Media releases

2010

Farmers Benefit with Changes to Trust Laws

In what will be very welcome news for approximately 23,000 Australian farmers who have trusts, the Government plans to introduce amendments before 30 June 2011 so that beneficiaries can continue

Simplifying GST Rules on Property

The GST margin scheme that applies to property will be simplified as part of the Gillard Government's ongoing commitment to making Australia's tax system easier to use and understand, the Assist

Montserrat and the Republic of Mauritius Help Australia Fight Tax Evasion

Two more nations, Montserrat and the Republic of Mauritius, have signed an Agreement with Australia that will assist the Government in preventing offshore tax avoidance and evasion.

Release of Discussion Paper on Tax Relief for Consolidated Groups That Undertake Demergers

Consolidated groups and Multiple Entry Consolidated groups (MEC groups) will find demerging and restructuring easier under proposed changes to the income tax laws.

Improved Protections for Taxpayer Privacy

The confidentiality of taxpayers' personal information held by the Australian Taxation Office has been improved, following the passage of the Tax Laws Amendment (Confidentiality of Taxpayer Informa

Regulating Financial Planners Who Provide Tax Agent Services

How financial planners who offer tax agent services are regulated is the focus of an options paper released today by the Assistant Treasurer and Minister for Financial Services and Superannuatio

Easing the Transition into Taxation of Financial Arrangements (TOFA) Stages 3 and 4

Organisations affected by Stages 3 and 4 of the Taxation of Financial Arrangements (TOFA) reforms, will be given until 30 June 2011 to comply with tax hedging documentation requirements relating

Inspector-General's Report on Administration of Private Binding Rulings and Consultation on Oral Rulings System

Minister Bill Shorten, the Assistant Treasurer and Minister for Financial Services and Superannuation, today released the Inspector‑General of Taxation's (Inspector-General)

Government and Inspector-General Of Taxation See Eye-to-Eye on Providing Strongest Ever Protection for Workers' Super

The Assistant Treasurer and Minister for Financial Services and Superannuation, the Hon.

Government Announces Financial Advice Advisory Panel Membership

The Government today announced the members of the new Advisory Panel on financial advice and Professional Standards.

Volunteer Fire Brigades and Mary Mackillop Fund Among Many to Benefit from Improvements to Tax Legislation

Volunteer fire brigades and other new deductible gift recipients, including the Mary MacKillop Canonisation Gift Fund, are among several organisations that will benefit from a number of improvement

Making Sure Your Donation Counts - Public Ancillary Fund Improvements

Australians who donate to general fundraising charities can be more confident their donations will reach people most in need, following proposed changes to the way those charities are regulated.

Release of Discussion Paper on 'Improving the Operation of the Anti-Avoidance Provisions in the Income Tax Laws'

The Assistant Treasurer, Bill Shorten, today released a discussion paper for public comment on proposals to improve the operation of the anti-avoidance provisions in the income tax laws.

Providing Certainty for the Taxation of Fly-In/Fly-Out Employees Working Overseas

Fly-in/fly-out employees working overseas – and their employers – will have more certainty about their tax liabilities after the Government introduces legislation to extend an exemption from fri

High Court Decision in Commissoner of Taxation V Anstis

The High Court today released its decision in Commissioner of Taxation v Anstis concerning deductions for self-education expenses against Youth Allowance income.

Address to ASU 2010 National Conference

Thank you for that kind introduction. And thank you Paul Slape, ASU National Secretary, for inviting me to address this national conference.

New Regulations Clarify the Coverage of the Tax Agent Services Regime

The Assistant Treasurer, the Hon Bill Shorten MP, today announced new regulations that clarify the coverage of the national tax agent services regime.

Regional Talks Start on Asia Region Funds Passport

Fund managers and investors will have far greater opportunities across Asia if Australia's proposed Asia Region Funds Management Passport (ARFMP), to be discussed at the APEC Policy Dialog in Kua

Release of National Survey into Community Attitudes and Values Towards Superannuation

The Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten MP, today announced the public release of research into community values and attitudes towards superannu

Consultations on Native Title Agreements and Payments

The Australian Government today announced the continuation of the national consultations on the tax treatment of native title and possible reforms to native title agreement processes.