Footnotes

Chapter 1 - Introduction

[1]        Selection of Bills Committee, Report No. 2 of 2007, dated 8 February 2007.

Chapter 2 - The bill

[1]        Board of Taxation, A Post-implementation Review of the Quality and Effectiveness of the Small Business Capital Gains Tax Concessions in Division 152 of the Income Tax Assessment Act 1997, at: http://www.taxboard.gov.au/content/small_business_CGT/CGT_Report.asp

[2]        These amendments were contained in the New International Tax Arrangements (Managed Funds and Other Measures) Act 2005.

[3]        Definition from the Association of Superannuation Funds of Australia Ltd (ASFA) online dictionary, at: http://www.superannuation.asn.au/Online-Dictionary/default.aspx

[4]        Explanatory Memorandum, p. 47.

[5]        Explanatory Memorandum, p. 46.

[6]        Review of Business Taxation, A tax system redesigned, July 1999.

[7]        Farmers to be protected from changes to the 'effective life' of tractors and harvesters, Minister for Revenue and the Assistant Treasurer, the Hon. Peter Dutton, MP, Press Release No. 083, 16 November 2006.

[8]        Government to make further improvements to the tax system, Minister for Revenue and the Assistant Treasurer, the Hon. Peter Dutton, MP, Press Release No. 091, 7 December 2006.

[9]        Government to make further improvements to the tax system, Minister for Revenue and the Assistant Treasurer, the Hon. Peter Dutton, MP, Press Release No. 091, 7 December 2006.

[10]      Commissioner of Taxation vs Firth 120 FCR 450.

Chapter 3 - Issues in relation to Schedules 1 and 2

[1]        Dr Mark Burton, Submission 5.

[2]        Dr Mark Burton, Submission 5, Attachment: Small business tax advantages – towards holism with a suggested definition, typology and critical review, p. 19.

[3]        Dr Mark Burton, Submission 5.

[4]        Australian Financial Markets Association, Submission 4, p. 1.

[5]        Australian Financial Markets Association, Submission 4, p. 1.

[6]        Syndicated Lending, Reserve Bank Bulletin, September 2005.

[7]        Australian Bankers' Association, Submission 1, p. 1.

[8]        Australian Bankers' Association, Submission 1, p. 3.

[9]        Australian Bankers' Association, Submission 1, p. 3.

[10]      Australian Bankers' Association, Submission 1, p. 3.

[11]      Institute of Chartered Accountants in Australia (ICAA), Submission 2, p. 3.

[12]      Institute of Chartered Accountants in Australia (ICAA), Submission 2, p. 4.

[13]      Public hearing, 26 February 2007 – secretariat notes. (Transcript was not available at the time of preparing  this report).

[14]      Public hearing, 26 February 2007 – secretariat notes.

[15]      Australian Financial Markets Association, Submission 4, p. 2.

[16]      Australian Bankers' Association, Submission 1, p. 3.

[17]      Australian Financial Markets Association, Submission 4, p. 2.

[18]      Australian Financial Markets Association, Submission 4, p. 2.

[19]      Asia Pacific Loan Market Association (APLMA), Submission 4, p. 1.

[20]      Public hearing, 26 February 2007 – secretariat notes.

[21]      Public hearing, 26 February 2007 – secretariat notes.

[22]      Australian Bankers' Association, Submission 1, p. 2; and Australian Financial Markets Association, Submission 4, p. 2.

[23]      Public hearing, 26 February 2007 – secretariat notes.

[24]      Public hearing, 26 February 2007 – secretariat notes.

[25]      Australian Bankers' Association, Submission 1, p. 1.

[26]      Asia Pacific Loan Market Association (APLMA), Submission 4, p. 1.

[27]      Institute of Chartered Accountants in Australia (ICAA), Submission 2, p. 4.

[28]      Institute of Chartered Accountants in Australia (ICAA), Submission 2, p. 4.

[29]      Public hearing, 26 February 2007 – secretariat notes.

[30]      Institute of Chartered Accountants in Australia (ICAA), Submission 2, p. 3.

[31]      Public hearing, 26 February 2007 – secretariat notes.

Additional Remarks by Labor and Democrat Senators

[1]        Australian Bankers' Association, Submission 1, p. 1.

[2]        Australian Financial Markets Association, Submission 4, p. 3.

[3]        Asia Pacific Loan Markets Association, Submission 3, attachment, p. 3.

[4]        Australian Bankers' Association, Submission 1, p. 1.

[5]        Institute of Chartered Accountants in Australia,  Submission 2, p. 4.

[6]        Australian Bankers' Association, Submission 1, p. 3.