Document ID: chunk:federal_register_of_legislation:C2011C00698:front:0:p1
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Tax Laws Amendment (2010 Measures No. 1) Act 2010

Act No. 56 of 2010 as amended

This compilation was prepared on 23 August 2011
taking into account amendments up to Act No. 41 of 2011

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

Prepared by the Office of Legislative Drafting and Publishing,
Attorney‑General's Department, Canberra

Contents
1 Short title [see Note 1]
2 Commencement
3 Schedule(s)
4 Amendment of assessments

Schedule 1—Approved superannuation clearing house

Part 1—Main amendments
Retirement Savings Accounts Act 1997
Superannuation Guarantee (Administration) Act 1992
Superannuation Industry (Supervision) Act 1993

Part 2—Amendments conditional on the Tax Laws Amendment (Confidentiality of Taxpayer Information) Act 2010
Income Tax Assessment Act 1936
Taxation Administration Act 1953

Part 3—Application provision

Schedule 2—Forestry managed investment schemes
Income Tax Assessment Act 1936
Income Tax Assessment Act 1997
Taxation Administration Act 1953

Schedule 3—Managed investment trusts
Income Tax Assessment Act 1936
Income Tax Assessment Act 1997
Income Tax (Transitional Provisions) Act 1997
Taxation Administration Act 1953

Schedule 4—25% entrepreneurs' tax offset
Income Tax Assessment Act 1997

Schedule 5—Consolidation

Part 1—Use of the tax cost setting amount
Division 1—Main amendments
Income Tax Assessment Act 1997
Division 2—Foreign currency gains and losses
Income Tax Assessment Act 1997
Division 3—Application and transitional provisions

Part 2—Group restructures
Income Tax Assessment Act 1997

Part 3—Pre‑CGT proportions
Income Tax Assessment Act 1997

Part 4—No double counting of amounts in ACA
Income Tax Assessment Act 1997

Part 5—Pre‑joining time roll‑overs
Income Tax Assessment Act 1997
Income Tax (Transitional Provisions) Act 1997

Part 6—Phasing out over‑depreciation adjustments
Division 1—Joining times between 8 May 2007 and 30 June 2009
Income Tax Assessment Act 1997
Division 2—Repeal of section 705‑50 with effect from 1 July 2009
Income Tax Assessment Act 1997
Income Tax (Transitional Provisions) Act 1997

Part 7—Leaving time liabilities
Division 1—Timing
Income Tax Assessment Act 1997
Division 2—Adjustment of step 4 amount
Income Tax Assessment Act 1997

Part 8—Accounting principles
Income Tax Assessment Act 1997

Part 9—Inherited deductions
Income Tax Assessment Act 1997

Part 10—General insurance companies
Income Tax Assessment Act 1997

Part 11—Retained cost base assets
Division 1—Cash management trusts
Income Tax Assessment Act 1997
Division 2—Rights to future income assets
Income Tax Assessment Act 1997
Division 3—Application provision

Part 12—Removal of CGT event L7
Income Tax Assessment Act 1997
Income Tax (Transitional Provisions) Act 1997

Part 13—Reduction in tax cost setting amount that exceeds market value of certain retained cost base assets
Income Tax Assessment Act 1997

Part 14—Blackhole expenditure for MEC Groups
Income Tax Assessment Act