entitled to receive that money, the Commissioner must pay it to that person.”, substitute “If the Commissioner is satisfied he or she has received such a payment in respect of a person, the Commissioner must pay the amount he or she has received to the person, to a fund identified by the person or, if the person has died, to the person’s death beneficiaries or legal personal representative.”.
3 Section 7 (simplified outline)
4 Section 7 (simplified outline)
After “if the member has died, to the member’s”, insert “death beneficiaries or”.
5 Section 7 (simplified outline)
If the Commissioner is satisfied he or she has received a payment under this Act for such a member, the Commissioner must pay the amount he or she has received (and interest, in some cases) to the member, to a fund identified by the member or, if the member has died, to the member’s legal personal representative.
7 Section 8 (definition of scheduled statement day)
(a) in relation to a statement required by Part 3—section 15A; and
9 Before section 11
Omit “in relation to a fund”, substitute “for a fund”.
(a) days as being unclaimed money days for the purposes of this Part; and
(b) for each unclaimed money day—a day (the scheduled statement day) by the end of which a statement required by this Part, in relation to the unclaimed money day, is to be given to the Commissioner.
12 Subsections 16(1) to (6)
13 Subsection 16(7)
Note: The following heading to subsection 16(7) is inserted “Certain former temporary residents”.
14 Subsection 16(7) (note)
Omit “holders of temporary visas”, substitute “temporary residents”.
15 After section 16
16 Subsections 17(1) and (2)
Note: The heading to section 17 is altered by omitting “to Commissioner”.
17 Subsection 17(2A)
Omit “Subsection (2) does”, substitute “Subsections (1C) to (2AA) do”.
18 Subsections 17(3), (5) and (6)
19 After section 17
20 Subsections 18(2) and (3)
21 Subsection 18(4) (at the end of table item 3, column headed “Effect of provision”)
Add “, as in force just before the commencement of Schedule 5 to the Tax Laws Amendment (2009 Measures No. 1) Act 2009”.
22 Subsection 18(5)
Omit “provisions corresponding to the provisions, and with the effects, set out in the following table:”, substitute:
24 Paragraph 19(1)(a)
Omit “this Part”, substitute “Part 3”.
25 Paragraph 19(1)(b)
Omit “member”, substitute “person”.
26 At the end of subsection 19(1)
; and (c) amounts paid to the Commissioner under section 20F (unclaimed superannuation of former temporary residents); and
(d) each person in respect of whom there is an amount referred to in paragraph (c) of this subsection.
27 Section 20A (simplified outline)
28 After section 20A
Note: The regulations may prescribe a visa by reference to a class of visas: see subsection 13(3) of the Legislative Instruments Act 2003.
29 Paragraphs 20C(1)(b) to (d)
30 Subparagraph 20E(1)(b)(iii)
After “the Income Tax Assessment Act 1997,”, insert “Part 3AA of this Act,”.
31 Paragraph 20L(1)(a)
Omit “section 20H”, substitute “this Part”.
32 Paragraph 20L(1)(b)
Omit “that section”, substitute “this Part”.
33 Subsection 23(1) (note)
34 At the end of subsection 23(1)
35 Subsection 23(5)
36 Before paragraph 25(1)(a)
37 Subsection 26(2)
Omit “approved form”, substitute “form approved by a State or Territory authority”.
38 Section 32 (note 1)
Omit “, 37”.
40 At the end of subsection 46(4)
Note 3: See also section 288‑35 in Schedule 1 to the Taxation Administration Act 1953.
41 At the end of subsection 48(5)
42 Paragraph 18(4B)(ca)
Omit “section 17 or 18”, substitute “Part 3 or 3A”.
43 At the end of Subdivision 301‑C
301‑125 Unclaimed money payments by the Commissioner
For the purposes of this Subdivision, treat a *superannuation lump sum paid by the Commissioner under subsection 17(2) or section 20H of the Superannuation (Unclaimed Money and Lost Members) Act 1999 as if it were paid from a *superannuation plan.
44 Paragraph 306‑15(1)(d)
Omit “for the *superannuation plan”, substitute “, for the superannuation plan from which the benefit is paid,”.
45 At the end of subsection 306‑15(1)
Note: To work out your untaxed plan cap amount in relation to an unclaimed money payment from the Commissioner, see subsection 307‑350(2B).
