The Paid Parental Leave Amendment Bill 2014 on Mon 2.6.2014, passed the House of Reps without amendment and now moves to the Senate. It proposes to ease administrative burdens on business by amending the Paid Parental Leave legislation to remove the requirement for employers to provide Government funded parental leave pay to their eligible long-term…
The package of 15 Bills, including the Tax Laws Amendment (Temporary Budget Repair Levy) Bill 2014, was passed by the Senate on Tue 16.6.2014, without amendment and effectively awaits Royal Assent. The package of Bills will amend the tax laws to introduce a 3-year progressive levy on high income earners. The Levy will apply at…
Tax Laws Amendment (Implementation of the FATCA Agreement) Bill 2014 – passed the House of Representatives on 5 June 2014. It supports implementation of the US FATCA Agreement. [LTN 107, 5/6/14] Passed the Senate and awaits Royal Assent Tax Laws Amendment (Implementation of the FATCA Agreement) Bill 2014 – has passed all stages without amendment,…
The Tax and Superannuation Laws Amendment (2014 Measures No 3) Bill 2014 has passed the House of Reps without amendment and now moves to the Senate. It proposes to amend the capital allowances provisions in the ITAA 1997 to limit immediate deductibility of expenditure on mining rights and mining information. DATE OF EFFECT: applies to…
The following Bills have passed the House of Reps without amendment and now move to the Senate: Tax and Superannuation Laws Amendment (2014 Measures No 2) Bill 2014 – contains amendments to prevent dividend washing, protect taxpayers re anticipation of certain discontinued announcements, and changes to the Medicare levy low-income threshold for families. [LTN 107,…
The Tax Laws Amendment (2014 Measures No 1) Bill 2014 on 30 May 2014 received Royal Assent as Act No 34 of 2014. It had passed all stages without amendment. The Bill amends the GST Act and the TAA to ensure that overpaid GST is refundable only in certain circumstances. [LTN 104, 2/6/14]
M o r g a n’ s T a x M o n t h – June 2014 Developments – This is a collection of developments in Australian tax law and practice that occurred in June 2014 and which aims at being of relevance to tax lawyers.* F John Morgan A member of the Victorian…