The government has called an election and is now in caretaker
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Media releases
2011
Communiqué: Future regulation of financial planners providing tax advice
On 8 February 2011 the Assistant Treasurer and Minister for Financial Services and Superannuation, the Hon Bill Shorten MP, met with representatives from the financial planning, tax and acc
Australia and Switzerland to update Tax Treaty
The thirty year old tax treaty between Australia and Switzerland will be updated as part of the Gillard Government's commitment to reducing barriers to cross-border investment and attracting over
Making it Easier to Find Lost Super
Australian workers and retirees will find it easier to find 'lost' superannuation accounts, after the Government today released draft legislation that will allow superannuation funds to use tax fil
Simplifying Tax Law for Rental Affordability Scheme
Proposed changes to the National Rental Affordability Scheme (NRAS) tax law provisions will benefit participants in the scheme who provide low-cost rental accommodation.
Release of draft legislation on GST-Free Export of Boats
Australian boat manufacturers and coastal tourism operators will benefit from proposed changes to the GST allowing boat buyers to sail new, Australian-made recreational boats in our waters for u
Self Managed Super Funds Can Still Invest In Collectibles and Personal Use Assets
Self Managed Superannuation Funds (SMSF) will continue to be allowed to invest in collectibles and personal use assets like artwork or stamps, provided they are held in accordance with tightened
Paul Costello to Chair Consultation Panel on Stronger Super Reforms
Paul Costello will chair the 'Stronger Super Peak Consultative Group', which has been tasked with advising the government on how to best implement the Stronger Super package, announced by the Gover
Clarifying GST Rules Around Residential Property
The Commonwealth Government has moved quickly to clarify how residential property is treated under the GST, following a Full Federal Court decision last year that found GST was not payable on the f
Government Weclomes RACQ's Compassionate Response to Flood Crisis
The Assistant Treasurer, Bill Shorten, welcomed today's announcement by the RACQ that it will be providing a $20 million package towards Queensland flood victims, while calling on insurers to fol
Release of Exposure Draft Legislation for the Taxation of Alternative Fuels
The Assistant Treasurer, the Hon Bill Shorten, today released draft legislation for public consultation on the Government's reform of the taxation of alternative fuels.
Government Releases Options Paper on Investor Protection Threshold
As part of the Gillard Government's Future of Financial Advice reforms, the Assistant Treasurer and Minister for Financial Services and Superannuation, the Hon Bill Shorten MP, today released an
Tax exemption for business assistance payments paid to flood victims
The Government has today announced that clean-up and recovery grants of up to $25,000, paid to primary producers and small businesses directly affected by the recent flooding that has occurred sinc
Coalition plays catch-up on tax help for flood victims
The Gillard Government has provided significant tax relief for small businesses affected by the flood crisis and any attempt by the Opposition to suggest otherwise is mischievous and wrong, Assi
Next Step to a National Not For Profit Regulator
Assistant Treasurer Bill Shorten and Minister for Social Inclusion Tanya Plibersek today released a consultation paper on the design of a new national regulator for the not-for-profit sector.
Consultation on the Design of the Tax System Advisory Board
The Assistant Treasurer, the Hon Bill Shorten MP, today announced the consultation details for the Government's election commitment to establish a Tax System Advisory Board (the Board).
Further Reforms to GST Grouping Rules
As part of the Gillard Government's ongoing efforts to simplify and streamline Australia's tax system, the Assistant Treasurer, Bill Shorten, today released draft legislation to make further reform
Consultation on Tax Breaks for Green Buildings scheme
Tax breaks for redevelopments that will substantially improve the energy efficiency of existing buildings are the subject of a new public consultation paper released today by Assistant Treasurer
Investment Manager Regime
Australian fund managers will welcome the Federal Government's announcement today of changes to the income tax treatment of investment income of foreign funds, which will make it more likely for
Simplifying the Tax System: Self Assessment of Indirect Taxes
As part of the Gillard Government's continuing focus on simplifying the tax system, Assistant Treasurer Bill Shorten today announced amendments to Australia's tax laws to allow taxpayers to self
Expanding the Range of Assets Covered by the Income Tax Look Through Treatment for Instalments Warrants
The Assistant Treasurer, the Hon Bill Shorten MP, has today announced an extension to the proposed income tax look-through treatment to cover instalment warrants and receipts over direct