Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 11 - 20 of 23 results for "Income Tax Assessment Act 1997"

Another round of consultation for veteran super taxation

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2023
The government has commenced consultation on new draft regulations related to the Douglas decision, adding to the regulations introduced to parliament late last year. In November 2022, the government introduced legislation aimed at ensuring no veteran ...

The case for tax deductible advice

JAMIE WILLIAMSON  |  MONDAY, 3 JUN 2019
A growing community of like-minded financial advisers is adding its voice to calls for advice to be deemed tax deductible, as advice businesses grapple with the pressures of increased education standards and the Royal Commission. XY Adviser, along with ...

SMSF members want overseas restrictions lifted

DARREN SNYDER  |  TUESDAY, 16 JAN 2018
Australians temporarily living overseas are compelled to switch their self-managed superannuation to an APRA-regulated fund and this becomes a costly and cumbersome exercise. The SMSF Association is calling on the Federal Government to lift these restrictions. ...

FPA pushes tax deductible incentives

KARREN VERGARA  |  TUESDAY, 28 MAR 2017
The Financial Planning Association of Australia is advocating for tax deductions of management fees and costs associated with the initial preparation of a financial plan. In its pre-budget submission to the Federal Government, the FPA says ongoing management ...

American IRAs not super funds

DARREN SNYDER  |  MONDAY, 20 JUL 2015
A recent decision by the Australian Administrative Appeals Tribunal (AAT) ruled that an American Individual Retirement Account (IRA) is not a superannuation fund for Australian Tax Purposes. In the case of Baker and Commissioner of Taxation, tribunal ...

Treasury proposes tax relief for merging super funds

JAMES FERNYHOUGH  |  FRIDAY, 26 SEP 2014
The government finally looks set to provide capital gains taxation relief for merging super funds after years of pressure from the superannuation industry. This week Treasury has released a consultation paper recommending concrete amendments to the ...

Coalition pledges support for super laws amendments bill

JAMES FERNYHOUGH  |  FRIDAY, 21 JUN 2013
The Coalition has said it will support the federal government's Superannuation Laws Amendment Bill, granting tax relief to superannuation funds which do not acquire a MySuper licence. Under MySuper regulations, funds which do not offer a MySuper product ...

Trust tax reform can be split

MELANIE TIMBRELL  |  TUESDAY, 31 JUL 2012
Assistant Treasurer David Bradbury's announcement yesterday of a further delay to tax reform for trusts has sparked debate over the relative merit of using the same timetable for a number of reform strands. Speaking at a CPA Australia lunch yesterday ...

TPD insurance review closes

ALEX DUNNIN  |  TUESDAY, 5 JUL 2011
Submissions have just closed on a Treasury inquiry into changing the tax deductibility arrangements for TPD insurance sold through super funds, a review that some funds believe could increase member insurance premiums. The rapid fire inquiry was called ...

Dinosaur fund taxes should be scrapped: Bowen

RUTH LIEW  |  MONDAY, 25 FEB 2008
Australia's managed funds industry may soon undergo a major tax revamp as Assistant Treasurer Chris Bowen calls for the Board of Taxation to review taxation arrangements applying to the sector. Minister Bowen told an Investment and Financial Services ...