“Financial adviser” / “financial planner” legislative changes to be introduced before 1 July – Accountants’ limited licence and tightening eligibility [91]

The Parliamentary Secretary to the Treasurer, Bernie Ripoll, has advised that the Government intends to introduce legislation into Parliament before 1 July this year concerning the definition of financial planner. On 28 November 2012, the Minister for Financial Services released draft regulations that would replace the accountants’ exemption with a new form of limited licence. This would enable accountants…

MRRT legislative determination: nil rate and exemption from lodging [76]

The ATO has released Legislative Determination MRRT 2013/1 (Nil rate determination and exemption from lodging Minerals Resource Rent Tax (MRRT) instalment Liability Notices – Instrument (No 1) 2013). The ATO says the purpose of the instrument is to determine a nil instalment rate for explorers, pre production taxpayers and simplified MRRT method taxpayers under s 115-45(3)…

ACNC Advisory Board appointments [78]

The Government on Tue 19.2.2012, announced appointments to the Australian Charities and Not-for-profits Commission (ACNC) Advisory Board. The Assistant Treasurer said Mr Robert Fitzgerald AM would be Part-time Chair, with Ms Fiona McLeay as Part-time Deputy Chair. Other members appointed to the Board include: Ms Gina Anderson; Mr Paul O’Callaghan; Professor Myles McGregor-Lowndes OAM; Ms…

Charities registered by ASIC – help from the ACNC [79]

The commencement of the Australian Charities and Not-for-profits Commission (ACNC) now means that some of the most common dealings and obligations for charities currently registered with ASIC will be now be with the ACNC. Chartered Secretaries Australia (CSA) has reminded public companies limited by guarantee, proprietary companies limited by shares, registered Australian bodies, or foreign…