Australia

Tuesday 9 February 2016 

(1) OECD announces Kenya signs convention on mutual assistance
(2) Tax Laws (Common Reporting Standard) Bill 2015 passes the House
(3) Tax deductibility inquiry - public hearing transcript
(4) Register with the ATO before moving overseas
(5) ATO website update
(6) Australian economy continues to grow

(1) OECD announces Kenya signs convention on mutual assistance

 

On 8 February 2016, the Organisation for Economic Co-operation and Development (OECD) announced that Kenya signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (Convention).

 

(2) Tax Laws (Common Reporting Standard) Bill 2015 passes the House

 

The Tax Laws Amendment (Implementation of the Common Reporting Standard) Bill 2015 passed the House of Representatives without amendment and will move to the Senate for consideration.

 

(3) Tax deductibility inquiry - public hearing transcript

 

The House of Representatives Standing Committee on Economics has released a transcript of its public hearing inquiry into tax deductibility, held in Canberra on 5 February 2016.

 

(4) Register with the ATO before moving overseas

 

The Australian Taxation Office (ATO) is reminding Australians planning to move overseas not to get caught out by recent changes to the compulsory repayment of Higher Education Loan Programme (HELP) and Trade Support Loans (TSL) debts.

 

(5) ATO website update

 

  • BAS reporting of offshore to offshore supply of goods
  • Registering for new roles - income tax withholding

 

(6) Australian economy continues to grow

 

The Australian Trade Commission (Austrade) released the 2016 Benchmark Report: Australia: 25 Years of Consecutive Growth (Benchmark Report).

 

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