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.…

Tasmanian Budget 2014-15 handed down [36]

The Tasmanian Budget 2014-15 was handed down Thur 28.8.2014. As part of the Tasmanian Government’s Job Creation Package, the Budget contains the fourth Employee Incentive Scheme Payroll Tax Rebate (EISPR4). This measure provides a payroll tax rebate of up to 2 years for private sector employers who create additional, eligible positions in Tasmania from 30 June 2014 to…

Confidentiality of client information: TPB final information sheet released [32]

The Tax Practitioners Board (TPB) has finalised TPB Information Sheet TPB(I) 21/2014 Code of Professional Conduct – Confidentiality of client information. The information sheet provides guidance on confidentiality of client information, which is one of the obligations for registered agents under item 6 of the Code of Professional Conduct in the Tax Agent Services Act…