Australia

Wednesday 4 March 2015 

(1) Tax and Super (No. 7) and Exploration Bills 2014 await Royal Assent
(2) KPMG welcomes 'Stone and Chalk'
(3) Tax and Super (No. 5) Bill 2014 awaits Royal Assent
(4) Legislation cleared for introduction into Parliament
(5) Committee hearing on Additional Estimates - transcript released
(6) Export Finance and Insurance Corporation Bill 2014 awaits Royal Assent
(7) Notice of substituted rates of excise duty
(8) Offshore Petroleum and Greenhouse Gas Bills 2014 pass the House
(9) Offshore Petroleum and Greenhouse Gas Bills 2015 pass the House
(10) ATO Rulings released 4 March 2015
(11) Climate Institute comments ahead of Intergenerational Report 2015
(12) CAANZ calls for long-term reform
(13) Australia / Switzerland adopt OECD CRS
(14) Greens welcome Senate amendments to R&D Bill
(15) Government continues Medicare consultation
(16) BCA pre-budget submission 2015-16

(1) Tax and Super (No. 7) and Exploration Bills 2014 await Royal Assent

The Tax and Superannuation Laws Amendment (2014 Measures No. 7) Bill 2014 and Excess Exploration Credit Tax Bill 2014 passed the Senate without amendment and now await Royal Assent.


(2) KPMG welcomes 'Stone and Chalk'

KPMG welcomed the New South Wales (NSW) Premier, Mike Baird's announcement of the location, chair, and corporate partners of the fintech hub in Sydney.


(3) Tax and Super (No. 5) Bill 2014 awaits Royal Assent

The Assistant Treasurer, Josh Frydenberg, moved a motion in the House of Representatives for the Senate amendments to the Tax and Superannuation Laws Amendment (2014 Measures No. 5) Bill 2014 be considered.


(4) Legislation cleared for introduction into Parliament

The Federal Parliamentary Caucus of the Coalition Joint Party cleared one legislation for introduction into Parliament including amendments to the Public Governance and Resources Legislation Amendment Bill (No.1) 2015


(5) Committee hearing on Additional Estimates - transcript released

The Senate Foreign Affairs, Defence and Trade Committee has released the transcript of its examination of the additional estimates for 2014-15 for the Department of Foreign Affairs and Trade.


(6) Export Finance and Insurance Corporation Bill 2014 awaits Royal Assent

On 4 March 2015, the Export Finance and Insurance Corporation Amendment (Direct Lending and Other Measures) Bill 2014 passed the Senate without amendment and now awaits Royal Assent.


(7) Notice of substituted rates of excise duty

The delegate of the Commissioner of Taxation, Thomas Wheeler, gave notice that, on and from 3 March 2015, the substituted rate of excise duty for goods.


(8) Offshore Petroleum and Greenhouse Gas Bills 2014 pass the House

The package of Offshore Petroleum and Greenhouse Gas Bills passed the House of Representatives without amendment and now move to the Senate for consideration.


(9) Offshore Petroleum and Greenhouse Gas Bills 2015 pass the House

The package of Offshore Petroleum and Greenhouse Gas Bills passed the House of Representatives without amendment and now move to the Senate for consideration.


(10) ATO Rulings released 4 March 2015

On 4 March 2015, the Australian Taxation Office (ATO) released two class rulings.


(11) Climate Institute comments ahead of Intergenerational Report 2015

The Climate Institute released a Research Brief that identifies five elements that the Intergenerational Report 2015 should include to effectively address climate change.


(12) CAANZ calls for long-term reform

Chartered Accountants Australia and New Zealand (CAANZ) echoed its pre-budget submission, calling on the Federal Government to release the Tax White Paper and implement structured long-term reforms.


(13) Australia / Switzerland adopt OECD CRS

The Treasurer, Joe Hockey, and the Swiss Ambassador, Marcel Stutz, agreed to increase cooperation to tackle tax evasion through the adoption of OECD common reporting standard.


(14) Greens welcome Senate amendments to R&D Bill

The Australian Greens Deputy Leader, Adam Bandt, welcomed the Senate amendments to remove the 1.5 percent reduction to the R&D tax offset from the Tax and Superannuation Laws Amendment (2014 Measures No.5) Bill 2014.


(15) Government continues Medicare consultation

The Minister for Health, Sussan Ley issued a media statement advising that the Government will be consulting with the industry on Medicare reforms.


(16) BCA pre-budget submission 2015-16

The Business Council of Australia (BCA) has prepared a pre-budget submission to the Federal Government's 2015-16 Budget.

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