This paper provides background to the process of the Stamp Duty rewrite project. The paper summarises the current status of the project, outlines the key issues emerging from the process of consultation and explains the process necessary to complete the project.
The changes introduced into the Fringe Benefits Tax system are discussed in the context of their impact on salary packaging. FBT changes are outlined, and the issue of company cars and novated lease is also covered.
This paper looks at Division 19A and Division 19B which deal with the transfer of assets between companies under common ownership and share value shifting. Flow charts on the operation of both Divisions are also included in the paper.
This paper discusses section 51(1) of the ITAA. The background of the section and its basic principles are outlined. The symmetry of the section, the necessary nexus and the exclusionary provisions are all discussed in the context of a number of cases on deductions for expenditure.
This paper was also presented on 20 October 1995 at the "Tasmanian Seminar: A Celebration of Taxation by the Sea".
The process undertaken in the Corporations Law Simplification Programme is outlined and the First Corporate Law Simplification Act 1995 is discussed. The Acts covered the three priority areas of small business company structure, share buy backs and company registers. The Second Corporate Law Simplification Bill 1995 and its amendments are also discussed and the planned future amendments are also covered.