Treasury has released exposure draft legislation and a consultation paper proposing changes to the regulatory framework for certain employee share schemes. The changes are intended to make it easier for businesses to create employee share schemes and seek to implement the Government’s 2021-22 Budget proposals. It should be noted that there are no changes to any…
Treasury has released the Treasury Laws Amendment (Miscellaneous Amendments) Rules 2021 (the “Amending Rules”) which make technical amendments to the JobKeeper rules [Federal Register of Legislation – F2020L00419] including a power to pay amounts after 31 March this year. As originally drafted, the Commissioner was unable to make any JobKeeper payments after 31 March 2022 regardless of circumstance. This applied…
The OECD has released detailed rules to assist countries to implement the second of a ‘two pillar’ reform of the international tax rules (addressing ‘digitalisation’ of the economy) – that is: ‘Pillar Two’. This 15% minimum global tax regime was agreed, in October 2021, by 137 countries and jurisdictions under the OECD/G20 Inclusive Framework on BEPS.…