Source: https://www.legislation.gov.au/Details/C2011A00041
Timestamp: 2019-11-21 03:39:51
Document Index: 418712543

Matched Legal Cases: ['art 1', 'art 2', 'art 3', 'art 1', 'art 1', 'art 2', 'art 3', 'art 4', 'art 5', 'art 6', 'art 7', 'art 8', 'art 9', 'art 10', 'art 11', 'art 12', 'art 13', 'art 14', 'art 15', 'art 16', 'art 17', 'art 18', 'art 19', 'art 20', 'art 21', 'art 22', 'art 23', 'art 24', 'art 25', 'art 26', 'art 27', 'art 28', 'art 29', 'art 30', 'art 31', 'art 1', 'art 3', 'art 11', 'art 20', 'art 27', 'art 2']

Details: C2011A00041
- C2011A00041
Act No. 41 of 2011 as made
Originating Bill: Tax Laws Amendment (2011 Measures No. 2) Bill 2011
C2011A00041
Schedule 1—Deductible gift recipients 5
Part 1—Amendments commencing on 1 January 2011 5
Part 2—Amendments commencing on Royal Assent 6
Part 3—Sunsetting on 1 July 2016 7
Schedule 2—Self managed superannuation funds 8
Schedule 3—Use of TFNs for superannuation purposes 10
Part 1—Amendments commencing on 1 July 2011 10
Retirement Savings Accounts Act 1997 10
Retirement Savings Accounts Act 1997 13
Schedule 4—GST: payments of taxes, fees and charges 16
A New Tax System (Luxury Car Tax) Act 1999 20
Schedule 5—Other amendments 22
Part 1—A New Tax System (Goods and Services Tax) Act 1999 22
Part 2—Approved worker entitlement funds 23
Part 3—Confidentiality of taxpayer Information 27
Division 1—Main amendments 27
Division 2—Amendment contingent on the Human Services Legislation Amendment Act 2011 28
Part 4—Employee share schemes 29
Division 1—Income Tax Assessment Act 1997 29
Division 2—Income Tax (Transitional Provisions) Act 1997 30
Division 3—Minor amendment 31
Part 5—General interest charge 32
Part 6—Deductible gift recipients 38
Division 1—Amendments commencing on Royal Assent 38
Division 2—Amendments commencing on 1 July 2011 39
Division 3—Other amendment 40
Part 7—Section 23AB of the Income Tax Assessment Act 1936 41
Part 8—Definitions and signposts to related material 42
Part 9—Repeal of redundant reference to Papua New Guinea 43
Part 10—Repeal of redundant references to franking 44
Part 11—Correction of cross‑reference in provision about dividend streaming etc. 45
Part 12—Minor changes to provisions about concessional rebates 46
Part 13—Fixing outdated references to Medicare levy 47
Part 14—Repeal of references to previously repealed provisions 48
Part 15—Correction of asterisking of reference to tax debts 49
Part 16—Repeal of outdated provisions about exemption from income tax 50
Part 17—Correction of asterisking of references to quarter 51
Part 18—Inclusion of Commissioner’s discretion to extend main residence exemption from CGT 52
Part 19—Nomination of controllers of discretionary trust 53
Part 20—Definitions mainly relevant to Subdivision 165‑F of the Income Tax Assessment Act 1997 57
Part 21—Removal of definition from imputation provisions 63
Part 22—Correction of outdated references to virtual PST assets 65
Part 23—Repeal of spent provisions about land transport facilities borrowings 66
Part 24—Prevention of double counting for direct value shifts 67
Part 25—Ineligible income tax remission decisions 69
Part 26—Correction of references to chains of fixed trusts 70
Part 27—Gender‑specific language 71
Part 28—Misdescribed amendments 87
Tax Laws Amendment (2010 Measures No. 1) Act 2010 87
Tax Laws Amendment (Transfer of Provisions) Act 2010 87
Part 29—References to Schedules 88
Family Trust Distribution Tax (Primary Liability) Act 1998 88
Family Trust Distribution Tax (Secondary Liability) Act 1998 88
Fringe Benefits Tax Assessment Act 1986 88
Income Tax (Transitional Provisions) Act 1997 90
Medicare Levy Act 1986 90
Superannuation Contributions Tax (Assessment and Collection) Act 1997 91
Part 30—References to taxation laws 92
Taxation Administration Act 1953 92
Part 31—Other amendments 94
Income Tax Assessment Act 1936 94
Income Tax (Transitional Provisions) Act 1997 95
