Media releases

2011

Coalition's Numbers don't add up - Again

The Coalition has again shown its lack of economic credibility in its response to the recent survey figures which show 99 per cent of small business people who have taken advantage of the Gillard

99% Satisfaction Rating for Small Business Superannuation Clearing House

The Gillard Government has today released survey figures which show 99 per cent of small business people who have taken advantage of the Government's Superannuation Clearing House are satisfied wit

Help for Lower Income Workers to Build Their Wealth

Millions of workers earning up to $37,000 will get a tax refund that will directly boost their superannuation savings, under changes contained in a discussion paper released today by the Assistant

Streamlining Deductions for the Cost of Disability Insurance Through Superannuation

Superannuation funds will be able to streamline the way they claim tax deductions for the cost of total and permanent disability (TPD) insurance provided to members following the passage of legisla

Helping Businesses Get Back on Their Feet After a Natural Disaster

A business owner in Marysville, Victoria, was the first business owner in Australia assisted by the Australian Taxation Office to reconstruct their records following a natural disaster – the Black

Retail Investors and Financial Service Providers will find Changing to New PDS Easier

While ensuring consumers remain protected, financial services providers will find it easier to change to the new Product Disclosure Statement regime in June 2012, following changes announced tod

New Regulations Recoup the Grants Made to Victims of Fraud from the Collapse of Trio

The $55 million grant to the victims of the Trio collapse will be recouped from APRA regulated superannuation funds following new regulations announced by Assistant Treasurer Bill Shorten.

A Win For Self-Funded Retirees

The Assistant Treasurer, Bill Shorten today announced that around 120,000 self-funded retirees will benefit following the finalisation of regulations providing drawdown relief for account-based

Tony Abbott Can't Hide the Impact His Negativity Would Have on Superannuation and Small Business

Mr Abbott's statements today demonstrate how his constant negativity would hurt superannuation and hurt small business.

Increased Certainty for Trusts

The Assistant Treasurer, the Hon Bill Shorten MP, today introduced legislation that will ensure that capital gains and franked distributions can continue to be 'streamed' through trusts.

Consultation on Reporting of Taxable Payments made to Contractors in the Building and Construction Industry

The Assistant Treasurer, Bill Shorten, today released for public consultation a discussion paper on the 2011-

Liberal Party Must Condemn Mining Magnate's 'Racist' Slur

Clive Palmer's attack on Australia's Foreign Investment Review Board (FIRB) as 'outstandingly racist' is not only wrong it is a stupid, offensive slur against Australia's foreign investment laws an

Next Stage for Not-For-Profit Reforms Announced

The new chair of the advisory board assisting the Australian Charities and Not-for-Profits Commission (ACNC) will be Mr Robert Fitzgerald AM, following a speech by the Assistant Treasurer, Mr Bill

Government Clarifies Reportable Employer Superannuation Contributions Definition

Australians receiving government financial assistance will no longer need to worry that additional superannuation contributions, prescribed by law or the rules of their super fund, will be consi

Streamlining Disability Insurance Deductions Through Superannuation

Superannuation funds will be able to streamline the way they claim tax deductions for the cost of total and permanent disability (TPD) insurance provided to fund members, following legislation i

Declaration of a Disaster for the Purposes of Tax Deductibility – Multiple Tornadoes in Southern USA

The Assistant Treasurer, the Hon Bill Shorten MP, today declared the multiple tornadoes that hit Southern USA on 28 April 2011 and 22 May 2011 a disaster for tax purposes.

Draft Rules for SMSF Investment in Collectables and Personal Use Assets

The Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, today released

Introduction of Alternative Fuels Legislation

The Assistant Treasurer, the Hon Bill Shorten, today introduced legislation into Parliament to implement the longstanding alternative fuels taxation policy.

Reforms to Car Fringe Benefit Rules

The Gillard Government will change the fringe benefit treatment of cars to remove the unintended incentive for people to drive their vehicle further than they need to, in order to obtain a larger t

Making it Easier for Charities to Help Those Who Need it

The Gillard Government has announced a range of Budget measures to make it easier for the not-for-profit (NFP) sector to deliver vital assistance to Australia's most vulnerable people.