BEPS Multilateral Tax Treaty Convention was tabled in Parliament together with a “National Interest Summary” (that provides an excellent summary of the effect and reasons for Australia’s position on this Convention)

On Wed 16.8.17, the text, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (signed by Australia in Paris on 7 June 2017) was tabled in both Houses of Federal Parliament, together with an assessment of Australia’s national interest in signing this Convention, together with the position it has taken in ‘reserving’…

SPR 2017/D – draft instrument setting out ‘Superannuation Providers Reporting’ (SPR) requirements relating to members’ $1.6m ‘Transfer Balance Cap’

On Wed 16.8.2017, the ATO released Draft Reporting of event based transfer balance account information in accordance with the Taxation Administration Act 1953 – Draft SPR 2017/D2 (SPR = Superannuation Provider Reporting). It sets out the way in which superannuation providers in relation to superannuation plans, and life insurance companies in respect of certain life insurance…

Treasury Laws Amendment (2017 Measures No 4) Bill 2017 passes all stages – ITAA97 asset rollovers for mandatory transfers to a ‘MySuper’ fund

The Treasury Laws Amendment (2017 Measures No 4) Bill 2017 passed the House of Representatives on Wed 16.8.2017, without amendment and similarly passed the Senate on Thursday 17.8.2017. It gained Royal Assent on 23 Aug 2017 as Federal Act No. 94 of 2017. The Bill contains the following amendments: Income tax relief for transfers within a fund…