Superannuation Legislation Amendment Act 2010 95
Taxation (Interest on Overpayments and Early Payments) Act 1983 96
Tax Laws Amendment (2007 Measures No. 5) Act 2007 96
Part 1—Amendments commencing on 1 January 2011
1 Section 30‑90 (cell at table item 10.2.2, column headed “Fund, authority or institution”)
2 Section 30‑90 (table item 10.2.3)
3 Section 30‑315 (cell at table item 53A, column without a heading)
4 Subsection 30‑25(2) (at the end of the table)
5 Section 30‑315 (after table item 30AA)
6 Section 30‑315 (after table item 97)
Part 3—Sunsetting on 1 July 2016
7 Subsection 30‑25(2) (table items 2.2.39 and 2.2.40)
8 Section 30‑315 (table items 30A and 97AA)
62A Self managed superannuation funds—investment in collectables and personal use assets
(a) artwork (within the meaning of the Income Tax Assessment Act 1997); or
Note: The regulations may prescribe penalties of not more than 10 penalty units for offences against the regulations. See paragraph 353(1)(d).
(1) The amendment made by item 1 of this Schedule applies to investments made before, on or after the commencement of this item.
(2) To avoid doubt, regulations made for the purposes of section 62A of the Superannuation Industry (Supervision) Act 1993, inserted by item 1 of this Schedule, may be expressed to apply to only some of those investments.
(3) This section does not affect the operation of subclauses 7.1 and 7.1A of National Privacy Principle 7 in Schedule 3 to the Privacy Act 1988.
Note: The following heading to subsection 299H(6) is inserted “Offences”.
Note: The following heading to subsection 299J(6) is inserted “Offences”.
Note: The following heading to subsection 299K(6) is inserted “Offences”.
Note: The following heading to subsection 299L(6) is inserted “Offences”.
Note: The heading to section 137A is altered by adding at the end “or for consolidation”.
Note: The heading to section 299LA is altered by adding at the end “or for consolidation”.
(a) made for the purposes of subsection 137A(2) of the Retirement Savings Accounts Act 1997; and
(a) made for the purposes of subsection 299LA(2) of the Superannuation Industry (Supervision) Act 1993; and
1 Subparagraph 13‑20(2)(ba)(i)
81‑1 What this Division is about
81‑5 Effect of payment of tax
(1) A payment, or the discharging of a liability to make a payment, is not the provision of *consideration to the extent the payment is an *Australian tax.
(2) However, a payment you make, or a discharging of your liability to make a payment, is treated as the provision of *consideration to the extent the payment is an *Australian tax that is, or is of a kind, prescribed by the regulations.
(3) For the purposes of subsection (2), the *consideration is taken to be provided to the entity to which the tax is payable, for a supply that the entity makes to you.
81‑10 Effect of payment of certain fees and charges
Fees or charges relating to information and record‑keeping etc.
81‑15 Other fees and charges that do not constitute consideration
81‑20 Division has effect despite section 9‑15
This Division has effect despite section 9‑15 (which is about consideration).
81‑25 Date of effect of regulations
Despite subsection 12(2) of the Legislative Instruments Act 2003, regulations made for the purposes of subsection 81‑5(2), 81‑10(2) or section 81‑15 may be expressed to take effect from a date before the regulations are registered under that Act.
3 Subsection 82‑10(3)
(a) an *Australian tax prescribed by regulations made for the purposes of subsection 81‑5(2); or
(b) an *Australian fee or charge prescribed by regulations made for the purposes of subsection 81‑10(2);
4 Subparagraph 117‑5(1)(ba)(i)
6 Section 195‑1
7 Section 195‑1 (definition of Australian tax, fee or charge)
8 Section 195‑1 (note at the end of the definition of connected with Australia)
Omit “sections 81‑10 and 96‑5”, substitute “section 96‑5”.
