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| AUSTRALIAN
LAW AND TAX HEADLINES |
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SARS Commissioner Named New Chair Of OECD Tax Forum
12/05/2008 |
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The Organisation of Economic Cooperation And Development (OECD) has announced that Pravin Gordhan, Commissioner of the South African Revenue Service (SARS), assumed his new role as Chair of the OECD Forum on Tax Administration (FTA) on 1st May 2008.
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ATO Welcomes Results Of Information Security Review
09/05/2008
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The Australian Taxation Office (ATO) on Thursday released the review into its information security practices conducted by PricewaterhouseCoopers (PwC).
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STORY
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ATO Commissioner Warns Against Using Tax Evasion Arrangements In Vanuatu
08/05/2008 |
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Australian Tax Commissioner Michael D’Ascenzo issued a taxpayer alert on Wednesday warning people against using arrangements in Vanuatu or any other jurisdiction to claim false deductions or hide income offshore.
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Australia To Correct Anomaly In GST Law
07/05/2008 |
The Australian government announced on Tuesday that it will seek to amend the tax law to overcome an anomaly limiting the scope of the restriction on refunds to taxpayers if GST is overpaid, following a decision in a recent court case.
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STORY
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Australia-Netherland Antilles Tax Agreement Enters Into Force
06/05/2008 |
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Australian Assistant Treasurer, Chris Bowen, has announced that the Tax Information Exchange Agreement (TIEA) between Australia and the Netherlands Antilles has entered into force and has effect from 1 January 2007.
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Australia Takes Action Against Tax Evasion In Vanuatu
02/05/2008 |
Under the banner of Project Wickenby, Australian and international agencies on Monday conducted operations across three countries to attack abusive tax evasion schemes linked to Vanuatu.
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STORY
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Queensland Authorities Welcome Government Superyacht Visa Change
02/05/2008 |
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The Bligh Government's plan to make Queensland the 'Caribbean of the Southern Hemisphere' received a boost this week as Australia's Federal Minister for Immigration, Chris Evans announced temporary and long-term changes to the visas affecting the superyacht industry.
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EU Strengthens Aviation Relations With Australia
01/05/2008 |
It was announced on Tuesday that the European Union and Australia have signed an aviation agreement which allows European airlines to fly between any EU Member State and Australia.
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STORY
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Activity Statements And Super Contributions Due For March Quarter, Reminds ATO
25/04/2008 |
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The Australian Taxation Office (ATO) has this week reminded businesses that March quarterly activity statements and super contributions are due by Monday, 28th April, 2008.
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ATO Releases Promoter Penalty Practice Statements
24/04/2008 |
Australian Tax Commissioner Michael D’Ascenzo on Thursday released two practice statements outlining the principles that the Tax Office will follow in applying promoter penalty laws.
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STORY
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Certain 'Wash Sale' Arrangements Under Review, States ATO
22/04/2008 |
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Australia's Tax Commissioner, Michael D’Ascenzo, issued a taxpayer alert late last week warning people to be cautious about certain ‘wash sale’ arrangements to reduce capital gains or claim deductions.
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Australia Gears Up For World IP Day
18/04/2008 |
On Wednesday, Senator Kim Carr, Australia's Minister for Innovation, Industry, Science and Research, reaffirmed the important role played by intellectual property (IP) in every successful business.
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STORY
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Australia To Retain Inspector-General Of Taxation
16/04/2008 |
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Australian Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, Chris Bowen, has announced that the government will retain the office of the Inspector-General of Taxation (IGOT) as a separate independent statutory office.
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ATO Warns Against Using New Debt Schemes To Solve Old Debts
14/04/2008 |
The Australian Taxation Office (ATO) on Thursday warned about arrangements whereby taxpayers previously involved with tax avoidance schemes enter into a new scheme to obtain a tax deduction, and to settle debts arising from the financing of the previous schemes.
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Australian Government To Amend Taxation Of Call Options Issued By Companies
14/04/2008 |
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The Australian government has confirmed that it will amend the income tax law to restore the long-standing tax treatment of call options issued by companies.
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UK CEOs Most Sceptical About Tax Harmonisation
11/04/2008 |
While UK business leaders view the tax regime as the most important area of regulation that the government could potentially improve, many more are opposed to the idea of tax harmonisation compared to their global peers, according to a new report by PricewaterhouseCoopers.
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BHP Billiton To Contest ATO Assessment
08/04/2008 |
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Autralian industrial concern BHP Billiton Limited has announced that it intends to challenge assessments by the Australian Tax Office (ATO) in relation to tax relief claimed on a project in Venezuela.
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Australia And South Africa Update Tax Treaty
02/04/2008 |
Australia and South Africa have signed a new protocol to revise the tax treaty between the two countries agreed in 1999, Australia's Assistant Treasurer, Chris Bowen, announced on Tuesday.
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SEC Chairman Cox And Australian PM Rudd Meet
01/04/2008 |
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Meeting at the weekend, US Securities and Exchange Commission Chairman, Christopher Cox and Australian Prime Minister, Kevin Rudd announced that formal discussions have have begun on developing a mutual recognition arrangement for the two nations’ securities markets.
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D'Ascenzo Speaks At International Conference OnTax Administration
31/03/2008 |
Michael D'Ascenzo, the Australian Commissioner of Taxation delivered a speech at the 8th International Conference on Tax Administration
in Sydney on Thursday.
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STORY
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