House of Representatives Committees

| House of Representatives Standing Committee on Economics

Footnotes

Chapter 1 Introduction

[1] Federal Commissioner of Taxation v BHP Billiton [2011] HCA 17.

[2] Dr Lisa Strelein, Taxation of Native Title Agreements, May 2008, Native Title Research Monograph, No. 1/2008, AIATSIS, p. 4.

[3] Mr Matthew Storey, NTSV, Committee Hansard, Canberra, 30 January 2013, p. 33.

[4] CME, Submission 5, p. 2.

[5] Dr Lisa Strelein, Taxation of Native Title Agreements, May 2008, Native Title Research Monograph, No. 1/2008, AIATSIS, p. 5.

[6] Dr Lisa Strelein, Taxation of Native Title Agreements, May 2008, Native Title Research Monograph, No. 1/2008, AIATSIS, p. 4.

[7] Professor Jon Altman, Submission 2, pp. 1-4; House of Representatives Standing Committee on Aboriginal and Torres Strait Islander Affairs, Unlocking the Future: The Report of the Inquiry into the Reeves Review of the Aboriginal Land Rights (Northern Territory) Act 1976, August 1999, p. 69.

[8] The Hon. Peter Costello MP, Treasurer, and the Hon. Daryl Williams AM QC MP, Attorney-General, ‘Taxation Implications of the Native Title Act and Legal Aid for Native Title Matters,’ Media Release, 13 February 1998, p. 1.

[9] Mr Warren Black, ‘Tax Implications to Native Title Holders of Compensation Payments,’ 1999, Journal of Australian Taxation, vol. 2(5), p. 344.

[10] Ms Miranda Stewart, ‘Native Title and Tax: Understanding the Issues,’ 2010, Indigenous Law Bulletin, vol. 7(21), pp. 7-11, fn. 1.

[11] Dr Lisa Strelein, Taxation of Native Title Agreements, May 2008, Native Title Research Monograph, No. 1/2008, AIATSIS, p. 64.

[12] Discussion overall drawn from: Australian Government, Native Title, Indigenous Economic Development and Tax, Consultation Paper, October 2010.

[13] Australian Government, Native Title, Indigenous Economic Development and Tax, Consultation Paper, October 2010, p. 5.

[14] The Hon. Nicola Roxon MP, Attorney-General, and the Hon. Jenny Macklin MP, Minister for Families, Community Services and Indigenous Affairs, ‘The Future of Native Title,’ Media Release, 6 June 2012.

[15] The Treasury, Tax Treatment of Native Title Benefits - Summary of consultation process, November 2012, p. 1.

[16] The Treasury, Tax Treatment of Native Title Benefits - Summary of consultation process, November 2012, p. 2.

[17] See row 1 of table 1.1.

[18] Explanatory Memorandum, pp. 14-15.

[19] Explanatory Memorandum, p. 16.

[20] Explanatory Memorandum, p. 17.

[21] Explanatory Memorandum, p. 18.

[22] Explanatory Memorandum, p. 19.

[23] Explanatory Memorandum, pp. 15-16.

[24] Explanatory Memorandum, p. 19.

[25] Explanatory Memorandum, p. 20.

[26] Discussion drawn from Explanatory Memorandum, pp. 23-26.

[27] If all Native Title is extinguished, then the amendments are non-permanent in that they will no longer effectively operate.

[28] Explanatory Memorandum, p. 3.

[29] Explanatory Memorandum, p. 4.

[30] Explanatory Memorandum, p. 5.

[31] Discussion drawn from Explanatory Memorandum, pp. 31-34.

[32] Policy Transition Group, Report to the Australian Government: Minerals and Petroleum Exploration, December 2010, pp. 7, 29.

[33] The Hon. Martin Ferguson MP, ‘Tax Deduction a Major Boost for Geothermal Energy in Australia,’ Media Release, 24 March 2011.

[34] Explanatory Memorandum, p. 7.

[35] Discussion drawn from Explanatory Memorandum, pp. 51-52.

[36] Explanatory Memorandum, p. 7.

[37] Discussion drawn from Explanatory Memorandum, pp. 57-59.

