Australian Taxation Office
New or updated materials on ATO website, including:
- Law changes to small business concessions: reminder that amendment requests for 2013-14 tax returns as a result of the changes to the small business depreciation concessions (applicable from 1 January 2014) should be lodged by 30 June 2015 to avoid penalties
- Updated! ATO administrative treatment regarding outstanding consolidation measures
- Strengthening Australia's Foreign Investment Framework: information regarding the ATO's role in relation to the recently announced changes to the Foreign Investment Framework
Parliament resumes next week
Parliament resumes for the 2015 Winter Sittings next Tuesday with the handing down of the 2015-16 Federal Budget. The draft programs for the House of Representatives and Senate is now available. The following Bills are scheduled for debate next week:
- Tax and Superannuation Laws Amendment (Norfolk Island Reforms) Bill 2015 and related Bills, part of a package to reform the legal and governance arrangements for Norfolk Island including new taxation, social security and healthcare arrangements, are scheduled for debate in the House of Representatives on Tuesday and in the Senate on Wednesday (subject passage by the House)
- Customs Amendment (Anti-Dumping Measures) Bill (No 1) 2015 and Customs Tariff (Anti-Dumping) Amendment Bill 2015 which both seek to strengthen and modernise Australia's anti-dumping laws, are scheduled for debate in the Senate on Tuesday.
Early access to superannuation for terminally ill
The Assistant Treasurer has announced that the Government will amend the provisions for accessing superannuation for individuals suffering a terminal illness with effect from 1 July 2015.