The AAT has ordered that a decision of the Tax Practitioners Board refusing to renew a tax agent’s registration be stayed pending the hearing of the tax agent’s application for a review of that decision. The applicant had operated as a registered tax agent for 26 years and in September 2013, the Board refused to renew his…
The Tax Practitioners Board (TPB) has reminded newly registered tax and BAS agents that they must advise the Board of how they meet the Board’s PI insurance requirements within 14 days of receiving notification of their registration. The Board’s view of PI insurance requirements are set out in explanatory paper TPB(EP) 03/2010. The Board also…
The Tax Practitioners Board (TPB) has updated its lists of courses that are Board approved courses in Australian taxation law, commercial law and basic accountancy principles. The qualifications lists also include individual units which have been approved by the Board as meeting part of the requirements of a Board approved course under the mix and match…
Minister for Social Services Kevin Andrews has reiterated the Government’s intention to abolish the Australian Charities and Not-for-profit Commission (ACNC). Speaking at an Australian Institute of Company Directors NFP Lunch, he said the Government considers the ACNC “imposes an unnecessary and ponderous compliance burden on the sector”. The Minister said the Government was looking to…
The Australian Charities and Not-for-profits Commission (ACNC) on Fri 24.1.2014, released a Commissioner’s Interpretation Statement on Indigenous charities. The ACNC’s legal team has also prepared a paper, which explains the background and reasoning behind the statement. The purpose of the Interpretation Statement is to provide guidance to ACNC staff on the how charity law applies…
The Australian Charities and Not-for-profits Commission (ACNC) has updated the online application form for registering as a charity to reflect new legislation. Parliament passed the new Charities Act in June 2013 and it came into effect on 1 January 2014. It sets out the meaning of “charity” for all Commonwealth purposes and gives it a statutory definition ie one…
The Charities (Definition of Government Entity) Instrument 2013 was registered on 20 December 2013. It prescribes types of government entities established under a law by a State or Territory which, by virtue of its status as a government entity, will be excluded from the definition of “charity” for the purposes of all Commonwealth laws. The Charities Act…
The Government on 20 December 2013 released its Emissions Reduction Fund Green Paper, setting out what it claims is a cost effective, practical and simple approach to reduce Australia’s emissions without a carbon tax. The Emissions Reduction Fund is the centre piece of the Government’s Direct Action Plan to cut emissions to 5% below 2000 levels by…
The Assistant Treasurer on Fri 31.1.2014, announced that he was streamlining the consultation arrangements for superannuation as part of the Government’s efficiency reforms. This includes the cessation of 3 non-statutory bodies that Senator Sinodinos said were no longer required: the SuperStream Advisory Council, Superannuation Advisory Committee and the Superannuation Roundtable. With reforms to the superannuation…
This Draft Determination, issued on Wed 15.1.2014, states that the application of Pt IVA of the ITAA 1936 to any particular scheme depends on a careful weighing of all the relevant facts and surrounding circumstances of each case. It states that without all relevant information, it is not possible to state definitively whether a provision in…