The Coalition on Wed 21.8.2013, released its policy on boosting manufacturing in Australia. The Coalition pledged that, if elected, it would examine the effectiveness of existing tax incentives and develop recommendations for improving the incentive regime for innovation and R&D investment. It said it would also progressively restore funding to Export Market Development Grants starting…
The Australian Greens have proposed that the company tax rate should be reduced to 28% for small businesses from 1 July 2014. Greens Leader Senator Christine Milne said the proposal has been costed at id=”mce_marker”.75bn over the forward estimates on the budget figures. Source: Australian Greens media release, 7 August 2013 [LTN 151, 7/8/13]
The Coalition has announced that, if elected, it would cut the company tax rate by 1.5% from 1 July 2015. It said the proposed company tax rate of 28.5% is part of its “significant tax reform agenda to be delivered within the first term”. According to the Coalition, the cut to the company tax rate will cost…
The Opposition Leader Tony Abbott has announced that, if elected, he would on “day one” instruct the Department of Prime Minister and Cabinet to draft legislation to repeal the carbon tax. He added that within the first month, the Cabinet would approve the legislation and that on the first day of the new Parliament, the…
The Prime Minister, on Sun 4.8.2013, announced that the Federal Election will be held on Saturday, 7 September 2013. In making the announcement, Mr Rudd said that “on the economy, with the end of the China resources boom, we can no longer afford to have all our eggs just in one basket”. He said “we must broaden…
The Diplomatic Privileges and Immunities (Indirect Tax Concession Scheme) Amendment Determination 2013 (No 1) was registered on the Federal Register of Legislative Instruments on Thur 22.8.2013. It amends the Diplomatic Privileges and Immunities (Indirect Tax Concession Scheme) Determination 2000 to create new and amend existing Indirect Tax Concession Scheme (ITCS) packages which provide tax concessions…
The 43rd Parliament was prorogued at 5.29pm on Monday 5.8.2013 and the House of Representatives was dissolved at 5.30pm on the same day. A general election for the House of Representatives and half of the Senate will be held on 7 September 2013. All Bills that had not passed both Houses of Parliament have now lapsed. These…
Even though the election was on 7 September 2013, and it was clear that night that the Coalition had won, it seemed wise to report this in this ‘August Developments’ edition of Tax Month – particularly as it means that many of the Labor policies won’t be relevant.
M o r g a n’ s T a x M o n t h – August 2013 Developments – This is a collection of developments in Australian tax law and practice that occurred in August 2013 and which aims at being of relevance to tax lawyers.* F John Morgan A member of the Victorian…
The CPI indexation factor, which is used for FBT purposes concerning remote area benefits (under ss 60 and 60AA of the FBTAA), for the June quarter 2013 increased 0.4 from the March 2013 quarter to 102.8. Inflation for the year to 30 June 2013 was running at 2.4%. The most significant price rises for the quarter were for medical and hospital…