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Media releases
2011
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.
Investment Manager Regime - Interim Arrangements
Foreign managed funds and their investors will have more certainty for the 2010-11 income year, following an announcement to extend the Investment Manager Regime (IMR) arrangements.
Improving Tax Fairness and Compliance
The Government has developed a package of three measures to improve tax compliance across various aspects of the economy.
Stronger Super - Self Managed Super Fund Reforms
The Gillard Government will provide funding to the Australian Taxation Office (ATO) and Australian Securities and Investments Commission (ASIC) to implement the Stronger Super self man
Additional Budget Funding for the Australian Bureau of Statistics
The 2011-12 Budget provides the Australian Bureau of Statistics (ABS) with an additional $35.9 million over four years to improve and expand its statistical capacity.
Changes to the Low Income Tax Offset for Non-Work Income of Minors
The Gillard Government will enhance the fairness of the taxation system and discourage the tax avoidance that currently occurs when high income earners allocate their income to children under 18 ye
Removal of Income Tax Impediments Affecting Special Disability Trusts
The Assistant Treasurer, the Hon Bill Shorten MP, tonight announced the Government will introduce legislation to remove further income tax barriers that impede families from making financial contri
Superannuation - Reform of Excess Contribution Regime Gives Australians New Powers to Request Refunds
From 1 July 2011, individuals who breach the concessional contributions cap by up to $10,000 can request that these excess contributions be refunded to them.
Inspector-General of Taxation's Review into the Australian Taxation Office's Change Program
The Assistant Treasurer and Minister for Financial Services and Superannuation, the Hon Bill Shorten, today released the Inspector‑General of Taxation's report entitled, Revie