The Tax and Superannuation Laws Amendment (2013 Measures No 1) Bill 2013 was introduced in the House of Reps on Wed 13.2.2013. It contains the following amendments: : the Bill proposes to amend the income tax law to allow corporate tax entities that have paid tax in the past, but are now in a tax…
Treasury Wed 13.2.2013, released draft legislation to implement the Government’s 2012-13 Federal Budget announcement that it would consolidate 8 of the existing dependency tax offsets into a single, streamlined offset with respect to the 2012-13 and future income years. From 2012-13 onwards, the new Dependant (Invalid and Carer) Tax Offset (DICTO) will only be available…
The Assistant Treasurer Mon 18.2.2013, released the Board of Taxation’s Review of taxation arrangements under the venture capital limited partnerships regime. The Government’s response to this report was announced as part of the Venture Australia package which forms an element of the Government’s Industry and Innovation Statement. The Board’s report is on its website. The…
M o r g a n’ s T a x M o n t h – February 2013 Developments – This is a collection of developments in Australian tax law and practice that occurred in February 2013 and which aims at being of relevance to tax lawyers.* F John Morgan A member of the Victorian…