With Federal Parliament in recess until the commencement of the Winter Sittings starting on 12 May 2015 (the day of the 2015-16 Federal Budget), it has been a quiet month on the legislative front with only the following legislative instruments or regulations made:

Treasury Laws Amendment (2015 Measures No. 1) Regulation 2015, registered on 30 March 2015, amends various regulations to:

  • provide the rate at which deductions can be claimed for car expenses under the “cents per kilometre” method for the 2014-15 income year (note that there was no change to the rates as compared to the previous income year)
  • provide superannuation funds with flexibility in reporting superannuation co-contributions and low income superannuation contributions received, and
  • prepare the Income Tax Regulations 1936 for sunsetting.

A New Tax System (GST, Luxury Car Tax and Wine Tax) Direction 2015, registered on 17 April 2015, maintains the existing arrangements that support the notional application of certain taxes to the Commonwealth and ensures continuity of goods and services tax (GST) arrangements for Commonwealth entities. It replaces the Finance Minister’s (A New Tax System) Directions 2005. The only changes are administrative in nature and update references to Commonwealth entities to ensure alignment with the Public Governance, Performance and Accountability Act 2013.