NSW: State Revenue Legislation Amendment (Electronic Transactions) Bill introduced [55]

The State Revenue Legislation Amendment (Electronic Transactions) Bill 2014 (NSW) was introduced in the NSW Legislative Assembly Wed 10.9.2014. The Bill proposes to amend the Duties Act 1997 (NSW) and the Taxation Administration Act 1996 (NSW) to make further provision for the assessment and payment of tax by electronic means. Among other things, the amendments:…

*‘Tax (financial) adviser’ registration options: TPB updates [54]

The Tax Practitioners Board (TPB) has released the following updates: Summary of qualifications and experience requirements for registration as a tax (financial) adviser under the standard option – Table summarising the qualifications and experience requirements that apply from 1 January 2016. Qualifications and experience for tax (financial) advisers – Outlines the qualifications and experience requirements for registration…

*‘Sufficient number’ and ‘fee or other reward’ for tax (financial) advisers: TPB drafts Information Sheets released [53]

The Tax Practitioners Board (TPB) Wed 24.9.2014, released for comment the following 2 exposure draft Information Sheets: Draft Information sheet TPB(I) D23/2014 – the meaning of “fee or other reward” for tax (financial) advisers – will assist entities to determine what constitutes a fee or other reward. Draft Information sheet TPB(I) D24/2014 – the sufficient…

*ACNC to revoke registration of 400 charities that appear not to be operating [50]

The Australian Charities and Not-for-Profits Commission (ACNC) has announced that it plans to revoke the charity status of 400 organisations it believes are no longer operating. These charities are being removed from the ACNC Charity Register as they have not been in contact with the ACNC since its establishment on 3 December 2012, have not responded to…

Mining tax repeal – exemption from MRRT return lodgment: Legislative Instruments [49]

The ATO on Wed 24.9.2014, registered the following Legislative Instruments exempting low volume non-payers and large volume non-payers covered by the Instruments from having to lodge a Minerals Resource Rent Tax (MRRT) return in light of the repeal of the mining tax for various years as specified in the Instruments: Taxation Administration Act 1953 –…