16 Technicals

Technical

Tax Agent Services

Published 01 Apr 2009
Update 1 April 2009 - Submission on the Exposure Draft Tax Agent Services (Transitional Provisions and Consequential Amendments) Bill 2009 More >

TOFA Stages 3&4

Published 26 Mar 2009
On 26 March 2009, Tax Laws Amendment (Taxation of Financial Arrangements) Bill 2008 received Royal Assent as the Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009, Act No 15 of 2009. More >

The Institute’s 2009/10 Pre-budget submission - tax issues

Published 21 Jan 2009
The Institute lodged its 2009-10 Pre-budget submission on 15 January 2009 and issued a media release, entitled Tax changes to fuel the economy, the following Monday More >

Archived - Consolidation and CGT rollovers including scrip for scrip rollovers

Published 18 Dec 2008
Update: 3 December 2008 - Legislation introduced More >

Archive - The Institute's 2008-09 Pre-budget submission

Published 12 Feb 2008
2008-09 Pre-budget submission lodged on 17 January 2008 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 >

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 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 >

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 >

Archived - Trading Stock

Published 11 Oct 2006
The ATO released Taxation Ruling TR 2006/8 in September 2006, which discusses the valuation of trading stock at cost by retailers and wholesalers. More >

Archived - Service entity ruling and booklet: finalised at last

Published 01 Oct 2006
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. More >

Archived - Digital Certificates/Tax Agent Registration

Published 20 Sep 2006
There was some discussion on the digital certificate project at the ATO Tax Practitioner Forum. More >

Archived - Promoter penalty legislation

Published 06 Apr 2006
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. More >