Government to review rules for early release of superannuation, including: (1) to members in hardship and (2) to victims of crime as compensation from the perpetrator’s funds

Tax Month - December 2017

The Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer announced that the Coalition  Government that Treasury will review: the current rules governing early release of superannuation on grounds of severe financial hardship and compassionate grounds. the circumstances in which, superannuation assets should be available to pay compensation or restitution to victims of crime.…

Corporate tax transparency report for 2015–16 – ATO release report for over 2,000 of the biggest companies paying 60% of company tax

Tax Month - December 2017

On 7 December 2017, the ATO published the corporate tax transparency report for 2015–16 which includes some tax information of more than 2,000 large companies operating in Australia. You can read more about the ‘Transparency Measure‘ and the this Report on the ATO site. Also, many companies provide significantly more detailed information through the Board of Taxation’s Voluntary…

NSW: Revenue Legislation Amendment (Surcharge) Bill passed – exemption from Foreign owned purchaser surcharge for development of homes & form of declaration for small business exemption from insurance duty

Tax Month - December 2017, Tax Month - November 2017

The State Revenue Legislation Amendment (Surcharge) Bill 2017 (NSW) was passed by the NSW Legislative Council yesterday [Wed 22.11.2017] without amendment and received Royal Assent on 30 November 2017 as Act No 67 of 2017. The Bill makes various amendments to the Duties Act 1997, Land Tax Act 1956 and Land Tax Management Act 1956, including: an exemption…