Australia

Thursday 28 May 2015 

(1) KPMG report on EU - Proposals for EU company-ownership registers 
(2) Tax and Super (ESS) Bill 2015 passes the House
(3) Tax Laws (Small Business) Bills 2015 introduced into the House
(4) Crimes Legislation Amendment (Penalty Unit) Bill 2015 introduced into the House
(5) Joint Ministerial announcement on depreciation for farmers
(6) ATO website update

(1) KPMG report on EU - Proposals for EU company-ownership registers 

The European Parliament formally approved proposals to require EU Member States to maintain public registers of ultimate ownership of EU companies and similar entities.


(2) Tax and Super (ESS) Bill 2015 passes the House

The Tax and Superannuation Laws Amendment (Employee Share Schemes) Bill 2015 passed the House of Representatives without amendment and now moves to the Senate for consideration.


(3) Tax Laws (Small Business) Bills 2015 introduced into the House

The Minister for Small Business, Bruce Billson, introduced the Tax Laws Amendment (Small Business Measures No. 1) Bill 2015 and the Tax Laws Amendment (Small Business Measures No. 2) Bill 2015 into the House of Representatives.


(4) Crimes Legislation Amendment (Penalty Unit) Bill 2015 introduced into the House

The Minister for Justice, Michael Keenan, introduced the Crimes Legislation Amendment (Penalty Unit) Bill 2015 into the House of Representatives.


(5) Joint Ministerial announcement on depreciation for farmers

The Government announced that the start date of accelerated depreciation for all farmers will be brought forward and now apply from 12 May 2015.

(6) ATO website update

  • Taxpayer alert - franked distributions
  • Small business tools and support

For KPMG clients

If you are a KPMG client and would like to subscribe to Daily Tax News or receive a copy of any of our Tax in Focus briefs, contact your KPMG adviser.

Tax

Tax services
Our Tax Team assists with corporate tax, transfer pricing, indirect tax, international executive services, R&D incentives, superannuation and more.