The Australian Charities and Not-for-profits Commission (ACNC) is calling on charities to share their experience of red tape in the sector through an online survey. The survey is conducted by Ernst and Young and is part of a wider research project to measure the baseline of red tape imposed on the sector. Specifically, the survey…
The Australian Charities and Not-for-profits Commission (Repeal) (No 1) Bill 2014 was introduced in the House of Reps on Wed 19.3.2014. It proposes to repeal the Australian Charities and Not-for-profits Commission Act 2012, thereby abolishing the Commission. The Government said that, given the regulators in place before the Commission was established can provide similar regulatory…
The Taxation Administration Act 1953 – Provision of further time for lodgment of the 2014 Minerals Resource Rent Tax (MRRT) Return – Low volume non-payers’ Instrument (No 1) 2014 was registered on Fri 7.3.2014. It allows entities that are covered by it further time to lodge their 2014 MRRT return in light of the announcement…
The ATO on Mon 3.3.2014, registered Taxation Administration Act 1953 – Nil rate determination and exemption from lodging Minerals Resource Rent Tax (MRRT) Instalment Liability Notices – Instrument (No 1) 2014. The Instrument determines a nil instalment rate for explorers, pre-production taxpayers and simplified MRRT method taxpayers under s 115-45(3) of Sch 1 to the TAA and…
The Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 was negatived at Second Reading stage in the Senate Tue 25.3.2014 – the vote was 47:8 against. The Bill will therefore not proceed. The Bill contained measures to repeal the mining tax, abolish company loss carry-back, wind back capital allowance deductions for small business,…
The package of 9 carbon tax repeal Bills [the other 2 Bills in the original 11 Bill package – the Clean Energy Finance Corporation (Abolition) Bill 2013 and the Climate Change Authority (Abolition) Bill 2013 – had previously been negatived at Second Reading stage in the Senate] were on Thur 20.3.2014, negatived at Third Reading…
The Clean Energy Finance Corporation (Abolition) Bill 2013 [No 2] was introduced in the House of Reps on Thur 20.3.2014. It seeks to give effect to the Government’s commitment to abolish the Clean Energy Finance Corporation (CEFC). The Bill repeals the Clean Energy Finance Corporation Act 2012 (CEFC Act). The Bill contains arrangements to ensure…
The Climate Change Authority (Abolition) Bill 2013 was negatived at Second reading stage in the Senate on Mon 3.3.2014 – the vote was 38:32. The Bill will therefore not proceed. It had proposed to repeal the Climate Change Authority Act 2011 and to abolish the Climate Change Authority. The other 9 Bills in the carbon…
From the ATO website: Register of SMSF messaging providers – The ATO notes that from 1 July 2014, self-managed superannuation fund (SMSF) trustees are required to receive electronic messages and payment associated with employer contributions using the SuperStream data and payment standard. [The Register] contains a list of SMSF messaging service providers. [LTN 59, 27/3/14]
ASIC has fined a SMSF administrator id=”mce_marker”0,200 in relation to allegations that it made potentially misleading statements about the cost of setting up a SMSF. ASIC said its concerns related to an advertisement by the SMSF administrator which allegedly made potentially misleading representations that SMSF set up was free and that pension fund set up…