Commonwealth Consolidated Acts Commonwealth Consolidated ActsAct No. 40 of 1997 as amended
This compilation was prepared on 25 September 2009
taking into account amendments up to Act No. 88 of 2009
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
Chapter 1--Introduction and core provisions 1
Part 1‑1--Preliminary 1
Division 1--Preliminary 1
1‑1......... Short title [see Note 1] ....................................................................... 1
1‑5......... Commencement .................................................................................. 1
1‑7......... Administration of this Act ................................................................. 1
1‑10....... Expressions mean the same as in the Income Tax Assessment Act 1997 1
Part 1‑3--Core Provisions 2
Division 4--How to work out the income tax payable on your taxable income 2
4‑1......... Application of the Income Tax Assessment Act 1997 ........................ 2
Division 6--Assessable income and exempt income 3
6‑2......... Effect of this Division ........................................................................ 3
6‑3......... Assessable income for income years before 1997‑98 ......................... 3
6‑20....... Exempt income for income years before 1997‑98 .............................. 3
Division 8--Deductions 4
8‑2......... Effect of this Division ........................................................................ 4
8‑3......... Deductions for income years before 1997‑98 ..................................... 4
8‑10....... No double deductions for income year before 1997‑98 and income year after 1996‑97 4
Chapter 2--Liability rules of general application 5
Part 2‑1--Assessable income 5
Division 15--Some items of assessable income 5
15‑1....... General application provision ............................................................ 5
15‑10..... Application of section 15‑10 of the Income Tax Assessment Act 1997 to bounties and subsidies 6
15‑15..... Application of section 15‑15 of the Income Tax Assessment Act 1997 to profit‑making undertaking or plan 6
15‑20..... Application of section 15‑20 of the Income Tax Assessment Act 1997 to royalties 6
15‑30..... Application of section 15‑30 of the Income Tax Assessment Act 1997 to insurance or indemnity payments 6
15‑35..... Application of section 15‑35 of the Income Tax Assessment Act 1997 to interest on overpayments and early payments of tax ................................................................................................... 6
Division 20--Items included to reverse the effect of past deductions 7
Subdivision 20‑A--Insurance, indemnity or recoupment for deductible expenses 7
20‑1....... Application of Subdivision 20‑A of the Income Tax Assessment Act 1997 7
Subdivision 20‑B--Disposal of a car for which lease payments have been deducted 7
20‑100... Application of Subdivision 20‑B of the Income Tax Assessment Act 1997 7
20‑105... The cost of a car acquired in the 1996‑97 income year or an earlier income year 8
20‑110... The termination value of a car disposed of in the 1996‑97 income year or an earlier income year 8
20‑115... Reducing the assessable amount for the disposal of a car in the 1997‑98 income year or later if there has been an earlier disposal of it ....................................................................................... 9
Part 2‑5--Rules about deductibility of particular kinds of amounts 11
Division 25--Some amounts you can deduct 11
25‑1....... Application of Division 25 of the Income Tax Assessment Act 1997 11
25‑40..... Application of section 25‑40 of the Income Tax Assessment Act 1997 .. 11
25‑45..... Application of section 25‑45 of the Income Tax Assessment Act 1997 .. 11
25‑50..... Application of section 25‑90 of the Income Tax Assessment Act 1997 .. 12
25‑65..... Local government election expenses ................................................. 12
Division 26--Some amounts you cannot deduct, or cannot deduct in full 13
26‑1....... Application of Division 26 of the Income Tax Assessment Act 1997 13
26‑30..... Application of section 26‑30 of the Income Tax Assessment Act 1997 .. 13
Division 30--Gifts or contributions 14
30‑1....... Application of Division 30 of the Income Tax Assessment Act 1997 14
30‑5....... Keeping in force old declarations and instruments ........................... 14
30‑10..... Applications for approval of testamentary gifts not yet decided .... 15
30‑15..... Keeping in force the guidelines for deciding testamentary gifts ....... 16
30‑20..... Keeping in force certificates approving testamentary gifts .............. 16
30‑25..... Keeping in force the old gifts registers ............................................. 16
Division 32--Entertainment expenses 18
32‑1....... Application of Division 32 of the Income Tax Assessment Act 1997 18
Division 34--Non‑compulsory uniforms 19
34‑1....... Application of Division 34 of the Income Tax Assessment Act 1997 19
34‑5....... Things done under former section 51AL of the Income Tax Assessment Act 1936 19
Division 36--Tax losses of earlier income years 21
36‑100... Tax losses for the 1997‑98 and later income years ........................... 21
36‑105... Tax losses for 1989‑90 to 1996‑97 income years ............................. 21
36‑110... Tax losses for 1957‑58 to 1988‑89 income years ............................. 21
Part 2‑10--Capital allowances: rules about deductibility of capital expenditure 23
Division 40--Capital allowances 23
Subdivision 40‑B--Core provisions 23
40‑10..... Plant .................................................................................................. 24
40‑12..... Plant acquired after 30 June 2001 ..................................................... 25
40‑13..... Accelerated depreciation for split or merged plant ........................... 26
40‑15..... Recalculating effective life ................................................................ 26
40‑20..... IRUs ................................................................................................. 27
40‑25..... Software ............................................................................................ 27
40‑30..... Spectrum licences ............................................................................. 28
40‑33..... Datacasting transmitter licences ....................................................... 28
40‑35..... Mining unrecouped expenditure ....................................................... 29
40‑37..... Post‑30 June 2001 mining expenditure ............................................. 32
40‑38..... Mining cash bidding payments ......................................................... 34
40‑40..... Transport expenditure ...................................................................... 36
40‑43..... Post‑30 June 2001 transport expenditure ........................................ 38
40‑44..... No additional decline in certain cases ............................................... 39
40‑45..... Intellectual property ......................................................................... 40
40‑47..... IRUs ................................................................................................. 40
40‑50..... Forestry roads and timber mill buildings .......................................... 41
40‑55..... Environmental impact assessment .................................................... 41
40‑60..... Pooling under Subdivision 42‑L of the former Act ........................... 42
40‑65..... Substituted accounting periods ......................................................... 43
40‑70..... References to amounts deducted and reductions in deductions ........ 46
40‑72..... New diminishing value method not to apply in some cases ............. 47
40‑75..... Mining expenditure incurred after 1 July 2001 on an asset .............. 48
40‑77..... Mining, quarrying or prospecting rights or information held before 1 July 2001 49
40‑80..... Other expenditure incurred after 1 July 2001 on a depreciating asset 51
40‑100... Commissioner's determination of effective life ................................ 52
Subdivision 40‑C--Cost 52
40‑230... Car limit ............................................................................................ 52
Subdivision 40‑D--Balancing adjustments 53
40‑285... Balancing adjustments ...................................................................... 53
40‑287... Disposal of pre‑1 July 2001 mining depreciating asset to associate 55
40‑288... Disposal of pre‑1 July 2001 mining non‑depreciating asset to associate 55
40‑289... Surrendered firearms ......................................................................... 56
40‑290... Reduction of deductions under former Act etc. ................................ 56
40‑295... Later year relief ................................................................................. 57
40‑340... Roll‑overs ......................................................................................... 57
40‑345... Balancing adjustments for depreciating assets that retain CGT indexation 61
40‑365... Involuntary disposals ....................................................................... 63
Subdivision 40‑E--Low‑value and software development pools 63
40‑420... Low‑value pools under Division 42 continue ................................... 63
40‑450... Software development pools ............................................................ 63
Subdivision 40‑F--Primary production depreciating assets 63
40‑515... Water facilities, grapevines and horticultural plants ......................... 64
40‑520... Special rule for water facilities you no longer hold ........................... 64
40‑525... Amounts deducted for water facilities .............................................. 65
Subdivision 40‑G--Capital expenditure of primary producers and other landholders 65
40‑645... Electricity supply and telephone lines ............................................. 65
40‑650... Special rule for land that you no longer hold .................................... 66
40‑670... Farm consultants .............................................................................. 66
Subdivision 40‑I--Capital expenditure that is deductible over time 66
40‑825... Genuine prospectors ........................................................................ 66
40‑832... New method not to apply in some cases ......................................... 66
Subdivision 40‑J--Ships depreciated under section 57AM of the Income Tax Assessment Act 1936 67
40‑830... Ships depreciated under section 57AM of the Income Tax Assessment Act 1936 67
Division 43--Deductions for capital works 69
43‑100... Application of Division 43 to quasi‑ownership rights over land ..... 69
43‑105... Application of subsections 43‑50(1) and (2) to hotel buildings and apartment buildings 69
43‑110... Application of subsection 43‑75(3) ................................................. 69
Division 45--Disposal of leases and leased plant 70
45‑1....... Application of Division 45 of the Income Tax Assessment Act 1997 70
45‑3....... Application of Division 45 to disposals between February 1999 and September 1999 70
45‑40..... Application of Division to plant formerly owned by exempt entities 71
Part 2‑15--Exempt income 75
Division 50--Exempt entities 75
50‑1....... Application of Division 50 of the Income Tax Assessment Act 1997 75
Division 51--Exempt amounts 76
51‑1....... Application of Division 51 of the Income Tax Assessment Act 1997 76
Division 52--Certain pensions, benefits and allowances are exempt from income tax 77
52‑1....... Application of Division 52 of the Income Tax Assessment Act 1997 77
Division 53--Various exempt payments 78
53‑1....... Application of Division 53 of the Income Tax Assessment Act 1997 78
Division 54--Exemption for certain payments made under structured settlements and structured orders 79
54‑1....... Application of Division 54 of the Income Tax Assessment Act 1997 79
Division 55--Payments that are not exempt from income tax 80
55‑1....... Application of Division 55 of the Income Tax Assessment Act 1997 80
Part 2‑20--Tax offsets 81
Division 61--Generally applicable tax offsets 81
Subdivision 61‑L--Tax offset for Medicare levy surcharge (lump sum payments in arrears) 81
61‑575... Application of Subdivision 61‑L of the Income Tax Assessment Act 1997 81
Part 2‑25--Trading stock 82
Division 70--Trading stock 82
70‑1....... Application of Division 70 of the Income Tax Assessment Act 1997 82
70‑10..... Accounting for your disposal of items that stop being trading stock because of the change of definition 83
70‑20..... Application of section 70‑20 of the Income Tax Assessment Act 1997 to trading stock bought on or after 1 July 1997 .......................................................................................................... 84
70‑55..... Cost of live stock acquired by natural increase ................................ 84
