8 April 2013
In this week's Tax highlights we feature:
- Superannuation reforms announced: The Government has announced changes to superannuation, including capping the tax exemption for earnings on superannuation assets supporting retirement income streams to the first $100,000 with a concessional rate of 15% applying thereafter
- Improving transparency of the business tax system: The Assistant Treasurer has released a discussion paper which includes proposals requiring the Commissioner of Taxation to publish the Australian Business Number, name, reported total income, taxable income and income tax payable for corporate tax entities with total income of $100 million or more
- Investment Manager Regime (IMR) - Element 3: Exposure draft legislation has been released to implement element 3 of the IMR. The purpose of element 3 of the IMR is to provide tax certainty to widely held foreign managed funds investing in Australia.
Plus we provide our synopsis of the latest legislative developments, cases, announcements, and ATO information and releases.