Treasury Laws Amendment (Miscellaneous Amendments) Regulations 2019 – relating to ‘reversionary defined benefit pensions, successor fund transfers, deferred superannuation income streams, innovative income streams

On Tuesday 17.12.19, the Government registered Treasury Laws Amendment (Miscellaneous Amendments) Regulations 2019, which make minor and technical amendments to regulations in the Treasury portfolio, including tax laws, corporations laws, superannuation laws and credit laws. The amendments are part of the Government’s commitment to the care and maintenance of Treasury portfolio legislation. See below for a…

Treasury Laws Amendment (Miscellaneous Amendments) Regulations 2019 – service of compliance orders overseas and also general service overseas under the Mutual Assistance Treaty

On Tuesday 17.12.19, the Government registered Treasury Laws Amendment (Miscellaneous Amendments) Regulations 2019, which make minor and technical amendments to regulations in the Treasury portfolio, including tax laws, corporations laws, superannuation laws and credit laws. The amendments are part of the Government’s commitment to the care and maintenance of Treasury portfolio legislation. See below for a…

GSTR 2019/2 and PCG 2019/8 – GST: credit card issuing business – creditable purpose of acquisitions – ‘Green zone’ = 35% allocation to creditable ‘interchange’ services

On Wed 18.12.2019, the ATO issued 2 products for credit card issuers: GST Ruling GSTR 2019/2 (determining the creditable purpose of acquisitions in a credit card issuing business) and Practical Compliance Guideline PCG 2019/8 (ATO compliance approach to GST apportionment of acquisitions that relate to certain financial supplies). See below for a summary of this Ruling and Guide. [Tax…