‘Employee Share Scheme’ tax rules are too complicated – Law Council at Parliamentary Committee Public Hearings

The House of Reps Standing Committee on Tax and Revenue conducted a public hearing on Thursday 4.6.2020, as part of its inquiry into the tax treatment of employee share schemes (ESS). The Committee heard from Treasury officials and the Law Council of Australia, represented by Mr Andrew Clements. See below for further details. [Tax Month…

‘HomeBuilder’ program announced – $25,000 to build new homes or substantial renovations – open from 4 June to 31 December 2020

Consistent with the ‘JobSeeker’, ‘JobKeeper’ lingo, on Thursday 4.6.20, the Government announced their ‘HomeBuilder’ $25,000 cash grant scheme for building houses and renovating existing dwellings – designed to support the building industry, in the latter part of this calendar year.

See below for further details.

[Tax Month – June 2020]

Tax Month – June 2020

T a x  T e c h n i c a l  –  M o n t h l y  N e w s – June 2020 Edition – Tax developments for tax practitioners by a tax practitioner.   Compiled by F John Morgan A member of the Victorian Bar (www.FJMtax.com) Table of Contents ______________________________________________________________________________  …

Foreign investment reforms proposed – stronger, more flexible ‘national interest test and enforcement (tax information sharing)

On Friday 5.6.2020, the Government announced major reforms to the Foreign Acquisitions and Takeovers Act 1975. The proposed changes deal with national security risks, strengthening compliance measures, streamlining approval processes and administrative enhancements. There is a specific Tax implication involved in this too. See below for further details. [Tax Month – June 2020]    …