By Tax News Division on March 4, 2010
The Tax Agent Services Act 2009 which implements the new national Tax Agent Services regime commenced on Monday 1 March 2010. The Tax Practitioners Board Chairman, Mr Dale Boucher, reminded tax practitioners of the following transitional arrangements for tax agents:
For those who are currently registered as a tax agent, their registration will continue under the ...more
Posted in ATO, Legislation, Tax | Tagged ATO, BAS, GST, tax agent services regime |
By Tax News Division on February 17, 2010
The Tax Laws Amendment (2010 Measures No 1) Bill 2010 was introduced in the House of Reps on 10 February 2010. This Bill amends various parts of the superannuation legislation (as well as the ITAA 1936 and the Taxation Administration Act 1953) to implement the Government’s 2008-09 Budget announcement to provide a free superannuation clearing ...more
Posted in Government, Legislation, Superannuation | Tagged medicare, SME, Superannuation, tax bill |
By Tax News Division on January 22, 2010
On 6 January 2010, the Assistant Treasurer announced that the Government will introduce legislative changes relating to the requirements for the scrip-for-scrip CGT roll-over in respect of takeovers and mergers approved under the Corporations Act 2001.
Senator Sherry said that, as the law stands, the scrip-for-scrip roll-over may not be available to shareholders even though the ...more
Posted in CGT, Government, Legislation, Tax | Tagged CGT, Corporations Act, Legislation, mergers and takeovers, scrip-for-scrip |
By Tax News Division on January 22, 2010
Some issues of concern re ATO Draft Ruling on Div 7A and UPE
- by Tony Greco, Senior Tax Adviser, NIA
The ATO’s release in late December 2009 of Draft Taxation Ruling TR 2009/D8 concerning Div 7A and the treatment of unpaid entitlements of a corporate beneficiary of a trust has certainly generated much interest. If the ...more
Posted in ATO, Legislation, Tax | Tagged ATO, beneficiary, dividend, division 7A, loans, private company, taxation ruling, trust |
By Tax News Division on October 28, 2009
The Assistant Treasurer, Senator Nick Sherry, today [Fri 23.10.2009] announced the proposed final form of the Tax Agent Services Regulations 2009. The proposed Regulations contain key aspects of the tax agents’ services regime, including the qualifications and relevant work experience requirements for registration as a tax agent or BAS agent under the new tax agent services regime. They include new features that take account of submissions received during the final round of public
Posted in Government, Legislation, Tax | Tagged ATO, Legislation, regulations, Tax, Tax Agent, Tax agent service regulation, Tax Office |
By Tax News Division on May 29, 2009
A package of three Bills was introduced in the House of Representatives on Wednesday 27 May 2009, to give effect to 2009 Budget changes concerning the private health insurance rebate and consequential Medicare levy surcharge changes.
Posted in Government, Legislation | Tagged medicare, private health insurance |
By Tax News Division on February 4, 2009
The Government has announced changes to the temporary investment allowance, which was announced in December 2008.
Posted in Legislation, Tax | Tagged bill stimulus, bonus payment, Tax, working australians |
By Tax News Division on September 1, 2008
The First Home Saver Accounts Bill 2008 received Royal Assent on 25 June 2008. From 1 October 2008, accounts can be offered by banks, building societies and credit unions, public offer superannuation providers, life insurance companies and friendly societies.
Posted in Legislation | Tagged Banks, First home saver, Legislation |
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