[38] <http://www.treasury.gov.au/PublicationsAndMedia/Publications/2012/Tax-Expenditures-Statement-2011/TES> viewed 25 January 2013.

[39] Explanatory Memorandum, p. 7.

[40] Explanatory Memorandum, p. 69.

[41] Internal bankers can be established for legitimate business purposes; Mr Peter Chochula, ATO, Committee Hansard, Canberra, 30 January 2013, p. 7.

[42] Mr Peter Chochula, ATO, Committee Hansard, Canberra, 30 January 2013, p. 3.

[43] French CJ, Heydon, Crennan and Bell JJ, Federal Commissioner of Taxation v BHP Billiton, [2011] HCA 17, pars 3-15.

[44] Gummow J, Federal Commissioner of Taxation v BHP Billiton, [2011] HCA 17, par. 78; ATO, ‘Decision Impact Statement: Commissioner of Taxation v BHP Billiton Finance Limited; Commissioner of Taxation v BHP Billiton Limited,’ <http://law.ato.gov.au/atolaw/ view.htm?DocID=LIT/ICD/M117-M125of2010/00001> viewed 10 December 2012.

[45] ATO, ‘Decision Impact Statement: Commissioner of Taxation v BHP Billiton Finance Limited; Commissioner of Taxation v BHP Billiton Limited,’ <http://law.ato.gov.au/atolaw/ view.htm?DocID=LIT/ICD/M117-M125of2010/00001> viewed 10 December 2012.

[46] French CJ, Heydon, Crennan and Bell JJ, Federal Commissioner of Taxation v BHP Billiton, [2011] HCA 17, pars 41-65.

[47] Greenwoods & Freehills, Tax Brief: Limited Recourse Debt, 7 July 2011, p. 3.

[48] The Hon. Wayne Swan MP, Deputy Prime Minister and Treasurer, Budget Measures: Budget Paper No. 2, 2012-13, May 2012, p. 32.

[49] The Treasury, Limited recourse debt – Amended definition: Summary of consultation process, November 2012, pp. 1-2.

[50] The Hon. Wayne Swan MP, Deputy Prime Minister and Treasurer, Explanatory Memorandum to the Tax Laws Amendment (2012 Measures No. 6) Bill 2012, November 2012, p. 76.

[51] Explanatory Memorandum, pp. 8-9.

[52] F. Gilders, J. Taylor, M. Walpole, M. Burton, T. Ciro, Understanding Taxation Law 2012, December 2011, LexisNexis, p. 367.

[53] F. Gilders, J. Taylor, M. Walpole, M. Burton, T. Ciro, Understanding Taxation Law 2012, December 2011, LexisNexis, p. 367.

[54] Explanatory Memorandum, pp. 79-80.

[55] ABS, ‘6302.0.55.002 – Information Paper: Changes to Average Weekly Earnings, Australia, April 2012, <http://www.abs.gov.au/AUSSTATS/abs@.nsf/ProductsbyCatalogue/ DD23CEA658FF10D1CA2579DF0014A104?OpenDocument> viewed 13 December 2012.

[56] R. Gittins, ‘Whopping tax break escapes taxman,’ Sydney Morning Herald, 5 February 2007, p. 17.

[57] Explanatory Memorandum, p. 82.

[58] Explanatory Memorandum, pp. 83-86.

[59] Explanatory Memorandum, p. 86.

[60] Explanatory Memorandum, pp. 87, 89.

[61] Explanatory Memorandum, pp. 87, 89.

[62] Explanatory Memorandum, pp. 9, 90.

[63] House of Representatives Selection Committee, Report No. 73: Private Members’ business and referral of bills to committees, 29 November 2012, p. 4.

Issues in the Bill - Schedule 1 – Native title benefits

[1] Mr Matthew Storey, NTSV, Committee Hansard, Canberra, 30 January 2013, p. 33.

[2] Various witnesses and organisations, Committee Hansard, Canberra, 30 January 2013, pp. 24-25.

[3] For example, Ms Fiona Martin, Submission 1, p. 5; NNTC, Submission 12, pp. 4-5.

[4] Law Council of Australia, Submission 13, pp. 5-6.

