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…
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…
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…
The following Bills received Royal Assent on 22 September 2012: Legislative Instruments Amendment (Sunsetting Measures) Bill 2012 – Act No 135 of 2012. Statute Law Revision Bill 2012 – Act No 136 of 2012. [LTN 188, 27/9]
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…
The Australian Charities and Not-for-profits Commission Bill 2012 and the Australian Charities and Not-for-profits Commission (Consequential and Transitional) Bill 2012 were passed the House of Reps on Tue 18.9.2012, with 15 Government amendments and now move to the Senate. The Bills seek to establish a new regulatory system for the not-for-profit (NFP) sector, including the…
The Tax Laws Amendment (Investment Manager Regime) Bill 2012 received Royal Assent on Thur 13.9.2012, as Act No 126 of 2012. The Bill had passed all stages without amendment and contains the first 2 elements of the Government’s Investment Manager Regime – the FIN 48 measures or “Element 1” of the IMR and the “conduit…
The Personal Liability for Corporate Fault Reform Bill 2012 was introduced in the House of Reps on Wed 19.9.2012. It implements the Council of Australian Governments’ (COAG) Directors’ Liability reform, which aims to harmonise the imposition of personal criminal liability for corporate fault across Australian jurisdictions. The amendments proposed to be made by this Bill…
The Tax Laws Amendment (Cross-Border Transfer Pricing) Bill (No 1) 2012 received Royal Assent on 8 September 2012 as Act No 115 of 2012. It had passed all stages without amendment and makes retrospective amendments with effect from 1 July 2004 to confirm that transfer pricing rules contained in Australia’s tax treaties and incorporated into…
The in the House of Reps on Wed 19.9.2012. It contains the following amendments: amends the ITAA 1997 to phase out the mature age worker tax offset from 1 July 2012 for taxpayers born on or after 1 July 1957. DATE OF EFFECT: 1 July 2012; amends the definition of “eligible no-till seeder” in s…