Treasury:

Tax Treaty between Australia and Israel, closes on 21 August 2019

On 28 March 2019, Australia and Israel signed a new tax treaty, available on the Treasury’s website.

The new tax treaty reduces tax impediments to bilateral trade and investment. In particular, the tax treaty alleviates double taxation by lowering withholding tax rates (on cross border interest, dividend and royalty payments) and also includes OECD/G20 base erosion and profit shifting (BEPS) recommendations to target international tax avoidance practices.

The Australia-Israel tax treaty will enter into force once both countries have completed their domestic requirements to bring the new tax treaty into force, including amending Australia’s domestic law.

The Government has released draft legislation to implement the new treaty. The draft legislation and accompanying explanatory memorandum also includes amendments to ensure that Australia can exercise its taxing rights under the new tax treaty and all future tax treaties, by deeming certain income to have an Australian source.

You can submit responses to this consultation up until 21 August 2019.

 

Senate Standing Committees on Community Affairs:

Family Assistance Legislation Amendment (Extend Family Assistance to ABSTUDY Secondary School Boarding Students Aged 16 and Over) Bill 2019, closes on 16 August 2019

On 1 August 2019, the Senate referred the Family Assistance Legislation Amendment (Extend Family Assistance to ABSTUDY Secondary School Boarding Students Aged 16 and Over) Bill 2019 to the Senate Community Affairs Legislation Committee for inquiry and report.

Submissions are sought by 16 August 2019. The reporting date is 5 September 2019.

 

Centrelink compliance program, closes on 20 September 2019

On 31 July 2019, the Senate referred an inquiry into the Centrelink compliance program to the Senate Community Affairs References Committee for inquiry and report by 4 December 2019.

The terms of reference for the inquiry are available here.

Submissions are sought by 20 September 2019.

 

Senate Standing Committees on Economics:

Performance of the Inspector-General of Taxation, closes on 30 August 2019

On Thursday 1 August 2019, the Senate Economics Legislation Committee resolved to conduct an Inquiry into the performance of the Inspector-General of Taxation.

The Committee will inquire into performance of the Inspector-General of Taxation (IGT) with particular reference to:

  1. whether the accountability framework the IGT operates within needs to be amended or strengthened;
  2. how the IGT conducts its investigations into the Australian Taxation Office (ATO);
  3. what safeguards exist to ensure the independence of the IGT;
  4. the complaints management policies and practices of the IGT;
  5. the protections afforded to whistle-blowers who disclose information to the IGT; and
  6. any related matters.

Submission close on Friday, 30 August 2019. The Committee is expecting to table a final report on Monday, 2 December 2019.

Comments are closed.