New or updated materials on ATO website, including:

Exposure draft legislation

Treasury has released exposure draft law (Treasury Legislation Amendment (Spring Repeal Day) Bill 2015) which proposes to:

  • provide for the Australian Business Number (ABN) to be the single numerical identifier for a registered company and to allow an entity with an ABN to use it instead of a tax file number (TFN) from 1 July 2016
  • enable the Commissioner of Taxation to pay certain superannuation amounts directly to individuals with a terminal medical condition and to remove the requirement for superannuation funds to lodge a separate biannual lost members statement with the Commissioner, and
  • amend the tax law to remove a number of inoperative or spent provisions including the tax-exempt infrastructure borrowing concession.

Submissions can be made until Monday 28 September 2015.