ATO documents

Draft Taxation Rulings

TR 2017/D2: Income tax: Foreign Incorporated Companies: Central Management and Control test of residency. Refer to our Riposte here for further details.

Class Rulings

CR 2017/15: Income tax: assessability of payments from the Victorian Taxi Reform Hardship Fund

CR 2017/16: Income tax: Multiplex Development and Opportunity Fund - Return of capital

CR 2017/17: Income tax: 'Department for Education and Child Development Early Retirement Scheme 2017'

CR 2017/18: Fringe benefits tax: employer clients of McMillan Shakespeare Limited and its subsidiaries who participate in the fly-in fly-out travel program

Notices of Withdrawal - Taxation Rulings

TR 2004/15: Income tax: residence of companies not incorporated in Australia - carrying on business in Australia and central management and control.

Decision Impact Statements

DIS: Bywater Investments Ltd & Ors v. Commissioner

Draft GST Legislative Determinations 

The ATO has released a number of draft GST determinations, which will replace and repeal existing determinations. A full list of the draft determinations can be found here.

Progress of legislation

The Treasury Laws Amendment (Combating Multinational Tax Avoidance) Bill 2017 and Diverted Profits Tax Bill 2017 are scheduled to be debated in the House of Reps in the week commencing 20 March 2017.

As at 17.03.17

Bill

Treasury Laws Amendment (2017 Measures No. 1) Bill 2017

Description

Innovation Measures – ESVCLP rules; ASIC

Status

Passed House of Reps 2.3.17

Bill

Treasury Laws Amendment (GST Low Value Goods) Bill 2017

Description

GST imposed on low cost imported goods

Status

Introduced into House of Reps 16.2.17

Bill

Treasury Laws Amendment (Combating Multinational Tax Avoidance) Bill 2017

Description

Diverted profits tax; Multinational tax avoidance; Transfer pricing

Status

Introduced into House of Reps 9.2.17

Bill

Diverted Profits Tax Bill 2017

Description

Diverted profits tax

Status

Introduced into House of Reps 9.2.17

Bill

Superannuation (Objective) Bill 2016

Description

Superannuation reform package

Status

Introduced Senate 23.11.16. Awaiting passage by Senate.

Bill

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

Description

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

Status

Assent on 28.2.2017 as Tax and Superannuation Laws Amendment (2016 Measures No 2) Act 2017, Act No 15 of 2017

Bill

Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016

Description

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.

Status

Introduced into House of Reps 1.9.16