46 Subsection 307‑5(1) (table item 5, column 2)
Omit “section 17 or 18”, substitute “subsection 17(1) or (2), section 18”.
47 Subsection 307‑5(1) (table item 5, column 3)
Omit “section 17, 18”, substitute “subsection 17(1) or (2) or section 18”.
48 Paragraph 307‑120(2)(e)
After “payment under”, insert “subsection 17(2) or”.
49 Section 307‑142
307‑142 Components of certain unclaimed money payments
(1) This section explains how to work out the *tax free component, and the *taxable component, of a *superannuation benefit that is a payment by the Commissioner under subsection 17(2) or section 20H of the Superannuation (Unclaimed Money and Lost Members) Act 1999 in respect of a person.
(2) Work out the *tax free component as follows:
Step 1. Work out the amount (the unclaimed amount) (or amounts), set out in column 1 of the table in subsection (3), to which the *superannuation benefit is attributable.
Note: A payment made under subsection 17(2) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 is attributable to a single unclaimed amount set out in item 1 or 2 of the table.
A payment under section 20H of that Act may be attributable to more than one unclaimed amount.
Step 2. Assume that the unclaimed amount (or each unclaimed amount), instead of being paid to the Commissioner, had been paid to the person as the payment (the claimed equivalent) set out in column 2 of the table.
Step 3. The *tax free component of the *superannuation benefit consists of so much of the superannuation benefit as is attributable to the amount set out in column 3 of the table for the claimed equivalent (or as is attributable to the amounts set out in that column for the claimed equivalents).
(3) This is the table mentioned in subsection (2):
Claimed equivalent
Tax free component of claimed equivalent
an amount paid, on or after 1 July 2007, to the Commissioner under subsection 17(1) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 in respect of the person
an amount paid, before 1 July 2007, to the Commissioner under subsection 17(1) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 in respect of the person
an eligible termination payment (within the meaning of subsection 27A(1) of the Income Tax Assessment Act 1936, as in force just before 1 July 2007)
the total of the components, of that eligible termination payment, referred to in subsection 307‑225(2) of this Act
an amount paid to the Commissioner under subsection 20F(1) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 in respect of the person (other than an amount referred to in section 65AA of the Superannuation Guarantee (Administration) Act 1992)
Note 1: Section 65AA of the Superannuation Guarantee (Administration) Act 1992 requires certain shortfall components to be treated as amounts paid to the Commissioner under subsection 20F(1) of the Superannuation (Unclaimed Money and Lost Members) Act 1999.
The effect of excluding such shortfall components from item 3 of the table in this subsection is that the taxable component includes so much of the superannuation benefit as is attributable to such a shortfall component.
Note 2: The table in this subsection does not cover interest paid by the Commissioner under subsection 20H(2A) of the Superannuation (Unclaimed Money and Lost Members) Act 1999.
The effect of this is that the taxable component includes so much of the superannuation benefit as is attributable to such interest.
(4) The *taxable component is so much (if any) of the *superannuation benefit as is not the *tax free component.
50 At the end of subsection 307‑145(1)
Note: This section does not apply to an unclaimed money payment.
51 Section 307‑300
307‑300 Certain unclaimed money payments
(1) This section explains how to work out the *element taxed in the fund, and the *element untaxed in the fund, of the *taxable component of a *superannuation benefit that is a payment by the Commissioner under subsection 17(2) or section 20H of the Superannuation (Unclaimed Money and Lost Members) Act 1999.
(2) Work out the element taxed in the fund as follows:
Step 1. Work out the amount (the unclaimed amount) (or amounts), set out in column 1 of the table in subsection (3), to which the *taxable component is attributable.
Step 3. The element taxed in the fund of the *taxable component consists of so much of the taxable component as is attributable to the amount set out in column 3 of the table for the claimed equivalent (or as is attributable to the amounts set out in that column for the claimed equivalents).
Taxed element of claimed equivalent
the taxed element of the post‑June 83 component of that eligible termination payment under Subdivision AA of Division 2 of Part III of the Income Tax Assessment Act 1936, as in force just before 1 July 2007
The effect of excluding such shortfall components from item 3 of the table in this subsection is that the element untaxed in the fund includes so much of the superannuation benefit as is attributable to such a shortfall component.
The effect of this is that the element untaxed in the fund of the taxable component includes so much of the superannuation benefit as is attributable to such interest.
