Treasury has released the Government’s Forward Work Program – Consultation on Tax Measures as at August 2012. The forward work program sets out the timetable for current and proposed consultation on tax and superannuation measures. It includes:
- details of currently being drafted – eg discussion papersmodernising the taxation of trust income, not-for-profit tax concessions, tax treatment of securities lending/repurchase agreements and short sales, GST – cross-border transport;
- details of draft legislation currently in preparation – eg tax treatment of losses – loss carry-back, cross-border profit allocation – transfer pricing rules (phase 2), improvements to the loss recoupment rules, airline transport fringe benefits, GST – cross-border transactions, portability of retirement savings between Australia and NZ.
[LTN 166, 28/8]