Digital Certificates/Tax Agent Registration 
There was some discussion on the digital certificate project at the ATO Tax Practitioner Forum.  
 
Trading Stock 
The ATO released Taxation Ruling TR 2006/8 in September 2006, which discusses the valuation of trading stock at cost by retailers and wholesalers. 
 
Service entity ruling and booklet: finalised at last 
The long-awaited ruling on the deductibility of service fees paid by professional partnerships to service entities, TR 2006/2, was released on 20 April 2006l, with a few welcome changes from the draft ruling issued for public comment in May last year.  
 
Promoter penalty legislation 
On 6 April 2006 Tax laws Amendment (2006 Measures No 1) Bill, which contained measures to deter the promotion of tax exploitation schemes, received Royal Assent. 
 
Loss Recoupment 
A joint submission on the same business test (SBT) was lodged on 31 January 2006. 
 
 
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