PR 2017/11: Income tax: CommInsure Protection - Split Total and Permanent Disability (TPD) Cover

PR 2017/11: Income tax: CommInsure Protection - Split TPD Cover

DIS: Tech Mahindra Ltd v. Commissioner of Taxation

Withdrawn Interpretative Decisions

ATO ID 2002/48: Medicare levy surcharge - eligibility for family surcharge threshold where taxpayer pays child support for children who are not residing with the taxpayer

ATO ID 2002/49: Medicare Levy Surcharge - general health insurance cover taken whilst overseas

ATO ID 2002/647: Assessability of a payment of unused 'special leave' received upon retirement

ATO ID 2003/721: Income tax exemption: community service purposes - Industry Ombudsman

ATO ID 2005/367: Capital Gains Tax: not in common ownership - plan of consolidation

ATO ID 2010/122: Medicare levy surcharge: private patient hospital cover requiring both an excess and co-payment under the policy

Progress of legislation

Parliament resumes sitting on 4 September 2017.

As at 1.9.17

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.

Status

Introduced into House of Reps 17.8.17.

Bill

Treasury Laws Amendment (2017 Measures No. 4) Bill 2017

Description

Income tax relief for transfers within a fund to a MySuper product. Integrity changes to the wine equalisation tax producer rebate rules.

Status

Received Royal Assent 23.8.2017. Act No. 94 of 2017.

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

Introduced into House of Reps 11.5.17.

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. Awaiting passage by Senate.