70‑70..... Valuing interests in FIFs on hand at the start of 1991‑92 ................ 85
70‑90..... Application of sections 70‑90 and 70‑95 of the Income Tax Assessment Act 1997 to disposals of trading stock outside the ordinary course of business ........................................................ 86
70‑100... Application of section 70‑100 of the Income Tax Assessment Act 1997 to disposals of trading stock outside ordinary course of business ............................................................................. 86
70‑105... Application of section 70‑105 of the Income Tax Assessment Act 1997 to deaths on or after 1 July 1997 87
70‑115... Application of section 70‑115 of the Income Tax Assessment Act 1997 to insurance and indemnity payments in 1997‑98 and later income years ........................................................ 87
Part 2‑40--Rules affecting employees and other taxpayers receiving PAYG withholding payments 88
Division 82--Pre‑10 May 2006 entitlements to life benefit termination payments 88
Subdivision 82‑A--Application of Division 88
82‑10..... Pre‑10 May 2006 entitlements--transitional termination payments 88
Subdivision 82‑B--Transitional termination payments: general 90
82‑10A.. Recipient has reached preservation age ............................................ 90
82‑10B.. Lower cap amount ............................................................................ 91
82‑10C.. Recipient under preservation age ...................................................... 93
82‑10D.. Upper cap amount ............................................................................ 93
Subdivision 82‑C--Pre‑payment statements 94
82‑10E.. Transitional termination payments--pre‑payment statements ....... 94
Subdivision 82‑D--Directed termination payments made to superannuation and other entities 95
82‑10F.. Directed termination payments ......................................................... 95
82‑10G.. Directed termination payments not assessable income and not exempt income 96
Subdivision 82‑E--Pre‑10 May 2006 entitlements and employment termination payments made after 1 July 2012 96
82‑10H.. Transitional termination payments may reduce ETP cap amount for payments under section 82‑10 after 1 July 2012 .......................................................................................................... 96
Chapter 3--Specialist liability rules 98
Part 3‑1--Capital gains and losses: general topics 98
Division 102--Application of Parts 3‑1 and 3‑3 of the Income Tax Assessment Act 1997 98
102‑1..... Application of Parts 3‑1 and 3‑3 of the Income Tax Assessment Act 1997 98
102‑5..... Working out capital gains and capital losses .................................... 98
102‑15... Applying net capital losses .............................................................. 99
102‑20... Net capital gains, capital gains and capital losses for income years before 1998‑99 100
Division 104--CGT events 101
Subdivision 104‑C--End of a CGT asset 101
104‑25... Cancellation, surrender and similar endings .................................... 101
Subdivision 104‑D--Bringing into existence a CGT asset 101
104‑40... Granting an option .......................................................................... 101
Subdivision 104‑E--Trusts 102
104‑70... Capital payment before 18 December 1986 for trust interest ........ 102
Subdivision 104‑G--Shares 102
104‑135. Capital payment for shares ............................................................ 103
Subdivision 104‑I--Australian residency ends 103
104‑165. Choices made under subsection 104‑165(2) of the Income Tax Assessment Act 1997 103
104‑166. Subsection 104‑165(1) still applies if you continue to be a short term Australian resident 103
Subdivision 104‑J--CGT events relating to roll‑overs 104
104‑175. Company ceasing to be member of wholly‑owned group after roll‑over 104
104‑185. Change of status of replacement asset for a roll‑over under Division 17A of former Part IIIA of the 1936 Act or Division 123 of the 1997 Act ......................................................... 105
Subdivision 104‑K--Other CGT events 105
104‑205. Partial realisation of intellectual property ...................................... 105
Division 108--CGT assets 106
Subdivision 108‑A--What a CGT asset is 106
108‑5..... CGT assets ..................................................................................... 106
Subdivision 108‑B--Collectables 106
108‑15... Sets of collectables .......................................................................... 106
Subdivision 108‑D--Separate CGT assets 107
108‑75... Capital improvements to CGT assets for which a roll‑over may be available 107
108‑85... Improvement threshold .................................................................. 107
Division 109--Acquisition of CGT assets 109
Subdivision 109‑A--Operative rules 109
109‑5..... General acquisition rules ................................................................. 109
Division 110--Cost base and reduced cost base 110
Subdivision 110‑A--Cost base 110
110‑25... Cost base of CGT asset of life insurance company or registered organisation 110
110‑35... Incidental costs ............................................................................... 110
Division 112--Modifications to cost base and reduced cost base 111
Subdivision 112‑A--General rules 111
112‑20... Market value substitution rule ....................................................... 111
Subdivision 112‑B--Special rules 111
112‑100. Effect of terminated gold mining exemptions ................................. 111
Division 114--Indexation of cost base 113
114‑5..... When indexation relevant ................................................................ 113
Division 118--Exemptions 114
Subdivision 118‑A--General exemptions 114
118‑10... Interests in collectables ................................................................... 114
118‑24A Pilot plant ....................................................................................... 114
Subdivision 118‑B--Main residence 115
118‑195. Exemption--dwelling acquired from deceased estate ..................... 115
Subdivision 118‑C--Goodwill 115
118‑260. Business exemption threshold ........................................................ 115
Division 121--Record keeping 116
121‑15... Retaining records under Division 121 ............................................. 116
121‑25... Records for mergers between qualifying superannuation funds ..... 116
Part 3‑3--Capital gains and losses: special topics 117
Division 124--Replacement‑asset roll‑overs 117
Subdivision 124‑C--Statutory licences 117
124‑140. New statutory licence--ASGE licence etc. .................................... 117
124‑141. ASGE licence etc.--cost base of ineligible part .............................. 118
124‑142. ASGE licence etc.--cost base of aquifer access licence etc. ........... 119
Division 126--Roll‑overs 120
Subdivision 126‑A--Merger of qualifying superannuation funds 120
126‑100. Merger of qualifying superannuation funds ................................... 120
Subdivision 126‑B--Transfer of life insurance business 120
126‑150. Roll‑over on transfer of life insurance business .............................. 121
126‑155. When there is a roll‑over ................................................................. 122
126‑160. Effects of roll‑over .......................................................................... 122
126‑165. References to Subdivision 126‑B of the Income Tax Assessment Act 1997 123
Division 128--Effect of death 124
128‑15... Effect on the legal personal representative or beneficiary .............. 124
Division 130--Investments 125
Subdivision 130‑A--Bonus shares and units 125
130‑20... Issue of bonus shares or units ........................................................ 125
Subdivision 130‑B--Rights 126
130‑40... Exercise of rights ............................................................................. 126
Subdivision 130‑C--Convertible notes 126
130‑60... Shares or units acquired by converting a convertible note .............. 126
Subdivision 130‑DA--Employee share schemes 127
130‑80... Extension of trust holding period ................................................... 127
Subdivision 130‑D--Employee share schemes 128
130‑95... Application of Subdivision ............................................................. 129
130‑100. Cost base modification ................................................................... 130
130‑105. Time of acquisition ......................................................................... 130
130‑110. Disposals by trustees ..................................................................... 130
130‑115. Deceased estates ............................................................................. 131
130‑120. Amendment of assessments ........................................................... 131
Division 134--Options 132
134‑1..... Exercise of options ......................................................................... 132
Division 136--Foreign residents 133
Subdivision 136‑A--Making a capital gain or loss 133
136‑25... When an asset is taxable Australian property ................................ 133
Division 140--Share value shifting 134
Subdivision 140‑A--When is there share value shifting? 134
140‑7..... Pre‑1994 share value shifts irrelevant ............................................. 134
140‑15... Off‑market buy backs ..................................................................... 134
Division 149--When an asset stops being a pre‑CGT asset 135
149‑5..... Assets that stopped being pre‑CGT assets under old law ............. 135
Division 152--Small business relief 136
152‑5..... Small business roll‑over chosen but no capital gain returned ......... 136
152‑10... Small business roll‑over not chosen and time remains to acquire a replacement asset 137
152‑15... Amendment of assessments ........................................................... 137
Part 3‑5--Corporate taxpayers and corporate distributions 138
Division 165--Income tax consequences of changing ownership or control of a company 138
Subdivision 165‑CA--Applying net capital losses of earlier income years 138
165‑95... Application of Subdivision 165‑CA of the Income Tax Assessment Act 1997 138
Subdivision 165‑CB--Working out the net capital gain and the net capital loss for the income year of the change 138
165‑105. Application of Subdivision 165‑CB of the Income Tax Assessment Act 1997 139
Subdivision 165‑CC--Change of ownership or control of company that has an unrealised net loss 139
165‑115EChoice to use global method to work out unrealised net loss ........ 139
Subdivision 165‑CD--Reductions after alterations in ownership or control of loss company 139
165‑115UChoice to use global method to work out adjusted
unrealised
loss
.................................................................................................. 139
165‑115ZCWhen certain notices to be given ................................................. 140
165‑115ZDAdjustment (or further adjustment) for interest
realised at a
loss after global method has been used
........................................... 141
Subdivision 165‑C--Deducting bad debts 144
165‑135. Application of Subdivision 165‑C of the Income Tax Assessment Act 1997 144
Division 166--Income tax consequences of changing ownership or control of a listed public company 145
Subdivision 166‑C--Deducting bad debts 145
166‑40... Application of Subdivision 166‑C of the Income Tax Assessment Act 1997 145
Division 170--Treatment of company groups for income tax purposes 146
Subdivision 170‑A--Transfer of tax losses within certain wholly‑owned groups of companies 146
170‑45... Special rules affecting utilisation of losses in a bundle do not affect the amount of a tax loss that can be transferred ........................................................................................................ 146
170‑55... Ordering rule for losses previously transferred under Subdivision 707‑A of the Income Tax Assessment Act 1997 ........................................................................................................ 147
Subdivision 170‑B--Transfer of net capital losses within certain wholly‑owned groups of companies 147
170‑101. Application of Subdivision 170‑B of the Income Tax Assessment Act 1997 147
170‑145. Special rules affecting utilisation of losses in a bundle do not affect the amount of a net capital loss that can be transferred ....................................................................................... 147
170‑155. Ordering rule for losses previously transferred under Subdivision 707‑A of the Income Tax Assessment Act 1997 ........................................................................................................ 148
