The Tax Laws Amendment (Cross-Border Transfer Pricing) Bill (No 1) 2012 received Royal Assent on 8 September 2012 as Act No 115 of 2012. It had passed all stages without amendment and makes retrospective amendments with effect from 1 July 2004 to confirm that transfer pricing rules contained in Australia’s tax treaties and incorporated into…
The in the House of Reps on Wed 19.9.2012. It contains the following amendments: amends the ITAA 1997 to phase out the mature age worker tax offset from 1 July 2012 for taxpayers born on or after 1 July 1957. DATE OF EFFECT: 1 July 2012; amends the definition of “eligible no-till seeder” in s…
The Tax Laws Amendment (2012 Measures No 4) Bill 2012 effectively awaits Royal Assent after having been passed without amendment by the Senate on Wed 19.9.2012. The Bill contains amendments re: LAFHAs; GST and representatives of incapacitated entities; consolidation and penalties. The Bill had been amended in the House to delete the existing Sch 1…
M o r g a n’ s T a x M o n t h – September 2012 Developments – This is a collection of developments in Australian tax law and practice that occurred in September 2012and which aims at being of relevance to tax lawyers.* F John Morgan A member of the Victorian Bar…