Commonwealth Consolidated Acts

TAX LAWS AMENDMENT (2004 MEASURES NO. 7) ACT 2005 - NOTES

Act No. 41 of 2005 as amended

This compilation was prepared on 16 August 2010
taking into account amendments up to Act No. 75 of 2010

The text of any of those amendments not in force
on that date is appended in the Notes section

The operation of amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section

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

Contents

1 Short title [see Note 1] ...........................

2 Commencement

3 Schedule(s)

Schedule 1--25% entrepreneurs' tax offset

Income Tax Assessment Act 1997

Taxation Administration Act 1953

Schedule 2--STS accounting method

Income Tax Assessment Act 1997

Income Tax (Transitional Provisions) Act 1997

Schedule 3--Employee share schemes

Income Tax Assessment Act 1936

Income Tax Assessment Act 1997

Schedule 4--FBT exemption thresholds for long service award benefits

Fringe Benefits Tax Assessment Act 1986

Schedule 5--Petroleum exploration incentives

Petroleum Resource Rent Tax Assessment Act 1987

Schedule 6--Consolidation

Part 1--Application

Part 2--Amount of certain liabilities for purpose of calculating allocable cost amount on exit

Income Tax Assessment Act 1997

Part 3--Ensuring no double reduction in working out step 3 of allocable cost amount on entry

Income Tax Assessment Act 1997

Income Tax (Transitional Provisions) Act 1997

Part 4--Bad debts

Division 1--Main amendment

Income Tax Assessment Act 1997

Division 2--Consequential amendments

Income Tax Assessment Act 1936

Income Tax Assessment Act 1997

Income Tax (Transitional Provisions) Act 1997

Part 5--Insurance companies

Income Tax Assessment Act 1997

Income Tax (Transitional Provisions) Act 1997

Schedule 7--STS roll-over

Income Tax Assessment Act 1997

Schedule 8--Family trust elections

Income Tax Assessment Act 1936

Schedule 9--Non-commercial loans

Part 1--Amendment commencing on 29 June 2004

Income Tax Assessment Act 1936

Part 2--Amendments commencing on Royal Assent

Income Tax Assessment Act 1936

Schedule 10--Technical corrections and amendments

Part 1--Technical corrections and amendments commencing on Royal Assent

A New Tax System (Goods and Services Tax) Act 1999

A New Tax System (Wine Equalisation Tax) Act 1999

Fringe Benefits Tax Assessment Act 1986

Income Tax Assessment Act 1936

Income Tax Assessment Act 1997

Income Tax (Transitional Provisions) Act 1997

New Business Tax System (Consolidation and Other Measures) Act 2003

Petroleum Resource Rent Tax Assessment Act 1987

Product Grants and Benefits Administration Act 2000

Superannuation Guarantee (Administration) Act 1992

Taxation Administration Act 1953

Taxation Laws Amendment Act (No. 5) 2002

Venture Capital Act 2002

Part 2--Technical corrections and amendments commencing otherwise than on Royal Assent

A New Tax System (Pay As You Go) Act 1999

Energy Grants (Credits) Scheme (Consequential Amendments) Act 2003

Fringe Benefits Tax Assessment Act 1986

Income Tax Assessment Act 1997

New Business Tax System (Consolidation) Act (No. 1) 2002

New Business Tax System (Consolidation and Other Measures) Act 2003

Taxation Laws Amendment (Company Law Review) Act 1998

Taxation Laws Amendment (Research and Development) Act 2001

Tax Laws Amendment (2004 Measures No. 2) Act 2004

Part 3--Removal of link notes

Income Tax Assessment Act 1936

Income Tax Assessment Act 1997

Income Tax (Transitional Provisions) Act 1997

Taxation Administration Act 1953

Venture Capital Act 2002

Schedule 11--Film tax offset amendments

Income Tax Assessment Act 1936

Income Tax Assessment Act 1997

Notes