Australian Taxation Office
New or updated materials on ATO website, including:
- Class rulings, product ruling and addendum released yesterday
- Daily and monthly foreign exchange rates for March 2015
- Overview of the exploration development incentive
- Complex issue resolution service for tax professionals, to resolve complex administrative issues and technical interpretation questions which have not been resolved through online channels or by phoning the ATO
- ATO portals unavailable over Easter break
- Updated! Matters under consultation with the ATO, including updates on various consultation issues, including new matters regarding deductions under the Petroleum Resource Rent Tax, red-tape reductions in the area of FBT and remuneration, and ATO consultation sessions to be held in April on valuation and documentation issues arising under the new ESS rules
April 2015 edition of TaxTalk Monthly is now available. This month's featured articles include:
- Parliamentary Committee recommends fairer ATO processes and an independent appeals area
- Sharing your information: Tightening the screws on cross border arrangements
- Banking and financial services tax update: OBU reform
- Q&A with the ATO: Implications of recent case on R&D feedstock adjustments
TaxTalk also includes a monthly roundup of developments in indirect tax (including GST and customs update), international tax, state taxes, legislative updates and other news updates.
This LegalTalk Alert outlines the key issues raised in the Harper Review into Competition Policy which was released earlier this week.
Superannuation choice of fund requirements
Treasury released the exposure draft legislation on reforms to reduce the compliance burden associated with superannuation choice of funds requirements. Under the amendments, applicable from 1 July 2015, employers will no longer be obliged to give a standard choice of fund form to temporary residents or provide this form to employees when their superannuation funds merge. Submissions may be made until 15 April 2015.
The Anti-Dumping Commission has issued Anti-dumping Notice No. 2015/44 which provides an overview of the new prescribed circumvention activity to address the "slight modification of goods exported to Australia" which may take place where goods exported to Australia, which would have been subject to a dumping/countervailing duty notice, are slightly modified in order to avoid anti-dumping duties.