The Tax Laws Amendment (2013 Measures No 2) Bill 2013 was recently amended by the House of Reps to remove from the Bill the provisions that proposed to create a new regulatory regime within the Tax Agent Services Act 2009 (TASA) for entities (individuals, partnerships and companies) in the financial services industry that give tax…
The First Home and Housing Construction Grants (Budget 2013) Amendment Bill 2013 (SA) was introduced into the SA House of Assembly on 6 June 2013. It proposes legislative amendments to extend the Housing Construction Grant (HCG) for a further 6 months as announced in the SA Budget 2013-14. The extension of the HCG means that home-buyers who…
The Qld Budget 2013-14 was handed down Tue 4.6.2013. Revenue measures announced included: the second payroll tax threshold increase from id=”mce_marker”.1m to id=”mce_marker”.2m will be deferred 2 years to now take effect from 1 July 2015 rather than 1 July 2013. (During the 2012 Qld election, a commitment was made to increase the payroll tax threshold from id=”mce_marker”m to…
The Payroll Tax Amendment Bill 2013 (ACT) was introduced into the ACT Legislative Assembly on Wed 5.6.2013. It proposes to amend the Payroll Tax Act 2011 (ACT) to bring the operation of that Act into greater harmonisation with the jurisdictions. The amendments will commence on the day after the Bill’s notification. [LTN 107, 5/6/13]
The transcript has been released of the 12 June 2013 hearing of the inquiry by the Parliamentary Joint Committee On Corporations and Financial Services into the now removed Schedules 3 and 4 of the Tax Laws Amendment (2013 Measures No 2) Bill 2013, which proposed a regulatory framework to make financial planners who give tax advice subject to…
The SA Budget 2013-14 was handed down on Thur 6.6.2013. SA Premier and Treasurer Jay Weatherill confirmed his earlier announcement of a temporary payroll tax rate for employers with taxable payrolls up to id=”mce_marker”.2m. A concessional tax rate of 2.5% will apply to annual taxable payrolls of $600,000 to id=”mce_marker”m. The concession will phase out to…
Introduced on 18.6.13 The State Revenue and Other Legislation Amendment (Budget Measures) Bill 2013 (NSW) was introduced into the NSW Legislative Assembly on Tues 18.6.2013 also. The Bill proposes to amend the Payroll Tax Act 2007 (NSW), the Payroll Tax Rebate Scheme (Jobs Action Plan) Act 2011 (NSW), and the First Home Owner Grant (New…
The ACT Budget 2013-14 was delivered Tue 4.6.2013. The ACT Treasurer Andrew Barr announced that the ACT Government was accelerating the abolition of conveyance duty on transactions valued over id=”mce_marker”.65m. A flat 5.5% rate will apply. Mr Barr also announced that from 1 July 2013, duty on insurance premiums will be cut by a further 20%. He…
The Australian Charities and Not-for-profits Commission Amendment Regulation 2013 (No 1) was agreed to by the Senate on Tue 25.6.2013. It was registered on 5 March 2013 and amends the Australian Charities and Not-for-profits Commission Regulation 2013 to specify minimum governance standards which registered entities must comply with in order to become registered under the ACNC Act…
ASFA has released its submission on the Exposure Draft – Income Tax Assessment and Other Legislation (Sustaining the Superannuation Contribution Concession) Amendment Regulation 2013 released on 31 May 2013. The draft regulations will complement the proposed measures in the Tax and Superannuation Laws Amendment (Increased Concessional Contributions Cap and Other Measures) Bill 2013 that will impose an…