Tax Laws Amendment (2006 Measures No. 6) Act 2007
No. 4, 2007
An Act to amend the law relating to taxation, and for related purposes
Contents
1............ Short title............................................................................................ 1
2............ Commencement.................................................................................. 2
3............ Schedule(s).......................................................................................... 2
Schedule 1—Specific listings of deductible gift recipients 3
Income Tax Assessment Act 1997 3
Schedule 2—Technical corrections and amendments 5
Part 1—General amendments 5
Income Tax Assessment Act 1936 5
Income Tax Assessment Act 1997 6
Taxation Administration Act 1953 6
Taxation Laws Amendment Act (No. 5) 2001 7
Tax Laws Amendment (2006 Measures No. 3) Act 2006 7
Part 2—Amendments commencing at different times 8
Airports (Transitional) Act 1996 8
Part 3—Asterisking amendments 9
A New Tax System (Goods and Services Tax) Act 1999 9
Income Tax Assessment Act 1997 9
Tax Laws Amendment (2006 Measures No. 6) Act 2007
No. 4, 2007
An Act to amend the law relating to taxation, and for related purposes
[Assented to 19 February 2007]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Tax Laws Amendment (2006 Measures No. 6) Act 2007.
2 Commencement
(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.
Commencement information
Column 1
Column 2
Column 3
Provision(s)
Commencement
Date/Details
1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table
The day on which this Act receives the Royal Assent.
19 February 2007
2. Schedule 1
The day on which this Act receives the Royal Assent.
19 February 2007
3. Schedule 2, items 1 to 23
The day on which this Act receives the Royal Assent.
19 February 2007
4. Schedule 2, item 24
Immediately after the commencement of Part 1 of Schedule 2 to the Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006.
14 September 2006
5. Schedule 2, items 25 and 26
The day on which this Act receives the Royal Assent.
19 February 2007
Note: This table relates only to the provisions of this Act as originally passed by both Houses of the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.
(2) Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.
3 Schedule(s)
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Specific listings of deductible gift recipients
Income Tax Assessment Act 1997
1 Subsection 30‑25(2) (table item 2.2.34)
Omit “1 July 2006”, substitute “1 July 2008”.
2 Subsection 30‑40(2) (at the end of the table)
Add:
3.2.9
Don Chipp Foundation Ltd
the gift must be made after 26 June 2006
3.2.10
Lingiari Policy Centre
the gift must be made after 25 July 2006
3 Subsection 30‑50(2) (table item 5.2.16)
Omit “16 August 2005”, substitute “16 August 2006”.
4 Subsection 30‑70(2) (at the end of the table)
Add:
8.2.11
Playgroup SA Inc
the gift must be made after 5 August 2006
5 Subsection 30‑100(2) (at the end of the table)
Add:
12.2.3
The Ranfurly Library Service Incorporated
the gift must be made after 2 May 2006
6 Section 30‑105 (table item 13.2.5)
Omit “23 April 2006”, substitute “23 April 2008”.
7 Section 30‑105 (table item 13.2.6)
Omit “10 November 2005”, substitute “1 January 2007”.
8 Section 30‑105 (at the end of the table)
Add:
13.2.12
Nonprofit Australia Ltd
the gift must be made after 28 June 2006 and before 29 June 2009
13.2.13
Point Nepean Community Trust
the gift must be made after 26 June 2006 and before 11 June 2009
13.2.14
St Mary’s Cathedral Restoration Appeal Incorporated
the gift must be made after 26 April 2006 and before 27 April 2007
9 Subsection 30‑315(2) (after table item 45)
Insert:
45AAA
Don Chipp Foundation Ltd
item 3.2.9
10 Subsection 30‑315(2) (after table item 67)
Insert:
67A
Lingiari Policy Centre
item 3.2.10
11 Subsection 30‑315(2) (after table item 80)
Insert:
81
Nonprofit Australia Ltd
item 13.2.12
12 Subsection 30‑315(2) (after table item 86C)
Insert:
86CA
Playgroup SA Inc
item 8.2.11
13 Subsection 30‑315(2) (after table item 86E)
Insert:
86F
Point Nepean Community Trust
item 13.2.13
14 Subsection 30‑315(2) (after table item 94AA)
Insert:
94AB
Ranfurly Library Service Incorporated
item 12.2.3
15 Subsection 30‑315(2) (after table item 112AF)
Insert:
112AFA
St Mary’s Cathedral Restoration Appeal Incorporated
item 13.2.14
Schedule 2—Technical corrections and amendments
Part 1—General amendments
Income Tax Assessment Act 1936
1 Section 102AAB (definition of approved form)
Repeal the definition.