Subdivision 170‑C--Provisions applying to both transfers of tax losses and transfers of net capital losses within wholly‑owned groups of companies 148
170‑220. Direct and indirect interests in the loss company .......................... 148
170‑225. Direct and indirect interests in the gain company .......................... 148
Subdivision 170‑D--Transfer of life insurance business 148
170‑300. Transfer of life insurance business ................................................. 149
Division 175--Use of a company's losses, deductions or bad debts to avoid income tax 150
Subdivision 175‑CA--Tax benefits from unused net capital losses of earlier income years 150
175‑40... Application of Subdivision 175‑CA of the Income Tax Assessment Act 1997 150
Subdivision 175‑CB--Tax benefits from unused capital losses of the current year 150
175‑55... Application of Subdivision 175‑CB of the Income Tax Assessment Act 1997 150
Subdivision 175‑C--Tax benefits from unused bad debt deductions 151
175‑78... Application of Subdivision 175‑C of the Income Tax Assessment Act 1997 151
Division 197--Tainted share capital accounts 152
Subdivision 197‑A--Definitions 152
197‑1..... Definitions ...................................................................................... 152
Subdivision 197‑B--General application provision 152
197‑5..... Application of new Division 197 ................................................... 152
Subdivision 197‑C--Special provisions about companies whose share capital accounts were tainted when old Division 7B was closed off 153
197‑10... Subdivision applies to companies whose share capital accounts were tainted when old Division 7B was closed off ........................................................................................................ 153
197‑15... Account taken to have ceased to be tainted when old Division 7B was closed off 153
197‑20... After introduction day, account taken to have become tainted under new Division 197 to extent of previous tainting ........................................................................................................ 153
197‑25... Special provisions if company chooses to untaint after introduction day 154
Part 3‑6--The imputation system 158
Division 201--Object and application of Part 3‑6 158
201‑1..... Estimated debits ............................................................................. 158
Division 203--Benchmark rule 159
203‑1..... Franking periods straddling 1 July 2002 ........................................ 159
Division 205--Franking accounts 160
205‑1..... Order of events provision ............................................................... 160
205‑5..... Washing estimated debits out of the franking account before conversion 161
205‑10... Converting the franking account balance to a tax paid basis--companies whose 2001‑02 franking year ends on 30 June 2002 ................................................................................................ 161
205‑15... Converting the franking account balance to a tax paid basis--companies whose 2001‑02 franking year ends before 30 June 2002 ................................................................................... 162
205‑20... A late balancing company may elect to have its FDT liability determined on 30 June 164
205‑25... Franking deficit tax ......................................................................... 164
205‑30... Deferring franking deficit ................................................................ 165
205‑35... No franking deficit tax if franking account in deficit at the close of the 2001‑02 income year of a late balancing entity ........................................................................................................ 166
205‑70... Tax offset arising from franking deficit tax liabilities ...................... 166
205‑71... Modification of franking deficit tax offset rules ............................. 170
205‑75... Working out the tax offset for the first income year ...................... 171
205‑80... Application of Subdivision C of Division 5 of former Part IIIAA of the Income Tax Assessment Act 1936 172
Division 208--Exempting entities and former exempting entities 173
208‑111. Converting former exempting company's exempting account balance on 30 June 2002 173
Division 210--Venture capital franking 176
210‑1..... Order of events provision ............................................................... 176
210‑5..... Washing estimated venture capital debits out of the old sub‑account before conversion 176
210‑10... Converting the venture capital sub‑account balance to a tax paid basis--PDFs whose 2001‑02 franking year ends on 30 June 2002 ................................................................................... 177
210‑15... Converting the venture capital sub‑account balance to a tax paid basis--PDFs whose 2001‑02 franking year ends before 30 June 2002 ........................................................................ 177
Division 214--Administering the imputation system 179
214‑1..... Application ..................................................................................... 179
214‑5..... Entity must give a franking return .................................................. 180
214‑10... Notice to a specific corporate tax entity ........................................ 180
214‑15... Effect of a refund on franking returns ............................................. 180
214‑20... Franking returns for the income year .............................................. 181
214‑25... Commissioner may make a franking assessment ............................ 182
214‑30... Commissioner taken to have made a franking assessment on first return 182
214‑35... Amendments within 3 years of the original assessment ................. 183
214‑40... Amended assessments are treated as franking assessments ........... 183
214‑45... Further return as a result of a refund affecting a franking deficit tax liability 183
214‑50... Later amendments--on request ...................................................... 184
214‑55... Later amendments--failure to make proper disclosure .................. 184
214‑60... Later amendments--fraud or evasion ............................................. 184
214‑65... Further amendment of an amended particular ................................ 185
214‑70... Other later amendments .................................................................. 185
214‑75... Amendment on review etc. ............................................................. 185
214‑80... Notice of amendments .................................................................... 185
214‑85... Validity of assessment .................................................................... 186
214‑90... Objections ....................................................................................... 186
214‑95... Evidence .......................................................................................... 186
214‑100. Due date for payment of franking tax ............................................. 186
214‑105. General interest charge .................................................................... 187
214‑110. Refunds of amounts overpaid ......................................................... 188
214‑115. Security for payment of tax ............................................................ 188
214‑120. Record keeping ............................................................................... 188
214‑125. Power of Commissioner to obtain information .............................. 188
214‑130. Tax agents ....................................................................................... 189
214‑135. Interpretation .................................................................................. 189
Division 219--Imputation for life insurance companies 190
219‑40... Reversing and replacing (on tax paid basis) certain franking credits that arose before 1 July 2002 190
219‑45... Reversing (on tax paid basis) certain franking debits that arose before 1 July 2002 191
Division 220--Imputation for NZ resident companies and related companies 192
220‑1..... Application to things happening on or after 1 April 2003 ............. 192
220‑5..... Residency requirement for income year including 1 April 2003 .... 192
220‑10... NZ franking company cannot frank before 1 October 2003 .......... 192
220‑35... Extended time to make NZ franking choice .................................... 192
220‑501. Franking and exempting accounts of new former exempting entities 193
Part 3‑10--Financial transactions 197
Division 247--Interim apportionment methodology for capital protected borrowings 197
247‑5..... Interim apportionment methodology ............................................. 197
247‑10... Products listed on the Australian Stock Exchange that have explicit put options 197
247‑15... Other capital protected products ................................................... 198
247‑20... The indicator method ...................................................................... 199
247‑25... The percentage method ................................................................... 199
Division 253--Financial claims scheme for account‑holders with insolvent ADIs 201
Subdivision 253‑A--Tax treatment of entitlements under financial claims scheme 201
253‑5..... Application of section 253‑5 of the Income Tax Assessment Act 1997 .. 201
253‑10... Application of sections 253‑10 and 253‑15 of the Income Tax Assessment Act 1997 201
Part 3‑30--Superannuation 202
Division 290--Contributions 202
290‑10... Directed termination payments not deductible etc. ........................ 202
290‑15... Early balancers--deduction limits from end of 2006‑2007 income year to 1 July 2007 202
Division 292--Excess contributions tax 204
292‑20... Concessional contributions cap for a financial year ....................... 204
292‑25... Excess directed termination payments included in concessional contributions 205
292‑80... Application of excess non‑concessional contributions tax from 10 May 2006 to 1 July 2007 205
292‑80A Transitional release authority ......................................................... 208
292‑80B Giving a transitional release authority to a superannuation provider 209
292‑80C Superannuation provider given transitional release authority must pay amount 209
292‑90... Non‑concessional contributions for a financial year ....................... 210
Division 295--Taxation of superannuation entities 211
Subdivision 295‑B--Modifications of the Income Tax Assessment Act 1997 for 30 June 1988 assets 211
295‑75... Application of Subdivision ............................................................. 211
295‑80... Meaning of 30 June 1988 asset ...................................................... 211
295‑85... Cost base of 30 June 1988 asset ..................................................... 212
295‑90... Market value of stock exchange listed assets ................................. 212
295‑95... Adjustment of cost base as at 30 June 1988--return of capital ..... 213
295‑100. Exercise of rights ............................................................................. 213
Subdivision 295‑C--Notices relating to contributions 214
295‑190. Deductions for personal contributions ........................................... 214
Subdivision 295‑F--Exempt income 215
295‑390. Fixed interest complying ADFs--exemption of income attributable to certain 25 May 1988 deposits 215
Subdivision 295‑G--Deductions 217
295‑465. Deductions for insurance premiums ............................................... 218
295‑485AMeaning of spouse and child for 2008‑2009 income year ............. 218
295‑485. Deductions for increased amount of superannuation lump sum death benefit 218
Subdivision 295‑I--No‑TFN contributions income 219
295‑610. No‑TFN contributions income ....................................................... 219
Division 301--Superannuation member benefits paid from complying plans etc. 220
301‑5..... Extended application to certain foreign superannuation funds ....... 220
301‑85... Extended meaning of disability superannuation benefit for superannuation income stream 220
Division 302--Superannuation death benefits paid from complying plans etc. 221
302‑5..... Extended application to certain foreign superannuation funds ....... 221
302‑195. Extended meaning of death benefits dependant for superannuation income stream 221
302‑195AMeaning of death benefits dependant for
2008‑2009 income
year
................................................................................................. 222
Division 303--Superannuation benefits paid in special circumstances 223
303‑10... Superannuation lump sum member benefit paid to member having a terminal medical condition 223
Division 304--Superannuation benefits in breach of legislative requirements etc. 224
304‑15... Excess payments from release authorities ...................................... 224
