Class Ruling
CR 2009/63: Income tax: Proposed return of capital: Forrestfield & Districts Community Financial Services Limited

Released 13.11.09

New Interpretative Decisions
ATO ID 2009/132: Administrative penalty: failure to withhold from royalty payments to a French resident
ATO ID 2009/133: PAYG withholding: penalty for failure to withhold - objection rights
ATO ID 2009/134: Capital Works: your area - tax law partnership
ATO ID 2009/135: Capital Allowances: hold - tax law partnership
ATO ID 2009/136: Convertible debentures and tainted share capital accounts

Tax Agent Regulations

Released 13.11.09

The Government has registered the Tax Agent Services Regulations 2009 and the associated explanatory statement on the Federal Register of Legislative Instruments. The Regulations prescribe the qualifications and relevant experience requirements for registration as a tax agent and a BAS agent. The Regulations also list the obligations of the Commissioner of Taxation to provide administrative assistance to the Tax Practitioners Board.

Progress of Legislation

As at 13.11.09

Bill	Explanatory Memorandum	Intro House	Passed House	Intro Senate	Passed Senate	Date of Royal assent / Act Number	Description
Carbon Pollution Reduction Scheme (Consequential Amendments)No 2 Bill 2009	EM	22.10.09			.		Carbon Production Reduction Scheme, Income Tax And GST Treatment
Customs Tariff Amendment (2009 Measures No 1) Bill 2009 [No 2]	EM	22.6.09	22.6.09	23.6.09	13.8.09	27.8.09/74	Bill to increase the customs duty rate applying to certain alcoholic beverages
Excise Tariff Amendment (2009 Measures No 1) Bill 2009 [No 2]	EM	22.6.09	22.6.09	23.6.09	13.8.09	27.8.09/73	Bill to increase the excise rate applying to certain alcoholic beverages
Income Tax (TFN Withholding Tax (ESS)) Bill 2009	EM	21.10.09					Bill to increase the excise rate applying to certain alcoholic beverages
International Tax Agreements Amendment Bill (No. 1) 2009	EM	19.3.09	16.9.09	17.9.09	17.9.09 .	8.10.09/105	Tax Information Exchange Agreement: British Virgin Islands and Isle of Man
Tax Agent Services (Transitional Provisions and Consequential Amendments) Bill 2009	EM	24.6.09	27.10.09	29.10.09	29.10.09		Employee Share Schemes
Tax Laws Amendment (2009 Measures No 4) Bill 2009	EM	25.6.09	7.9.09	8.9.09	10.9.09	18.9.09/88	R&D, Prescribed private funds, Demutualisation of friendly societies, Consolidation
Tax Laws Amendment (Budget Measures No. 2) Bill 2009	EM	21.10.09					Employee Share Schemes, Non-Commercial Losses, Lost Superannuation
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2009	EM	28.5.09	4.6.09	15.6.09	15.6.09 .	23.6.09/41	Medicare Levy and Medicare Levy Surcharge
Tax Laws Amendment (Political Contributions and Gifts) Bill	EM	27.8.08	13.10.08	14.10.08	3.2.09 .		Removes Tax Deductibility of Political Donations, GST
Tax Laws Amendment (2009 Measures No 5) Bill 2009	EM	16.9.08	29.10.09		.		GST, PAYG Instalments, Bushfire Appeal

These notes are in summary form designed to alert clients to tax developments of general interest. They are not comprehensive , they are not offered as advice and should not be used to formulate business or other fiscal decisions.

Liability limited by a scheme approved under Professional Standards Legislation.