Australian Taxation Office
New or updated materials on ATO website, including:
- Proposed public ruling - deductibility of legal expenses under s8-1 of the ITAA 1997 - the ATO is seeking feedback on a new public ruling that will consolidate a number of "ATOview" products (including tax rulings, determinations and ATO Interpretative Decisions) on the deductibility of legal expenses. Feedback can be provided until 23 November 2015.
- Tax Agent Portal users - check the dashboard
Senate Estimates hearing
Last week's Senate Estimates hearings included questioning with Treasury and the ATO over a range of issues covering the multi-national avoidance law, OECD BEPS action plan, Uber and the sharing economy and the ATO's winding up of companies over tax debts. In relation to tax reform, Senator Cormann indicated that it is the Government's intention to be in a position to release the green paper early next year and to then release the white paper before the next election.