[5] NTSV, Submission 7, pp. 3-5.

[6] CME, Submission 5, p. 4; MCA, Submission 9, p. 7.

[7] MCA, Submission 9, pp. 5-8.

[8] MCA, Submission 9, pp. 7-8.

[9] Mr Robert Puckridge, ATO, Committee Hansard, Canberra, 30 January 2013, pp. 20-21.

[10] Mr Peter Seidel, ABL, Committee Hansard, Canberra, 30 January 2013, p. 24.

[11] Miss Catherine Crompton, Rio Tinto, Committee Hansard, Canberra, 30 January 2013, p. 21.

[12] Mr Mark Donovan, BHP Billiton, Committee Hansard, Canberra, 30 January 2013, p. 22.

[13] Mr Michael Meegan, YMAC, Committee Hansard, Canberra, 30 January 2013, p. 24.

[14] Ms Fiona Martin, UNSW, Committee Hansard, Canberra, 30 January 2013, p. 27; Ms Melanie Stutsel, MCA, Committee Hansard, Canberra, 30 January 2013, p. 27.

[15] Mr Paul McMahon, Treasury, Committee Hansard, Canberra, 30 January 2013, p. 26.

[16] ABL and YMAC, Submission 4, pp. 2-5.

[17] Mr Peter Seidel, ABL, Committee Hansard, Canberra, 30 January 2013, p. 20.

[18] Ms Fiona Martin, Submission 1, pp. 3-4.

[19] Mr Matthew Storey, NTSV, Committee Hansard, Canberra, 30 January 2013, p. 31.

[20] Ms Fiona Martin, UNSW, Committee Hansard, Canberra, 30 January 2013, p. 16.

[21] Ms Fiona Martin, Submission 1, p. 4.

[22] CME, Submission 5, p. 3.

[23] MCA, Submission 9, p. 4.

[24] CME, Submission 5, p. 3; MCA, Submission 9, pp. 4-5; Government of Western Australia, Submission 15, pp. 4-5.

[25] MCA, Submission 9, p. 5.

[26] Mr Paul McMahon, Treasury, Committee Hansard, Canberra, 30 January 2013, p. 32.

[27] Ms Libby Bunyan, FAHCSIA, Committee Hansard, Canberra, 30 January 2013, p. 31.

[28] Mr Gregory Pinder, Treasury, Committee Hansard, Canberra, 30 January 2013, p. 32.

[29] Mr Michael Meegan, YMAC, Committee Hansard, Canberra, 30 January 2013, p. 32.

[30] LCA, Submission 13, p. 5.

[31] Ms Fiona Martin, Submission 1, p. 4.

[32] Ms Fiona Martin, Submission 1, p. 4; ABL and YMAC, Submission 4, p. 6; NNTC, Submission 12, p. 4.

[33] ABL and YMAC, Submission 4, p. 6

[34] ABL and YMAC, Submission 4, pp. 5-6.

[35] NNTC, Submission 12, p. 3.

[36] LCA, Submission 13, p. 5.

[37] Ms Fiona Martin, Submission 1, p. 5.

[38] Mr Robert Puckridge, ATO, Committee Hansard, Canberra, 30 January 2013, p. 26.

[39] Mr Paul McMahon, Treasury, Committee Hansard, Canberra, 30 January 2013, p. 27.

[40] Mr Paul McMahon, Treasury, Committee Hansard, Canberra, 30 January 2013, p. 33.

[41] LCA, Submission 13, p. 7.

[42] Government of Western Australia, Submission 15, p. 4.

[43] MCA, Submission 9, p. 9.

[44] Mr Paul McMahon, Treasury, Committee Hansard, Canberra, 30 January 2013, p. 30.

[45] Mr Robert Puckridge, ATO, Committee Hansard, Canberra, 30 January 2013, p. 30.

[46] Mr Robert Puckridge, ATO, Committee Hansard, Canberra, 30 January 2013, p. 21.

[47] Submission evidence only; representatives of the AMA were unavailable to attend the hearing.

[48] AMA, Submission 11, p. 1.

[49] AMA, Submission 11, pp. 1-2.

