Commonwealth Consolidated Acts Commonwealth Consolidated ActsA New Tax System (Australian Business Number) Act 1999
1 Section 41 (subparagraph (e)(ii) of the definition of government entity )
Omit "enterprise", substitute " * enterprise".
A New Tax System (Goods and Services Tax) Act 1999
2 Paragraph 38 - 90(2)(a)
Omit "a * Masters or Doctoral course,".
3 Section 195 - 1 (paragraph (e) of the definition of education course )
Repeal the paragraph.
4 Section 195 - 1 (definition of Masters or Doctoral course )
Repeal the definition.
5 Section 195 - 1 (after paragraph (a) of the definition of tertiary course )
Insert:
(aa) a course of study or instruction accredited at Masters or Doctoral level and supplied by a * higher education institution or a * non - government higher education institution; or
6 Section 195 - 1 (definition of tertiary residential college course )
Repeal the definition, substitute:
"tertiary residential college course" means a course supplied in connection with a * tertiary course at premises that are used to provide accommodation to students undertaking tertiary courses.
Crimes (Taxation Offences) Act 1980
Note: The headings to sections 5 and 7 are altered by omitting " old sales tax " and substituting " income tax ".
Fringe Benefits Tax Assessment Act 1986
7 Subsection 11(1AA)
Repeal the subsection, substitute:
(1AA) The formula for working out the amount of B for the person and the car for subsection (1) is:
where:
"DV percentage" is the percentage applicable in using the diminishing value method (within the meaning of the Income Tax Assessment Act 1997 ) as at the start of the year of tax.
"effective life of the car" is the number of years in the period specified as the effective life of the car in a determination made by the Commissioner under section 40 - 100 of the Income Tax Assessment Act 1997 and in effect at the most recent time (before the end of the year of tax) the person became the owner of the car.
8 Application
The amendment made by item 7 applies to the FBT year starting on 1 April 2008 and to all later FBT years.
Income Tax Assessment Act 1936
9 Section 23GA
Repeal the section.
10 Subsection 46A(8AA)
Omit "sections 23A and 23B", substitute "section 23A".
Note: The heading to section 97A is altered by omitting " income equalization deposits or ".
11 Subsection 128B(3A)
Omit "or to a partnership", substitute "or a partnership".
12 Subsections 139E(2) and (4)
Omit "in a form approved by the Commissioner", substitute "in the approved form".
13 Paragraphs 139GA(3)(a) to (d)
Repeal the paragraphs, substitute:
(a) a person who pays, or is liable to pay, work and income support related withholding payments and benefits; or
(b) a person who engages another person in foreign service.
14 Application
The amendment made by item 13 applies to assessments for the 2006 - 07 income year and later income years.
15 Section 202DDA
Repeal the section.
16 Paragraph 202EE(1)(d)
Omit "paragraph 128B(3)(a), (b) or (ga)", substitute "paragraph 128B(3)(a), (b), (ga) or (jb)".
17 Application
The amendment made by item 16 applies to income derived in the 2006 - 07 income year and later income years.
Income Tax Assessment Act 1997
18 Section 11 - 10 (table item headed "interest")
Omit ", 23GA ".
19 Section 11 - 15 (table item headed "foreign aspects of income taxation")
Omit:
Defence Force member, non - resident, pay and
|
|
substitute:
Defence Force
member, foreign resident, pay and |
|
20 Section 12 - 5 (table item headed "dividends")
Omit:
franking credits, companies and non - residents .. | 207 - 95(2), 207 - 95(3), 220 - 405(3) |
substitute:
franking credits, companies and foreign residents ...... | 207 - 95(2), 207 - 95(3), 220 - 405(3) |
21 Paragraphs 15 - 55(1)(b) and 15 - 60(4)(b)
Omit "320 - 15(k)", substitute "320 - 15(1)(k)".
22 Application
The amendments made by item 21 apply to assessments for the income year including 1 January 2003 and later income years.
23 Paragraph 30 - 60(c)
Omit "Secretary to the Department of the Environment, Sport and Territories", substitute " * Environment Secretary".
24 Section 30 - 255
Omit "Secretary to the Department of the Environment, Sport and Territories", substitute " * Environment Secretary".
25 Subsection 30 - 265(4)
Omit "Minister for Environment, Sport and Territories", substitute " * Environment Minister".
26 Subsection 30 - 270(4)
Omit "Secretary to the Department of the Environment, Sport and Territories", substitute " * Environment Secretary".
27 Paragraph 30 - 275(c)
Omit "Minister for Environment, Sport and Territories", substitute " * Environment Minister".
