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Employee share schemes – further draft legislation released
Treasury has released for comment further draft legislation to implement the Government's reform to the taxation of employee share schemes (ESS). Read more   

Non-commercial loan rules – changes to small business aspects
The Assistant Treasurer has announced clarifications to the Government's 2009 Federal Budget proposal to tighten the non-commercial loan rules Read more   

Tax Bill (No 5) 2009 introduced
The Tax Laws Amendment (2009 Measures No 5) Bill 2009 was introduced in the House of Reps on 16 September 2009. Read more    

Trading stock ruling released
The ATO has released TR 2009/5 which clarifies the tax treatment for buyers and sellers of trading stock in which the transaction involves the provision of trade incentives. Read more    

New worker protection laws allow tax checks
New laws to protect the rights of temporary overseas workers and ensure Australian wages and conditions are not undermined commenced on 14 September 2009. Read more    

Tax agent registration refused – AAT case
The AAT has confirmed the decision to refuse to register the applicant as a nominee of a tax agent. Read more  


  
GST and credit card fees – ATO views on AAT case
The Tax Office has released a Decision Impact Statement on the decision in AAT Case [2009] AATA 442, Re Waverley Council and FCT re credit card fees. Read more    

GST input tax credits - Qld Harvesters Pty Ltd case - ATO gives its views
The Tax Office has released a Decision Impact Statement on the decision in AAT Case [2009] AATA 351, Re Queensland Harvesters Pty Ltd and FCT (2009) 72 ATR 301 concerning the denial of input tax credits.  Read more  



Superannuation lost members’ accounts – draft legislation
Treasury has released draft legislation to implement the Government's 2009-10 Budget measure to require superannuation funds to transfer certain small and unidentifiable accounts of lost members to the Commissioner as unclaimed monies. Read more   

Self-managed super funds – social security waiver
Legislative instruments have been made that provide a social security waiver for asset-test exempt income streams. Read more  



“Phoenix” activity: ASIC wins court action
ASIC has advised that the NSW Supreme Court has found 8 directors of unrelated companies to have acted in breach of the Corporations Act by engaging in what ASIC regards as illegal 'phoenix' activity Read more
 
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