9 Section 195‑1 (note at the end of the definition of consideration)
After “81‑5,”, insert “81‑10, 81‑15,”.
10 Section 195‑1 (note at the end of the definition of taxable supply)
Omit “81‑10,”.
11 Paragraph 5‑20(1)(b)
12 Paragraph 5‑20(6)(b)
13 Section 27‑1
14 Section 27‑1
15 Section 27‑1 (definition of Australian tax, fee or charge)
1 Subparagraph 153‑50(1)(d)(i)
Note: This item amends a reference to “agent’s” that was not amended when Schedule 3 to the Tax Laws Amendment (2009 GST Administration Measures) Act 2010 replaced references to “agent” in section 153‑50 of the A New Tax System (Goods and Services Tax) Act 1999 with references to “intermediary”.
2 Section 195‑1 (definition of member)
3 Section 195‑1 (paragraph (b) of the definition of member)
(b) the fund has applied for the endorsement in accordance with Division 426 in Schedule 1 to the Taxation Administration Act 1953.
(b) the entity has applied for the endorsement in accordance with Division 426 in Schedule 1 to the Taxation Administration Act 1953.
Omit “Before the Governor‑General makes a regulation under paragraph (2)(a) prescribing a fund for the purposes of that paragraph, the Commissioner must be satisfied that”, substitute “A fund is entitled to be endorsed as an approved worker entitlement fund if”.
9 Paragraph 126‑130(2)(b)
(i) the fund endorsed as an approved worker entitlement fund under subsection 58PB(3) of the Fringe Benefits Tax Assessment Act 1986; or
10 After paragraph 426‑5(b) in Schedule 1
(i) a fund as an approved worker entitlement fund under subsection 58PB(3) of the Fringe Benefits Tax Assessment Act 1986; or
11 Section 426‑55 in Schedule 1 (paragraph (b) of the note)
12 After paragraph 426‑65(1)(b) in Schedule 1
(ba) as an approved worker entitlement fund under subsection 58PB(3) of the Fringe Benefits Tax Assessment Act 1986;
(bb) for the operation of an approved worker entitlement fund under subsection 58PB(3A) of the Fringe Benefits Tax Assessment Act 1986;
(1) This item applies to a fund that, just before the commencement of this item, was an approved worker entitlement fund under subsection 58PB(2) of the Fringe Benefits Tax Assessment Act 1986.
(3) To avoid doubt, subitem (2) does not prevent the Commissioner from revoking that endorsement at a later time under section 426‑55 in Schedule 1 to the Taxation Administration Act 1953.
(4) Paragraph 58PB(4)(f) of the Fringe Benefits Tax Assessment Act 1986, as added by this Part, does not apply to the fund before the end of the period of 6 months starting on the day this item commences.
(a) may enter, but is not required to enter, in the Australian Business Register under subsection 426‑65(1) in Schedule 1 to the Taxation Administration Act 1953 a statement that:
(ii) the ABN (within the meaning of the A New Tax System (Australian Business Number) Act 1999) of the fund, or of the entity that operates the fund; and
15 Subsection 6(1) (definition of Employment Department)
16 Subsection 6(1) (definition of Employment Minister)
17 Subsection 6(1) (definition of Employment Secretary)
(a) deals with matters arising under Chapter 2 of the Fair Work Act 2009; and
(b) is administered by the *Employment Minister.
21 Subsection 355‑65(2) in Schedule 1 (cell at table item 4, column headed “The record is made for or the disclosure is to ...”)
22 Subsection 355‑65(2) in Schedule 1 (cell at table item 6, column headed “The record is made for or the disclosure is to ...”)
23 Subsection 355‑65(5) in Schedule 1 (paragraph (b) of the cell at table item 2, column headed “and the record or disclosure ...”)
24 Subsection 355‑65(2) in Schedule 1 (table item 6, column headed “The record is made for or the disclosure is to ...”)
25 Subsection 104‑75(6) (note)
Note: There are also exceptions for employee share trusts: see sections 130‑80 and 130‑90.
26 At the end of subsection 104‑85(6)
Note: There is also an exception for employee share trusts: see section 130‑90.
