Australian Taxation Office
New or updated materials on ATO website, including:
Progress of Bills
The following Bills progressed in Parliament yesterday:
- Tax and Superannuation Laws Amendment (2015 Measures No. 4) Bill 2015 was passed by the House of Representatives and introduced into the Senate yesterday. This Bill proposes to amend scrip-for-scrip roll-over relief, remove the income tax exemption for certain employees of an Australian government agency who work overseas, and increase the threshold relating to a lost superannuation member account.
- Tax and Superannuation Laws Amendment (Better Targeting the Income Tax Transparency Laws) Bill 2015 was passed by the House of Representatives yesterday. This Bill, which proposes to remove the obligation for the Commissioner to publish tax information for Australian owned private companies, will now proceed to the Senate.
- Tax and Superannuation Laws Amendment (2015 Measures No. 3) Bill 2015, which proposes to abolish the seafarer tax offset and reduce the R&D tax incentive offset, was debated yesterday in the Senate and debate was adjourned.
Tax Expenditures Statement
The transcript of a public hearing held in Canberra last week in relation to the Parliamentary inquiry looking at how Treasury can improve transparency for the Government's Tax Expenditure Statement is now available.