Division 306--Roll‑overs etc. 225
306‑10... Roll‑over superannuation benefit--directed termination payment 225
Division 307--Key concepts relating to superannuation benefits 226
307‑125. Treatment of tax free component of existing pension payments etc. 226
307‑290. Taxed and untaxed elements of death benefit superannuation lump sums 229
307‑345. Low rate component--Effect of rebate under the Income Tax Assessment Act 1936 229
Part 3‑32--Co‑operatives and mutual entities 230
Division 316--Demutualisation of friendly society health or life insurers 230
Subdivision 316‑A--Application 230
316‑1..... Application of Division 316 of the Income Tax Assessment Act 1997 230
Part 3‑35--Insurance business 231
Division 320--Life insurance companies 231
Operative provisions 231
Subdivision 320‑A--Preliminary 231
320‑5..... Life insurance companies that are friendly societies ...................... 231
Subdivision 320‑C--Deductions and capital losses 232
320‑85... Deduction for increase in value of liabilities under risk components of life insurance policies 232
Subdivision 320‑D--Taxable income and tax loss of life insurance companies 232
320‑100. Savings--tax losses of previous income years ............................... 233
Subdivision 320‑F--Virtual PST 233
320‑170. Transfer of part of an asset to a virtual PST .................................. 233
320‑175. Transfers of assets to virtual PST .................................................. 234
Subdivision 320‑H--Segregation of assets for the purpose of discharging exempt life insurance policies 234
320‑225. Transfer of part of an asset to segregated exempt assets ............... 235
320‑230. Transfers of assets to segregated exempt assets ............................. 235
320‑246. Exempt life insurance policy--extended meaning of roll‑over superannuation benefit 236
Division 322--Assistance for policyholders with insolvent general insurers 237
Subdivision 322‑B--Tax treatment of entitlements under financial claims scheme 237
322‑25... Application of section 322‑25 of the Income Tax Assessment Act 1997 237
322‑30... Application of section 322‑30 of the Income Tax Assessment Act 1997 237
Part 3‑45--Rules for particular industries and occupations 238
Division 328--Small business entities 238
328‑1..... Definitions ...................................................................................... 238
328‑110. Working out whether you are a small business entity for the 2007‑08 or 2008‑09 income year--turnover for earlier income years ................................................................................... 239
328‑111. Access to certain small business concessions for former STS taxpayers that are winding up a business 239
328‑112. Working out whether you are a small business entity for certain small business concessions--entities connected with you .................................................................................................. 240
328‑115. When you stop using the STS accounting method ......................... 241
328‑120. Continuing to use the STS accounting method ............................... 242
328‑125. Meaning of STS accounting method ............................................... 242
328‑175. Choices made in relation to depreciating assets used in primary production business 243
328‑185. Depreciating assets allocated to STS pools .................................... 243
328‑195. Opening pool balances for 2007‑08 income year ........................... 244
328‑440. Taxpayers who left the STS on or after 1 July 2005 ..................... 244
Division 375--Australian films 245
Subdivision 375‑G--Film losses 245
375‑100. Film component of tax loss for 1997‑98 or later income year ........ 245
375‑105. Film component of tax loss for 1989‑90 to 1996‑97 income years 245
375‑110. Film loss for 1989‑90 or later income year ..................................... 245
Division 392--Long‑term averaging of primary producers' tax liability 246
392‑1..... Application of Division 392 of the Income Tax Assessment Act 1997 246
392‑25... Transitional provision--election under section 158A of the Income Tax Assessment Act 1936 246
Division 410--Copyright collecting societies 247
410‑1..... Application of section 51‑43 of the Income Tax Assessment Act 1997 .. 247
Part 3‑90--Consolidated groups 248
Division 700--Application of Part 3‑90 of Income Tax Assessment Act 1997 248
700‑1..... Application of Part 3‑90 of Income Tax Assessment Act 1997 ...... 248
Division 701--Modified application of provisions of Income Tax Assessment Act 1997 for certain consolidated groups formed in 2002‑3 and 2003‑4 financial years 249
Subdivision 701‑A--Preliminary 249
701‑1..... Transitional group and transitional entity ...................................... 249
701‑5..... Chosen transitional entity .............................................................. 250
701‑7..... Working out the cost base or reduced cost base of a pre‑CGT asset after certain roll‑overs 251
701‑10... Interpretation .................................................................................. 252
Subdivision 701‑B--Modified application of provisions 252
701‑15... Tax cost and trading stock value not set for assets of chosen transitional entities 252
701‑20... Working out allocable cost amount on formation for subsidiary members other than chosen transitional entities 253
701‑25... No operation of value shifting and loss transfer provisions to membership interests in chosen transitional entities ........................................................................................................ 256
701‑32... No adjustment of amount of liabilities required in working out allocable cost amount 256
701‑34... CGT event L7 does not happen in respect of certain liabilities ..... 256
701‑35... Act, transaction or event giving rise to CGT event for pre‑formation roll‑over after 16 May 2002 to be disregarded if cost base etc. would be different .................................................... 256
701‑40... When entity leaves transitional group, head company may choose, for purposes of transitional group's allocable cost amount, to increase terminating values of over‑depreciated assets 258
701‑45... When entity leaves transitional group, head company may choose, for purposes of transitional group's allocable cost amount, to use formation time market values, instead of terminating values, for certain pre‑CGT assets 259
701‑50... Increased allocable cost amount for leaving entity if it takes privatised asset brought into group by chosen transitional entity .............................................................................................. 260
Division 701A--Modified application of provisions of Income Tax Assessment Act 1997 for entities with continuing majority ownership from 27 June 2002 until joining a consolidated group 263
701A‑1.. Continuing majority‑owned entity, designated group etc. ............. 263
701A‑5.. Modified application of Part 3‑90 of Income Tax Assessment Act 1997 to trading stock of continuing majority‑owned entity .............................................................................................. 264
701A‑10 Modified application of Part 3‑90 of Income Tax Assessment Act 1997 to certain internally generated assets of continuing majority‑owned entity .................................................. 264
Division 701B--Modified application of provisions of Income Tax Assessment Act 1997 relating to CGT event L1 270
701B‑1.. Modified application of CGT Consolidation provisions to allow immediate availability of capital loss for CGT event L1 .................................................................................................... 270
Division 701C --Modified application etc. of provisions of Income Tax Assessment Act 1997: transitional foreign‑held membership structures 272
Subdivision 701C‑A --Overview 272
701C‑1 .. Overview........................................................................................ 272
Subdivision 701C‑B --Membership rules allowing foreign holding 273
701C‑10 Additional membership rules where entities are interposed between the head company and a subsidiary member--case where an interposed entity is a foreign resident and the subsidiary member is a company 273
701C‑15 Additional membership rules where entities are interposed between the head company and a subsidiary member--case where an interposed entity is a foreign resident and the subsidiary member is a trust or partnership 275
701C‑20 Transitional foreign‑held subsidiaries and transitional foreign‑held indirect subsidiaries 276
Subdivision 701C‑C--Modifications of tax cost setting rules 277
Application and object 277
701C‑25 Application and object of this Subdivision .................................... 277
Basic modification 278
701C‑30 Transitional foreign‑held subsidiary to be treated as part of head company 278
Other modifications 279
701C‑35 Trading stock value not set for assets of transitional foreign‑held subsidiaries 279
701C‑40 Cost setting rules for exit cases--modification of core rules .......... 279
701C‑50 Cost setting rules for exit cases--reference to modification of core rule 279
Division 701D --Transitional foreign loss makers 281
Subdivision 701D‑A --Object of this Division 281
701D‑1 .. Object of this Division ................................................................... 281
Subdivision 701D‑B --Rules allowing transitional foreign loss makers to remain outside consolidated group 281
701D‑10 Transitional foreign loss maker not member of group if certain conditions satisfied 281
701D‑15 Choice to apply transitional rules to entity ................................... 283
Division 702--Modified application of this Act to assets that an entity brings into a consolidated group 285
702‑1..... Modified application of section 40‑77 of this Act to assets that an entity brings into a consolidated group 285
702‑4..... Extended operation of subsection 40‑285(3) .................................. 286
702‑5..... Modified application of subsection 40‑285(6) of this Act after entity brings assets into consolidated group 287
Division 703--Consolidated groups and their members 288
703‑30... Debt interests that are not membership interests ........................... 288
Division 705--Tax cost setting amount for assets where entities become members of consolidated groups 289
Subdivision 705‑E--Expenditure relating to exploration, mining or quarrying 289
705‑300. Application and object of this Subdivision .................................... 289
705‑305. Rules affecting depreciating assets ................................................. 290
705‑310. Adjustable value of head company's notional assets ..................... 292
Division 707--Losses for head companies when entities become members etc. 294
Subdivision 707‑A--Transfer of previously unutilised losses to head company 294
707‑145. Certain choices to cancel the transfer of a loss may be revoked ..... 294
Subdivision 707‑C--Amount of transferred losses that can be utilised 295
707‑325. Increasing the available fraction for a bundle of losses by increasing the real loss‑maker's modified market value ........................................................................................................ 295
707‑326. Events involving only value donor and real loss‑maker not covered by rule against inflation of modified market value ........................................................................................................ 298
707‑327. Choosing available fraction to apply to value donor's loss ............ 300
707‑328. Income year and conditions for possible transfer under Division 170 of the Income Tax Assessment Act 1997 302
707‑328ASome events involving only group members not
covered by
rule against inflation of modified market value
............................... 303
707‑329. Modified market value at a time before 8 December 2004 ............. 305
707‑350. Alternative loss utilisation regime to Subdivision 707‑C of the Income Tax Assessment Act 1997 305
707‑355. Ignore certain losses in working out when a choice can be made under this Subdivision 308
Subdivision 707‑D--Special rules about losses 308
707‑405. Special rules about losses referable to part of income year ............ 308
Division 709--Other rules applying when entities become subsidiary members etc. 309
Subdivision 709‑D--Deducting bad debts 309
709‑200. Application of Subdivision 709‑D of the Income Tax Assessment Act 1997 309
Division 712--Certain rules for where entities cease to be subsidiary members of consolidated groups 310
Subdivision 712‑E--Expenditure relating to exploration, mining or quarrying 310
712‑305. Reducing adjustable value of head company's notional asset ........ 310
Division 713--Rules for particular kinds of entities 311
Subdivision 713‑L--Transitional relief for certain transactions relating to life insurance companies 311
