Media releases

2010

Declaration to Boost Disaster Relief Effort for the Christchurch Earthquake

The Gillard Labor Government has today moved to assist the disaster recovery effort for victims of the Christchurch earthquake, making all donations by Australians tax deductible.

Reform of the Controlled Foreign Company Rules

The Assistant Treasurer, Senator Nick Sherry, has today released for public comment a discussion paper that represents a further step towards reforming Controlled Foreign Company (CFC) rules.

Government to Update Australia-India Tax Treaty

Assistant Treasurer, Senator Nick Sherry, today announced that Australia and India will shortly commence discussions to update their existing tax treaty.

Government Commences the Next Stage in the Development of an Investment Manager Regime

The Gillard Government has today commenced a further stage in the development of an investment manager regime (IMR) by requesting that the Board of Tax consider the design of an IMR as part of i

Board of Taxation Review of Collective Investment Vehicles Tax Regime

The Assistant Treasurer, Senator Nick Sherry, and Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen MP, today announced the Terms of Reference for a

Draft Regulations on Coverage of Tax Agent Services Regime

Assistant Treasurer, Senator Nick Sherry, has today released for public consultation the exposure draft of the Tax Agent Services Amendment Regulations 2010, that will, when enacted, exc

Expanded Access to Film Tax Offsets to Boost Australian Film Industry

The Assistant Treasurer, Senator Nick Sherry, and the Minister for Environment Protection, Heritage and the Arts, the Hon Peter Garrett MP, today released draft legislation to expand access to fi

Extension of Small Business Assistance Package

Assistant Treasurer, Senator Nick Sherry, and Minister for Small Business, the Hon Dr Craig Emerson MP, today welcomed the announcement by the Commissioner of Taxation, Mr Michael D'Ascenzo, tha

Tax Time 2010 - Fairer Treatment of Same-Sex Couples

The Assistant Treasurer, Senator Nick Sherry, is today reminding same sex couples of changes to the tax law that will make tax time fairer.

Your first tax return? Tips For Young Taxpayers At Tax Time

Assistant Treasurer, Senator Nick Sherry, and Minister for Youth, Kate Ellis MP, are advising young people to take advantage of the support and information services available to help them lodge the

Breakthrough Agreement Ensures Tax Time Benefits for 6.4 Million Australians

Today's announcement of a breakthrough agreement between the Gillard Government and the resources industry on tax reform will ensure that up to 6.4 million Australians get bigger tax returns as w

Self-Funded Retirees to Benefit from an Extension in Drawdown Relief for Account-Based Pensions

The Gillard Government will continue to support self-funded retirees by extending the drawdown relief currently provided for account-based superannuation pensions to the 2010-11 year.

Release of Consultation Paper on Implementation of Reforms to GST Financial Supply Provisions

Assistant Treasurer, Senator Nick Sherry, today released for public consultation a paper on reforms to the goods and services tax (GST) financial supply provisions.

New Reforms to the Taxation of Financial Arrangements

The Assistant Treasurer, Senator Nick Sherry, today announced further refinements to the income tax law relating to the Taxation of Financial Arrangements (TOFA) Stages 3 & 4 provisions to prov

New Tax Laws to Help People with Severe Disabilities, Their Families and Carers Pass Through Parliament

Legislation to make the taxation of special disability trusts fairer and simpler was passed by Parliament today.

Tax Laws Passed by Parliament to Slash Compliance Costs

The Assistant Treasurer, Senator Nick Sherry, today welcomed the passage of the Tax Laws Amendment (Foreign Source Income Deferral) Bill (No.1) 2010 through the Senate.

Parliament Approves Thin Capitalisation Tax Reforms

The Assistant Treasurer, Senator Nick Sherry, today welcomed the passage through Parliament of important reforms to Australia's thin capitalisation tax laws as they apply to authorised deposit‑taki

Important Amendments to Improve the Definition of Managed Investment Trust Pass Parliament

The Assistant Treasurer, Senator Nick Sherry, welcomed the passage of important amendments to the definition of a Managed Investment Trust (MIT).

Parliament Passes Bill Streaming GST

The Parliament has today passed legislation that streamlines the administration of the goods and services tax (GST) and reduces compliance costs for taxpayers.

Bill Introduced to Improve Tax Laws and Provide Tax Benefits for Individuals and Community Organisations

The Rudd Government has today introduced legislation into Parliament to implement a number of significant measures that will improve the operation of the tax laws, reduce compliance costs for tax