4 February 2013
In this week's Tax highlights we feature:
- Resumption of Parliament for 2013 Autumn sittings: Parliament will resume this week. Proposed for introduction this Autumn are bills
- to amend the general anti-avoidance rule in Part IVA of the Income Tax Assessment Act 1936
- to rewrite the transfer pricing rules
- to prohibit off market transfers between self- managed superannuation funds and related parties where an underlying market exists.
- Deferred start date for not-for-profit (NFP) sector reforms: The Government has announced that the start date for the unrelated commercial activities changes has been deferred to 1 July 2014
- Rulings: The ATO has issued a taxation ruling explaining the meaning of ‘employer’ for the purposes of the short-term visit exception under the Income from Employment Article or it’s equivalent provision in Australia’s tax treaties.
Plus we provide our synopsis of the latest legislative developments, cases, announcements, and ATO information and releases.