Australian Taxation Office

New or updated materials on ATO website, including:

  • Updated: PS LA Program, as at 5 November 2015
  • Updated: Public Rulings Program, as at 5 November 2015, includes the following update:
    • significant updates to 4 tax rulings on personal services income due to be released next year

Tax Reform

Treasurer Scott Morrison gave a speech at the Economic and Social Outlook Conference yesterday titled 'A National Platform for Economic Growth and Jobs' in which he spoke about the Government's tax reform plans to provide a strong platform for growth. He discussed the need for tax reform in the context of the changing economy, Australia's heavy reliance on income taxes, and bracket creep. Prime Minister Malcolm Turnbull spoke at the same conference, emphasising the need for fairness in any tax reform proposals.

Parliament

Both houses of Parliament are sitting next week. With just three sitting weeks remaining for the year, the legislative programs for the House of Representatives and the Senate are looking busy. The following Bills are scheduled for debate next week:

Infrastructure

This TaxTalk Alert discusses the recent release of an Australian tax framework for PPP structures commonly used for social infrastructure assets by the ATO.

Customs and Trade

Trade and Investment Minister Andrew Robb has issued a media release regarding the release of the text of the recently negotiated Trans-Pacific Partnership Agreement. The text of the agreement and related documents can be found on the Department of Foreign Affairs and Trade website.