27 Before subsection 130‑90(1)
(1A) Disregard any *capital gain or *capital loss made by an *employee share trust to the extent that it results from a *CGT event, if:
(c) Subdivision 83A‑B or 83A‑C (about employee share schemes) applies to the ESS interest.
28 Subsection 130‑90(2)
30 After subsection 83A‑5(2)
(2A) To avoid doubt, for the purposes of subparagraph (2)(a)(i), section 139CDA of the Income Tax Assessment Act 1936 applied to the interest at the pre‑Division 83A time if the taxpayer in question first became or becomes an employee, as mentioned in that section, before the cessation time for the interest. It does not matter whether the employee so became or becomes an employee before, on or after the pre‑Division 83A time.
31 At the end of section 83A‑15
Division 125—Demerger relief
125‑B Consequences for owners of interests
Subdivision 125‑B—Consequences for owners of interests
125‑75 Employee share schemes
Despite the amendment of section 125‑75 of the Income Tax Assessment Act 1997 made by Schedule 1 to the Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009, subsection (1) of that section continues to apply, from the commencement of that Schedule, to each ownership interest that it applied to just before that commencement.
33 Section 130‑100 (the section 130‑100 inserted by item 40 of Schedule 1 to the Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009)
Renumber as section 130‑97.
162‑100
supplies later found to be GST‑free supplies
payment of trustee beneficiary non‑disclosure tax
271‑80 in Schedule 2F
197‑75
214‑155
292‑390
345‑115
721‑30
214‑105
repayments or underpayments of Government co‑contributions that cannot be credited to an account
16‑80 in Schedule 1
45‑80 in Schedule 1
45‑230 in Schedule 1
45‑232 in Schedule 1
45‑235 in Schedule 1
45‑600 and 45‑620 in Schedule 1
45‑870 and 45‑875 in Schedule 1
105‑80 in Schedule 1
263‑30 in Schedule 1
268‑75 in Schedule 1
298‑25 in Schedule 1
36 Subsection 30‑20(2) (table items 1.2.2 and 1.2.3)
37 Subsection 30‑20(2) (cell at table item 1.2.4, column headed “Fund, authority or institution”)
38 Subsection 30‑20(2) (table items 1.2.11 and 1.2.15)
39 Subsection 30‑25(2) (table items 2.2.15 and 2.2.19)
40 Subsection 30‑40(2) (table item 3.2.3)
41 Subsection 30‑45(2) (table items 4.2.5 and 4.2.15)
42 Subsection 30‑50(2) (table items 5.2.16, 5.2.24 and 5.2.27)
43 Section 30‑65 (table items 7.2.1, 7.2.2 and 7.2.4)
44 Subsection 30‑80(2) (table items 9.2.2, 9.2.15 and 9.2.16)
45 Section 30‑90 (table item 10.2.6)
46 Section 30‑105 (table items 13.2.5, 13.2.11 and 13.2.14)
47 Section 30‑315 (table items 5, 19, 21, 24, 25, 25C, 26, 28AAA, 28A, 28AB, 31A, 34, 38, 50A, 60A, 61, 83 and 91)
48 Section 30‑315 (after table item 98)
49 Section 30‑315 (table items 105B, 112AFA, 112AG, 112BA and 121C)
(1) Treat Breast Cancer Network Australia and Indigenous Community Volunteers Limited as having been endorsed as deductible gift recipients under section 30‑120 of the Income Tax Assessment Act 1997 at the commencement of this item.
(2) To avoid doubt, subitem (1) does not prevent the Commissioner from revoking either or both of those endorsements at a later time under section 426‑55 in Schedule 1 to the Taxation Administration Act 1953.
51 Subsection 30‑50(2) (table item 5.2.25)
52 Subsection 30‑80(2) (table item 9.2.20)
53 Section 30‑105 (table items 13.2.4, 13.2.6, 13.2.12 and 13.2.13)
54 Section 30‑315 (table items 20AA, 45AA, 49A, 81, 86F and 127AA)
Omit “49A,”.
Note: This item makes an amendment consequential on item 3 of Schedule 6 to the Tax Laws Amendment (2008 Measures No. 2) Act 2008.
To avoid doubt, item 15 of Schedule 3 to the Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006 is taken never to have repealed item 49A of the table in section 30‑105 of the Income Tax Assessment Act 1997.