(4) The element untaxed in the fund of the *taxable component is so much (if any) of the taxable component as is not the element taxed in the fund.
52 After subsection 307‑350(2A)
(2B) For the purposes of the application of this section in relation to *superannuation lump sums paid by the Commissioner under subsection 17(2) and section 20H of the Superannuation (Unclaimed Money and Lost Members) Act 1999, treat all such lump sums as if they were paid from a single *superannuation plan.
54 Section 14 (simplified outline)
• The balance of the amount standing to the credit of an individual’s account may be debited from the Special Account if:
55 Section 62 (simplified outline)
56 Paragraph 67A(1)(b)
Note: The heading to section 67A is altered by omitting “permanent departure from Australia” and substituting “former temporary resident”.
57 Subsection 67A(6)
59 Section 56 (definition of eligible temporary resident visa)
60 Subsection 65(1)
After “section”, insert “65AA,”.
61 After section 65
62 Section 65A
Omit “The Commissioner must”, substitute “Except in a case covered by section 65AA, the Commissioner must”.
63 Sections 66 and 67
Omit “If”, substitute “Except in a case covered by section 65AA, if”.
64 Subsection 8AAB(5) (after table item 13A)
65 Subsection 15‑10(2) in Schedule 1
After “12‑FA,”, insert “12‑FAA,”.
66 Subsection 250‑10(2) in Schedule 1 (after table item 67)
payment of unclaimed money to the Commissioner
67 Unclaimed money days
(1) An unclaimed money day, specified by the Commissioner under paragraph 15A(a) of the Superannuation (Unclaimed Money and Lost Members) Act 1999, must be a day that occurs on or after 1 July 2009.
(2) Despite the amendments of sections 16, 17 and 18 of the Superannuation (Unclaimed Money and Lost Members) Act 1999 made by this Schedule, those sections, as in force just before the commencement of this Schedule, continue to apply, from that commencement, in relation to half‑years ending before 1 July 2009.
68 Errors or omissions in statements
Section 16A of the Superannuation (Unclaimed Money and Lost Members) Act 1999, as inserted by this Schedule, does not apply in relation to statements given to the Commissioner under section 16 of that Act as in force just before the commencement of this Schedule.
69 Payments made before commencement
(1) To avoid doubt, a reference in a law of the Commonwealth to a payment made under subsection 17(1) or (2) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 includes a reference to a payment made under that subsection as in force before the commencement of this Schedule.
(2) However, sections 17A, 18A, 18B and 18C of that Act, as inserted by this Schedule, do not apply in relation to such a payment.
70 Saving—regulations
(1) If, just before the commencement of this Schedule, regulations made for the purposes of subparagraph 20C(1)(b)(i) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 were in force, the regulations have effect, from that commencement, as if they had been made for the purposes of subsection 20AA(2) of that Act, as inserted by this Schedule.
(2) If, just before the commencement of this Schedule, regulations made for the purposes of paragraph 20L(4)(a) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 were in force, the regulations have effect, from that commencement, as if they had also been made for the purposes of paragraph 18B(4)(a) of that Act, as inserted by this Schedule.
71 Application—the Superannuation (Government Co‑contribution for Low Income Earners) Act 2003
The amendment of section 6 of the Superannuation (Government Co‑contribution for Low Income Earners) Act 2003 made by this Schedule applies in relation to:
(a) the 2009‑10 income year; and
Schedule 3—Reforms to income tests
adjusted fringe benefits total of a taxpayer for a year of income is the amount worked out using the formula:
FBT rate is the rate of tax set by the Fringe Benefits Tax Act 1986 for the FBT year (as defined in the Fringe Benefits Tax Assessment Act 1986) beginning on the 1 April just before the start of the year of income.
(a) the individual’s taxable income for the year of income; and
(b) the individual’s reportable superannuation contributions for the year of income; and
(c) the individual’s total net investment loss for the year of income; and
(d) the individual’s adjusted fringe benefits total for the year of income.
