Greenwoods and Freehills Weekly Tax Highlights - Week Ended 30.1.09
ATO Documents
Released 28.1.09
Class Ruling
CR 2009/3: Fringe benefits tax: employers who are clients of Sydney Airport Corporation Limited and who enter into the Sydney Airport Commercial Car Parking Agreement
Self Managed Superannuation Fund Ruling
SMSFR 2009/1: Self Managed Superannuation Funds: business real property for the purposes of the Superannuation Industry (Supervision) Act 1993
Released 30.1.09
Interpretative Decision
ATO ID 2009/4: Capital Allowances: irrigation water provider - primary and principal activity
Review of Managed Investment Trusts
The Board of Taxation has released copies of public submissions which have been made in relation to the Review of Tax Arrangements Applying To Managed Investment Trusts.
Australia - Isle of Man Tax Information Exchange Agreement
Released 30.1.09The Assistant Treasurer has announced the signing of a Tax Information Exchange Agreement (TIEA) and an agreement for the allocation of taxing rights over certain income of individuals between Australia and the Isle of Man. The TIEA will provide for exchange of information, for both civil and criminal tax matters. The TIEA will eliminate double taxation between the two jurisdictions and also provide a mechanism for the resolution of transfer pricing disputes. Australia will also remove any governmental references to the Isle of Man as a tax haven and will list the Isle of Man as an 'information exchange country'.
Progress of Legislation
As at 30.1.09
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27.8.08 |
13.10.08 |
14.10.08 |
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Removes Tax Deductibility of Political Donations, GST | ||
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17.9.08 |
24.9.08 |
25.9.08 |
16.10.08
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31.10.08/111 |
Introduces a Protocol with South Africa | ||
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25.9.08 |
24.11.08 |
25.11.08 |
1.12.08
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9.12.08/145 |
GST, Thin Cap, Division 6C, Definition of "Otherwise Deductible, Exemption of Interest Withholding, | ||
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25.9.08 |
11.11.08 |
25.11.08 |
1.12.08
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9.12.08/141 |
Tax Offsets for Education Expenses | ||
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Temporary Residents' Superannuation Legislation Amendment Bill 2008, |
25.9.08 |
22.10.08 |
10.11.08 |
4.12.08
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Payment of Superannuation on Behalf of Temporary Visa Holders | |
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Superannuation (Departing Australia Superannuation Payments Tax) Amendment Bill 2008 |
25.9.08 |
22.10.08 |
10.11.08 |
4.12.08
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Payment of Superannuation on Behalf of Temporary Visa Holders | |
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Tax Laws Amendment (Medicare Levy Surcharge Thresholds) Bill (No 2) 2008 |
25.9.08 |
13.10.08 |
14.10.08 |
16.10.08
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31.10.08/110 | ||
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13.11.08 |
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Introduces a new legislative regime for Tax Agents | ||
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Tax Laws Amendment (Taxation of Fianancial Arrangements) Bill 2008 |
4.12.08 |
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Division 230. Stages 3 and 4 of TOFA, these being hedging and non-hedging rules | |
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3.12.08 |
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Scrip for Scrip, International Tax collection, Superannuation Offsets. |