61 Subsection 6(1) (at the end of the definition of dividend)
62 Subsection 6(1) (at the end of the definition of permanent establishment)
63 Subsection 6(1) (definition of RSA)
Note: That Act defines RSA as having the meaning given by the Retirement Savings Accounts Act 1997.
64 Subsection 6(1) (definition of RSA provider)
Note: That Act defines RSA provider as having the same meaning as in the Retirement Savings Accounts Act 1997.
Part 11—Correction of cross‑reference in provision about dividend streaming etc.
Note: The heading to section 159HA is altered by omitting “, 159K”.
74 Section 3‑1
75 Subsection 3‑5(1) (note 1)
76 Section 11‑15 (table item headed “United Nations”)
77 Section 830‑75
78 Subsection 25‑5(7)
80 Section 11‑5 (table item headed “film”)
81 Section 11‑5 (table item headed “mining”)
82 Section 50‑35 (table item 7.1)
83 Section 50‑45 (heading)
50‑45 Sports, culture and recreation
84 Section 50‑45 (table items 9.3 and 9.4)
85 Subsection 114‑15(2)
86 Subsection 114‑15(3) (method statement, steps 1 and 3)
87 Subsections 114‑15(5) and (6)
88 Section 114‑20
89 Paragraph 118‑150(4)(a)
90 Application provision—amendment of subsection 118‑150(4)
The amendment of subsection 118‑150(4) of the Income Tax Assessment Act 1997 made by this Part applies in relation to CGT events happening on or after the day this Act receives the Royal Assent.
91 Paragraph 152‑10(1)(c) (note)
Note: For determining whether an entity is a small business entity, see Subdivision 328‑C (as affected by sections 152‑48 and 152‑78).
92 Subsection 152‑10(1A) (note 1)
Note 1: The meaning of connected with is affected by section 152‑78.
Note 2: For determining whether an entity is a small business entity, see Subdivision 328‑C (as affected by sections 152‑48 and 152‑78).
93 Subsection 152‑10(1A) (note 2)
94 Section 152‑15 (note)
95 At the end of section 152‑15
Note 2: The meaning of connected with is affected by section 152‑78.
96 At the end of subsections 152‑20(2), (3) and (4)
Note: The meaning of connected with is affected by section 152‑78.
97 Subsection 152‑40(1) (note 2)
Omit “152‑42”, substitute “152‑78”.
98 At the end of subsections 152‑40(4) and (4A)
99 Section 152‑42
100 At the end of subsection 152‑47(1)
Note: The meaning of connected with an entity is affected by section 152‑78.
101 At the end of subsection 152‑48(2)
Note: Paragraphs (a) and (b)—the meaning of connected with is affected by section 152‑78.
102 After section 152‑75
152‑78 Trustee of discretionary trust may nominate beneficiaries to be controllers of trust
(1) This section applies for the purposes of determining whether an entity is *connected with you, for the purposes of:
(b) sections 328‑110, 328‑115 and 328‑125 so far as they relate to this Subdivision.
(2) The trustee of a discretionary trust may nominate not more than 4 beneficiaries as being controllers of the trust for an income year (the relevant income year) for which the trustee did not make a distribution of income or capital if the trust had a *tax loss, or no *net income, for that year.
(3) A nomination under subsection (2) has effect as if each nominated beneficiary controlled the trust for the relevant income year in a way described in section 328‑125.
103 Subsection 328‑115(1) (note)
Note: For small business CGT relief purposes, additional entities may be treated as being connected with you or your affiliate under sections 152‑48 and 152‑78.
104 Subsection 995‑1(1) (note at the end of the definition of connected with)
(1) Section 152‑78 of the Income Tax Assessment Act 1997 applies:
(i) Subdivision 152‑A of that Act;
(ii) sections 328‑110, 328‑115 and 328‑125 of that Act so far as they relate to that Subdivision; and
(b) for the purposes of the following provisions (and not any other provisions of Subdivision 152‑A of that Act) relating to CGT events that happen before the day this Act receives the Royal Assent but after the start of the 2007‑08 income year:
(i) paragraph 152‑10(1A)(a) of that Act;
(iii) sections 328‑110, 328‑115 and 328‑125 of that Act so far as they relate to a provision covered by subparagraph (i) or (ii) of this paragraph.
