*Korea-Australia Free Trade Bills passed [3]

The Customs Amendment (Korea-Australia Free Trade Agreement Implementation) Bill 2014 and Customs Tariff Amendment (Korea-Australia Free Trade Agreement Implementation) Bill 2014 have now passed all stages without amendment and effectively await Royal Assent, after being passed by the Senate on Wed 1.10.2014. The Bills will give effect to certain obligations under the Free Trade Agreement…

*Tax and Superannuation Laws Amendment (2014 Measures No 4) Bill receives Royal Assent [1]

The following Bills received Royal Assent on 16 October 2014 (they had passed all stages without amendment): Tax and Superannuation Laws Amendment (2014 Measures No 4) 2014 – Act No 110 of 2014 – contains amendments concerning thin cap, foreign residents and capital gains, foreign dividends, and the issue of tax receipts to taxpayers. Omnibus Repeal Day…

Financial advice and SoAs: regs made following PUP deal [68]

The Corporations Amendment (Statements of Advice) Regulation 2014 was registered on Mon 8.9.2014. It amends the Corporations Regulations 2001 to make a number of amendments to the financial disclosure requirements. The amendments alter some of the provisions regarding the Statement of Advice (SoA), a disclosure document which generally must be provided to retail clients receiving…

Vic payroll tax: SRO disclosure opportunity or ‘employers’ who’ve treated the contractor provisions as applying holders of Private Security Individual Operator Licences [66]

The Victorian State Revenue Office (SRO), on Tuesday 30.9.2014, issued Payroll Tax Bulletin PTX 1/14 (Security Industry – Employers of Holders of Private Security Individual Operator Licences – Opportunity for Voluntary Disclosure). The SRO says the Commissioner of State Revenue (Vic) is aware that some security firms hire holders of a Private Security Individual Operator…