Australian Taxation Office

New or updated materials on ATO website, including:

  • Updated Practice Statement PS LA 2005/24, which sets out guidance on how the ATO might apply Part IVA and other general anti-avoidance rules (GAAR). The ATO is seeking comment on the draft update by 25 September 2015.

Progress of Bills

Tax Laws Amendment (Small Business Measures No. 3) Bill 2015, which proposes to give effect to a number of 2015-16 Federal Budget measures including the small business tax offset for individuals, allowing small businesses to immediately deduct certain costs incurred when starting up a business and to extend the FBT exemption relating to work-related portable electronic devices, was passed by the Senate yesterday. This Bill now awaits Royal Assent.

Parliament sits next week

The draft programmes for the House of Representatives and the Senate are now available, and show the following Bills listed for debate next week:

Unproclaimed legislation

The latest Report on Unproclaimed Legislation indicates that Schedule 1 of the Customs Amendment (Anti-Dumping Measures) Bill (No 1) 2015 and Customs Tariff (Anti-Dumping) Amendment Bill 2015, which both seek to strengthen and modernise Australia's anti-dumping laws, are both anticipated to commence by proclamation by September 2015.