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18 Technicals

Technical

TOFA Stages 3 & 4 - Latest exposure draft: Published 01 Oct 2008
The Institute has lodged a submission with Treasury on the Exposure Draft of Tax Laws Amendment (Taxation of Financial Arrangements) Bill 2008 (ED Bill) and accompanying Explanatory Material released by the Assistant Treasurer on 1 October. More >

Review of the foreign source income anti-tax-deferral regimes: Published 04 Jul 2008
On 4 July, the Institute lodged a submission on the Board of Taxation’s Issues Papers on possible reforms to Australia’s foreign source income anti-tax-deferral regimes. More >

Alignment of small business tax concessions thresholds: Published 13 May 2008
The Government announced in the Budget that it will go ahead with enhancing access to the small business capital gains tax (CGT) concessions for taxpayers owning a CGT asset used in a business by a related entity and for partners owning a CGT asset used in the partnership business, with effect from the 2007-08 income year. More >

ALRC review of the legal professional privilege: Published 04 Apr 2008
Following on from the release of the ALRC's report entitled 'Privilege in Perspective: Client Legal Privilege in Federal Investigations, the Institute is continuing to advocate for statutory privelege with respect to tax advice provided by appropriately qualified and regulated professional accountants. More >

Review of the Taxation Treatment of Off-Market Share Buybacks: Published 01 Sep 2007
On 29 August, the Institute lodged a submission with the Board of Taxation in respect of its review of the taxation treatment of off-market share buy-backs. More >

Archived - Draft legislation on new legislative framework for tax practitioners: Published 30 Aug 2007
The long awaited exposure draft legislation on the new legislative framework for tax practitioners was released for public consultation on 7 May 2007. More >

Archived - Division 7A: Published 29 Aug 2007
On 6 December 2006, the Minister for Revenue and Assistant Treasurer announced amendments to the integrity rules concerning distributions by private companies, namely, Division 7A. This follows more than 18 months of lobbying by the Institute. More >

Alignment of the small business tax concessions thresholds – Archive: Published 17 Jul 2007
Alignment of small business tax concessions thresholds Measures to standardise the eligibility criteria for the various small business tax concessions are now law. The Institute was heavily involved in lobbying for these amendments More >

Division 7A - Archive: Published 13 Jul 2007
In early 2005, after extensive consultation with its members to identify the issues arising in the application of Division 7A, the Institute commenced its lobbying efforts with two detailed submissions lodged on 31 May 2005 More >

Archived - FTEs, abolition of foreign loss & foreign tax offsets quarantining: Published 21 Jun 2007
On 21 June 2007, the Tax Laws Amendment (2007 Measures No. 4) Bill 2007 and related bills were introduced into Parliament. These bills contain amendments relating to family trust elections, abolition of foreign loss and foreign tax credit quarantining, the ultimate beneficiary reporting rules and other measures. More >

Archived Tax Topics: Published 14 Jun 2007
Archived old Tax Topics More >

Archived - Tax agent registration – 16 May 2007 update: Published 16 May 2007
On 16 May 2007, the Institute received a further letter from the Chair of the Victoria Tax Agents' Board in relation to registration of tax agents and trusts. More >

Archived - Amendments to Small Business CGT Concessions: Published 12 Apr 2007
Tax Laws Amendment (2006 Measures No. 7) Bill received Royal Assent on 12 April 2007. After lodging a submission with the Board of Taxation in 2005, and consulting extensively with the Treasury and the Office of the Minister for Revenue and Assistant Treasurer, the Institute welcomes these improvements to the small business CGT concessions. More >

TOFA Stages 3 & 4 – the revised exposure draft legislation (continued): Published 12 Mar 2007
Hot Topics - continued More >

Archived - Australian equivalents of Internat Fin. Reporting Standards (AIFRS): Published 06 Dec 2006
On 6 December 2006, the Institute lodged a submission on a discussion paper issued by the Treasury on the appropriateness of the existing thin capitalisation rules following the adoption of AIFRS and options once the transitional period ends. More >

Archived - The Institute: pre-budget submission released: Published 23 Nov 2006
In its 2007/8 pre-budget submission lodged in November 2006, the Institute has called on the Federal Government to take on its recommendations across a number of key areas, including taxation. More >

Loss Recoupment: Published 31 Jan 2006
A joint submission on the same business test (SBT) was lodged on 31 January 2006. More >

More Tax Topics: Published 01 Jan 2006
More Tax Topics More >