ATO documents

Decision impact statement

QUD 328 of 2017: Commissioner of Taxation v. Hacon Pty Ltd

Notice of Withdrawal – Taxation Determination

TD 2012/14W: Income tax: capital gains: what is the improvement threshold for the 2012–13 income year under section 108‑85 of the Income Tax Assessment Act 1997?

Withdrawn Interpretative Decisions

ATO ID 2007/225(Withdrawn): Superannuation contributions: acceptance of fund capped contributions by a self managed superannuation fund

ATO ID 2008/90(Withdrawn): Superannuation contributions: return of fund capped contributions by self-managed superannuation fund

ATO ID 2009/29(Withdrawn): Superannuation Contributions: return of contribution by self managed superannuation fund - after 30 day time limit

ATO ID 2012/79(Withdrawn): Superannuation contributions: the operation of subregulation 7.04(3) of the Superannuation Industry (Supervision) Regulations 1994 in the context of in-specie contributions of listed shares

Progress of legislation

As at 14.09.18

Bill

Treasury Laws Amendment (Supporting Australian Farmers) Bill 2018

Description

The Bill makes amendments to allow primary producers to immediately deduct (rather than depreciate over three years) the cost of fodder storage assets, such as silos and hay sheds, used to store grain and other animal feed.

Status

Introduced into House of Reps 13.09.18.

Bill

Treasury Laws Amendment (Accelerated Depreciation for Small Business Entities) Bill 2018

Description

Small business entities can access expanded accelerated depreciation rules until June 30 2019.

Status

Passed both Houses. Awaiting Royal Assent 12.09.18.

Bill

Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2018

Description

Increased penalties and a one off amnesty for employers not meeting their superannuation obligations.

Status

Introduced into Senate 25.06.18.

Bill

Treasury Laws Amendment (Tax Integrity and Other Measures) Bill 2018

Description

The Bill makes amendments to the Multinational Anti-Avoidance Law, the Small Business CGT Concessions, and Fintech and Venture Capital.

Status

Introduced into Senate 18.06.18

Bill

Treasury Laws Amendment (2018 Measures No. 4) Bill 2018

Description

Implements the Government’s Superannuation Guarantee (SG) integrity package, extends Single Touch Payroll, and changes Super Fund reporting requirements.

Status

Introduced into Senate 25.06.18.

Bill

Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 2) Bill 2018

Description

Implements new rules for foreign residents owning Australian housing, technical amendments to streamline the foreign investment framework and introduces tax incentives to boost investment in affordable housing.

Status

Introduced into Senate 19.03.2018.

Bill

Treasury Laws Amendment (2018 Measures No. 2) Bill 2018

Description

Establishes the foundation for the Government's new Fintech framework. Makes a number of technical amendments to the Early Stage Venture Capital Limited Partnership, Venture Capital Limited Partnership and Tax Incentives for Early Stage Investor regimes.

Status

Introduced into Senate 26.06.18.

Bill

Treasury Laws Amendment (Black Economy Taskforce Measures No. 1) Bill 2018

Description

Introduces various measures aimed at curbing participation in the "Black economy".

Status

Introduced into Senate 18.06.18

Bill

Medicare Levy Amendment (National Disability Insurance Scheme Funding) Bill 2017

Description

Fund the NDIS by amending the Medicare Levy Act 1986 to increase the Medicare levy rate from 2 to 2.5% of taxable income for the 2019-20 income year and later income years. Given the Government’s announcement that the increase to the Medicare Levy will be scrapped, this Bill may not proceed

Status

Introduced into Senate 13.11.17.

Bill

Treasury Laws Amendment (Enterprise Tax Plan No. 2) Bill 2017

Description

Extends the reduction of the corporate tax rate to 25 per cent by 2026/27 to businesses with turnover of more than $50 million.

Status

This Bill was defeated in the Senate on 22.08.18 and is not proceeding.

Bill

Treasury Laws Amendment (2017 Enterprise Incentives No. 1) Bill 2017

Description

Similar business test; Effective life assessment on intellectual property.

Status

Introduced into Senate 22.6.17.

Bill

Superannuation (Objective) Bill 2016

Description

Superannuation reform package.

Status

Introduced into Senate 23.11.16.