*New High Court judge to replace Justice Crennan – Justice Nettle [8]

The Governor-General has appointed Mr Geoffrey Arthur Akeroyd Nettle QC, a member of the Court of Appeal of the Supreme Court of Victoria, as the next Justice of the High Court. Justice Nettle will replace Justice Susan Crennan AC, who leaves the Court on 3 February 2015.  Justice Nettle began his professional career as a solicitor at Mallesons Stephen Jaques in…

*Financial System Inquiry (by David Murray) – final report released [6]

The final report of the Murray Financial System Inquiry was released on Sun 7.12.2014. The Inquiry made 44 recommendations relating to the Australian financial system. The Inquiry identified 2 general themes where there is significant scope to improve the functioning of the financial system: 1. Funding the Australian economy; and 2. Competition. The Inquiry identified…

*Japan-Australia Economic Partnership Agreement: Bills receive Royal Assent and enter into force 15.1.15 [4]

The Customs Amendment (Japan-Australia Economic Partnership Agreement Implementation) Bill 2014 and Customs Tariff Amendment (Japan-Australia Economic Partnership Agreement Implementation) Bill 2014 on Thur 4.12.2014, received Royal Assent as Act Nos 124 and 125 of 2014, respectively. The Bills both passed all stages without amendment. The first Bill amends the Customs Act 1901 to implement Australia’s…

*Tax and Superannuation Laws Amendment (2014 Measures No 7) Bill 2014 – introduced [2]

The Tax and Superannuation Laws Amendment (2014 Measures No 7) Bill 2014 was introduced in the House of Reps on Thur 4.12.2014. It makes the following amendments: Super excess non-concessional contributions – option to withdraw – amends the ITAA 1997 and the TAA to allow individuals the option of withdrawing excess superannuation non-concessional contributions (plus 85%…

*Tax and Superannuation Laws Amendment (2014 Measures No 6) Bill 2014 received Royal Assent (Act No 133 of 2014) [1]

The Tax and Superannuation Laws Amendment (2014 Measures No 6) Bill 2014 received Royal Assent on 12 December 2014 as Act No 133 of 2014. It had passed all stages without amendment. The Bill contains amendments relating to: ▪       extending the existing CGT business restructure roll-overs. The Bill amends the ITAA 1997 to extend the existing CGT…