Note: Section 152‑78 of the Income Tax Assessment Act 1997 does not apply for the purposes of a provision of Subdivision 152‑A of that Act that is not covered by subparagraph (1)(b)(i) or (ii) of this item relating to CGT events that happen between the start of the 2007‑08 income year and the day this Act receives the Royal Assent.
(2) The repeal of section 152‑42 of the Income Tax Assessment Act 1997 applies for the purposes of subparagraph 152‑40(1)(a)(iii) or paragraph 152‑40(1)(b) of that Act relating to CGT events that happen on or after the day this Act receives the Royal Assent.
(b) an entity that becomes eligible to make a choice under Division 152 of the Income Tax Assessment Act 1997 in relation to that event because of the satisfaction of the conditions in subsection 152‑10(1A) of that Act because of this Part.
(4) Despite subsection 103‑25(1) of the Income Tax Assessment Act 1997, any such choice by the entity must be made by the latest of:
Part 20—Definitions mainly relevant to Subdivision 165‑F of the Income Tax Assessment Act 1997
106 Paragraphs 115‑50(2)(a), (3)(a) and (4)(a)
107 Subsection 121‑30(2)
108 Paragraph 124‑810(3)(a)
109 Subsection 165‑45(4) (note 2)
110 Subparagraph 165‑215(2)(a)(i)
111 Subparagraph 165‑215(2)(a)(ii)
Omit “non‑fixed trusts”, substitute “*non‑fixed trusts”.
112 Subparagraph 165‑215(2)(b)(i)
113 Subsection 165‑215(3)
114 Paragraph 165‑215(4)(a)
115 Subsection 165‑215(5)
Omit “non‑fixed trust (other than an excepted trust) that, at any time during the *ownership test period, held directly or indirectly a fixed entitlement”, substitute “*non‑fixed trust (other than an *excepted trust) that, at any time during the *ownership test period, held directly or indirectly a *fixed entitlement”.
116 At the end of subsection 165‑215(5)
Note: See section 165‑245 for when an entity is taken to have held or had, directly or indirectly, a fixed entitlement to a share of income or capital of a company.
117 Subparagraph 165‑220(2)(a)(i)
118 Subparagraph 165‑220(2)(a)(ii)
119 Subparagraph 165‑220(2)(b)(i)
120 Subparagraph 165‑220(2)(b)(ii)
121 Subsection 165‑220(3)
122 Paragraph 165‑220(4)(a)
123 Subsection 165‑220(5)
Omit “non‑fixed trust (other than an excepted trust) that, at any time in the income year, held directly or indirectly a fixed entitlement”, substitute “*non‑fixed trust (other than an *excepted trust) that, at any time in the income year, held directly or indirectly a *fixed entitlement”.
124 At the end of subsection 165‑220(5)
125 Section 165‑225
165‑225 Special way of dividing the income year under Subdivision 165‑B
(i) its taxable income and *tax loss for the income year under Subdivision 165‑B; and
(ii) its *net capital gain and *net capital loss for the income year under Subdivision 165‑CB; and
(b) the company meets the requirements of subsections 165‑220(2) and (4);
then, in dividing the income year into periods, apply subsection (2) of this section instead of subsections 165‑45(3) and (4).
(a) the latest time that would result in the persons holding *fixed entitlements to shares of the income or shares of the capital of:
(i) if the company meets the requirements of paragraph 165‑220(2)(a)—the company; or
(ii) if the company meets the requirements of paragraph 165‑220(2)(b)—the holding entity mentioned in that paragraph;
(b) the times that, for all of the *non‑fixed trusts, other than *excepted trusts, holding directly or indirectly a fixed entitlement to a share of the income or capital of the company at any time during the income year, are the latest times that would result in individuals having *more than a 50% stake in their income or capital; and
(c) the earliest time in the period when a group (within the meaning of Schedule 2F to the Income Tax Assessment Act 1936) begins to *control a non‑fixed trust, other than an excepted trust, that holds directly or indirectly a fixed entitlement to a share of the income or capital of the company at any time during the income year.
