Key News Summary – the number of Australian properties, that have been divested, from their foreign owners is 316 (worth $381m) since 2015, when the ATO was given responsibility for policing these laws. On 10 Dec 2018, the Federal Treasurer issued a media release saying the Coalition Government has forced the sale of more…
PARIS (Reuters) – On 6 Dec 2018, Finance Minister Bruno Le Maire yesterday said France will tax digital giants at a national level from 2019 if European Union states cannot reach an agreement on a tax on digital revenues for the bloc. EU finance ministers failed to agree a tax on digital revenues on Tuesday…
Key News Summary – New Zealand introduced a Bill into its Parliament, on 5 Dec 2018, to impose NZ GST on foreign suppliers of goods and services of a value under NZ1,000, if their turnover exceeds the NZ registration turnover threshold of NZ$60,000 and associated changes. The Taxation (Annual Rates for 2019-20, GST Offshore…
Key News Summary: APRA has taken action against IOOF and its associated entities centering around their conflict of interest and failure to act in the best interests of members, by enforcing the RSE Licence, imposing more conditions, seeking to disqualify 5 individuals as directors of superannuation entities and seek declarations of contraventions of the SIS…
Key News Summary: The SIS Regs are now amended to allow recent retiree’s (aged up to 75) a 1 year exemption from the work test, if they have less than $300k in super, from 1 July 2019 (as announced in the 2018 Federal Budget). The Treasury Laws Amendment (Work Test Exemption) Regulations 2018 were…
The Tax Institute’s Senior Tax Counsel: Bob Deutsch’s Report, in its Members Newsletter: No. 47, Friday 7 December 2018 Key News Summary: The ’45-day’ holding rule is important, if it is still a requirement for claiming a ‘franking credit offset’. It is widely understood to be still a requirement, but is no-where to be found,…