713‑500. Object of Subdivision ..................................................................... 311
713‑505. When this Subdivision applies (first case) ..................................... 311
713‑510. When this Subdivision applies (second case) ................................. 312
713‑515. Entities must choose the relief ........................................................ 313
713‑520. Conditions ...................................................................................... 313
713‑525. Time of transfer .............................................................................. 314
713‑530. What the relief is ............................................................................. 314
713‑535. Subsequent consequences ............................................................... 315
713‑540. Requirement to notify happening of new event ............................. 317
713‑545. Discount capital gain in certain cases ............................................. 317
Subdivision 713‑M--General insurance companies 317
713‑700. Application ..................................................................................... 317
Division 715--Interactions between the consolidation rules and other areas of the income tax law 318
Subdivision 715‑F--Interactions with Division 230 (financial arrangements) 318
715‑380. Exit history rule not to affect certain matters related to Division 230 financial arrangements 318
Subdivision 715‑J--Entry history rule and choices 319
715‑658. Application ..................................................................................... 319
715‑659. Extension of time for making choice if joining time was before commencement 319
Subdivision 715‑K--Exit history rule and choices 319
715‑698. Application ..................................................................................... 320
715‑699. Extension of time for making choice if leaving time was before commencement 320
Division 716--Miscellaneous special rules 321
Subdivision 716‑G--Software development pools 321
716‑340. Expenditure incurred before 1 July 2001 and allocated to a software pool 321
Division 719--MEC rules 322
Subdivision 719‑A--Modified application of Part 3‑90 to MEC groups 322
719‑2..... Modified application of Part 3‑90 to MEC groups ....................... 322
Subdivision 719‑B--MEC groups and their members 322
719‑5..... Debt interests that are not membership interests ........................... 323
719‑10... Effect of Division 701C .................................................................. 323
719‑15... Modified effect of subsection 701D‑10(2) ..................................... 323
Subdivision 719‑C--Cost setting 323
719‑160. Transitional cost setting rules on joining have effect with modifications 324
719‑161. Modified effect of section 701‑1 .................................................... 324
719‑163. Modified effect of section 701‑35 .................................................. 325
719‑165. Modified effect of paragraph 701‑45(1)(b) .................................... 325
Subdivision 719‑F--Losses 326
719‑305. Available fraction for bundle of losses not affected by concessional rules 326
719‑310. Certain choices may be revoked ..................................................... 326
Subdivision 719‑I--Bad debts 326
719‑450. Application of Subdivision 719‑I of the Income Tax Assessment Act 1997 326
Part 3‑95--Value shifting 327
Division 723--Direct value shifting by creating right over non‑depreciating asset 327
723‑1..... Application of Division 723 ........................................................... 327
Division 725--Direct value shifting affecting interests in companies and trusts 328
725‑1..... Application of Division 725 ........................................................... 328
Division 727--Indirect value shifting affecting interests in companies and trusts, and arising from non‑arm's length dealings 329
727‑1..... Application of Division 727 ........................................................... 329
727‑230. Transitional exclusion for certain indirect value shifts relating mainly to services 330
727‑470. Affected interests do not include equity or loan interests owned by entity that is eligible to be an STS taxpayer ........................................................................................................ 331
Chapter 4--International aspects of income tax 332
Part 4‑5--General 332
Division 770--Foreign income tax offsets and foreign losses 332
Subdivision 770‑A--Transitional foreign losses (common rules) 332
Converting an overall foreign loss into a type of tax loss 333
770‑1..... Converting a past foreign loss into a tax loss ................................. 333
770‑5..... Convertible foreign loss .................................................................. 334
770‑10... Reducing an unutilised overall foreign loss amount ........................ 334
Utilising transitional foreign losses 335
770‑15... No special rules if convertible foreign losses total less than or equal to $10,000 or choice made 335
770‑20... Starting total for loss parcel ............................................................ 335
770‑25... Tax loss has foreign loss component .............................................. 336
770‑30... Deduction limit for foreign loss component ................................... 336
770‑35... Offset limit to take account of deducted foreign loss component .. 337
Subdivision 770‑B--Transitional foreign losses (special rules for consolidated groups) 338
770‑80... Transferred losses taken not to be refreshed for purposes of converting overall foreign loss 338
770‑85... Deduction limit not to restrict transfer of losses ............................ 339
770‑90... Transfer of losses not restricted where part of trial year occurs before commencement year 339
770‑95... Foreign loss component and starting total retained after transfer to head company 339
770‑100. Limit where foreign loss component utilised by joining entity ...... 340
770‑105. Modified operation of Subdivision 707‑C of the 1997 Act for foreign loss component 340
770‑110. Application of Subdivision to MEC groups .................................. 341
Subdivision 770‑C--Transitional foreign losses (special rules for CFCs) 341
770‑160. Converting a past CFC loss ............................................................ 341
770‑165. Convertible CFC loss ..................................................................... 342
770‑170. Reducing an unutilised CFC loss amount ....................................... 343
Subdivision 770‑D--Transitional foreign income tax offsets (common rules) 343
770‑220. Converting excess foreign tax credits into pre‑commencement excess foreign income tax 343
770‑225. Pre‑commencement excess foreign income tax generated for a company by excess foreign tax credits relating to other income ............................................................................................. 345
770‑230. Increase in the foreign income tax offset ......................................... 345
Subdivision 770‑E--Transitional foreign income tax offsets (special rules for consolidated groups) 346
770‑285. Objects of this Subdivision ............................................................. 346
770‑290. Transferring subsidiary member's pre‑commencement excess foreign income tax to head company 347
770‑295. Where entity not subsidiary member for whole of income year .... 347
770‑300. Pre‑commencement excess foreign income tax lost on joining consolidated group 348
770‑305. Exit history rule does not treat leaving entity as having pre‑commencement excess foreign income tax 348
770‑310. Application of Subdivision to MEC groups .................................. 349
Division 820--Application of the thin capitalisation rules 350
820‑10... Application of Division 820 of the Income Tax Assessment Act 1997 350
820‑12... Application of Division 974 of the Income Tax Assessment Act 1997 for the purposes of Division 820 of that Act ........................................................................................................ 350
820‑45... Transitional provision--accounting standards and prudential standards 350
Division 830--Application of the foreign hybrid rules 352
830‑1..... Standard application ....................................................................... 352
830‑15... Modified version of income tax law to apply for certain past income years 353
830‑20... Modifications of income tax law .................................................... 355
Division 840--Withholding taxes 357
Subdivision 840‑M--Managed investment trust amounts 357
840‑805. Managed investment trust amounts ............................................... 357
840‑810. Payment of tax under section 840‑805 ........................................... 358
Chapter 5--Administration 359
Part 5‑35--Miscellaneous 359
Division 909--Regulations 359
909‑1..... Regulations ..................................................................................... 359
Chapter 6--The Dictionary 360
Part 6‑1--Concepts and topics 360
Division 960--General 360
Subdivision 960‑E--Entities 360
960‑100. Effect of this Subdivision ............................................................... 360
960‑105. Entities, and members of entities, benefiting from the application of this Subdivision 360
960‑110. No taxation consequences to result from changes to managed investment scheme 361
960‑115. Certain entities treated as agents .................................................... 362
Subdivision 960‑M--Indexation 362
960‑262. Application of Subdivision 960‑M of the Income Tax Assessment Act 1997 362
960‑275. Indexation factor ............................................................................. 363
Notes 365
An Act setting out application and transitional provisions for the Income Tax Assessment Act 1997
Table of sections 1‑1 Short title 1‑5 Commencement 1‑7 Administration of this Act 1‑10 Expressions mean the same as in
the Income Tax Assessment Act 1997
Notes to
the
Income Tax (Transitional Provisions) Act
1997 Note 1 The Income Tax (Transitional Provisions) Act 1997 as
shown in this compilation comprises Act No. 40, 1997 amended as indicated
in the Tables below. For all relevant information pertaining to application, saving
or transitional provisions see Table A. Table of Acts
|
Act |
Number |
Date |
Date of commencement |
Application, saving or transitional provisions |
|
40, 1997 |
17 Apr 1997 |
1 July 1997 |
|
|
|
121, 1997 |
8 July 1997 |
Schedule 2 (items 1, 2), Schedule 3 (items 1, 2), Schedule 4 (items 1-4), Schedule 5 (items 1, 2), Schedule 6 (items 1, 2), Schedule 7 (item 1), Schedule 8 (item 1) , Schedule 9 (items 1, 2), Schedule 10 (item 1) and Schedule 11 (item 1): (a) |
S. 4 |
|
|
Child Care Payments (Consequential Amendments and Transitional Provisions) Act 1997 |
196, 1997 |
8 Dec 1997 |
Schedule 1 (item 21): 8 Dec 1997 (b) |
-- |
|
16, 1998 |
16 Apr 1998 |
Schedule 7: Royal Assent (c) |
Sch. 7 (item 6) |
|
|
46, 1998 |
22 June 1998 |
Schedule 2 |
S. 4 and Sch. 9 (item 8) |
|
|
54, 1999 |
5 July 1999 |
Schedule 4 (items 6-10): Royal Assent (e) |
Sch. 4 (item 10) |
|
|
A New Tax System (Family Assistance) (Consequential and Related Measures) Act (No. 2) 1999 |
83, 1999 |
8 July 1999 |
Schedule 10 (items 64, 68(1)): 1 July 2000 (f) |
Sch. 10 (item 68(1)) |
|
as amended by |
|
|
|
|
|
Family and Community Services Legislation Amendment (1999 Budget and Other Measures) Act 1999 |
172, 1999 |
10 Dec 1999 |
Schedule 2 (item 1): (fa) |
-- |
|
93, 1999 |
16 July 1999 |
Schedule 3 (item 25, 33(1)): Royal Assent (g) |
Sch. 3 (item 33(1)) |
|
|
94, 1999 |
16 July 1999 |
Schedule 5 (items 4, 35): Royal Assent (h) |
Sch. 5 (item 35) |
|
|
117, 1999 |
22 Sept 1999 |
Schedule 2 (item 1): Royal Assent (i) |
-- |
|
|
New Business Tax System (Integrity and Other Measures) Act 1999 |
169, 1999 |
10 Dec 1999 |
Schedule 1 (items 14-18): Royal Assent (j) |
Sch. 1 (item 18) |
|
66, 2000 |
22 June 2000 |
Schedule 1: (k) |
-- |
|
|
89, 2000 |
30 June 2000 |
S. 4 and Schedule 2 (items 85-88): Royal Assent (l) |
S. 4 and Sch. 2 (item 88) |
|
|
114, 2000 |
5 Sept 2000 |
Schedule 4 (items 43, 44): 1July 1998 |
Sch. 4 (item 82) |
|
|
173, 2000 |
21 Dec 2000 |
Schedule 4 (items 60-64, 65(1)): Royal Assent (m) |
Sch. 4 (item 65(1)) |
|
|
New Business Tax System (Capital Allowances--Transitional and Consequential) Act 2001 |
77, 2001 |
30 June 2001 |
Schedule 1: Royal Assent (n) |
-- |
|
162, 2001 |
1 Oct 2001 |
Schedule 1 (items 20-22): 1 July 2001 (o) |
-- |
|
|
170, 2001 |
1 Oct 2001 |
Schedule 2 (item 3): Royal Assent (p) |
-- |
|
|
48, 2002 |
29 June 2002 |
29 June 2002 |
-- |
|
|
53, 2002 |
29 June 2002 |
Schedules 3 and 4: 1 July 2002 |
Sch. 1 (item 46) |
|
|
68, 2002 |
22 Aug 2002 |
24 Oct 2002 (see s. 2) |
-- |
|
|
New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 |