2 Transitional
An approval of a form made by the Commissioner before the commencement of this item under the definition of approved form in section 102AAB of the Income Tax Assessment Act 1936 has effect on and after that commencement as if it had been made under section 388‑50 in Schedule 1 to the Taxation Administration Act 1953.
3 Subsection 124K(1) (definition of Minister)
Repeal the definition, substitute:
Minister means the Minister administering the Film Licensed Investment Company Act 2005.
4 Subsection 159ZR(1) (definition of eligible income)
Omit “section 34A of the Audit Act 1901 or”.
5 Subsection 160AO(2)
Omit “Income Tax (International Agreements) Act 1953‑1960”, substitute “International Tax Agreements Act 1953”.
6 Subsections 160AO(2) and (3)
Renumber as subsections (1) and (2).
7 Subsection 252(2)
Repeal the subsection.
8 Subsections 252(3), (4) and (4A)
Renumber as subsections (2), (3) and (4).
9 Subsection 252(4A)
Omit “subsection (4)”, substitute “subsection (3)”.
10 Subsection 252(6)
Omit “subsection (3)”, substitute “subsection (2)”.
Income Tax Assessment Act 1997
11 Section 12‑5 (table item headed “film income”)
Omit “see also losses”, substitute “see also tax losses”.
12 Section 40‑145
Repeal the section.
13 Paragraph 118‑520(1)(c)
Omit “or residents of a Territory”.
14 Paragraph 118‑520(1)(d)
Omit “or a resident of a Territory”.
15 Subsection 995‑1(1) (note to the definition of purpose of producing assessable income)
Repeal the note, substitute:
Note: Section 32‑15 (about using property in providing entertainment) treats use of property as not being for the purpose of producing assessable income.
16 Subsection 995‑1(1) (definition of statutory accounting period) (the definition of statutory accounting period inserted by item 19 of Schedule 1 to the New International Tax Arrangements (Participation Exemption and Other Measures) Act 2004)
Repeal the definition.
Taxation Administration Act 1953
17 Subsections 6B(1), (2), (5), (8) and (9)
Omit “Prime Minister”, substitute “Minister”.
18 Subsection 6B(11)
Repeal the subsection.
19 Transitional
An appointment made by the Prime Minister under section 6B of the Taxation Administration Act 1953 before the commencement of this item and in force at that commencement continues to have effect after that commencement according to its terms as if it had been made by the Minister just after that commencement.
20 Paragraph 298‑5(c) in Schedule 1 (the paragraph (c) added by item 168 of Schedule 7 to the Tax Laws Amendment (2006 Measures No. 2) Act 2006)
Omit “this Schedule.”, substitute “this Schedule; or”.
21 Paragraph 298‑5(c) in Schedule 1 (the paragraph (c) added by item 5 of Schedule 7 to the Tax Laws Amendment (2006 Measures No. 3) Act 2006)
Reletter as paragraph (d).
Taxation Laws Amendment Act (No. 5) 2001
22 Item 3 of Schedule 2
Omit “Legislative Instrument Act 2003”, substitute “Legislative Instruments Act 2003”.
Tax Laws Amendment (2006 Measures No. 3) Act 2006
23 Item 4 of Schedule 7
Repeal the item.
Part 2—Amendments commencing at different times
Airports (Transitional) Act 1996
24 Subsection 49B(7) (definition of entity)
Repeal the definition, substitute:
entity means any of the following:
(a) a company;
(b) a partnership;
(c) a person in a capacity of trustee;
(d) any other person.
Part 3—Asterisking amendments
A New Tax System (Goods and Services Tax) Act 1999
25 Asterisking amendments of the A New Tax System (Goods and Services Tax) Act 1999
The provisions of the A New Tax System (Goods and Services Tax) Act 1999 listed in the table are amended as set out in the table.
Asterisking amendments
Item
Provision
Omit:
Substitute:
1
Subsection 38‑50(2)
*individual
individual
2
Paragraph 38‑50(7)(b)
*individual
individual
3
Paragraph 184‑1(1)(a)
*individual
individual
Income Tax Assessment Act 1997
26 Asterisking amendments of the Income Tax Assessment Act 1997
The provisions of the Income Tax Assessment Act 1997 listed in the table are amended as set out in the table.
Asterisking amendments
Item
Provision
Omit:
Substitute:
1
Subparagraph 43‑150(a)(v)
petroleum
*petroleum
2
Subsection 87‑40(1)
agents
*agents
3
Paragraph 204‑30(2)(b)
paid‑up share capital
*paid‑up share capital
4
Subsection 995‑1(1) (subparagraph (b)(i) of the definition of apportionable deductions)
*market value
market value
5
Subsection 995‑1(1) (subparagraph (b)(ii) of the definition of apportionable deductions)
*live stock
live stock
[Minister’s second reading speech made in—
House of Representatives on 2 November 2006
Senate on 6 February 2007]
(164/06)
