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Current issues
Keep informed with the latest information about issues in tax that Chartered Accountants need to know.
Tax advice privilege
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The Institute is pleased to announce the Brisbane session to be held on Tuesday 11 October 2011.
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Institute lodged its response to the April 2011 Discussion Paper ‘Privilege in relation to tax advice’.
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Client tax advice privilege for registered tax agents is back on the policy agenda and the Institute has made a compelling ca...
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The Institute will be jointly hosting a series of briefing sessions with Minter Ellison Lawyers in Melbourne (24 June), Sydne...
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The Institute will be jointly hosting a series of briefing sessions with Minter Ellison Lawyers in Melbourne, Sydney and Bris...
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On 15 April 2011, the Assistant Treasurer released a discussion paper which explores the appropriateness of establishing a ta...
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Tax agent services
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Financial advisor’s exemption from the tax agent services regime (TASR) was extended by one year to 1 July 2013.
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On 28 February 2012, the Chair of the Tax Practitioners Board issued a message through the Board’s website on matters impacti...
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Minister Arbib has reminded BAS and Tax agents to renew their registrations by lodging an application for renewal before thei...
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The Board has issued a reminder that BAS and tax agents need to renew their registration before it expires on 1 March 2012. T...
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If you hold a transitional BAS agent registration (which expires on 29 February 2012), you will need to apply for renewal of...
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On 22 December 2011, the Institute lodged a submission with the Tax Practitioners Board on the Discussion Paper regarding sub...
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The Tax Practitioners Board has recently released two information sheets on required knowledge of the TASA including the Code...
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On 14 December 2011, the Chair of the Tax Practitioners Board issued a message through the Board’s website on matters impacti...
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The Tax Practitioners Board has released a draft discussion paper on reasonable care in ascertaining a client’s state of affa...
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The Institute has received a response in writing from the Tax Practitioners Board that the CA Program by itself will not be t...
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Carbon price
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On Tuesday 8 November 2011, the Senate voted on and passed into law the Clean Energy Future legislative package, which amongs...
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On 12 October 2011, the Clean Energy Bill and related Bills were passed by the House of Representatives.
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On 21 September 2011, the government released updated modelling of the impact of a carbon price which confirms the Australian...
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On 13 September 2011, the Clean Energy Bill 2011 and related Bills were introduced into Parliament.
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On 25 August 2011, the Institute lodged a submission on the Clean Energy Legislative Package released by the government on 28...
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The Institute met with Treasury on 19 August 2011 to discuss the income tax, GST and stamp duty treatment of emissions units ...
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The Institute met with Treasury on 17 August 2011 to discuss the excise and fuel tax credit amendments under the Clean Energy...
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On 28 July 2011, the government released exposure drafts of the four key bills in the government’s clean energy legislative p...
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The government should consider the tax policy options as part of the development of Australia’s comprehensive strategy to tra...
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The Institute of Chartered Accountants in Australia (the Institute) is calling for a series of complementary tax measures to ...
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Anti-tax deferral reforms
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On 29 June 2011, the Assistant Treasurer confirmed that the FAF rule will not apply for the 2010-11 income year.
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A submission has been made requesting that the ATO review the provisions regarding the inability of individual taxpayers to r...
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On 18 March 2011, the Institute lodged a submission on the exposure draft legislation for the CFC reforms and the introductio...
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On 17 February 2011, exposure draft legislation for the controlled foreign company (CFC) reforms and new foreign accumulation...
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The Institute has lodged a submission on Treasury’s July 2010 consultation paper on the reform of the controlled foreign comp...
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MRRT
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The Senate Economics Legislation Committee has released the transcript of its hearing into the Minerals Resource Rent Tax Bil...
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On 20 January 2012, Treasury released information, due to a freedom of information request, pertaining to the constitutionali...
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The Full Federal Court has handed down its judgement in a case concerning the interpretation of key PRRT concepts – namely ‘t...
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On 2 December 2011 Treasury released details of the expected Minerals Resource Rent Tax (MRRT) revenue for the years up to 20...
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As the MRRT gets the green light in the lower house of parliament, the focus shifts to the consultation process and whether i...
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On 26 October 2011 the Institute made a submission to the House of Representatives Standing Committee on Economics regarding ...
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The government has released for public consultation a second exposure of the draft Bill which provides part of the legislativ...
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The government has released for public consultation a draft bill which provides part of the legislative framework for the pet...
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Design of new mining tax regime starts to take shape.
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On 15 July 2011 the Institute lodged a submission with Treasury on the Minerals Resource Rent Tax exposure draft.
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Tax Forum
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The Assistant Treasurer gave a speech on 18 May 2012 on developing tax policy in areas such as Division 7A, not-for-profits, ...
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On 13 April 2012, the Deputy Prime Minister and Treasurer released the Business Tax Working Group final report on the tax tre...
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On 21 March, the Institute wrote to the Deputy Prime Minister, expressing our concerns with the timeframes associated with th...
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The Deputy Prime Minister and Treasurer gave a speech on 16 March 2012 discussing the government’s progress on some of the in...
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On 14 December 2011, the Institute’s Tax Counsel, Yasser El-Ansary, attended a Treasury roundtable discussion in relation to ...
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On 6 December 2011, the Institute’s tax counsel, Yasser El-Ansary, attended a meeting at Treasury to discuss how Treasury wil...
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On 5 December 2011, Rob Heferen, gave a speech entitled ‘Beyond the Tax Forum.’ It discusses how labour productivity could b...
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On 29 November 2011, the government announced a number of measures as part of the Mid-Year Economic and Fiscal Outlook stemmi...
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The Tasmanian State Tax Review Panel announced that it will not continue its formal taxation review due to the limited abilit...
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On 24 October 2011, the government released the video gallery and official transcripts for each session of the Tax Forum.
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