[50] Explanatory Memorandum, p. 58.

[51] Explanatory Memorandum, p. 69.

[52] Mr Paul O’Donnell, Ashurst Australia, Committee Hansard, Canberra, 30 January 2013, p. 1.

[53] Neither the ICAA nor the PCA attended the hearing. Both organisations stated that their submissions fully represented their views.

[54] ICAA, Submission 8, p. 3; PCA, Submission 10, p. 2.

[55] Mr Ian Fullerton, Ashurst Australia, Committee Hansard, Canberra, 30 January 2013, p. 6.

[56] ICAA, Submission 8, p. 3.

[57] Mr Michael Pols, ATO, Committee Hansard, Canberra, 30 January 2013, p. 7.

[58] Ms Nan Wang, Treasury, Committee Hansard, Canberra, 30 January 2013, p. 7.

[59] Ashurst Australia, Submission 3, p. 2.

[60] Mr Peter Chocula, ATO, Committee Hansard, Canberra, 30 January 2013, p. 6.

[61] Mr Peter Chocula, ATO, Committee Hansard, Canberra, 30 January 2013, p. 6.

[62] Mr Michael Pols, ATO, Committee Hansard, Canberra, 30 January 2013, p. 6.

[63] Explanatory Memorandum, p. 76; The Treasury, Limited recourse debt – Amended definition: Summary of consultation process, November 2012, p. 2.

[64] PCA, Submission 10, p. 2.

[65] PCA, Submission 10, p. 2.

[66] ICAA, Submission 8, p. 3; PCA, Submission 10, p. 2.

[67] Ashurst Australia, Submission 3, p. 3; PCA, Submission 10, p. 7.

[68] Mr Ian Fullerton, Ashurst Australia, Committee Hansard, Canberra, 30 January 2013, p. 3.

[69] Ashurst Australia, Submission 3, p. 3.

[70] PCA, Submission 10, p. 7.

[71] Mr Peter Chocula, ATO, Committee Hansard, Canberra, 30 January 2013, p. 8.

[72] Mr Paul O’Donnell, Ashurst Australia, Committee Hansard, Canberra, 30 January 2013, p. 8.

[73] Ernst & Young, Submission 14, pp. 3-4.

[74] Ernst & Young, Submission 14, p. 3.

[75] Mr Paul Ellis, Ernst & Young, Committee Hansard, Canberra, 30 January 2013, p. 10.

[76] Mr Paul Ellis, Ernst & Young, Committee Hansard, Canberra, 30 January 2013, p. 11.

[77] Ernst & Young, Submission 14, p. 4.

[78] Ms Raylee O’Neill, Treasury, Committee Hansard, Canberra, 30 January 2013, p. 14.

[79] Mr Paul Ellis, Ernst & Young, Committee Hansard, Canberra, 30 January 2013, p. 9.

[80] Ernst & Young, Submission 14, pp. 5-6.

[81] Ernst & Young, Submission 14, p. 7.

[82] Ms Raylee O’Neill, Treasury, Committee Hansard, Canberra, 30 January 2013, p. 13.

[83] Ms Raylee O’Neill, Treasury, Committee Hansard, Canberra, 30 January 2013, p. 12.

[84] Ms Raylee O’Neill, Treasury, Committee Hansard, Canberra, 30 January 2013, p. 13.

[85] Ms Raylee O’Neill, Treasury, Committee Hansard, Canberra, 30 January 2013, p. 11.

[86] ISCA declined to attend the hearing. It stated that its views were fully represented in its submission.

[87] ISCA, Submission 6, p. 7.

Coalition Members’ Dissenting Report

[1] Ms Melanie Stutsel, Minerals Council of Australia, Committee Hansard, Canberra, 30 January 2013, p. 15 and Mr Mark Donovan, BHP Billiton, & Dr Debra Fletcher, The Chamber of Minerals and Energy of Western Australia, Committee Hansard, Canberra, 30 January 2013, p. 18.

[2] Committee Hansard, Canberra, 30 January 2013, p. 24.

[3] Ms Melanie Stutsel, Minerals Council of Australia, Committee Hansard, Canberra, 30 January 2013, p. 25.