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Tax highlights

11 June 2013


In this week's Tax highlights we feature:

  • State and Territory 2013 Budgets released: The following State and Territory Budgets were delivered last week and include the following tax related measures relevant to business:

    • Queensland: Increase in the rate of duty on policies of insurance and deferral of the increase in the payroll tax threshold

    • ACT: Reduction in the rate of duty on general and life insurance contracts and a reduction in conveyance duty on all residential and commercial property transactions over $1.65 million

    • South Australia: Introduction of a full, legislative stamp duty exemption for all eligible corporate reconstructions and a two-year payroll tax rebate for employers with a taxable Australian payroll of $1.2 million or less

  • Advance finding applications due 28 June 2013: Applications for advance finding to determine the eligibility of current activities for the research and development tax incentive must be lodged with AusIndustry by 28 June 2013.

Plus we provide our synopsis of the latest legislative developments, cases, announcements, and ATO information and releases.


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