Net effect of company tax cut traded off against repeal of other tax concessions [14]

Chartered Accountants say it will have negative impact on economy According to the Institute of Chartered Accountants, removing concessions on existing tax-based incentives to capital investment will have a negative impact on Australia’s GDP. The Institute, in its submission to the Business Tax Working Group (BTWG), argued that proposed options to trade off concessions on…

*‘Gag clauses’ banned in ‘Not For Profit’ sector contracts – Government announcement and amendments to legislation [12]

The Government on Wed 19.9.2012, announced that it would introduce legislation to ban gag clauses in Commonwealth contracts with the Not-For-Profit sector. The Assistant Treasurer said the legislation would build on the Government’s reforms to the NFP sector, including the new charities commission, by ensuring gag clauses are not used in any Commonwealth funding agreements.…

Senate committee report on NFP/Charities Bills tabled [11]

The Senate Community Affairs Legislation Committee tabled its report on Wed 12.9.2012, in the Senate on the Australian Charities and Not-for-profits Commission Bill 2012, Australian Charities and Not-for-profits Commission (Consequential and Transitional) Bill 2012 and the Tax Laws Amendment (Special Conditions for Not-for-profit Concessions) Bill 2012. The Committee noted that the Government had adopted the…

Charities and NFP Bills: Senate Community Affairs Legislation Committee releases transcript of its public hearing on 4 September 2012 [10]

The Senate Community Affairs Legislation Committee is currently conducting an inquiry into the Australian Charities and Not-for-profits Commission Bill 2012, Australian Charities and Not-for-profits Commission (Consequential and Transitional) Bill 2012 and the Tax Laws Amendment (Special Conditions for Not-for-profit Concessions) Bill 2012. The Committee has now released the transcript of its public hearing held on…

Divided House of Reps Committee recommends NFP/charities Bills be passed without amendment or delay – but with some other recommendations [9]

On Mon 10.9.2012, in the House of Reps, the report was tabled of the Parliamentary Joint Committee on Corporations and Financial Services inquiry into the Australian Charities and Not-for-profits Commission Bill 2012, Australian Charities and Not-for-profits Commission (Consequential and Transitional) Bill 2012 and the Tax Laws Amendment (Special Conditions for Not-for-profit Concessions) Bill 2012. The…

*Legislation introduced to rename the Federal Magistrates Court as the Federal Circuit Court of Australia [7]

The Federal Circuit Court of Australia Legislation Amendment Bill 2012 was introduced in the House of Reps, on Thur 20.9.2012. It amends the Federal Magistrates Act 1999 and other legislation to rename the Federal Magistrates Court as the Federal Circuit Court of Australia, and to change the title of Chief Federal Magistrate to Chief Judge…