Media releases

1998

Superannuation Continues to Grow Strongly

The Assistant Treasurer Senator Rod Kemp announced today key data on the size and growth of superannuation assets for the December quarter 1997.

Review of the Operation of the Electronic Funds Transfer (EFT) Code of Conduct

The Assistant Treasurer, Senator the Hon. Rod Kemp and the Minister for Customs and Consumer Affairs, the Hon.

Charter of Budget Honesty Passes Senate

The Senates passing of the Charter of Budget Honesty Bill means that Australia now has a world leading framework of budgetary disclosure, the Assistant Treasurer Senator Rod Kemp said today.

Income Tax Rebates for 1997-98: Pensioner Rebate, Low Income Ages Persons Rebate, and Beneficiary Rebate

I am announcing today the arrangements to apply for the 1997-98 income year for the pensioner rebate, the low income aged persons rebate, and the beneficiary rebate.

The Assistant Treasurer, Senator Rod Kemp, today announced that gifts of $2 or more to the NCCA Christian World Service Overseas Programs and the NCCA Christian World Service Refugee Resettlement Fund will be tax deductible from the date of notice in the

Todays call by the Oppositions Shadow Minister for Foreign Affairs, Mr Laurie Brereton, for the immediate referral of the proposed Multilateral Agreement on Investment (MAI) to the Joint Standing C

Taxation of Distributions Disguised as Loans from Private Companies

The Government will act to ensure that proposed legislation currently before the Parliament will not apply to payments by private companies to shareholders in their capacity as employees.

Gifts to National Council of Churches in Australia (NCCA)

The Assistant Treasurer, Senator Rod Kemp, today announced that gifts of $2 or more to the NCCA Christian World Service Overseas Programs and the NCCA Christian World Service Refugee Resettlement F

Gifts to the St Patrick's Cathedral Parramatta Rebuilding Fund

The Government has decided to amend the income tax law to allow deductions for gifts of the value of $2 or more, made on or after the date of this press release, to the St Patrick's Cathedral Parra

Gifts to Overseas Aid Funds

The Assistant Treasurer, Senator Rod Kemp, announced today that gifts to the Australian Society for Intercountry Aid (Children) Victoria International (ASIAC (Vic)) Aid Fund and the Christian Broth

Deductibility of Gifts to the 1998 Wingello Bushfire Victims Trust

The Assistant Treasurer, Rod Kemp, announced today that gifts of $2 or more made to the 1998 Wingello Bushfire Victims Trust will be deductible for income tax purposes.

1997

Dividend Imputation: Holding Period Rule

The Assistant Treasurer, Senator Rod Kemp, released today a draft of proposed amendments to the Income Tax Assessment Act 1936.

Strong Rise in Superannuation Contributions

Superannuation contributions in the September quarter rose by more than 11 per cent compared with the September quarter last year.

Choice of Superannuation Fund

The Government is announcing enhancements to the Budget proposal to give Australian employees greater choice of the superannuation fund or Retirement Savings Account (RSA) into which compulsory sup

Changes to the Arrangements for Early Release of Superannuation Benefits

The Government will be modifying aspects of its Budget proposals regarding the early release of superannuation benefits.

Dividend Imputation: General Anti-Avoidance Rule and Anti-Streaming Measures

The Assistant Treasurer, Senator Rod Kemp, released today a draft of proposed amendments to the Income Tax Assessment Act 1936.

Senate Rejects Charter of Budget Honesty Bill

The Senate tonight failed to pass the Charter of Budget Honesty Bill for the second time by insisting on amendments previously rejected by the House of Representatives.

Amendment to the Comprehensive Taxation Agreement Between Australia and Vietnam

An Exchange of Notes amending the comprehensive double taxation agreement between Australia and Vietnam entered into force on 23 July 1997 upon completion of the notifications required indicating t

Labor Votes to Avoid Budget Scrutiny

Labor tonight voted to heavily amend the Charter of Budget Honesty Bill to make it cumbersome and unworkable.

Government Announces Reforms to Child Support Schemes

The Government today announced reforms to the child support scheme which will improve the scheme's flexibility, provide greater equity, and more regular financial support for children.

Super Year for Super - Assets Top $300 Billion in June 1997

Superannuation assets for the year ending June 1997 have surged past the $300 billion mark, reaching a total of $304 billion.