MIL-OSI Australia: Confirming the meaning of superannuation income stream benefit
Source: Australian Treasurer The Morrison Government has amended the Income Tax Assessment Regulations 1997 (ITAR 1997) to confirm the meaning of ‘superannuation income stream benefit’. The determination of whether a superannuation benefit is a superannuation lump sum or superannuation income stream benefit is a key factor in determining the tax treatment of the superannuation benefit. […]
Read More →MIL-OSI Australia: Work test exemption for recent retirees
Source: Australian Treasurer I am pleased to announce that regulations to give recent retirees an extra year to contribute to superannuation have been made by the Federal Executive Council. This measure will boost older Australians’ confidence in their financial security by providing additional flexibility to contribute to superannuation in the transition to retirement. The work […]
Read More →MIL-OSI Australia: New Deputy Chair of ASIC
Source: Australian Treasurer The Liberal National Government has appointed Ms Karen Chester as a full-time Deputy Chair to the Australian Securities and Investments Commission (ASIC). Ms Chester has been the Deputy Chair of the Productivity Commission since May 2016, having been appointed a Commissioner in December 2013. During this time, Ms Chester presided on over 10 Inquiries […]
Read More →MIL-OSI Australia: Press Conference, National Accounts, Parliament House, Canberra
Source: Australian Treasurer JOSH FRYDENBERG: The Australian economy is strong and is in good shape. We are in our 27th year of consecutive economic growth. Unemployment is down to 5.0 per cent and over 1.1 million jobs have been created under the Liberal and National Government. Business conditions and consumer confidence remain strong. Our AAA […]
Read More →MIL-OSI Australia: National Accounts – September quarter 2018
Source: Australian Treasurer Today’s National Accounts for the September quarter 2018 show the strength of the Australian economy and the strong economic management of the Liberal National Government. We have completed our 27th consecutive year of economic growth, the unemployment rate has fallen to 5.0 per cent and nearly 1.2 million jobs have been created […]
Read More →MIL-OSI Australia: A new data right for all Australians
Source: Australian Treasurer Australians will soon be able to better compare prices and switch between products and providers across the banking, energy and telecommunications sectors, with the Liberal National Government introducing legislation into the Parliament this week that gives individuals access to personal data currently held by businesses. It marks the beginning of a data […]
Read More →MIL-OSI Australia: Government taking action to lower power prices
Source: Australian Treasurer The Liberal National Government will introduce legislation which will provide a range of penalties and remedies for companies that engage in misconduct. The legislation follows a review conducted by the Australian Competition and Consumer Commission (ACCC) which identified problems in the retail, wholesale and the contract market calling the situation “unacceptable and […]
Read More →MIL-OSI Australia: Board of Taxation review into granny flat arrangements
Source: Australian Treasurer The Morrison Government has requested the Board of Taxation undertake a review of the tax treatment of granny flat arrangements and recommend any potential changes. This review is in response to the 2017 Australian Law Reform Commission’s Report: Elder Abuse – a National Legal Response, which identified the development of formal and […]
Read More →MIL-OSI Australia: Backing small business – easier, cheaper and quicker access to resolve tax disputes
Source: Australian Treasurer The Liberal National Government will make it easier, cheaper and quicker for small businesses to resolve tax disputes with the Australian Taxation Office (ATO). Announced by Prime Minister Scott Morrison last night, this builds on a series of initiatives designed to support small and medium businesses in Australia. These businesses have told […]
Read More →MIL-OSI Australia: Determination to make feminine hygiene products GST free
Source: Australian Treasurer Joint media release withThe Hon. Greg Hunt MPMinister for HealthThe Hon. Kelly O’Dwyer MPMinister for Women The Coalition Government has today signed the determination that will remove the Goods and Services Tax (GST) on feminine hygiene products from 1 January 2019. The determination delivers on our Government’s commitment to achieving this long […]
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