Australian Taxation Office

New or updated materials on ATO website, including:

  • TR 2015/3: Income tax matters relating to strata title bodies constituted under strata title legislation.
  • TR 2015/4: CGT small business concessions: unpaid present entitlements and the maximum net asset value test.
  • TD 2015/20: Is a release by a private company of its unpaid present entitlement a 'payment' within the meaning of Division 7A of Part III of the Income Tax Assessment Act 1936?
  • Class rulings issued yesterday
  • Withdrawn TR 2004/8W: Income tax and fringe benefits tax: health promotion charities
  • Updated: Public Rulings Program as at 25 November 2015, includes a proposed new draft tax ruling on deductibility of website development expenditure, scheduled to be released in March 2016

Royal Assent to Bills

Foreign Acquisitions and Takeovers Legislation Amendment Bill 2015 and its related Bills, which make changes to Australia’s foreign investment framework, received Royal Assent yesterday.


Superannuation Legislation Amendment (Trustee Governance) Bill 2015, which will require trustees of registrable superannuation entities to have a minimum of one-third independent directors and an independent Chair on their boards, was debated in the Senate yesterday. Debate was adjourned.