Several amending Bills, including the Tax Laws Amendment (2010 Measures No 4) Bill 2010, were reintroduced into Federal Parliament on 29 September 2010. Among the measures in the No 4 amending Bill are: Third party GST adjustments: the GST Act is being amended with effect from 1 July 2010 to ensure the third party payment [...]
An amending Bill (the Tax Laws Amendment (2009 Measures No 2) Bill 2009), which was introduced into Parliament on 19 March 2009, contains amendments to give effect to a range of measures, including the changes to increase access to the CGT small business reliefs. The CGT small business relief changes will increase access to the [...]
The International Tax Agreements Amendment Bill (No 1) 2009, which was introduced into Parliament on 19 March 2009, is amending the International Tax Agreements Act 1953 (Agreements Act) to give the force of law in Australia to the following tax agreements: the Agreement between the Government of Australia and the Government of the British Virgin [...]
The Tax Laws Amendment (Small Business and General Business Tax Break) Bill 2009, which was introduced into Parliament on 19 March 2009, contains the amendments to the ITAA 1997 to provide the announced Tax Break (investment allowance) for new tangible depreciating assets and new expenditure on existing assets. The amount of a taxpayer’s investment in an [...]
The Tax Laws Amendment (2009 Measures No 1) Bill 2009 was introduced into Parliament on 12 February 2009. It contains the following amendments: PAYG instalment reduction for small business: amendments are being made to the provision which provides how the Commissioner works out the amount of the PAYG instalments on the basis of GDP-adjusted notional [...]
The Tax Laws Amendment (Taxation of Financial Arrangements) Bill 2008, which will give effect to the Taxation of Financial Arrangements (TOFA) Stages 3 and 4, was introduced into Parliament on 4 December 2008. TOFA Stages 3 and 4 provides a comprehensive framework for taxing financial arrangements. The measures contain rules that cover tax timing treatments [...]
The Tax Laws Amendment (2008 Measures No 5) Bill 2008 was passed by Parliament on 2 December 2008. This amending Bill contains amendments dealing with the GST margin scheme, the thin capitalisation regime, exemption from interest withholding tax, jointly provided fringe benefits and the eligible investment business rules. For the text of the Bill [...]
The Tax Laws Amendment (2008 Measures No 6) Bill 2008 was introduced into Parliament on 3 December 2008. The amending Bill contains amendments relating to CGT rollovers for corporate restructures, amendments to assistance in collection provisions, amendments to vary the period within which an employer can make a superannuation contribution after the due date and [...]
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29 Sep 2010
Amending Bills reintroduced
Several amending Bills, including the Tax Laws Amendment (2010 Measures No 4) Bill 2010, were reintroduced into Federal ..
15 Sep 2010
Freezing orders continued
The Federal Court has continued freezing orders against five foreign corporations which had never filed tax returns in A..
31 Aug 2010
Penalty for recklessness
The Federal Court has allowed the Commissioner's appeal against a decision of the AAT and held that the taxpayer had fai.. |