ATO documents

Class Rulings
CR 2016/73: Income tax: scrip for scrip roll-over - Caledonia group reorganisation: Caledonia Australia Trust
CR 2016/74: Income tax: scrip for scrip roll-over - Caledonia group reorganisation: Caledonia Australia No. 2 Trust
CR 2016/75: Income tax: scrip for scrip roll-over - Caledonia group reorganisation: Caledonia Small Caps Trust
CR 2016/76: Income tax: scrip for scrip roll-over - Caledonia group reorganisation: Caledonia Small Caps No. 2 Trust
CR 2016/77: Income tax: scrip for scrip roll-over - Caledonia group reorganisation: Caledonia (Private) Investment Trust
CR 2016/78: Income tax: scrip for scrip roll-over - Caledonia group reorganisation: Caledonia (Private) Investment No. 2 Trust
CR 2016/79: Income tax: Patties Foods Limited Scheme of Arrangement and Payment of Special Dividend
CR 2016/80: Income tax: 'Queensland University of Technology Early Retirement Scheme 2016'

ATO guidelines
PCG 2016/10: Fleet Cars: simplified approach for calculating car fringe benefits. Refer to our Riposte here for further details on the practical compliance guideline.

New Australia-Germany DTA Bill receives Royal Assent

On 20 October 2016, the International Tax Agreements Amendment Bill 2016 received Royal Assent, following its passage through the Senate on 13 October 2016.

Progress of legislation

Parliament will resume sitting on 7 November 2016.

As at 21.10.16

Bill

Intro House

Passed House

Intro Senate

Passed Senate

Date of Royal assent / Act Number

Description

Tax and Superannuation Laws Amendment (2016 Measures No 2) Bill 2016

14.9.16

Remedial power for the Commissioner; Income tax averaging rules for farmers; luxury car tax; minor amendments correcting technical or drafting defects.

International Tax Agreements Amendment Bill 2016

1.9.16

12.10.16

12.10.16

13.10.16

20.10.16/64

Gives force of law to Australia - Germany DTA.

Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016

1.9.16

Immediately reduces the tax rate for businesses with turnover of up to $10 million. Reduces the company tax rate for all businesses to 25 per cent by 2026/27. Increases the unincorporated tax discount for small business. Increases turnover thresholds.

Treasury Laws Amendment (Income Tax Relief) Bill 2016

1.9.16

10.10.16

10.10.16

12.10.16

20.10.16/65

Raises personal income tax threshold.

Budget Savings (Omnibus) Bill 2016

31.8.16

14.9.16

14.9.16

15.9.16

16.9.2016/55

Amongst other things, reduces the tax offsets under the research and development tax incentive (previously included in lapsed Tax and Superannuation Laws Amendment (2015 Measures No. 3) Bill 2015).