90, 2002 |
24 Oct 2002 |
S. 4: Royal Assent |
S. 4 and Sch. 14 (item 19) |
|
as amended by |
|
|
|
|
|
67, 2003 |
30 June 2003 |
Schedule 8 (items 2, 3): Royal Assent |
Sch. 8 (item 3) |
|
|
New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 |
117, 2002 |
2 Dec 2002 |
Schedule 3 (item 8): (r) |
Sch. 12 (items 25, 28) |
|
119, 2002 |
2 Dec 2002 |
Schedule 1 (items 1, 8): Royal Assent |
Sch. 1 (item 8) |
|
|
Taxation Laws Amendment (Structured Settlements and Structured Orders) Act 2002 |
139, 2002 |
19 Dec 2002 |
19 Dec 2002 |
-- |
|
New Business Tax System (Consolidation and Other Measures) Act 2003 |
16, 2003 |
11 Apr 2003 |
Schedule 1 (items 7, 8, 27-36), Schedule 6
(item 10), Schedule 11 (item 4), Schedule 15, Schedule 16
(items 4, 5), Schedule 17 and Schedule 19 (items 4, 5): (t) |
Sch. 26 (item 8) |
|
65, 2003 |
30 June 2003 |
Schedule 3 (items 6-8): Royal Assent |
-- |
|
|
66, 2003 |
30 June 2003 |
Schedule 2 (items 6-17) and Schedule 3
(item 132): Royal Assent |
Sch. 2 (item 17) and Sch. 3 (item |
|
|
67, 2003 |
30 June 2003 |
Schedule 5 (items 4-10), Schedules 6 and
7: (v) |
-- |
|
|
101, 2003 |
14 Oct 2003 |
Schedule 2 (items 13-16): Royal Assent |
Sch. 2 (item 16) |
|
|
107, 2003 |
21 Oct 2003 |
Schedule 2 (items 6, 13, 14, 35-37, 40) and Schedule 7 (item 10): Royal Assent |
Sch. 2 (item 40) |
|
|
20, 2004 |
23 Mar 2004 |
Schedule 6: 1 July 2000 |
Sch. 8 (item 14) |
|
|
Tax Laws Amendment (2004 Measures No. 2) Act 2004 |
83, 2004 |
25 June 2004 |
Schedule 1 (items 80-83): (w) |
Sch. 2 (item 1) |
|
101, 2004 |
30 June 2004 |
S. 4, Schedule 10 (item 38) and Schedule 11
(item 154): Royal Assent |
S. 4 |
|
|
Tax Laws Amendment (2004 Measures No. 6) Act 2005 |
23, 2005 |
21 Mar 2005 |
Schedule 1 (items 1, 9, 10, 12, 20, 25, 28),
Schedule 2 (item 12) and Schedule 12 (item 11): Royal
Assent |
Sch. 1 (item 1) and Sch. 12 (item 11) |
|
Tax Laws Amendment (2004 Measures No. 7) Act 2005 |
41, 2005 |
1 Apr 2005 |
S. 4, Schedule 2 (items 10, 11), Schedule 6 (items 1, 4, 16, 29-35) and Schedule 10 (items 222, 223, 274): Royal Assent |
S. 4, Sch. 2 (item 11) and Sch. 6 (item 1) |
|
New International Tax Arrangements (Foreign‑owned Branches and Other Measures) Act 2005 |
64, 2005 |
26 June 2005 |
Schedule 3 (items 38, 39): Royal Assent |
Sch. 3 (item 39) |
|
Tax Laws Amendment (2005 Measures No. 2) Act 2005 |
78, 2005 |
29 June 2005 |
29 June 2005 |
Sch. 3 (item 5) |
|
Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Act 2005 |
147. 2005 |
14 Dec 2005 |
Schedule 5 (items 15, 17, 18): Royal Assent |
-- |
|
Tax Laws Amendment (Improvements to Self Assessment) Act (No. 2) 2005 |
161, 2005 |
19 Dec 2005 |
Schedule 1 (item 74): Royal Assent |
-- |
|
Tax Laws Amendment (2005 Measures No. 5) Act 2005 |
162, 2005 |
19 Dec 2005 |
Schedule 3 (items 20-33) and Schedule 4: Royal Assent |
Sch. 3 (item 33) |
|
Tax Laws Amendment (2006 Measures No. 1) Act 2006 |
32, 2006 |
6 Apr 2006 |
6 Apr 2006 |
Sch. 2 (item 51(2)) |
|
Tax Laws Amendment (Personal Tax Reduction and Improved Depreciation Arrangements) Act 2006 |
55, 2006 |
19 June 2006 |
Schedules 1, 3 and 4: 1 July 2006 |
-- |
|
Tax Laws Amendment (2006 Measures No. 2) Act 2006 |
58, 2006 |
22 June 2006 |
Schedule 3 (items 4-7) and Schedule 7
(items 120-124): Royal Assent |
Sch. 3 (item 7) |
|
Tax Laws Amendment (2006 Measures No. 3) Act 2006 |
80, 2006 |
30 June 2006 |
Schedule 4 (item 2) and Schedule 6 (item 8): Royal Assent |
-- |
|
Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006 |
101, 2006 |
14 Sept 2006 |
Schedules 3 and 4: 1 Jan 2008 |
Sch. 6 (items 1, 4, 6-11) |
|
Tax Laws Amendment (2006 Measures No. 4) Act 2006 |
168, 2006 |
12 Dec 2006 |
Schedule 3 (items 3-5): 13 Dec 2005 |
Sch. 2 (item 8) and Sch. 4 (item 112) |
|
9, 2007 |
15 Mar 2007 |
Schedule 1 (item 25) and Schedule 2 (item 3): Royal Assent |
-- |
|
|
Superannuation Legislation Amendment (Simplification) Act 2007 |
15, 2007 |
15 Mar 2007 |
Schedule 1 (items 261-272, 406(1)-(3)): (z) |
Sch. 1 (item 406(1)-(3)) and Sch. 3 (item 66) |
|
Tax Laws Amendment (2006 Measures No. 7) Act 2007 |
55, 2007 |
12 Apr 2007 |
12 Apr 2007 |
Sch. 1 (item 68) and Sch. 7 (item 5) |
|
Tax Laws Amendment (2007 Measures No. 3) Act 2007 |
79, 2007 |
21 June 2007 |
Schedule 2: (za) |
-- |
|
80, 2007 |
21 June 2007 |
21 June 2007 |
Sch. 3 (item 176) and Sch. 8 (item 9) |
|
|
Tax Laws Amendment (2007 Measures No. 4) Act 2007 |
143, 2007 |
24 Sept 2007 |
Schedule 1 (items 5, 195-205, 222, 225, 226), Schedule
5 (items 18-25, 48(1), (2)) and Schedule 7 (items 97, 98): Royal Assent |
Sch. 1 (items 222,225, 226) and Sch. 5 (item 48(1), (2)) |
|
Tax Laws Amendment (2007 Measures No. 5) Act 2007 |
164, 2007 |
25 Sept 2007 |
Schedule 7 (items 4, 13, 14): Royal Assent |
Sch. 7 (item 14) (am. by 88, 2009, Sch. 5 [item 343]) |
|
as amended by |
|
|
|
|
|
Tax Laws Amendment (2009 Measures No. 4) Act 2009 |
88, 2009 |
18 Sept 2009 |
Schedule 5 (item 343): Royal Assent |
-- |
|
Workplace Relations Amendment (Transition to Forward with Fairness) Act 2008 |
8, 2008 |
20 Mar 2008 |
Schedules 1-7: 28 Mar 2008 (see F2008L00959) |
-- |
|
Tax Laws Amendment (Election Commitments No. 1) Act 2008 |
32, 2008 |
23 June 2008 |
Schedule 1 (items 23, 58): Royal Assent |
Sch. 1 (item 58) |
|
Tax Laws Amendment (2008 Measures No. 2) Act 2008 |
38, 2008 |
24 June 2008 |
Schedule 7 (items 4, 5): Royal Assent |
Sch. 7 (item 5) |
|
Tax Laws Amendment (2008 Measures No. 4) Act 2008 |
97, 2008 |
3 Oct 2008 |
Schedule 3 (item 175): Royal Assent |
-- |
|
Same‑Sex Relationships (Equal Treatment in Commonwealth Laws--Superannuation) Act 2008 |
134, 2008 |
4 Dec 2008 |
Schedule 4 (items 18, 19): 1 July 2008 |
-- |
|
Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009 |
15, 2009 |
26 Mar 2009 |
Schedule 1 (items 98-100): Royal Assent |
-- |
|
Tax Laws Amendment (2009 Measures No. 2) Act 2009 |
42, 2009 |
23 June 2009 |
Schedule 1 (items 27-29): Royal Assent |
-- |
|
Fair Work (State Referral and Consequential and Other Amendments) Act 2009 |
54, 2009 |
25 June 2009 |
Schedule 18 (item 10): (zb) |
-- |
|
Tax Laws Amendment (2009 Budget Measures No. 1) Act 2009 |
62, 2009 |
29 June 2009 |
Schedule 3 (item 11): Royal Assent |
-- |
|
Tax Laws Amendment (2009 Measures No. 4) Act 2009 |
88, 2009 |
18 Sept 2009 |
Schedule 3 (item 24) and Schedule 5 (items 205-208, 259-282): Royal Assent |
Sch. 5 (item 282) |
(a) The Income Tax (Transitional Provisions) Act 1997 was amended by Schedule 2 (items 1 and 2), Schedule 3 (items 1 and 2), Schedule 4 (items 1-4), Schedule 5 (items 1 and 2), Schedule 6 (items 1 and 2), Schedule 7 (item 1), Schedule 8 (item 1), Schedule 9 (items 1 and 2), Schedule 10 (item 1) and Schedule 11 (item 1) only of the Tax Law Improvement Act 1997, subsections 2(2) and (3) of which provide as follows:
(2) Schedule 1 commences on 1 July 1997 immediately after the commencement of the Income Tax Assessment Act 1997.
(3) Each of the other Schedules (except Schedule 12) commences immediately after the commencement of the immediately preceding Schedule.
(b) The Income Tax (Transitional Provisions) Act 1997 was amended by Schedule 1 (item 21) only of the Child Care Payments (Consequential Amendments and Transitional Provisions) Act 1997, subsection 2(5) of which provides as follows:
(5) Items 11, 17, 18, 19, 20, 21 and 41 of Schedule 1 commence on the commencement of the Child Care Payments Act 1997.
(c) The Income Tax (Transitional Provisions) Act 1997 was amended by Schedule 7 of the Taxation Laws Amendment Act (No. 1) 1998, subsection 2(1) of which provides as follows:
(1) Subject to subsection (2), this Act commences on the day on which it receives the Royal Assent.
(d) The Income Tax (Transitional Provisions) Act 1997 was amended by Schedule 2 (items 1-3), Schedule 3 (items 1 and 2), Schedule 4 (item 1), Schedule 5 (items 1 and 2), Schedule 6 (item 1), Schedule 7 (item 1), Schedule 8 (item 1) and Schedule 9 (item 1) only of the Tax Law Improvement Act (No. 1) 1998, subsections 2(2) to (5) of which provide as follows:
(2) Schedule 2 (except item 3 of it) commences immediately after the commencement of Schedule 1.
(3) Schedule 3 commences immediately after the commencement of Schedule 2 (except item 4 of it).
(4) Each of Schedules 4 to 8 commences immediately after the commencement of the immediately preceding Schedule.
(5) Item 3 of Schedule 2 commences immediately after the commencement of Schedule 8.
Schedule 1 commenced on Royal Assent.
(e) The Income Tax (Transitional Provisions) Act 1997 was amended by Schedule 4 (items 6-9) only of the Taxation Laws Amendment Act (No. 6) 1999, subsection 2(1) of which provides as follows:
(1) Subject to subsection (2), this Act commences on the day on which it receives the Royal Assent.
(f) The Income Tax (Transitional Provisions) Act 1997 was amended by Schedule 10 (item 64) only of the A New Tax System (Family Assistance) (Consequential and Related Measures) Act (No. 2) 1999, subsection 2(2) of which provides as follows:
(2) Schedule 1 (Parts 1 to 5), Schedules 3 to 6, Schedule 7 (other than item 14), Schedules 8 and 9, Schedule 10 (other than items 22, 63, 66 and 67) and Schedule 11 (items 3 and 4 only) commence, or are taken to have commenced, on the commencement of Schedule 1 to the A New Tax System (Family Assistance) (Consequential and Related Measures) Act (No. 1) 1999.
(fa) The A New Tax System (Family Assistance) (Consequential and Related Measures) Act (No. 2) 1999 was amended by Schedule 2 (item 1) only of the Family and Community Services Legislation Amendment (1999 Budget and Other Measures) Act 1999, subsection 2(4) of which provides as follows:
(4) Schedule 2 commences, or is taken to have commenced, immediately after the commencement of section 2 of the A New Tax System (Family Assistance) (Consequential and Related Measures) Act (No. 2) 1999.
Section 2 commenced on 8 July 1999.
(g) The Income Tax (Transitional Provisions) Act 1997 was amended by Schedule 3 (item 25) only of the Taxation Laws Amendment Act (No. 2) 1999, subsection 2(1) of which provides as follows:
(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.
(h) The Income Tax (Transitional Provisions) Act 1997 was amended by Schedule 5 (item 4) only of the Taxation Laws Amendment Act (No. 4) 1999, subsection 2(1) of which provides as follows:
(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.
(i) The Income Tax (Transitional Provisions) Act 1997 was amended by Schedule 2 (item 1) only of the Taxation Laws Amendment Act (No. 7) 1999, subsection 2(1) of which provides as follows:
(1) Subject to subsection (2), this Act commences on the day on which it receives the Royal Assent.
(j) The Income Tax (Transitional Provisions)
Act 1997 was amended by Schedule 1 (items
14-17) and Schedule 5 (items 13 and 14) only of the New Business
Tax System (Integrity and Other Measures) Act 1999, subsections 2(1) and
(2) of which provide as follows:
(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.
(2) Schedule 5 is taken to have commenced on 22 February 1999.
(k) The Income Tax (Transitional Provisions) Act 1997 was amended by Schedule 1 only of the Taxation Laws Amendment Act (No. 3) 2000, subsection 2(2) of which provides as follows:
(2) Schedule 1 is taken to have commenced immediately after the Taxation Laws Amendment Act (No. 7) 1999 received the Royal Assent.
The Taxation Laws Amendment Act (No. 7) 1999 received the Royal Assent on 22 September 1999.
(l) The Income Tax (Transitional Provisions)
Act 1997 was amended by Schedule 2 (items
85-87) only of the New Business Tax System (Miscellaneous) Act (No. 2)
2000, subsection 2(1) of which provides as follows:
(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.
(m) The Income Tax (Transitional Provisions)
Act 1997 was amended by Schedule 4 (items
60-64) only of the Taxation Laws Amendment Act (No. 7) 2000,
subsection 2(1) of which provides as follows:
(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.
(n) The Income Tax (Transitional Provisions) Act 1997 was amended by Schedule 1 only of the New Business Tax System (Capital Allowances--Transitional and Consequential) Act 2001, subsection 2(1) of which provides as follows:
(1) Subject to subsection (2), this Act commences on the day on which it receives the Royal Assent.
(o) The Income Tax (Transitional Provisions)
Act 1997 was amended by Schedule 1 (items
20-22) only of the New Business Tax System (Thin Capitalisation) Act 2001,
subsection 2(1) of which provides as follows:
(1) Subject to subsections (2) and (3), this Act is taken to have commenced on 1 July 2001, immediately after the commencement of the New Business Tax System (Debt and Equity) Act 2001.
(p) The Income Tax (Transitional Provisions) Act 1997 was amended by Schedule 2 (item 3) only of the Taxation Laws Amendment (Research and Development) Act 2001, subsection 2(1) of which provides as follows:
(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.
