John Morgan is a tax specialist lawyer of more than three decades experience now practicing at the Victorian Bar - w: www.FJMtax.com e: f.john.morgan@vicbar.com.au

*Tax and Superannuation Laws Amendment (2014 Measures No 4) Bill 2014 passed; awaits Assent – thin cap; foreign resident CGT; foreign dividends [3]

The Tax and Superannuation Laws Amendment (2014 Measures No 4) Bill 2014 has been passed by Parliament without amendment and effectively awaits Royal Assent, after being passed by the House of Reps on Wed 24.9.2014 and then by the Senate on Thur 25.9.2014. The Bill’s main amendments are: Thin cap – (i) tightens the debt…

FoFA amendments: disallowance motion on Regulation to be considered by Senate [45]

Labor’s motion (moved by Senator Dastyari) to have the Corporations Amendment (Streamlining Future of Financial Advice) Regulation 2014 disallowed is scheduled to be considered by the Senate next Monday, 1 September 2014. The regulation seeks to give effect to the Government’s proposed amendments to the FoFA legislation to implement its 2013 election commitments. The Regulation proposes to…

Migrant settlement records linked to personal income tax data: ABS study [43]

The Australian Bureau of Statistics (ABS) on Fri 22.8.2014, released a research paper entitled, Feasibility Study of Linking Migrant Settlement Records to Personal Income Tax Data. In 2013, the ABS conducted a study to examine the feasibility of linking ATO personal income tax records with the Government’s migrant settlement records. The study was conducted with…

SA: Budget Bill update [38]

The Budget Measures Bill 2014 (SA) has passed the SA House of Assembly without amendment and has moved to the Legislative Council. The Bill proposes to implement the SA Budget 2014 measures including the introduction of an $8,500 Seniors Housing Grant (SHG) for new homes where contracts are entered into between 1 July 2014 and 30 June 2016 inclusive.…