Australian Industry Group does not support repeal of the loss carry-back rules or reduction in SME write-offs but does support repeal of the Mining Tax [7]

The Australian Industry Group (Ai Group) says it does not support the repeal of the company loss carry-back measures nor the winding back of the small business asset write-off threshold as proposed in the draft mining tax repeal Bills. In its submission on the draft Bills, Ai Group says it is of the view that,…

*Mining tax repeal Bill introduced – loss carry-back, low income super contribution abolished; SGC deferred; instant write-off reduced to $1k [3]

The Treasurer on Wed 13.11.2013, introduced into the House of Reps the Minerals Resource Rent Tax Repeal and Other Measures Bill 2013. It proposes to repeal the Minerals Resource Rent Tax Act 2012, Minerals Resource Rent Tax (Imposition – Customs) Act 2012, Minerals Resource Rent Tax (Imposition – Excise) Act 2012, and the Minerals Resource…

Monthly PAYG payers – Simpler (additional) method registered – first two months based on 1/3rd of last quarter with wash up payment to finish [1]

The ATO has made a determination (registered on Thur 7.11.2013) which provides certain monthly PAYG instalment payers with an additional and simplified method of working out the amount of monthly instalment liabilities in accordance with the Taxation Administration Act 1953. The ATO noted that during consultation of the proposed changes to introduce monthly PAYG instalments…