(q) Subsection 2(1) (items 2 and 4) of the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, on the day or at the time specified in column 2 of the table.
|
Commencement information |
||
|
Column 1 |
Column 2 |
Column 3 |
|
Provision(s) |
Commencement |
Date/Details |
|
2. Schedules 1 to 12 |
Immediately after the commencement of the New Business Tax System (Consolidation) Act (No. 1) 2002 |
24 October 2002 |
|
4. Schedules 14 and 15 |
Immediately after the commencement of the New Business Tax System (Consolidation) Act (No. 1) 2002 |
24 October 2002 |
(r) Subsection 2(1) (items 4, 7-9 and 11) of the New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, on the day or at the time specified in column 2 of the table.
|
Provision(s) |
Commencement |
Date/Details |
|
4. Schedule 3, Part 3 |
Immediately after the commencement of Schedule 10 to this Act |
24 October 2002 |
|
7. Schedule 5, item 13 |
Immediately after the commencement of Schedule 10 to this Act |
24 October 2002 |
|
8. Schedule 5, item 14 |
Immediately after the commencement of Schedule 1 to the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 |
24 October 2002 |
|
9. Schedules 6 to 15 |
Immediately after the commencement of Schedule 1 to the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 |
24 October 2002 |
|
11. Schedules 17 and 18 |
Immediately after the commencement of the New Business Tax System (Imputation) Act 2002 |
29 June 2002 |
(s) Subsection 2(1) (item 9) of the Taxation Laws Amendment Act (No. 5) 2002 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, on the day or at the time specified in column 2 of the table.
|
Provision(s) |
Commencement |
Date/Details |
|
9. Items 79 to 99 of Schedule 3 |
Immediately after the commencement of section 2 of the New Business Tax System (Capital Allowances--Transitional and Consequential) Act 2001 |
30 June 2001 |
(t) Subsection 2(1) (items 2, 4, 7, 10, 11, 15 and 17) of the New Business Tax System (Consolidation and Other Measures) Act 2003 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, on the day or at the time specified in column 2 of the table.
|
Provision(s) |
Commencement |
Date/Details |
|
2. Schedules 1 to 3 |
Immediately after the commencement of Schedule 1 to the New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 |
24 October 2002 |
|
4. Schedules 5 to 8 |
Immediately after the commencement of Schedule 1 to the New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 |
24 October 2002 |
|
7. Schedules 11 to 13 |
Immediately after the commencement of Schedule 1 to the New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 |
24 October 2002 |
|
10. Schedules 15 to 18 |
Immediately after the commencement of Schedule 1 to the New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 |
24 October 2002 |
|
11. Schedule 19, items 1 to 6 |
Immediately after the commencement of Schedule 1 to the New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 |
24 October 2002 |
|
15. Schedules 25 to 27 |
Immediately after the commencement of Schedule 13 to the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 |
29 June 2002 |
|
17. Schedule 28, items 2 to 18 |
Immediately after the commencement of Schedule 27 to this Act |
29 June 2002 |
(u) Subsection 2(1) (item 13) of the Taxation Laws Amendment Act (No. 4) 2003 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, on the day or at the time specified in column 2 of the table.
|
Provision(s) |
Commencement |
Date/Details |
|
13. Schedule 3, item 133 |
The later of: (a) immediately after the commencement of Schedule 3 to the Taxation Laws Amendment Act (No. 2) 2003; and (b) the day on which this Act receives the Royal Assent |
30 June 2003 (paragraph (a) applies) |
(v) Subsection 2(1) (item 3) of the Taxation Laws Amendment Act (No. 6) 2003 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, on the day or at the time specified in column 2 of the table.
|
Provision(s) |
Commencement |
Date/Details |
|
3. Schedules 3 to 7 |
Immediately after the commencement of Schedule 1 to the New Business Tax System (Consolidation and Other Measures) Act 2003 |
24 October 2002 |
(w) Subsection 2(1) (items 2 and 15) of the Tax Laws Amendment (2004 Measures No. 2) Act 2004 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
2. Schedule 1, items 1 to 84
|
Immediately after the commencement of item 84 of Schedule 2 to the New Business Tax System (Miscellaneous) Act (No. 2) 2000. |
30 June 2000 |
|
15. Schedule 2, item 9 |
The provision(s) do not commence at all unless the Bill introduced into the Parliament as the Taxation Laws Amendment Bill (No. 7) 2003 is enacted (with or without amendments), in which case the provision(s) are taken to have commenced immediately after the commencement of Schedule 5 to that Act. |
24 October 2002 |
(x) Subsection 2(1) (items 6 and 8) of the Taxation Laws Amendment Act (No. 1) 2004 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, on the day or at the time specified in column 2 of the table.
|
Provision(s) |
Commencement |
Date/Details |
|
6. Schedule 5 |
Immediately after the commencement of Schedule 16 to the New Business Tax System (Consolidation and Other Measures) Act 2003 |
24 October 2002 |
|
8. Schedule 7 |
Immediately after the commencement of Part 1 of Schedule 10 to the Taxation Laws Amendment Act (No. 6) 2003 |
30 June 2003 |
(y) Subsection 2(1) (items 3 and 4) of the Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Act 2005 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
3. Schedule 5, items 1 to 15 |
The day on which this Act receives the Royal Assent. |
14 December 2005 |
|
4. Schedule 5, item 16 |
Immediately after the commencement of the provision(s) covered by table item 3. |
15 December 2005 |
(z) Subsection 2(1) (items 2 and 10) of the Superannuation Legislation Amendment (Simplification) Act 2007 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
2. Schedule 1 |
Immediately after the commencement of Schedule 1 to the Tax Laws Amendment (Simplified Superannuation) Act 2007. |
15 March 2007 |
|
10. Schedule 4, item 10 |
The later of: (a) immediately after the commencement of item 2 of Schedule 7 to the Tax Laws Amendment (2006 Measures No. 7) Act 2007; and (b) immediately after the commencement of item 25 of Schedule 1 to the Tax Laws Amendment (Simplified Superannuation) Act 2007. |
12 April 2007 (paragraph (a) applies) |
(za) Subsection 2(1) (item 3) of the Tax Laws Amendment (2007 Measures No. 3) Act 2007 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
3. Schedule 2 |
Immediately after the commencement of Schedule 1 to the Tax Laws Amendment (Simplified Superannuation) Act 2007. |
15 March 2007 |
(zb) Subsection 2(1) (item 41) of the Fair Work (State Referral and Consequential and Other Amendments) Act 2009 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
41. Schedule 18 |
Immediately after the commencement of Part 2‑4 of the Fair Work Act 2009. |
1 July 2009 (see F2009L02563) |
Table of Amendments
|
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted |
|
|
Provision affected |
How affected |
|
Chapter 1 |
|
|
Part 1‑1 |
|
|
Division 1 |
|
|
S. 1-7................................... |
ad. No. 97, 2008 |
|
Link note to s. 1-10.............. |
rep. No. 41, 2005 |
|
Part 1‑3 |
|
|
Link note to Part 1-3 ............ |
rep. No. 41, 2005 |
|
Division 8 |
|
|
Link note to s. 8-10.............. |
rep. No. 41, 2005 |
|
Chapter 2 |
|
|
Link note to Chapt. 2............ |
rep. No. 121, 1997 |
|
Part 2‑1 |
|
|
Part 2‑1 ............................... |
ad. No. 121, 1997 |
|
Link note to Part 2‑1 ............ |
rep. No. 41, 2005 |
|
Division 15 |
|
|
S. 15‑1................................. |
ad. No. 121, 1997 |
|
S. 15‑10............................... |
ad. No. 121, 1997 |
|
ad. No. 121, 1997 |
|
|
S. 15‑20............................... |
ad. No. 121, 1997 |
|
Link note to s. 15‑20 ........... |
rep. No. 41, 2005 |
|
S. 15‑30............................... |
ad. No. 121, 1997 |
|
S. 15‑35............................... |
ad. No. 121, 1997 |
|
Link note to s. 15‑35 ........... |
rep. No. 41, 2005 |
|
Division 20 |
|
|
Subdivision 20‑A |
|
|
S. 20‑1................................. |
ad. No. 121, 1997 |
|
|
am. No. 101, 2006 |
|
S. 20‑5................................. |
ad. No. 121, 1997 |
|
|
am. No. 46, 1998; No. 54, 1999 |
|
|
rep. No. 101, 2006 |
|
Subdivision 20‑B |
|
|
S. 20‑100............................. |
ad. No. 121, 1997 |
|
S. 20‑105............................. |
ad. No. 121, 1997 |
|
|
am. No. 101, 2006 |
|
Note (2) to s. 20-105(1)....... |
am. No. 101, 2006 |
|
S. 20‑110............................. |
ad. No. 121, 1997 |
|
|
am. No. 101, 2006 |
|
S. 20‑115............................. |
ad. No. 121, 1997 |
|
|
am. No. 101, 2006 |
|
Link note to s. 20‑115.......... |
ad. No. 65, 2003 |
|
|
am. No. 66, 2003 |
|
|
rep. No. 41, 2005 |
|
Division 22............................ |
ad. No. 65, 2003 |
|
|
rep. No. 66, 2003 |
|
S. 22‑5................................. |
ad. No. 65, 2003 |
|
|
rep. No. 41, 2005 |
|
Part 2‑5 |
|
|
Link note to Part 2‑5............. |
rs. No. 121, 1997 |
|
|
rep. No. 65, 2003 |
|
Division 25 |
|
|
Division 25............................ |
ad. No. 121, 1997 |
|
S. 25‑1................................. |
ad. No. 121, 1997 |
|
Link note to s. 25‑1 ............. |
rep. No. 41, 2005 |
|
S. 25‑40............................... |
ad. No. 121, 1997 |
|
S. 25‑45............................... |
ad. No. 121, 1997 |
|
S. 25‑50 .............................. |
ad. No. 162, 2001 |
|
S. 25‑65 .............................. |
ad. No. 101, 2006 |
|
Division 26 |
|
|
Division 26............................ |
ad. No. 121, 1997 |
|
S. 26‑1................................. |
ad. No. 121, 1997 |
|
Link note to s. 26‑1 ............. |
rep. No. 41, 2005 |
|
S. 26‑30............................... |
ad. No. 121, 1997 |
|
Link note to s. 26‑30 ........... |
rep. No. 41, 2005 |
|
Division 28........................... |
rep. No. 101, 2006 |
|
S. 28-100............................. |
rep. No. 101, 2006 |
|
Link note to s. 28‑100.......... |
rs. No. 121, 1997 |
|
|
rep. No. 41, 2005 |
|
Division 30 |
|
|
Division 30............................ |
ad. No. 121, 1997 |
|
S. 30‑1................................. |
ad. No. 121, 1997 |
|
S. 30‑5................................. |
ad. No. 121, 1997 |
|
S. 30‑10............................... |
ad. No. 121, 1997 |
|
|
am. No. 88, 2009 |
|
S. 30‑15............................... |
ad. No. 121, 1997 |
|
|
am. No. 88, 2009 |
|
Note to s. 30‑15(1)............... |
am. No. 88, 2009 |
|
S. 30‑20............................... |
ad. No. 121, 1997 |
|
|
am. No. 88, 2009 |
|
S. 30‑25............................... |
ad. No. 121, 1997 |
|
Link note to s. 30‑25 ........... |
rep. No. 41, 2005 |
|
Division 32 |
|
|
Division 32............................ |
ad. No. 121, 1997 |
|
S. 32‑1................................. |
ad. No. 121, 1997 |
|
Link note to s. 32‑1 ............. |
rep. No. 41, 2005 |
|
Division 34 |
|
|
Division 34............................ |
ad. No. 121, 1997 |
|
