Commonwealth Consolidated Acts

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NEW BUSINESS TAX SYSTEM (CONSOLIDATION AND OTHER MEASURES) ACT (NO. 1) 2002 - SCHEDULE 14

- Consolidation: consequential provisions for removal of grouping

Financial Corporations (Transfer of Assets and Liabilities) Act 1993

1
Section 18

After "applies only to", insert "certain".

2
Subparagraphs 18(b)(i), (ii) and (iii)

Repeal the subparagraphs, substitute:

(i)
subsections 126-50(1), (5), (6), (7), (8) and (9) of that Act; and
(ii)
section 126-55 of that Act.

Income Tax Assessment Act 1936

3
Paragraph 73E(1)(a)

After " 1997 ", insert ", as in force before the amendments made to that Subdivision by the New Business Tax System (Consolidation) Act (No. 1) 2002 ".

4
Paragraph 73EA(1)(a)

After " 1997 ", insert ", as in force before the amendments made to that Subdivision by the New Business Tax System (Consolidation) Act (No. 1) 2002 ".

5
Paragraph 73EB(1)(a)

After " 1997 ", insert ", as in force before the amendments made to that Subdivision by the New Business Tax System (Consolidation) Act (No. 1) 2002 ".

6
Paragraph 73F(2)(a)

After " 1997 ", insert ", as in force before the amendments made to that Subdivision by the New Business Tax System (Consolidation) Act (No. 1) 2002 ".

7
Paragraph 73G(1)(a)

After " 1997 ", insert ", as in force before the amendments made to that Subdivision by the New Business Tax System (Consolidation) Act (No. 1) 2002 ".

Income Tax Assessment Act 1997

8
Section 112-150 (table item 5)

After "between", insert "certain".

9
Subsection 114-10(5) (example)

After "wholly-owned group", insert "and a foreign resident".

10
Paragraph 115-285(3)(c)

Omit "a wholly-owned group", substitute "certain wholly-owned groups".

11
Subsection 121-20(1) (example 2)

After "wholly-owned group", insert "and a foreign resident".

12
Paragraph 124-795(2)(b)

After "original interest", insert "and the acquiring entity is a foreign resident".

13
Section 136-25 (table item 8)

Omit "a company group", substitute "certain company groups".

Taxation Administration Act 1953

14
Paragraphs 45-635(3)(c) and (d) of Schedule 1

Before "companies", insert "certain".

15
Paragraphs 45-635(7)(a) and (b) of Schedule 1

Before "companies", insert "certain".

Wool Services Privatisation Act 2000

16
Subsection 27(2) (note)

Before "transactions", insert "certain".


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