28 Subsection 30 - 280(1)
Omit "Secretary to the Department of the Environment, Sport and Territories", substitute " * Environment Secretary".
29 Subsection 30 - 280(1)
Omit "Minister for Environment, Sport and Territories", substitute " * Environment Minister".
30 Subsection 30 - 280(4)
Omit "Minister for Environment, Sport and Territories", substitute " * Environment Minister".
31 Subsection 30 - 285(1)
Omit "Minister for Environment, Sport and Territories", substitute " * Environment Minister".
32 Subsection 30 - 285(1)
Omit "Secretary to the Department of the Environment, Sport and Territories", substitute " * Environment Secretary".
33 Paragraph 31 - 5(5)(c)
Omit "Minister for the Environment and Heritage", substitute " * Environment Minister".
34 Section 50 - 70 (heading)
Repeal the heading, substitute:
50 - 70 Special conditions for items 1.7, 2.1, 9.1 and 9.2
35 Subsection 51 - 57(1)
Omit "a law of the Commonwealth, a State or Territory", substitute "an * Australian law".
36 Section 61 - 560 (note)
Omit "have you", substitute "you have".
37 After subparagraph 118 - 12(2)(a)(i)
Insert:
(ia) section 59 - 35 (amounts that would be mutual receipts but for prohibition on distributions to members);
38 Application
The amendment made by item 37 applies to assessments for income years commencing on or after 1 July 2000.
39 Paragraph 165 - 12(7)(b)
Omit "direct or indirect equity interests", substitute " * direct equity interests or * indirect equity interests".
40 Subsection 165 - 12(8)
Omit "direct or indirect equity interest", substitute " * direct equity interest or * indirect equity interest".
41 Subsection 165 - 12(9)
Repeal the subsection.
42 Paragraph 165 - 37(4)(b)
Omit "direct or indirect equity interests", substitute " * direct equity interests or * indirect equity interests".
43 Subsection 165 - 37(5)
Omit "direct or indirect equity interest", substitute " * direct equity interest or * indirect equity interest".
44 Subsection 165 - 37(6)
Repeal the subsection.
45 Paragraph 165 - 115C(4)(b)
Omit "direct or indirect equity interests", substitute " * direct equity interests or * indirect equity interests".
46 Subsection 165 - 115C(5)
Omit "direct or indirect equity interest", substitute " * direct equity interest or * indirect equity interest".
47 Subsections 165 - 115C(6) and (7)
Repeal the subsections.
48 Paragraph 165 - 115GB(2)(a)
Omit "direct or indirect equity interest", substitute " * direct equity interest or * indirect equity interest".
49 Paragraph 165 - 123(7)(b)
Omit "direct or indirect equity interests", substitute " * direct equity interests or * indirect equity interests".
50 Subsection 165 - 123(8)
Omit "direct or indirect equity interest", substitute " * direct equity interest or * indirect equity interest".
51 Subsections 165 - 123(9) and (10)
Repeal the subsections.
52 Paragraph 166 - 272(8)(b)
Omit "direct or indirect equity interests", substitute " * direct equity interests or * indirect equity interests".
53 Subsection 166 - 272(8) (note)
Repeal the note.
54 Subsection 166 - 272(10)
Omit "direct or indirect equity interest", substitute " * direct equity interest or * indirect equity interest".
55 Subsection 166 - 272(10) (note)
Repeal the note.
56 Subsection 166 - 272(11)
Repeal the subsection.
57 Paragraph 197 - 20(b)
Omit "a law of the Commonwealth, or of a State or Territory,", substitute "an * Australian law".
58 Subsection 320 - 85(1) (note 1)
Omit "320 - 15(h)", substitute "320 - 15(1)(h)".
59 Subsection 713 - 545(6) (definition of ordinary class tax rate )
Omit "subparagraph 23A(a)(ii)", substitute "paragraph 23A(a)".
60 Paragraph 727 - 95(b)
Omit "direct or indirect equity interests", substitute " * direct equity interests or * indirect equity interests".
61 Subsections 820 - 37(2) and (3)
Omit " * foreign permanent establishments", substitute " * overseas permanent establishments".
62 Subsection 820 - 946(3)
Omit "that time", substitute "the particular time mentioned in subsection (2) or (2A)".
63 Subsection 995 - 1(1)
Insert:
"direct equity interests" in a company are * shares in the company.
64 Subsection 995 - 1(1)
Insert:
"Environment Minister" means the Minister administering the Environment Protection and Biodiversity Conservation Act 1999 .