126 Subparagraph 165‑230(2)(a)(i)
127 Subparagraph 165‑230(2)(a)(ii)
128 Subparagraph 165‑230(2)(b)(i)
129 Subparagraph 165‑230(2)(b)(ii)
130 Subsection 165‑230(3)
131 Paragraph 165‑230(4)(a)
132 Subsection 165‑230(5)
133 At the end of subsection 165‑230(5)
134 Subsection 165‑235(3)
Omit “non‑fixed trust”, substitute “*non‑fixed trust”.
135 Paragraph 165‑235(4)(a)
136 Subsection 165‑240(1)
137 Section 165‑245
165‑245 When an entity has a fixed entitlement to income or capital of a company
138 Paragraph 207‑130(6)(f)
139 Subsection 707‑130(1) (note 1)
140 Subsection 707‑130(1) (note 1)
141 Subsection 995‑1(1)
control a non‑fixed trust has the meaning given by Subdivision 269‑E in Schedule 2F to the Income Tax Assessment Act 1936.
142 Subsection 995‑1(1)
excepted trust has the meaning given by section 272‑100 in Schedule 2F to the Income Tax Assessment Act 1936.
143 Subsection 995‑1(1) (definition of fixed entitlement)
144 Subsection 995‑1(1) (at the end of the definition of fixed entitlement)
Note: Section 165‑245 affects when an entity is taken to have held or had, directly or indirectly, a fixed entitlement to a share of income or capital of a company.
145 Subsection 995‑1(1) (definition of more than a 50% stake)
more than a 50% stake:
(a) more than a 50% stake in a company has the meaning given by section 165‑37; and
(b) more than a 50% stake in the income or capital of a trust has the meaning given by section 269‑50 in Schedule 2F to the Income Tax Assessment Act 1936.
146 Paragraph 45‑287(1)(a) in Schedule 1
147 Paragraph 45‑287(4)(a) in Schedule 1
148 Section 204‑70
149 Subsections 204‑75(1) and (2)
150 Subsection 204‑80(1)
Omit “If the *benchmark franking percentage for an entity for a *franking period (the current franking period) *differs significantly from the benchmark franking percentage for the entity for the last franking period in which a *frankable distribution was made (the last relevant franking period), the”, substitute “The”.
151 Subparagraph 320‑141(2)(a)(i)
152 Subparagraph 320‑141(2)(a)(ii)
153 Application provision—amendments of paragraph 320‑141(2)(a)
The amendments of paragraph 320‑141(2)(a) of the Income Tax Assessment Act 1997 made by this Part apply on and after 26 June 2008.
154 Section 13‑1 (table item headed “land transport facilities borrowings”)
155 Subsection 250‑60(3)
Omit “facilities”, substitute “facilities”.
156 Paragraph 250‑60(3)(d)
157 Paragraph 250‑60(3)(e)
159 Subsection 995‑1(1) (definition of land transport facilities borrowings agreement)
160 Subsection 995‑1(1) (definition of land transport facility)
161 Subsection 995‑1(1) (definition of LTF interest)
162 Subsection 995‑1(1) (definition of related facility)
163 At the end of section 725‑250
164 At the end of subsection 725‑255(2)
165 After subsection 725‑335(3)
166 At the end of subsection 725‑340(2)
Subsections 725‑250(3) and 725‑335(3A) of the Income Tax Assessment Act 1997 apply in relation to schemes entered into on or after the commencement of those subsections.
169 Section 14ZQ (definition of ineligible income tax remission decision)
Omit “(2) An objection decision is an ineligible income tax remission decision”, substitute “(1) An objection decision is an ineligible income tax remission decision”.
