New Regulation giving business names not registered on ASIC’s national register another 5 years to continue being registered on the ABR (and have an ABN)

Tax Month - September 2018

The A New Tax System (Australian Business Number) Amendment (Display of Trading Names) Regulations 2018 provides a further 5 year extension of the time, from 1 November 2018 to 31 October 2023, that unregistered  trading names, can remain on the on the Australian Business Register (ABR). These are business names that were on the ABR…

Draft legislation to prevent deductions for repayment of principal on ‘concessional loans’ owed by previously exempt State and Territory Bodies on becoming taxable (eg. privatised)

Tax Month - October 2018

On 12 October 2018, Treasury draft legislation to progress a measure announced in the 2018-19 Budget, that relates to State and Territory tax exempt entities, that become taxable, after 8 May 2018. This is described as an ‘integrity’ measure and is designed to stop such entities getting tax deductions on repayment of pre-privatising concessional loans. The deductions…