65 Subsection 995 - 1(1) (definition of GST joint venture ) (the definition inserted by item 59 of Schedule 3 to the A New Tax System (Indirect Tax and Consequential Amendments) Act 1999 )
Repeal the definition.
66 Subsection 995 - 1(1)
Insert:
"indirect equity interests" : an entity has indirect equity interests in a company if it has * shares or other interests in entities interposed between the entity and the company.
67 Subsection 995 - 1(1) (paragraph (d) of the definition of member )
Omit "person who" (wherever occurring), substitute "entity that".
68 Subsection 995 - 1(1) (all the definitions of share )
Repeal the definitions, substitute:
"share" :
(a) in a company means a share in the capital of the company, and includes stock; and
(b) of an * exempting credit has the meaning given by section 208 - 180; and
(c) of a * franked distribution has the meaning given by section 207 - 55; and
(d) of a * franking credit has the meaning given by section 207 - 57.
Income Tax (Dividends, Interest and Royalties Withholding Tax) Act 1974
69 Section 3
Repeal the section.
70 Section 4
Omit " Income Tax Assessment Act 1936 - 1974 ", substitute " Income Tax Assessment Act 1936 ".
71 Paragraph 7(a)
Repeal the paragraph, substitute:
(a) in respect of income to which subsection 128B(4) of the Assessment Act applies--30%; and
72 Section 8
Repeal the section.
73 Subsection 3(1) (definition of AD/RLA component )
Repeal the definition.
74 Subsection 3(1) (definition of CS/RA component )
Repeal the definition.
75 Subsection 3(1) (definition of EIB component )
Repeal the definition.
76 Subsection 3(1) (definition of general fund component )
Repeal the definition.
77 Subsection 3(1) (definition of NCS component )
Repeal the definition.
78 Subsection 3(1) (definition of registered organisation )
Repeal the definition.
79 Subsection 3(1) (definition of RSA category A component )
Repeal the definition.
80 Subsection 3(1) (definition of RSA category B component )
Repeal the definition.
81 Subsection 3(1) (definition of RSA combined component )
Repeal the definition.
82 Subsection 3(1) (definition of RSA component )
Repeal the definition, substitute:
"RSA component" has the same meaning as in the Income Tax Assessment Act 1997 .
83 Subsection 3(1) (definition of standard component )
Repeal the definition, substitute:
"standard component" has the same meaning as in the Income Tax Assessment Act 1997 .
84 Subsection 23(1A)
Omit "sections 23A, 23B and 23C", substitute "section 23A".
85 Paragraphs 23(2)(a) and (b)
Repeal the paragraphs.
86 Paragraphs 23(2)(c), (ca) and (d)
Reletter as paragraphs (a), (b) and (c).
87 Subsections 23(3), (4), (4A) and (4B)
Repeal the subsections.
88 Subsection 23(4BA)
Omit "or a registered organization".
89 Subsections 23(4BA), (4C), (4D), (5) and (6)
Renumber as subsections (3), (4), (5), (6) and (7).
90 Subsection 23(6) (as renumbered)
Omit ", not being a registered organization,".
91 Section 23A
Omit "Subject to sections 23B and 23C, the", substitute "The".
92 Paragraphs 23A(a) and (b)
Repeal the paragraphs, substitute:
(a) in respect of the ordinary class--30%; and
(b) in respect of the complying superannuation class--15%.
93 Sections 23B and 23C
Repeal the sections.
94 Subparagraph 29(2)(c)(iii)
Omit "paragraph 23(4BA)(a)", substitute "paragraph 23(3)(a)".
95 Subparagraph 29(2)(c)(iv)
Omit "paragraph 23(4A)(ba)", substitute "paragraph 23A(b)".
96 Application
The amendments made by items 73 to 95 apply to assessments for the 2007 - 08 income year and later income years.
Income Tax (Transitional Provisions) Act 1997
97 Division 136 (heading)
Repeal the heading, substitute:
Division 136 -- Foreign residents
Note 1: The heading to section 701C - 10 is replaced by the heading " 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 ".
Note 2: The heading to section 701C - 15 is replaced by the heading " 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 ".
98 The whole of the Act
Omit " * " (wherever occurring).
Taxation Administration Act 1953
99 Section 14ZQ (paragraph (b) of the definition of delayed administration (trustee) objection )
Reletter as paragraph (a).
100 Section 14ZQ (paragraphs (c) to (f) of the definition of delayed administration (trustee) objection )
Repeal the paragraphs.
