TAX AND SUPERANNUATION LAWS AMENDMENT (2014 MEASURES NO. 4) ACT 2014 (NO. 110, 2014)

Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Schedule(s)......................................................................................... 4

Schedule 1--Thin capitalisation 5

Part 1--Safe harbour debt amount 5

Income Tax Assessment Act 1997 5

Part 2--Worldwide gearing debt amount for outward investing entities (non-ADI) 6

Income Tax Assessment Act 1997 6

Part 3--Worldwide capital amount 11

Income Tax Assessment Act 1997 11

Part 4--Safe harbour capital amount 12

Income Tax Assessment Act 1997 12

Part 5--De minimis threshold 13

Income Tax Assessment Act 1997 13

Part 6--Worldwide gearing debt amount for inward investing entities (non-ADI) 14

Income Tax Assessment Act 1997 14

Part 7--Consequential amendments 25

Income Tax Assessment Act 1997 25

Part 8--Application 33

Schedule 2--Foreign dividends 34

Part 1--Foreign equity distributions on participation interests 34

Income Tax Assessment Act 1936 34

Income Tax Assessment Act 1997 34

Part 2--Repeal of portfolio dividend exemption for CFCs 38

Income Tax Assessment Act 1936 38

Part 3--Consequential amendments 39

Income Tax Assessment Act 1936 39

Income Tax Assessment Act 1997 39

Part 4--Application 42

Schedule 3--Foreign resident CGT integrity measures 43

Part 1--Duplicated assets of corporate groups 43

Income Tax Assessment Act 1997 43

Part 2--Assets used by permanent establishments 45

Income Tax Assessment Act 1997 45

Schedule 4--Tax receipts 47

Income Tax Assessment Act 1997 47

Taxation Administration Act 1953 47

Schedule 5--Miscellaneous amendments 50

Part 1--References to specific Ministers, Departments and Secretaries 50

Division 1--Main amendments 50

A New Tax System (Goods and Services Tax) Act 1999 50

Income Tax Assessment Act 1936 51

Income Tax Assessment Act 1997 52

Taxation Administration Act 1953 58

Division 2--Contingent amendments 60

Income Tax Assessment Act 1997 60

Part 2--Amendments relating to excise 61

Aviation Fuel Revenues (Special Appropriation) Act 1988 61

Part 3--Amendments relating to numbering 62

Income Tax Assessment Act 1997 62

Part 4--Other amendments of principal Acts 64

A New Tax System (Goods and Services Tax) Act 1999 64

Fuel Tax Act 2006 64

Income Tax Assessment Act 1936 64

Income Tax Assessment Act 1997 65

Superannuation Guarantee (Administration) Act 1992 71

Taxation Administration Act 1953 71

Part 5--Other amendments of amending Acts 74

New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 74

Superannuation Legislation Amendment (Stronger Super) Act 2012 74

Tax Laws Amendment (2009 Budget Measures No. 2) Act 2009 75

Tax Laws Amendment (2011 Measures No. 9) Act 2012 75

Tax Laws Amendment (2012 Measures No. 3) Act 2012 76

Tax Laws Amendment (2012 Measures No. 6) Act 2013 76

Tax Laws Amendment (Research and Development) Act 2011 76

Tax Laws Amendment (Temporary Budget Repair Levy) Act 2014 77

Commonwealth Numbered Acts

TAX AND SUPERANNUATION LAWS AMENDMENT (2014 MEASURES NO. 4) ACT 2014 (NO. 110, 2014) - NOTES