Commonwealth Numbered Acts

A NEW TAX SYSTEM (TAX ADMINISTRATION) ACT (NO. 1) 2000 NO. 44, 2000 - SCHEDULE 5

1 Subsection 995-1(1)

adjusted tax on ^* adjusted taxable income or on ^* adjusted withholding income has the meaning given by section 45-340 in Schedule 1 to the Taxation Administration Act 1953 .

2 Subsection 995-1(1) (definition of adjusted taxable income )

3 Subsection 995-1(1) (definition of adjusted withholding income )

4 Subsection 995-1(1) (definition of base assessment )

5 Subsection 995-1(1) (definition of base year )

6 Subsection 995-1(1) (definition of benchmark instalment rate )

7 Subsection 995-1(1) (definition of benchmark tax )

8 Subsection 995-1(1)

Commissioner's instalment rate has the meaning given by section 45-115 in Schedule 1 to the Taxation Administration Act 1953 .

9 Subsection 995-1(1)

CS/RA class of the assessable income of a ^* life insurance entity or ^* registered organisation has the meaning given by section 116CE or 116GD of the Income Tax Assessment Act 1936 .

10 Subsection 995-1(1)

CS/RA component of the taxable income of a ^* life insurance entity or ^* registered organisation has the meaning given by section 110 or 116E of the Income Tax Assessment Act 1936 .

11 Subsection 995-1(1) (definition of instalment income )

12 Subsection 995-1(1)

FS assessment debt means an FS assessment debt under:

(a)

subsection 19AB(2) of the Social Security Act 1991 ; or

(b)

the Student Assistance Act 1973 as in force at a time on or after 1 July 1998.

13 Subsection 995-1(1)

majority control has the meaning given by section 45-145 in Schedule 1 to the Taxation Administration Act 1953 .

14 Subsection 995-1(1)

multi-rate trustee has the meaning given by section 45-455 in Schedule 1 to the Taxation Administration Act 1953 .

15 Subsection 995-1(1) (definition of notional tax )

16 Subsection 995-1(1)

reduced beneficiary's share of a trust's net income for an income year has the meaning given by section 45-483 in Schedule 1 to the Taxation Administration Act 1953 .

17 Subsection 995-1(1)

reduced no beneficiary's share of a trust's net income for an income year has the meaning given by section 45-483 in Schedule 1 to the Taxation Administration Act 1953 .

18 Subsection 995-1(1)

single-rate trustee has the meaning given by section 45-450 in Schedule 1 to the Taxation Administration Act 1953 .

[ Minister's second reading speech made in—
House of Representatives on 9 December 1999
Senate on 16 March 2000 ]
(245/99)