3 Subsection 6(1) (definition of reportable fringe benefits total)
financial investment includes the following:
(a) a *share in a company;
(b) an interest in a managed investment scheme (within the meaning of the Corporations Act 2001);
(c) a *forestry interest in a *forestry managed investment scheme;
(d) a right or option in respect of an investment referred to in paragraph (a), (b) or (c);
(e) an investment of a like nature to any of those referred to in paragraphs (a) to (d).
income for surcharge purposes, for a person and an income year, means the sum of the following:
(a) the person’s taxable income for the income year (disregarding subsection 271‑105(1) of Schedule 2F to the Income Tax Assessment Act 1936);
(b) the person’s *reportable fringe benefits total (if any) for the income year;
(c) the person’s *reportable superannuation contributions for the income year;
(d) the person’s *total net investment loss for the income year;
less the amount mentioned in subsection 301‑20(3) for the person for the income year if the person is entitled to a tax offset under subsection 301‑20(2) for the income year.
reportable employer superannuation contribution has the meaning given by section 16‑182 in Schedule 1 to the Taxation Administration Act 1953.
(b) the individual’s deductions (if any) under Subdivision 290‑C for the income year.
total net investment loss of an individual for an income year means the sum of:
(a) the amount (if any) by which the individual’s deductions for the income year that are attributable to *financial investments exceed the individual’s gross income for that year from those investments; and
(b) the amount (if any) by which the individual’s deductions for the income year that are attributable to rental property exceed the individual’s gross income for that year from rental property.
11 At the end of Subdivision 16‑C in Schedule 1
16‑182 Definition of reportable employer superannuation contribution
(1) A reportable employer superannuation contribution, for an individual for an income year, is an amount contributed:
(a) by an employer of the individual, or an *associate of the employer, for the individual’s benefit in respect of the income year; and
(b) to a *superannuation fund or an *RSA;
to the extent that either or both of the following paragraphs apply:
(c) the individual has or has had, or might reasonably be expected to have or have had, the capacity to influence the size of the amount;
(d) the individual has or has had, or might reasonably be expected to have or have had, the capacity to influence the way the amount is contributed so that his or her assessable income is reduced.
(2) However, an amount is not a reportable employer superannuation contribution to the extent that it is included in the individual’s assessable income for the income year.
(3) For the purposes of this section, employer has the expanded meaning given by section 12 of the Superannuation Guarantee (Administration) Act 1992 (assuming that subsection 12(11) of that Act had not been enacted).
(4) For the purposes of this section, disregard whether any *superannuation benefits arising from a contribution are payable to a *SIS dependant of the individual if the individual dies before or after becoming entitled to receive the benefits.
Part 2—Amendment of payment summary provisions
12 At the end of subsection 16‑153(2) in Schedule 1
; or (d) the entity made *reportable employer superannuation contributions in respect of a person’s employment.
Note: The heading to section 16‑153 in Schedule 1 is altered by omitting “about withholding payments and reportable fringe benefits”.
13 Subparagraph 16‑153(3)(b)(i) in Schedule 1
Omit “and *reportable fringe‑benefit amounts”, substitute “, *reportable fringe‑benefit amounts and *reportable employer superannuation contributions”.
14 At the end of subsection 16‑155(1) in Schedule 1
; or (d) the recipient is an individual and *reportable employer superannuation contributions have been made by the payer, in respect of the individual’s employment, during the year.
15 At the end of subsection 16‑155(2) in Schedule 1
; and (c) if paragraph (1)(d) applies—the total of the *reportable employer superannuation contributions, except so much of those contributions as are covered by a previous payment summary given by the payer to the recipient under section 16‑160.
16 At the end of paragraph 16‑160(1)(c) in Schedule 1
17 After paragraph 16‑160(1)(c) in Schedule 1
(d) *reportable employer superannuation contributions made by the payer, in respect of the recipient’s employment, during the financial year;
18 After paragraph 16‑170(1)(e) in Schedule 1
Part 3—Amendment of income tests
19 Paragraph 2(1)(d) of Schedule 3
20 After paragraph 2(1)(e) of Schedule 3
(f) the individual’s reportable superannuation contributions (within the meaning of the Income Tax Assessment Act 1997) for that year;
21 Clause 6 of Schedule 3
23 Subsection 3(1) (definition of reportable fringe benefits total)
24 Subsection 3(1) (definition of taxable income)
26 Paragraph 12(1)(a)
(a) the person’s income for surcharge purposes for the year of income exceeds the singles surcharge threshold for the year of income; and
27 Paragraph 13(1)(a)
(a) the person’s income for surcharge purposes for the year of income exceeds the person’s family surcharge threshold for the year of income; and
28 Paragraphs 15(1)(b) and (c)
(b) the sum of the person’s income for surcharge purposes, and the person’s spouse’s income for surcharge purposes, for the year of income exceeds the person’s family surcharge threshold for the year of income; and
(c) the person’s income for surcharge purposes for the year of income exceeds $17,309.
