Media releases

2009

Taxation of Financial Arrangements - Synthetic and Complex Arrangements

The Assistant Treasurer, Chris Bowen MP, today alerted taxpayers to the Government's commitment to ensuring the integrity of the income tax law relating to financial arrangements following the rece

Productivity Commission Inquiry into Australia's Anti Dumping and Countervailing System

The Assistant Treasurer, Chris Bowen, and Home Affairs Minister, Bob Debus, today announced that the Productivity Commission would undertake an inquiry into Australia's anti-dumping and countervail

Draft Code Brings National Unit Pricing Scheme One Step Closer

The Consumer Affairs Minister, Chris Bowen MP, has today released a draft industry code to implement a nationally‑consistent, mandatory unit pricing scheme.

Capital Gains Tax Relief for Compulsory Acquisitions of Part of a Main Residence

Today the Assistant Treasurer, Chris Bowen MP, announced that the Government will extend the capital gains tax (CGT) main residence exemption for compulsory acquisitions (and certain other involunt

Productivity Commission and Allan Fels to Examine Executive Remuneration

The Rudd Government has today tasked the Productivity Commission (PC) with examining Australia's framework in relation to the remuneration of directors and executives.

Productivity Commission to Review the Contribution of the Not-For-Profit Sector

The Deputy Prime Minister, the Hon Julia Gillard MP, the Assistant Treasurer, the Hon Chris Bowen MP, and the Parliamentary Secretary for Social Inclusion and the Voluntary Sector, Senator the

Australian Government Welcomes Movements Towards Greater Transparency and Exchange of Information

Australia welcomes reports that Hong Kong, Liechtenstein and Singapore have agreed to adopt OECD standards of transparency and effective exchange of information for tax purposes.

Government Moves to Consolidate the Taxation Secrecy and Disclosure Provisions

The Assistant Treasurer, Chris Bowen, today released for public comment an exposure draft Tax Laws Amendment (Confidentiality of Taxpayer Information) Bill 2009 and explanatory materials that propo

Review of Statutory Warranties and Conditions

Consumer Affairs Minister Chris Bowen MP today announced a review of statutory implied conditions and warranties by the Commonwealth Consumer Affairs Advisory Council (CCAAC).

Government Enhances Prudential Regulator's Supervisory and Enforcement Power

The Assistant Treasurer Chris Bowen and the Minister for Superannuation and Corporate Law, Senator Nick Sherry, today announced that the Government will shortly introduce legislation to regulate th

Safety Standard on Portable Cots takes effect from Sunday

Competition Policy and Consumer Affairs Minister, Chris Bowen MP, today reminded parents and infant and nursery product suppliers that the new mandatory safety standard for children's portabl

Capital Gains Tax Relief for Transformation of Water Rights

The Assistant Treasurer, Chris Bowen MP, today announced that the Government will provide capital gains tax (CGT) roll‑over relief for irrigators who transform their entitlement to water under an i

Donations to 2009 Victorian Bushfire Appeals

Income tax The Assistant Treasurer, Chris Bowen MP, today announced that in support of those affected by the 2009 Victorian bushfires, the Government will introduce legislation to ensure

Australian Consumers to Receive Protection from Unfair Contract Terms

The Consumer Affairs Minister, Chris Bowen MP, today announced a fast tracking of new laws to protect Australian consumers.

Forward Work Program for Tax Measures

The Assistant Treasurer, Chris Bowen, today released the Government's forward work program setting out the consultation it plans for announced tax measures and indicating the legislation it plans t

Exposure Draft Legislation to Facilitate Transition into the New Tax Agent Services Regime

The Assistant Treasurer, Chris Bowen MP, today released for public comment the transitional and consequential provisions and associated explanatory material to complement the Tax Agent Services Bil

Australian Government's Risk Under the Terrorism Insurance Scheme Reduced Through Purchase of Retrocession

The Assistant Treasurer, Chris Bowen MP, today announced that the Australian Reinsurance Pool Corporation (ARPC) has successfully arranged $2.3 billion of retrocession cover for the Government's te

GST and Incapacitated Entities

The Assistant Treasurer Chris Bowen MP announced today that the Government will amend the GST law, with effect from 1 July 2000, to ensure that representatives of incapacitated entities are lia

New Safety Standard Limits Lead and Heavy Metals in Toys

The Consumer Affairs Minister Chris Bowen MP has today declared a new safety standard that limits lead and heavy metals in children's toys.

Australia and the Isle of Man conclude tax cooperation agreements

The Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, Chris Bowen MP, today announced the signing of a Tax Information Exchange Agreement (TIEA) and an agreement for the