Australia

Thursday 30 July 2015 

(1) New Thinking - A new simplicity for fringe benefits
(2) Senate inquiry into innovation framework
(3) Joint Select Committee inquiry into FTAs
(4) ATO website update
(5) ACNC report on overseas activities
(6) Industry support on inquiry into women's super

(1) New Thinking - A new simplicity for fringe benefits

 

As part of KPMG's submission on tax reform, we looked at Australia's fringe benefits tax (FBT), which was introduced almost thirty years ago, and has a number of shortcomings.

 

(2) Senate inquiry into innovation framework

 

The Senate Economics References Committee published the hearing transcript from 27 July 2015, regarding its inquiry on Australia's innovation framework.

 

(3) Joint Select Committee inquiry into FTAs

 

The Joint Select Committee on Trade and Investment Growth published its hearing transcript from 28 July 2015, regarding its inquiry on Australia's Free Trade Agreements (FTAs) with other nations.

 

(4) ATO website update

 

  • Loss recoupment rules for companies
  • Not-for-profit FBT Calculator
  • Case study - Life insurance and buy-sell agreements
  • Not-for-profit FBT calculator released
  • Fuel tax credit calculator

 

(5) ACNC report on overseas activities

 

The Australian Charities and Not-for-profits Commission (ACNC) commissioned a report entitled Australian charities involved overseas.

 

(6) Industry support on inquiry into women's super

 

On 23 July 2015, the Australian Institute of Superannuation Trustees (AIST) and Women in Super (WIS) announced their support for a Senate inquiry into the retirement savings gap for women. 

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