*Charitable deposit takers (acting like quasi banks): ASIC has issued a consultation paper proposing to remove their exemption (RG 87) [94]

ASIC on Mon 20.5.2013, issued Consultation Paper 207 Charitable investment fundraisers (CP 207) which proposes reforms for charities that raise investment funds. The proposals do not affect fundraising by charities in the form of donations. ASIC said it has been increasing its focus on organisations which behave like banks and conduct bank-like activities, but which…

WA: Duties Legislation Amendment Bill 2013 introduced to unwind the scheduled abolition of various State taxes [108]

The Duties Legislation Amendment Bill 2013 (WA) was introduced into the WA Legislative Assembly. It proposes amendments to the Duties Act 2008 (WA) and the Duties Legislation Amendment Act 2008 (WA) to unwind the scheduled abolition of transfer duty on non-real business assets such as business licences, goodwill and intellectual property. The WA Government said…

NT: Budget Bill introduced [104]

The Revenue Legislation Amendment Bill 2013 (NT) was introduced into the NT Legislative Assembly on 15 May 2013. The Bill proposes to implement the NT Budget 2013-14 proposals to protect the Territory’s mineral royalty regime contained in the Mineral Royal Act (NT). It also proposes other minor amendments to the Payroll Tax Act (NT).

[LTN 95, 20/5/13]

Tas: Budget Bill introduced [107]

The Taxation Relief Bill 2013 (Tas) was introduced into the Tasmanian House of Assembly on Tue 28.5.2013. It implements the revenue measures announced in the 2013-14 Tasmanian Budget. This includes amendments to: the Duties Act 2001 (Tas) to exempt the transfer of caravans and camper trailers from motor vehicle duty from 1 July 2013; the Payroll Tax…