Australia

Monday 15 December 2014  

(1) White Paper on the reform of the Federation - issue papers released
(2) Bills receive Royal Assent
(3) Carbon Farming Rule and Regulation 2014 released
(4) OECD paper on new elasticity estimates for EU budget surveillance
(5) COAG Disability Reform Council - Communiqué
(6) For the International Tax Director
(7) TPB guidelines released: Tax (financial) advisers
(8) Making over-the-counter derivatives markets safer

(1) White Paper on the reform of the Federation - issue papers released

The Prime Minister, Tony Abbott has released two issues papers on health and housing and homelessness to inform the White Paper on the Reform of the Federation.


(2) Bills receive Royal Assent

Tax and Superannuation Laws Amendment (2014 Measures No. 6) Bill 2014 and ACT Government Loan Bill 2014 received Royal Assent.


(3) Carbon Farming Rule and Regulation 2014 released

Carbon Credits (Carbon Farming Initiative—Interim Measures) Rule 2014 and the Carbon Credits (Carbon Farming Initiative) Amendment Regulation 2014 (No. 2) were registered on 12 December 2014.


(4) OECD paper on new elasticity estimates for EU budget surveillance

OECD has published a paper entitled New tax and expenditure elasticity estimates for EU budget surveillance which estimates the elasticities of government revenue and expenditure items for EU countries


(5) COAG Disability Reform Council - Communiqué

On 12 December 2014, the Council of Australian Governments (COAG) Disability Reform Council held a meeting to discuss the full roll-out of the National Disability Insurance Scheme (NDIS).


(6) For the International Tax Director

For an Australian Tax Director interested in a brief overview of the latest tax developments internationally, a selection of recent KPMG publications available via various KPMG websites is listed.


(7) TPB guidelines released: Tax (financial) advisers

The Tax Practitioners Board (TPB) has released the guidelines to understand the factors that provide the basis for the TPB's approach to the educational eligibility requirements for registration as a tax (financial) adviser.


(8) Making over-the-counter derivatives markets safer

The Government has announced that it is implementing a range of reforms to make over-the-counter derivatives markets safer and ensure that regulatory reforms do not impose an unnecessary compliance burden on industry.

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