173 Subparagraph 855‑40(2)(b)(i)
174 Subparagraph 855‑40(2)(b)(ii)
175 Paragraph 855‑40(6)(b)
Part 27—Gender‑specific language
176 Subsection 6(1) (definition of income from personal exertion)
177 Subsection 6(1) (paragraph (a) of the definition of income from personal exertion)
178 Subsection 6(1) (paragraph (e) of the definition of permanent establishment)
179 Subsection 6(1) (subparagraphs (a)(i) and (ii) of the definition of resident)
180 Subsection 6(1) (subparagraph (a)(ii) of the definition of resident)
204 Subsection 23AF(18) (paragraph (a) of the definition of eligible foreign remuneration)
205 Subsection 24B(1) (paragraph (b) of the definition of prescribed person)
246 Subsection 82L(1) (paragraph (b) of the definition of convertible note)
257 Sub‑subparagraph 94(10C)(a)(i)(A)
308 Subsection 156(1) (definition of relevant primary production deductions)
318 Subsection 159P(4) (paragraph (h) of the definition of medical expenses)
Omit “capital gains tax”, substitute “capital gains”.
375 Subsection 136(1) (paragraph (q) of the definition of fringe benefit)
376 Subsection 95(1) (note at the end of the definition of net income)
377 Subsection 102D(1) (note at the end of the definition of net income)
378 Section 102M (note at the end of the definition of net income)
379 Subsection 102UC(4) (definition of discretionary trust)
380 Subsection 102UC(4) (paragraphs (a), (d) and (e) of the definition of excluded trust)
381 Subsection 102UC(4) (definition of fixed entitlement)
382 Subsection 102UC(4) (definition of indirectly)
383 Subsection 25‑35(5) (cell at table item 5, column headed “See:”)
384 Section 36‑25
385 Section 109‑60 (cell at table item 9, column headed “See:”)
386 Section 109‑60 (cell at table item 10, column headed “See:”)
Omit “of Schedule 2H”, substitute “in Schedule 2H”.
387 Section 112‑97 (cell at table item 5A, column headed “See:”)
388 Section 112‑97 (cell at table item 20, column headed “See:”)
389 Subsection 128‑15(1) (note 2)
390 Subsections 165‑215(5), 165‑220(5), 165‑230(5), 180‑10(1) and 180‑20(1)
391 Subsection 230‑460(7)
Omit “Division 323 of Schedule J to the Income Tax Assessment Act 1936”, substitute “Subdivision 321‑C”.
392 Subsection 328‑10(1) (cell at table item 12, column headed “Provision”)
393 Subsection 328‑110(4) (paragraph (a) of the note)
394 Subsection 995‑1(1) (definition of family trust)
395 Subsection 995‑1(1) (paragraph (a) of the definition of income for surcharge purposes)
396 Subsection 995‑1(1) (note 1 to paragraph (a) of the definition of tax loss)
397 Subparagraph 40‑285(2)(a)(ii)
400 Subsection 995‑1(1)
401 Subsection 2(1) (at the end of the definition of taxation law)
Omit “, and Subdivision 284‑B in Schedule 1 to,”.
403 Paragraph 284‑75(1)(a) in Schedule 1
404 Subsection 284‑75(1) in Schedule 1 (note 1)
405 Subsection 284‑75(1) in Schedule 1 (note 2)
406 Subparagraph 284‑75(4)(a)(ii) in Schedule 1
407 Paragraph 284‑75(4)(b) in Schedule 1
408 Subparagraph 284‑75(6)(d)(i) in Schedule 1
409 Subparagraph 284‑75(6)(d)(ii) in Schedule 1
410 Subsection 284‑80(1) in Schedule 1 (table item 2)
411 Subsection 284‑90(1) in Schedule 1 (table items 1 to 3C, column headed “In this situation:”)
412 Subsection 170(10AA) (table items 24, 25, 30 (the table item 30 inserted by item 19 of Schedule 1 to the Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009) and 35)
414 Subsection 112‑20(3) (note 1)
Subdivision 240‑H—Application of Division 16E to certain arrangements
416 Subparagraph 376‑170(4)(a)(i)
417 Subparagraph 705‑25(5)(c)(ii)
418 Subsection 974‑150(2)
419 Section 126‑155
421 Subsection 388‑65(3A) in Schedule 1
The amendment made by item 421 of this Schedule applies to determinations made under paragraph 388‑65(3)(c) in Schedule 1 to the Taxation Administration Act 1953 on or after 1 April 2004.
423 Section 3C (definition of relevant tax) (table item 50)
424 Part 2 of Schedule 12 (heading relating to the Industrial Research and Development Incentives Act 1976)