Treasury:
Currency (Restrictions on the Use of Cash) Bill 2019, closes on 12 August 2019
In the 2018-19 Budget, the Government announced it would introduce an economy-wide cash payment limit of $10,000 for payments made or accepted by businesses for goods and services. Transactions equal to, or in excess of this amount would need to be made using the electronic payment system or by cheque. The Black Economy Taskforce recommended this action to tackle tax evasion and other criminal activities.
The Government has released for public consultation exposure draft legislation and accompanying explanatory material to implement the economy-wide cash payment limit from 1 January 2020 and for certain AUSTRAC reporting entities from 1 January 2021.
You can submit responses to this consultation up until 12 August 2019.
Remake of sunsetting Luxury Car Tax regulations, closes on 13 August 2019
The existing A New Tax System (Luxury Car Tax) Regulations 2000 are scheduled to sunset on 1 October 2019.
The draft A New Tax System (Luxury Car Tax) Regulations 2019 are being made to ensure the ongoing operation of various Luxury Car Tax exemptions and refunds.
The draft regulations do not alter the substantive meaning or operation of the existing regulations. Minor technical changes have been made to reflect current drafting practice and omit provisions that are no longer operative.
Further details on the draft regulations are contained in the Explanatory Statement. The community’s views are sought on the draft regulations.
You can submit responses to this consultation up until 13 August 2019.
Remake of sunsetting Wine Equalisation Tax regulations, closes on 13 August 2019
The existing A New Tax System (Wine Equalisation Tax) Regulations 2000 are scheduled to sunset on 1 October 2019.
The draft A New Tax System (Wine Equalisation Tax) Regulations 2019 are being made to ensure the ongoing operation of the Tourist Refund Scheme as it applies to Wine Equalisation Tax (WET) and ensure continuity in the definitions of wine, fruit wine and mead used for WET purposes.
The draft regulations do not alter the substantive meaning or operation of the existing regulations. Minor technical changes have been made to reflect current drafting practice and omit provisions that are no longer operative. Transitional provisions are included in the draft regulations to ensure the Tourism Refund Scheme applies to purchases made before 1 October 2019.
Further details on the draft regulations are contained in the Explanatory Statement. The community’s views are sought on the draft regulations.
You can submit responses to this consultation up until 13 August 2019.
Remake of sunsetting product grants and benefits administration regulations, closes on 13 August 2019
The existing Product Grants and Benefits Administration Regulations 2000 are scheduled to sunset on 1 October 2019.
The draft Product Grants and Benefits Administration Regulations 2019 are being made to ensure the ongoing operation of the Product Stewardship for Oil Program under the Product Grants and Benefits Administration Act 2000.
The draft regulations do not alter the substantive meaning or operation of the existing regulations. Minor technical changes have been made to reflect current drafting practice and omit provisions that are no longer operative.
Further details on the draft regulations are contained in the Explanatory Statement. The community’s views are sought on the draft regulations.
You can submit responses to this consultation up until 13 August 2019.
Remake of sunsetting GST transition regulations, closes on 13 August 2019
The existing A New Tax System (Goods and Services Tax Transition) Regulations 2000 are scheduled to sunset on 1 October 2019.
The draft A New Tax System (Goods and Services Tax) Amendment (Transition) Regulations 2019 are being made to facilitate the application of the goods and services tax to supplies made under contracts entered into prior to 1 July 2000.
The draft regulations do not alter the substantive meaning or operation of the existing regulations. Minor technical changes have been made to reflect current drafting practice and omit provisions that are no longer operative.
Further details on the draft regulations are contained in the Explanatory Statement. The community’s views are sought on the draft regulations.
You can submit responses to this consultation up until 13 August 2019.
Luxury car tax – increased refunds for eligible primary producers and tourism operators, closes on 14 August 2019
In the 2019-20 Budget, the Government announced that it would provide further relief to farmers and tourism operators by amending the luxury car tax arrangements.
The Government has released exposure draft legislation and explanatory material for amendments that would give effect to this Budget announcement.
Under these new arrangements, eligible primary producers and tourism operators will be able to apply for a refund of any luxury car tax paid, up to a maximum of $10,000, for vehicles acquired on or after 1 July 2019.
Currently, primary producers and tourism operators may be eligible for a partial refund of any luxury car tax paid on eligible four wheel or all wheel drive cars, up to a maximum of $3,000. The eligibility criteria and types of vehicles eligible for the current partial refund will remain unchanged under the new arrangements.
You can submit responses to this consultation up until 14 August 2019.
Remake of sunsetting private ancillary fund guidelines, closes on 21 August 2019
The existing Private Ancillary Fund Guidelines 2009 are scheduled to sunset on 1 October 2019.
The draft Taxation Administration (Private Ancillary Fund) Guidelines 2019 are being made to ensure eligible funds may obtain or maintain deductible gift recipient status.
The draft guidelines do not alter the substantive meaning or operation of the existing guidelines. Minor technical changes have been made to reflect current drafting practice and omit provisions that are no longer operative. Transitional provisions are included in the draft guidelines to ensure continuity of operation between the sunsetting and the new guidelines.
Further details on the draft guidelines are contained in the Explanatory Statement. The community’s views are sought on the draft guidelines.
You can submit responses to this consultation up until 21 August 2019.
Disclosure of business tax debts, closes on 21 August 2019
On 24 July 2019, the Government introduced legislation which gives the Australian Taxation Office (ATO) the ability to disclose the tax debt information of businesses who do not pay their tax debts to credit reporting bureaus in certain circumstances.
The Government is seeking the community’s views on the exposure draft legislative instrument which sets out the class of business whose tax debt information can be disclosed. The legislative instrument only allows the ATO to disclose this information when certain conditions and safeguards are met, including ensuring the entity has not entered into a payment arrangement with the ATO, does not have a complaint with the Inspector-General of Taxation about the disclosure of debt information and has total tax debts of at least $100,000 which has been payable for more than 90 days.
You can submit responses to this consultation up until 21 August 2019.
Senate Community Affairs References Committee:
Adequacy of Newstart and related payments and alternative mechanisms to determine the level of income support payments in Australia, closes on 13 September 2019
On 25 July 2019, the Senate referred an inquiry into the adequacy of Newstart and related payments and alternative mechanisms to determine the level of income support payments in Australia to the Senate Community Affairs References Committee for inquiry and report by 27 March 2020.
Submissions for this inquiry are sought by 13 September 2019.
Senate Economics Legislation Committee:
Treasury Laws Amendment (2019 Tax Integrity And Other Measures No. 1) Bill 2019 [Provisions], closes on 15 August 2019
On 25 July 2019, the Senate referred the provisions of the Treasury Laws Amendment (2019 Tax Integrity And Other Measures No. 1) Bill 2019 to the Economics Legislation Committee for inquiry and report by 5 September 2019.
Submissions for this inquiry close on 15 August 2019.
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