101 Section 14ZQ (paragraph (g) of the definition of delayed administration (trustee) objection )
Reletter as paragraph (b).
102 Subsection 288 - 80(4) in Schedule 1 (definition of applicable withholding tax rate )
Omit "subparagraph 7(a)(ii)", substitute "paragraph 7(a)".
Taxation (Interest on Overpayments and Early Payments) Act 1983
103 Paragraph 9(6)(b)
After "at a later", insert "time".
Part 2 -- Penalty unit conversion
104 Penalty unit conversion
(1) The provisions of the Fringe Benefits Tax Assessment Act 1986 listed in the table are amended as set out in the table.
Penalty unit conversion | |||
Item | Provision | Omit: | Substitute: |
1 | Subsection 121(1) (penalty) | $1,000 | 10 penalty units |
2 | Subsection 121(2) (penalty) | $1,000 | 10 penalty units |
3 | Subsection 121(2B) (penalty) | $1,000 | 10 penalty units |
4 | Subsection 122(1) (penalty) | $1,000 | 10 penalty units |
5 | Section 135 | $500 | 5 penalty units |
(2) The provisions of the Income Tax Assessment Act 1936 listed in the table are amended as set out in the table.
Penalty unit conversion | |||
Item | Provision | Omit: | Substitute: |
1 | Section 16 (penalty) | $10,000 | 100 penalty units |
2 | Subsection 124ZADA(3) (penalty) | $200 | 2 penalty units |
3 | Subsection 124ZADB(1) (penalty) | $200 | 2 penalty units |
4 | Subsection 202CD(1) (penalty) | $1,000 | 10 penalty units |
5 | Subsection 202CD(4) (penalty) | $1,000 | 10 penalty units |
6 | Subsection 202EE(2) (penalty) | $1,000 | 10 penalty units |
7 | Subsection 202EF(4) (penalty) | $1,000 | 10 penalty units |
8 | Subsection 213(2) (penalty) | $2,000 | 20 penalty units |
9 | Section 251A (sub-subparagraph (c)(ii)(A) of the definition of serious taxation offence ) | $2,000 | 20 penalty units |
10 | Subsection 251KG(1) (penalty) | $500 | 5 penalty units |
11 | Subsection 251KH(1) (penalty) | $500 | 5 penalty units |
12 | Section 251KJ (penalty) | $500 | 5 penalty units |
13 | Subsection 251KK(2) (penalty) | $500 | 5 penalty units |
14 | Subsections 251N(1), (2) and (2B) (penalty) | $1,000 | 10 penalty units |
15 | Subsection 251O(1) (penalty) | $1,000 | 10 penalty units |
16 | Subsection 252(3) | $50 | 1 penalty unit |
17 | Subsection 252A(1) | $50 | 1 penalty unit |
18 | Section 266 | $500 | 5 penalty units |
(3) The provisions of the Taxation Administration Act 1953 listed in the table are amended as set out in the table.
Penalty unit conversion | |||
Item | Provision | Omit: | Substitute: |
1 | Subsection 3D(21) | $10,000 | 100 penalty units |
2 | Subsection 8E(1) | $2,000 | 20 penalty units |
3 | Subsection 8E(2) | $4,000 | 40 penalty units |
4 | Subsection 8E(3) | $5,000 | 50 penalty units |
5 | Subsection 8H(1) | $5,000 | 50 penalty units |
6 | Subsection 8M(1) | $2,000 | 20 penalty units |
7 | Subsection 8M(2) | $4,000 | 40 penalty units |
8 | Subsection 8R(1) | $3,000 | 30 penalty units |
9 | Subsection 8R(2) | $5,000 | 50 penalty units |
10 | Subsection 8V(1) | $5,000 | 50 penalty units |
11 | Subsection 8V(2) | $10,000 | 100 penalty units |
12 | Subsection 8WA(1) (penalty) | $10,000 | 100 penalty units |
13 | Subsection 8WB(1) (penalty) | $10,000 | 100 penalty units |
14 | Subsection 8WC(1) (penalty) | $10,000 | 100 penalty units |
15 | Section 8XA (penalty) | $10,000 | 100 penalty units |
16 | Subsection 8XB(1) (penalty) | $10,000 | 100 penalty units |
17 | Subsection 13F(4) (penalty) | $1,000 | 10 penalty units |
18 | Subsection 14J(3) (penalty) | $1,000 | 10 penalty units |
19 | Subsection 14R(1) (penalty) | $5,000 | 50 penalty units |
20 | Subsection 14ZA(1) (penalty) | $500 | 5 penalty units |
