2018 Year-end Parliamentary wrap-up

2018 Year-end Parliamentary wrap-up

That’s a wrap! Now that the Federal Parliament has risen for the summer break, this is an opportune time to take stock of the key outstanding tax and superannuation measures. According to the draft Parliamentary sittings for 2019, Parliament is scheduled to next...
Ten-year plan for corporate tax cuts has now been fast tracked

Ten-year plan for corporate tax cuts has now been fast tracked

On 25 October 2018, the Treasury Laws Amendment (Lower Taxes for Small and Medium Businesses) Act 2018 (the Act) received Royal Assent as Act No. 134 of 2018. The Act amends various taxation Acts to accelerate: the reduction of the corporate tax rate for corporate tax...
Some movement on Div 7A … at last!

Some movement on Div 7A … at last!

On 22 October 2018, the Treasury released a consultation paper titled Targeted amendments to the Division 7A integrity rules. The paper sets out the Government’s proposed implementation of the amendments to improve the integrity and operation of Div 7A of Part III of...
Certainty at last for base rate entities … or not?

Certainty at last for base rate entities … or not?

[print-me] After a long period of uncertainty, and in the midst of the recent Liberal Party leadership spill, the Senate on 23 August 2018 unexpectedly passed without amendment the Treasury Laws Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2018 (‘the BRE...
The SG Amnesty: What should employers do?

The SG Amnesty: What should employers do?

[print-me] There is much confusion among tax practitioners and their clients regarding the proposed Superannuation Guarantee (SG) Amnesty, which is intended to run for 12 months from 24 May 2018 to 23 May 2019. However, the SG Amnesty measures are not legislated yet...