Tax Laws Amendment (2011 Measures No. 9) Act 2012 (Cth)

Tax Laws Amendment (2011 Measures No. 9) Act 2012

No. 12, 2012 as amended

Compilation start date: 28 June 2013

Includes amendments up to: Act No. 110, 2014

About this compilation

The compiled Act

This is a compilation of the Tax Laws Amendment (2011 Measures No. 9) Act 2012 as amended and in force on 28 June 2013. It includes any amendment affecting the compiled Act to that date.

This compilation was prepared on 22 October 2014.

The notes at the end of this compilation (the endnotes) include information about amending Acts and instruments and the amendment history of each amended provision.

Uncommenced provisions and amendments

If a provision of the compiled Act is affected by an uncommenced amendment, the text of the uncommenced amendment is set out in the endnotes.

Application, saving and transitional provisions for amendments

If the operation of an amendment is affected by an application, saving or transitional provision, the provision is identified in the endnotes.

Modifications

If a provision of the compiled Act is affected by a textual modification that is in force, the text of the modifying provision is set out in the endnotes.

Provisions ceasing to have effect

If a provision of the compiled Act has expired or otherwise ceased to have effect in accordance with a provision of the Act, details of the provision are set out in the endnotes.

Contents 1 Short title 2 Commencement 3 Schedule(s) 4 Amendment of assessments Schedule 1—Form for portability of superannuation Retirement Savings Accounts Act 1997 Superannuation Industry (Supervision) Act 1993 Schedule 2—Capital gains tax and certain business restructures Part 1—Share and interest sale facilities for foreign interest holders in a restructure Income Tax Assessment Act 1997 Part 2—CGT demerger relief Income Tax Assessment Act 1997 Part 3—Roll‑overs for change of incorporation Division 1—Main amendments Income Tax Assessment Act 1997 Division 2—Consequential amendments Income Tax Assessment Act 1997 Division 3—Application of amendments Income Tax (Transitional Provisions) Act 1997 Schedule 3—GST financial supply provisions Part 1—Increasing financial acquisitions threshold A New Tax System (Goods and Services Tax) Act 1999 Part 2—Treatment of borrowings A New Tax System (Goods and Services Tax) Act 1999 Part 3—Hire purchase agreements A New Tax System (Goods and Services Tax) Act 1999 Schedule 4—New residential premises Part 1—Amendments A New Tax System (Goods and Services Tax) Act 1999 Part 2—Application of amendments Schedule 5—Deductible gift recipients Income Tax Assessment Act 1997 Schedule 6—Miscellaneous amendments Part 1—Corrections to cross‑references Division 1—Income Tax Assessment Act 1936 Division 2—Income Tax Assessment Act 1997 Division 3—Citizenship Income Tax Assessment Act 1997 Tax Laws Amendment (2006 Measures No. 3) Act 2006 Division 4—Tax‑related liabilities Income Tax Assessment Act 1997 Part 2—Repeal of references to Cultural Bequests Program and redundant subsection numbers Division 1—Cultural Bequests Program Income Tax Assessment Act 1997 Income Tax (Transitional Provisions) Act 1997 Division 2—Redundant subsection numbers A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999 Superannuation Industry (Supervision) Act 1993 Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991 Part 3—List of tax offsets Income Tax Assessment Act 1997 Part 4—Taxation Administration Act 1953 Part 5—Foreign superannuation funds Division 1—Pensions and annuities Income Tax Assessment Act 1936 Division 2—Superannuation lump sums Income Tax (Transitional Provisions) Act 1997 Part 6—Asterisks Division 1—A New Tax System (Wine Equalisation Tax) Act 1999 Division 2—Trading stock and revenue assets Income Tax Assessment Act 1997 Division 3—Other amendments Income Tax Assessment Act 1997 Part 7—References to Acts A New Tax System (Goods and Services Tax) Act 1999 Income Tax Assessment Act 1997 Taxation Administration Act 1953 Part 8—Extensions of time Income Tax Assessment Act 1997 Part 9—Cessation of membership of GST groups etc. A New Tax System (Goods and Services Tax) Act 1999 Part 10—Small business participation percentage Division 1—Companies Income Tax Assessment Act 1997 Division 2—Discretionary trusts Income Tax Assessment Act 1997 Part 11—Exempt income Division 1—Repeal of spent provisions Income Tax Assessment Act 1997 Division 2—Lists of exempt income Income Tax Assessment Act 1997 Division 3—Australian Victim of Terrorism Overseas Payment Income Tax Assessment Act 1997 Division 4—Amendments contingent on the Clean Energy (Household Assistance Amendments) Act 2011 Clean Energy (Household Assistance Amendments) Act 2011 Income Tax Assessment Act 1997 Part 12—Complying superannuation/FHSA life insurance policies Division 1—Virtual PST life insurance policies Income Tax (Transitional Provisions) Act 1997 Division 2—Complying superannuation/FHSA life insurance policies Income Tax (Transitional Provisions) Act 1997 Part 13—Applications for tax file numbers Income Tax Assessment Act 1936 Part 14—Taxable professional income Income Tax Assessment Act 1997 Part 15—Consolidated groups Division 1—Partnerships Income Tax Assessment Act 1997 Division 2—Amendments applying from 1 July 2002 Income Tax Assessment Act 1997 Part 16—Demutualisation Income Tax Assessment Act 1997 Part 17—Mining and quarrying definitions Income Tax Assessment Act 1997 Part 18—BAS amount Income Tax Assessment Act 1997 Part 19—Corporate tax rate Income Tax Assessment Act 1997 Taxation Administration Act 1953 Part 20—UK wounds and disability pension Income Tax Assessment Act 1997 Part 21—Repeal of redundant provisions A New Tax System (Goods and Services Tax) Act 1999 Income Tax Rates Act 1986 Taxation Administration Act 1953 Part 22—Limited amendment period Income Tax Assessment Act 1936 Part 23—Definition of managed investment trust Tax Laws Amendment (2010 Measures No. 3) Act 2010 Part 24—Equivalent foreign collective investment vehicles Taxation Administration Act 1953 Part 25—Self managed superannuation funds Division 1—Definition of self managed superannuation fund Superannuation Industry (Supervision) Act 1993 Division 2—References to self managed superannuation funds Income Tax Assessment Act 1997 Superannuation Industry (Supervision) Act 1993 Taxation Administration Act 1953 Part 26—Untaxed plan cap Income Tax Assessment Act 1997 Part 27—Correction of typographical errors Income Tax Assessment Act 1997 Taxation Administration Act 1953 Part 28—Foreign income tax offset, Medicare levy and surcharge Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Taxation Administration Act 1953 Taxation (Interest on Overpayments and Early Payments) Act 1983 Part 29—Adjusted tax Taxation Administration Act 1953 Part 30—Section 109CA of the Income Tax Assessment Act 1936 Income Tax Assessment Act 1936 Part 31—Franking debits Income Tax Assessment Act 1936 Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history Endnote 5—Uncommenced amendments [none] Endnote 6—Modifications [none] Endnote 7—Misdescribed amendments [none] Endnote 8—Miscellaneous [none] An Act to amend the law relating to taxation and superannuation, and for other purposes