29 Paragraph 15(2)(a)
Omit “taxable income”, substitute “income for surcharge purposes”.
30 Paragraphs 16(2)(b) and (c)
31 Paragraph 16(3)(b)
(b) the person’s income for surcharge purposes for the year of income exceeds the person’s family surcharge threshold for the year of income.
32 Paragraph 16(5)(a)
33 Subsection 5(1) (definition of net rental property loss)
34 Paragraph 43(1)(d)
(d) the parent’s total net investment loss (within the meaning of the Income Tax Assessment Act 1997) for that year of income;
35 At the end of subsection 43(1)
; (f) the parent’s reportable superannuation contributions (within the meaning of the Income Tax Assessment Act 1997) for that year of income.
36 Paragraph 154‑5(1)(b)
(b) the person’s total net investment loss (within the meaning of the Income Tax Assessment Act 1997) for the income year; and
37 Paragraph 154‑5(1)(d)
(d) the person’s *exempt foreign income for the income year; and
(e) the person’s reportable superannuation contributions (within the meaning of the Income Tax Assessment Act 1997) for the income year.
38 Subsections 154‑5(2) and (3)
39 Clause 1 of Schedule 1 (definition of rental property loss)
40 Subsection 160AAAA(3)
Omit “taxpayer has a taxable income for the year of income”, substitute “taxpayer’s rebate income for the year of income is”.
41 Subsection 160AAAA(4)
(4) If the taxpayer is the spouse of another person, the amount applicable to the taxpayer under subsection (3) is half of the sum of:
(a) the taxpayer’s rebate income for the year of income; and
(b) the taxpayer’s spouse’s rebate income for the year of income (reduced by any amount included in the spouse’s assessable income under section 100); and
(c) any share of the net income of a trust estate to which the taxpayer’s spouse is presently entitled and that is assessed under section 98.
42 Subsection 160AAAB(3)
Omit “has a taxable income”, substitute “has an amount applicable under subsection (4) or (5)”.
43 Subsections 160AAAB(4) and (5)
(4) If the beneficiary is not the spouse of another person, the amount applicable to the beneficiary under subsection (3) is the amount that would be the beneficiary’s rebate income for the year of income if the beneficiary’s taxable income for that year were the beneficiary’s share of the net income of the trust estate.
(5) If the beneficiary is the spouse of another person, the amount applicable to the beneficiary under subsection (3) is half the sum of:
(b) the beneficiary’s spouse’s rebate income for the year of income (reduced by any amount included in the spouse’s assessable income under section 100); and
(c) any share of the net income of a trust estate to which the beneficiary’s spouse is presently entitled and that is assessed under section 98.
44 After paragraph 61‑570(1)(b)
45 At the end of paragraph 61‑580(1)(d)
; (v) your *reportable superannuation contributions for the current year;
46 At the end of subsection 290‑160(2)
; (c) the total of your *reportable employer superannuation contributions for the income year.
47 Paragraph 290‑230(2)(c)
(c) the total of your spouse’s:
(i) assessable income; and
for the income year is less than $13,800; and
49 Subsection 3(1) (definition of reportable fringe benefits total)
50 Subsection 3(2)
51 Subsection 8B(2)
Omit “total of a person’s taxable income and reportable fringe benefits total (if any)”, substitute “person’s income for surcharge purposes”.
Note: The heading to section 8B is altered by omitting “Increase in levy” and substituting “Levy surcharge”.
52 Subsection 8C(3)
Omit “If the total of a person’s taxable income and reportable fringe benefits total (if any) exceeds the family surcharge threshold”, substitute “If the person’s income for surcharge purposes exceeds the person’s family surcharge threshold”.
Note: The heading to section 8C is altered by omitting “Increase in levy” and substituting “Levy surcharge”.
53 Paragraphs 8D(3)(b) and (c)
(b) the sum of the person’s income for surcharge purposes and the person’s spouse’s income for surcharge purposes exceeds the person’s family surcharge threshold; and
(c) the person’s income for surcharge purposes exceeds $17,309.