S. 34‑1................................. |
ad. No. 121, 1997 |
|
Heading to s. 34‑5................ |
rs. No. 101, 2006 |
|
S. 34‑5................................. |
ad. No. 121, 1997 |
|
|
am. No. 101, 2006 |
|
Link note to s. 34‑5.............. |
rep. No. 41, 2005 |
|
Division 36 |
|
|
Link note to s. 36‑110 ......... |
rep. No. 41, 2005 |
|
Part 2‑10 |
|
|
Link note to Part 2‑10........... |
am. No. 121, 1997; No. 169, 1999 |
|
|
rep. No. 41, 2005 |
|
Division 40 |
|
|
Division 40 ........................... |
ad. No. 77, 2001 |
|
Subdivision 40‑B |
|
|
S. 40‑10............................... |
ad. No. 77, 2001 |
|
|
am. No. 119, 2002 |
|
Note 2 to s. 40-10(3)............ |
am. No. 80, 2007 |
|
S. 40‑12............................... |
ad. No. 77, 2001 |
|
S. 40‑13............................... |
ad. No. 58, 2006 |
|
S. 40‑15............................... |
ad. No. 77, 2001 |
|
S. 40‑20............................... |
ad. No. 77, 2001 |
|
|
am. No. 119, 2002 |
|
S. 40‑25............................... |
ad. No. 77, 2001 |
|
|
am. No. 119, 2002 |
|
S. 40‑30............................... |
ad. No. 77, 2001 |
|
|
am. No. 119, 2002 |
|
S. 40‑33............................... |
ad. No. 77, 2001 |
|
S. 40‑35............................... |
ad. No. 77, 2001 |
|
|
am. No. 66, 2003 |
|
Note to s. 40‑35(1)............... |
ad. No. 66, 2003 |
|
S. 40‑37............................... |
ad. No. 66, 2003 |
|
S. 40‑38............................... |
ad. No. 66, 2003 |
|
S. 40‑40............................... |
ad. No. 77, 2001 |
|
|
am. No. 66, 2003 |
|
S. 40‑43............................... |
ad. No. 66, 2003 |
|
S. 40‑44............................... |
ad. No. 66, 2003 |
|
S. 40‑45............................... |
ad. No. 77, 2001 |
|
|
am. No. 119, 2002 |
|
S. 40‑47............................... |
ad. No. 78, 2005 |
|
S. 40‑50............................... |
ad. No. 77, 2001 |
|
|
am. No. 119, 2002; No. 101, 2006 |
|
S. 40‑55............................... |
ad. No. 77, 2001 |
|
S. 40‑60............................... |
ad. No. 77, 2001 |
|
S. 40‑65............................... |
ad. No. 77, 2001 |
|
S. 40‑70............................... |
ad. No. 77, 2001 |
|
|
am. No. 101, 2006 |
|
S. 40‑72............................... |
ad. No. 55, 2006 |
|
S. 40‑75............................... |
ad. No. 77, 2001 |
|
|
am. No. 58, 2006 |
|
S. 40‑77............................... |
ad. No. 77, 2001 |
|
|
am. No. 66, 2003 |
|
S. 40‑80............................... |
ad. No. 77, 2001 |
|
S. 40‑85............................... |
ad. No. 77, 2001 |
|
|
rep. No. 101, 2006 |
|
S. 40‑95............................... |
ad. No. 66, 2003 |
|
|
rep. No. 58, 2006 |
|
S. 40‑100............................. |
ad. No. 119, 2002 |
|
Subdivision 40‑C |
|
|
S. 40‑230............................. |
ad. No. 77, 2001 |
|
|
am. No. 101, 2006 |
|
Subdivision 40‑D |
|
|
S. 40‑285............................. |
ad. No. 77, 2001 |
|
|
am. No. 101, 2006 |
|
S. 40‑287............................. |
ad. No. 66, 2003 |
|
S. 40‑288............................. |
ad. No. 66, 2003 |
|
S. 40‑289............................. |
ad. No. 101, 2006 |
|
|
am. No. 143, 2007 |
|
S. 40‑290............................. |
ad. No. 77, 2001 |
|
S. 40‑295............................. |
ad. No. 77, 2001 |
|
S. 40‑340............................. |
ad. No. 77, 2001 |
|
|
am. No. 119, 2002; No. 80, 2007 |
|
S. 40‑345............................. |
ad. No. 77, 2001 |
|
S. 40‑365............................. |
ad. No. 66, 2003 |
|
Subdivision 40‑E |
|
|
S. 40‑420............................. |
ad. No. 77, 2001 |
|
S. 40‑425............................. |
ad. No. 77, 2001 |
|
|
rep. No. 119, 2002 |
|
S. 40‑450............................. |
ad. No. 77, 2001 |
|
Subdivision 40‑F |
|
|
S. 40‑515............................. |
ad. No. 77, 2001 |
|
S. 40‑520............................. |
ad. No. 77, 2001 |
|
S. 40‑525............................. |
ad. No. 77, 2001 |
|
|
am. No. 101, 2006 |
|
Subdivision 40‑G |
|
|
S. 40‑645............................. |
ad. No. 77, 2001 |
|
|
am. No. 101, 2006 |
|
S. 40‑650............................. |
ad. No. 77, 2001 |
|
S. 40‑670............................. |
ad. No. 77, 2001 |
|
Subdivision 40‑I |
|
|
S. 40‑825............................. |
ad. No. 77, 2001 |
|
S. 40‑832............................. |
ad. No. 55, 2006 |
|
Subdivision 40‑J |
|
|
Subdivision 40‑J................... |
ad. No. 101, 2006 |
|
S. 40‑830............................. |
ad. No. 101, 2006 |
|
Division 41 |
|
|
Division 41 ........................... |
ad. No. 169, 1999 |
|
|
rep. No. 101, 2006 |
|
S. 41‑40............................... |
ad. No. 169, 1999 |
|
|
rep. No. 101, 2006 |
|
Division 42 ........................... |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑1................................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑2................................. |
ad. No. 121, 1997 |
|
|
am. No. 54, 1999 |
|
|
rep. No. 101, 2006 |
|
S. 42‑6................................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑7................................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑8................................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑9................................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑9 ............. |
rep. No. 41, 2005 |
|
S. 42‑18............................... |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑18 ........... |
rep. No. 41, 2005 |
|
S. 42‑45............................... |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑48............................... |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑48 ........... |
rep. No. 41, 2005 |
|
S. 42‑70............................... |
ad. No. 121, 1997 |
|
|
rs. No. 46, 1998 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑70 ........... |
rep. No. 41, 2005 |
|
S. 42‑80............................... |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑80 ........... |
rep. No. 41, 2005 |
|
S. 42‑90............................... |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑95............................... |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑95 ........... |
rep. No. 41, 2005 |
|
S. 42‑110............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑110 ......... |
rep. No. 41, 2005 |
|
S. 42‑120............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑120 ......... |
rep. No. 41, 2005 |
|
S. 42‑175............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Note to s. 42‑175................. |
ad. No. 93, 1999 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑175.......... |
rep. No. 41, 2005 |
|
S. 42‑195............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑195 ......... |
rep. No. 41, 2005 |
|
S. 42‑215............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101. 2006 |
|
S. 42‑220............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑220 ......... |
rep. No. 41, 2005 |
|
S. 42‑235............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑235 ......... |
rep. No. 41, 2005 |
|
S. 42‑255............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑255 ......... |
rep. No. 41, 2005 |
|
S. 42‑280............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑280 ......... |
rep. No. 41, 2005 |
|
S. 42‑290............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑290 ......... |
rep. No. 41, 2005 |
|
S. 42‑310............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101. 2006 |
|
Link note to s. 42‑310 ......... |
rep. No. 41, 2005 |
|
S. 42‑355............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑360............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑365............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑370............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑375............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑380............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 42‑380 ......... |
rep. No. 41, 2005 |
|
S. 42‑400............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑405............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑410............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 42‑415............................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Division 43 |
|
|
Link note to s. 43‑105.......... |
rs. No. 121, 1997 |
|
|
rep. No. 16, 1998 |
|
S. 43‑110............................. |
ad. No. 16, 1998 |
|
Link note to s. 43‑110.......... |
rep. No. 169, 1999 |
|
Division 45 |
|
|
Division 45 ........................... |
ad. No. 169, 1999 |
|
S. 45‑1................................. |
ad. No. 169, 1999 |
|
S. 45‑3................................. |
ad. No. 169, 1999 |
|
S. 45‑40............................... |
ad. No. 169, 1999 |
|
Link note to s. 45‑40 ........... |
rep. No. 41, 2005 |
|
Part 2‑15 |
|
|
Part 2‑15 ............................. |
ad. No. 121, 1997 |
|
Division 50 |
|
|
S. 50‑1................................. |
ad. No. 121, 1997 |
|
Division 51 |
|
|
S. 51‑1................................. |
ad. No. 121, 1997 |
|
S. 51‑5................................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Division 52 |
|
|
S. 52‑1................................. |
ad. No. 121, 1997 |
|
S. 52‑5................................. |
ad. No. 196, 1997 |
|
|
rep. No. 83, 1999 |
|
Division 53 |
|
|
S. 53‑1................................. |
ad. No. 121, 1997 |
|
Link note to s. 53‑1.............. |
rep. No. 139, 2002 |
|
Division 54 |
|
|
Division 54 ........................... |
ad. No. 139, 2002 |
|
S. 54‑1................................. |
ad. No. 139, 2002 |
|
|
am. No. 143, 2007 |
|
Division 55 |
|
|
S. 55‑1................................. |
ad. No. 121, 1997 |
|
Link note to s. 55‑1 ............. |
rep. No. 41, 2005 |
|
Part 2‑20 |
|
|
Part 2‑20 ............................. |
ad. No. 80, 2006 |
|
Division 61 |
|
|
Subdivision 61‑L |
|
|
S. 61‑575............................. |
ad. No. 80, 2006 |
|
Part 2‑25 |
|
|
Part 2‑25 ............................. |
ad. No. 121, 1997 |
|
Link note to Part 2‑25........... |
rep. No. 41, 2005 |
|
Division 70 |
|
|
S. 70‑1................................. |
ad. No. 121, 1997 |
|
|
am. No. 101, 2006 |
|
S. 70‑5................................. |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
S. 70‑10............................... |
ad. No. 121, 1997 |
|
|
rs. No. 16, 1998 |
|
|
am. No. 101, 2006 |
|
Link note to s. 70‑10 ........... |
rep. No. 41, 2005 |
|
S. 70‑20............................... |
ad. No. 121, 1997 |
|
Link note to s. 70‑20............ |
rs. No. 16, 1998 |
|
|
rep. No. 41, 2005 |
|
S. 70‑35............................... |
ad. No. 16, 1998 |
|
|
rep. No. 101, 2006 |
|
S. 70‑40............................... |
ad. No. 121, 1997 |
|
|
rep. No. 101, 2006 |
|
Link note to s. 70‑40............ |
rep. No. 119, 2002 |
|
S. 70‑41............................... |
ad. No. 119, 2002 |
|
|
rep. No. 101, 2006 |