Footnotes

Chapter 1 - Introduction

[1]        The Hon. John Howard MP, Prime Minister of Australia, the Hon. Peter Costello MP, Treasurer of Australia, 'Taskforce on reducing the regulatory burden on business', Joint Press Release, 12 October 2005.

[2]        Regulation Taskforce 2006, 'Rethinking regulation: Report of the Taskforce on reducing regulatory burdens on business', Report to the Prime Minister and the Treasurer, p. 122. http://www.regulationtaskforce.gov.au/finalreport/regulationtaskforce.pdf (accessed 29 May 2007).

[3]        'Rethinking regulation: Report of the Taskforce on reducing regulatory burdens on business', Australian Government's response, http://www.eowa.gov.au/Reporting_And_Compliance/Australian_Government_Response.pdf (accessed 29 May 2007).

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

Chapter 2 - The bill

[1]        See The Hon. Peter Costello MP, Treasurer, 2006–07 Budget Speech, 9 May 2006, pp. 5–6. http://www.budget.gov.au/2006-07/speech/download/Budget_Speech.pdf (accessed 16 May 2007).

[2]        Explanatory Memorandum (EM), p. 3.

[3]        EM, p. 5.

[4]        EM, p. 4.

[5]        Schedule 1, item 1, subparagraph 328-110(1)(b)(i) of the ITAA 1997

[6]        EM, p. 11.

[7]        EM, p. 14.

[8]        See Income Tax Assessment Act 1997, Schedule 3, item 2, section 328-10.

[9]        EM, p. 20.

[10]      Subsection 995-1 of the ITAA 1997 gives definitions of 'affiliate' and 'connected with'.

[11]      EM, p. 32

[12]      The Hon. Peter Costello MP, Treasurer, 2006–07 Budget Speech, 9 May 2006, pp. 5–6. http://www.budget.gov.au/2006-07/speech/download/Budget_Speech.pdf (accessed 16 May 2007).

[13]      EM, p. 43.

[14]      EM, p. 42.

[15]      The Hon. Peter Costello MP, Treasurer, 2006–07 Budget Speech, 9 May 2006, pp. 5–6. http://www.budget.gov.au/2006-07/speech/download/Budget_Speech.pdf (accessed 16 May 2007).

[16]      Tax Laws Amendment (Small Business) Bill 2007, Aligning concessions for small business, p. 2.

[17]      Tax Laws Amendment (Small Business) Bill 2007, Aligning concessions for small business p. 2.

[18]      The Hon. Mr Peter Dutton, Minister for Revenue, House of Representatives Hansard, 10 May 2007, p. 3.

[19]      EM, p. 36.

[20]      EM, p. 36.

[21]      EM, p. 38.

[22]      Correspondence from Treasury, 'Consultation', dated 24  May 2007.

[23]      Submission 1, pp. 1–2.