Note: The heading to section 8D is altered by omitting “Increase in levy” and substituting “Levy surcharge”.
54 Subparagraphs 8D(4)(a)(i) and (ii)
(i) the sum of the person’s income for surcharge purposes and the person’s spouse’s income for surcharge purposes exceeds the person’s family surcharge threshold;
(ii) the person’s income for surcharge purposes exceeds $17,309; or
55 Paragraph 8D(4)(b)
(b) the person’s income for surcharge purposes exceeds the person’s family surcharge threshold, if the person is married for only some of the year of income.
56 Subsection 8D(5)
Note: The heading to section 8E is altered by omitting “Increase in levy” and substituting “Levy surcharge”.
57 Subsection 8F(2)
Omit “family surcharge threshold”, substitute “beneficiary’s family surcharge threshold”.
Note: The heading to section 8F is altered by omitting “Increase in levy” and substituting “Levy surcharge”.
58 Paragraph 8G(2)(b)
(b) the sum of the beneficiary’s trust income and the beneficiary’s spouse’s income for surcharge purposes exceeds the beneficiary’s family surcharge threshold; and
Note: The heading to section 8G is altered by omitting “Increase in levy” and substituting “Levy surcharge”.
59 Subparagraph 8G(3)(a)(i)
(i) the sum of the beneficiary’s trust income and the beneficiary’s spouse’s income for surcharge purposes exceeds the beneficiary’s family surcharge threshold; and
60 Paragraph 8G(3)(b)
61 Subsection 8G(4)
Note: The heading to section 9 is altered by omitting “(other than certain levy increases)”.
62 Subsection 10A(2) (definition of net rental property loss)
63 Subsection 10A(15)
64 Subsection 10B(2) (definition of business)
(b) the provision of professional services; and
(c) the earning of income as a rentier;
but does not include employment (whether or not the employment is remunerated by wages or salary).
65 Subsection 10B(2) (definition of net passive business loss)
66 Subsection 10B(2) (definition of passive business)
67 Subsection 10B(2)
68 Paragraph 10B(3)(e)
Omit “net passive business loss”, substitute “total net investment loss”.
69 Subsection 19AB(2) (definition of rental property loss)
70 Paragraph 1061ZZFA(1)(b)
71 Paragraph 1061ZZFA(1)(d)
(d) the person’s exempt foreign income for the income year; and
72 Subsections 1061ZZFA(2) and (3)
73 Paragraph 1067G‑F10(d)
(d) the parent’s total net investment loss for that year;
(e) the parent’s reportable superannuation contributions (within the meaning of the Income Tax Assessment Act 1997) for that year.
74 Point 1067G‑F10 (note 5)
Note 5: For total net investment loss, see subsection 10B(2).
75 Subpoint 1067G‑F11(4)
Repeal the subpoint.
76 Point 1067G‑F19A
77 Paragraph 1067G‑G9(4)(b)
(b) the reportable superannuation contributions (within the meaning of the Income Tax Assessment Act 1997) of each of the following people for the appropriate tax year:
(ii) each family member of the person.
78 Subpoint 1067G‑G13(1) (formula)
79 Subpoint 1067G‑G13(2) (definition of NPBL (net passive business loss))
80 Subpoint 1067G‑G13(2)
TNIL (total net investment loss) means the sum of the total net investment losses of each of the parents of the claimant/recipient in the appropriate tax year.
81 Paragraph 1071‑3(d)
(d) the person’s total net investment loss (within the meaning of the Income Tax Assessment Act 1997) for that year.
82 Point 1071‑3 (note 4)
83 Point 1071‑8
1071‑8 For the purposes of this Part, a person’s total net investment loss for a particular tax year is the person’s accepted estimate of the amount of that loss for that year.
84 Subsection 3(1) (definition of rental property loss)
85 Paragraph 12ZL(1)(b)
86 Paragraph 12ZL(1)(d)
87 Subsections 12ZL(2) and (3)
88 At the end of subsection 8(1)
; and (c) the total of the person’s reportable employer superannuation contributions (within the meaning of the Income Tax Assessment Act 1997) for the income year.
89 Paragraph 118ZZA‑3(d)
90 Point 118ZZA‑3 (note 4)
91 Point 118ZZA‑7
118ZZA‑7 For the purposes of this Division, a person’s total net investment loss for a particular tax year is the person’s accepted estimate of the amount of that loss for that year.
