*Protection for relying on announced but un-enacted tax amendments: draft legislation released [9]

Treasury on Tue 25.3.2014, released for public consultation exposure draft legislation, which seeks to implement the Government’s announcement of a legislated protection of taxpayers, in relation to announced by un-enacted tax amendments. On 14 December 2013, the Government had announced that it would not proceed with 48 announced but un-enacted tax and superannuation measures. The Government had…

Developing country relief funds declared [7]

The Assistant Treasurer has gazetted a notice declaring, under s 30-85(2) of the ITAA 1997, that the following funds are developing country relief funds: Australians for Cambodian Education Public Fund; Connecting Hands Cambodian Relief Fund; FDCC Fund; Half the Sky Foundation Australia Limited-Overseas Aid Fund; HearingNepal Program Inc. Developing Country Relief Fund; ISIS Overseas Development Aid…

*Re-stating and centralising special conditions for tax concession entities: draft leg released [4]

Treasury on Wed 12.3.2014, released for comment draft legislation and draft regulations to implement the 2009-10 Budget proposal to re-state and centralise the special conditions for tax concession entities. In December 2013, the Government had announced that it would proceed with the proposal. The changes propose to: re-state the “in Australia” special conditions for income tax exempt…

*Australian Charities and Not-for-Profits Commission (ACNC) Repeal Bill introduced but referred to Senate Committee [3]

The Australian Charities and Not-for-profits Commission (Repeal) (No 1) Bill 2014 was introduced in the House of Reps on Wed 19.3.2014. It proposes to repeal the Australian Charities and Not-for-profits Commission Act 2012, thereby abolishing the Commission. The Government said that, given the regulators in place before the Commission was established can provide similar regulatory…

*Social Services and Other Legislation Amendment Bill 2013 amended: charities amendments deleted so 1 January 2014 start date remains [2]

The Social Services and Other Legislation Amendment Bill 2013 was passed by the Senate on Wed 5.3.2014, with Govt and Opposition amendments and now must go back to the House of Reps for consideration of those amendments. The amendments concern, among other things, the commencement of measures in the Bill regarding FTB and eligibility rules,…