Media releases

2014

The way forward on financial advice laws

When the previous government announced the detail of its Future of Financial Advice (FOFA) law changes back in April 2011 the Coalition’s position was very clear.

Labor’s useless and unhelpful advice on tax

The Government was left with a legacy from Labor of over 92 tax measures that had been announced but never legislated.

Providing certainty for contractual loss absorption provisions in regulatory capital

The Government is today releasing a discussion paper on the technical amendments required to enable the effective operation of prudential requirements on loss absorption provisions.

Providing certainty on disclosure requirements for insurance policies

The Government is today releasing draft notices that will provide greater certainty and consistency for consumers and insurers on disclosure requirements for insurance policies.

Inspector-General of Taxation report into the Australian Taxation Office’s management of transfer pricing

Today we release the Inspector-General of Taxation’s review into the Australian Taxation Office’s management of transfer pricing.

More flexibility for superannuation funds in receiving contributions

The Government is today announcing increased flexibility for the superannuation industry as it continues to make the necessary changes to implement the SuperStream contributions data standards.

Discussion paper on unclaimed moneys provision

The Government is today releasing a discussion paper on ways we can improve the unclaimed moneys provisions.

More progress in restoring integrity in the tax system

The Abbott Government is committed to restoring integrity in the tax system.

Superannuation excess contributions tax

The Abbott Government today has made the taxation of excess superannuation contributions fairer.

The 2014-15 Budget

This Budget is part of the Abbott Government's Economic Action Strategy that will build a strong, prosperous economy and a safe, secure Australia.

Addressing the high cost of insurance in North Queensland

The Government is today releasing a discussion paper outlining policy options to assist consumers and increase competition in the North Queensland insurance market.

Australian Taxation Office joins myGov

The Government announces today that the Australian Taxation Office’s online services are now accessible through myGov.

Providing greater stability and transparency in the superannuation system

The Government has decided to defer the start date for the choice product dashboard and the introduction of a portfolio holdings disclosure regime to 1 July 2015.

New appointments to the Takeovers Panel

The Government is pleased to announce the appointment of five new members of the Takeovers Panel and the appointment of five existing Panel members as new Alternative Presidents.

Asia Region Funds Passport to drive financial services export growth

The Coalition Government is throwing its full weight behind the implementation of an Asia Region Funds Passport that will help drive growth in funds management and other financial services export

Consultation open on amendments to the Corporations Law

A draft Bill containing proposed improvements to the corporations law is now available for public comment. 

Appointment of members to the Financial Reporting Council

The Government is pleased to announce the appointment of Ms Jan Harris and the reappointment of Mr Kevin Lewis to the Financial Reporting Council as part-time members.

Working to remove barriers to help small businesses grow

The Government has asked the Board of Taxation to conduct a review to identify features in the tax system that are hindering or preventing small businesses from reaching their commercial goals.

Confirming our committment to FOFA reforms

The Government remains committed to implementing the improvements to Future of Financial Advice laws that we took to the last election as soon as possible.