Daily Archives: October 2, 2016

Tasmania: Duties Amendment (Motor Vehicle Industry Red Tape Reduction) Bill – broadening the exemption for ‘demonstrator’ and ‘courtesy’ cars

The Duties Amendment (Motor Vehicle Industry Red Tape Reduction) Bill 2016 (Tas) passed all stages without amendment on 15.9.2016 and awaits Royal Assent. The Bill will amend the Duties Act 2001 (Tas) to broaden the permitted use of demonstrator vehicles under the current duty exemption for new motor vehicles registered by licensed motor vehicle traders…

Budget Savings (Omnibus) Bill 2016 enacted (Act No. 55) – reduction in R&D offsets by 1.5% points: 45% to 43.5% and 40% to 38.5%

The Budget Savings (Omnibus) Bill 2016 received Royal Assent as Act No 55 of 2016 on 16.9.16, having passed the Senate without amendment the night before. The Bill implements measures announced in the 2016-17 Federal Budget and earlier Budget updates eg: introduces Single Touch Payroll (STP) reporting for substantial employers to automatically provide payroll and…

Victorian State Taxes – Objections lodged out of time – draft ruling on exercise of the Commissioner’s power (TAA.004v3)

The Taxation Administration Act 1997 (TAA) allows a taxpayer who is dissatisfied with an assessment (other than a compromise assessment) or certain decisions of the Commissioner of State Revenue (the Commissioner) to lodge a written objection with the Commissioner (see section 96 of the TAA). This includes an objection to an assessment of a tax liability…