Australian government update on previously announced tax measures
Over the past 12 years, 96 tax-related measures have been announced by former governments that have not been legislated. These outstanding tax measures have created uncertainty for taxpayers, of varying degrees. Where a tax measure has not been implemented, taxpayers have needed to decide whether they will arrange their tax affairs based on an announced measure or based on existing tax legislation. This uncertainty is exacerbated in circumstances where either the announced measure is intended to apply retrospectively or where the measure was intended to apply prospectively but the intended commencement date has long since passed.
In a joint media release issued on 6 November 2013, treasurer Joe Hockey and assistant treasurer Arthur Sinodinos outlined the government’s intentions in relation to 92 of these measures. The remaining four outstanding tax measures have already been addressed as a part of the government’s recently announced packages of reforms relating to the repeal of the carbon and mining taxes…
If you are registered and logged in to the site, click on the link below to read the rest of the DLA Piper briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
The Australian Taxation Office released a draft ruling on the Goods and Services Tax treatment of bitcoin transactions on 20 August 2014.
DLA Piper’s ‘Life sciences: patent extension strategies and antitrust global update’ video covers global antitrust and competition issues including product hopping and reverse payment patents.
Analysis from The Lawyer
Regulators are ramping up the pressure in the aftermath of recession, leaving firms to compete for compliance and restructuring work
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.