Australian Taxation Office
New or updated materials on ATO website, including:
- Class ruling issued yesterday
- Addendum to TD 2014/7: Income tax: in what circumstances is a bank account of a complying superannuation fund a segregated current pension asset under section 295-385 of the Income Tax Assessment Act 1997?
- ATO reminds employers: SuperStream compliance runs out on 31 October
- Small business company tax rate
- Agricultural land register - FAQs
Family Tax Benefit
The Government has announced revised Family Tax Benefit measures that aim to give better targeted assistance to families, encourage workforce participation and fund the Government’s $3.5 billion Jobs for Families package. Legislation was introduced into Parliament yesterday to implement these changes.
Progress of Bills
Customs Amendment (China-Australia Free Trade Agreement Implementation) Bill 2015 andCustoms Tariff Amendment (China-Australia Free Trade Agreement Implementation) Bill 2015, which together seek to implement the China-Australia Free Trade Agreement, were debated in the House of Representative yesterday.
Customs and Trade
The Government has announced that it has reached agreement with the Opposition to support the China Australia Free Trade Agreement. The Bills to implement the agreement are expected to pass the House of Representatives today, and be passed by the Senate when it next sits during the week commencing Monday 9 November 2015.