Part 4—Exclusion of certain employer superannuation contributions from test for exceptional circumstances relief payment
92 At the end of section 24A
Certain superannuation contributions disregarded
(9) For the purposes of calculating a rate referred to in subsection (1) for a person who has not reached pension age, disregard contributions made by the person’s employer to a superannuation fund or RSA for the person’s benefit, other than contributions made by a company or trust if the person is:
(a) an attributable stakeholder of the company or trust; or
(b) an associate under paragraph 1207C(1)(e), (h), (i) or (j) of the Social Security Act 1991 of a person who is an attributable stakeholder of the company or trust.
Note: Those paragraphs of the Social Security Act 1991 cover a relative, a business partner, a spouse or child of a business partner and a trustee of a trust (where the person concerned can benefit from the trust).
attributable stakeholder of a company or trust has the meaning given by section 1207X of the Social Security Act 1991.
pension age has the meaning given by section 23 of the Social Security Act 1991.
RSA has the meaning given by the Retirement Savings Accounts Act 1997.
93 At the end of section 24AA
(11) For the purposes of calculating a rate referred to in subsection (1) for a person who has not reached pension age (within the meaning of section 23 of the Social Security Act 1991), disregard contributions that are disregarded under subsection 24A(9).
Part 5—Dependency rebates
94 Subsection 159J(1AB)
(1AB) A taxpayer is not entitled, in his or her assessment in respect of a year of income, to a rebate under this section in respect of a dependant included in class 1, 2, 5 or 6 in the table in subsection (2) if:
(a) for a dependant included in class 1—the taxpayer’s adjusted taxable income for the year is more than the income limit for family tax benefit (Part B) for the year; or
(b) for a dependant included in class 2, 5 or 6—subsection (1AC) applies to the taxpayer for the year.
(1AC) This subsection applies to a taxpayer for a year of income if the sum of:
(a) the taxpayer’s adjusted taxable income for the year; and
(b) if the taxpayer has a spouse during the year—the spouse’s adjusted taxable income for the year; and
(c) if the taxpayer has a spouse during only part of the year—this amount:
Note: If the taxpayer has a different spouse during different parts of the year, the adjusted taxable income of each spouse will be included under paragraph (c).
95 Subsection 159J(4)
Omit “separate net income derived by the dependant in”, substitute “dependant’s adjusted taxable income for”.
96 Subsection 159J(5)
Omit “a separate net income in”, substitute “an adjusted taxable income for”.
97 Subsection 159J(6)
adjusted taxable income has the same meaning as in the A New Tax System (Family Assistance) Act 1999, except that, for the purposes of this section, clauses 3 and 3A of Schedule 3 to that Act are taken not to have been enacted.
98 Subsection 159J(6)
income limit for family tax benefit (Part B) means the amount specified in subclause 28B(1) of Schedule 1 to the A New Tax System (Family Assistance) Act 1999, as indexed under Part 2 of Schedule 4 to that Act.
99 Subsection 159J(6) (definition of separate net income)
100 Subsection 159L(3B)
(3B) A taxpayer is not entitled, in his or her assessment in respect of a year of income, to a rebate under this section if subsection 159J(1AC) applies to the taxpayer for the year.
101 Subpoint 1067G‑G13(2) (paragraph (b) of the definition of NITML (notional income tax/medicare levy))
Omit “a separate net income within the meaning of section 159J of the Income Tax Assessment Act 1936 in that year”, substitute “an adjusted taxable income within the meaning of the A New Tax System (Family Assistance) Act 1999 in that year”.
Part 6—Application
(1) The amendments made by this Schedule apply in relation to income years starting on or after 1 July 2009.
(2) However, the amendments do not apply in relation to the following:
(a) a claim for baby bonus (within the meaning of the A New Tax System (Family Assistance) Act 1999) if an estimate contained in the claim is for a period beginning before 1 July 2009;
(b) an election to work out a parent’s adjusted taxable income under section 60 of the Child Support (Assessment) Act 1989 if the remaining period (within the meaning of subsection 60(5) of that Act) concerned starts before 1 July 2009;
(c) working out a parent’s real remaining period adjusted taxable income under section 64 of the Child Support (Assessment) Act 1989 in relation to an election covered by paragraph (b) of this subitem.