Tax Policy and Advocacy
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Advocacy Tracker
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Ongoing Items
The ATO has released a discussion paper for public consultation outlining the ATO’s preliminary approach to determining, for thin capitalisation purposes, the risk weighted assets (RWAs) associated with a foreign bank’s branch that has Australian operations.
The paper also specifies the necessary supporting documentation that the ATO will consider for Justified Trust reviews concerning thin capitalisation positions.
Submissions are due by Friday 31 May 2024. We are currently seeking feedback from members on your views regarding this consultation. To enable The Tax Institute to collate member feedback, if you have feedback to share, please email your response by COB on Friday 10 May 2024 to taxpolicy@taxinstitute.com.au
The Treasury has released for consultation, the subordinate legislation that includes exposure draft subordinate legislation and an accompanying draft explanatory statement.
The Government is inviting feedback on:
the exposure draft subordinate legislation;
the draft explanatory statement; and
the priority issues that would inform the ATO’s approach and PAG and more specifically, the top priority issues and the preferred format for any PAG.
Submissions are due by Thursday 16 May 2024. We are currently seeking feedback from members on your views regarding this consultation. To enable The Tax Institute to collate member feedback, if you have feedback to share, please email your response by COB on Friday 3 May 2024 to taxpolicy@taxinstitute.com.au.
The Treasury has released for consultation exposure draft regulations and accompanying draft explanatory materials regarding proposed new Division 296 of the ITAA 1997.
Submissions are due by Friday 26 April 2024. We are currently seeking feedback from members on your views regarding the draft regulations and explanatory statement. To enable The Tax Institute to collate member feedback, if you have feedback to share, please email your response by COB on Friday 19 April 2024 to taxpolicy@taxinstitute.com.au.
