Annual Regulatory Plan - Planned activities

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Type of entry Planned activity
Title Clean Energy Finance Corporation (CEFC)
Description of issue The Clean Energy Finance Corporation Bill 2012 will establish the CEFC. The Corporation will begin its investment function from 1 July 2013. The CEFC will be a $10 billion fund dedicated to investing in clean energy. It will supplement existing initiatives, such as the Renewable Energy Target and the carbon price, to catalyse and leverage the flow of funds for commercialisation and deployment of renewable energy, low-emission and energy efficiency technologies necessary for Australia's transition to a lower carbon economy. The CEFC will finance Australia's clean energy sector using financial products and structures to address the barriers currently inhibiting investment. The Corporation will apply a commercial filter when making its investment decisions, focussing on projects and technologies at the later stages of development.
Consultation opportunities Nil. In October 2011, the Government appointed an Expert Review Panel to advise on the design of the Corporation. The Panel consulted broadly and sought submissions across the sector and presented its report to the Government in March 2012. A copy of the review is available on

the Clean Energy Finance Corporation Expert Review website The Government accepted the recommendations of the report and is implementing them through the current Bill. The Bill was passed by the House of Representatives on 30 May 2012. It is expected that the Clean Energy Finance Corporation Bill 2012 will be passed by the Senate by 28 June 2012.
Expected timetable The CEFC will begin its investment function from 1 July 2013. During the pre-investment phase, the Government will appoint the CEFC Board who will be responsible for the management, operational and investment decisions of the Corporation, operating independently of the Government. The Government will also provide the Board with an investment mandate that, combined with the legislation, will set the parameters for its management of investments. During its pre-investment phase the CEFC will also develop an investment strategy and guidelines for investment proponents.
Contact details Karla Rayner Adviser Industry, Environment and Defence Division Telephone: (02) 6263 4046 Email: karla.rayner@treasury.gov.au
Date last modified 21 June 2012
Title Tax Losses of Designated Infrastructure Projects
Description of issue The measure will uplift project losses associated with designated infrastructure projects at the government bond rate and exempt those losses from the continuity of ownership test and the same business test.
Consultation opportunities Exposure draft legislation is expected in the second half of 2012.
Expected timetable Legislation is expected to be introduced in late 2012.
Contact details Hector Thompson Principal Adviser Corporate Tax Unit Business Tax Division Telephone: (02) 6263 3998 Facsimile: (02) 6263 4466 Email:

hector.thompson@treasury.gov.au
Date last modified 21 June 2012
Title Further reforms to the executive remuneration framework
Description of issue On 21 February 2012, the Government has announced reforms aimed at improving Australia's executive remuneration framework.

  • The reforms will be implemented by amending the Corporations Act 2001 and the Corporations Regulations 2001. The reforms include:
  • requiring listed companies whose financial statements have been materially misstated to disclose in the remuneration report details of whether any remuneration has been 'clawed-back';
  • improving and simplifying the disclosure requirements in the remuneration report, in response to the recommendations made by the Corporations and Markets Advisory Committee (CAMAC);
  • relieving certain unlisted entities from the obligation to prepare a remuneration report; and
  • moving requirements to disclose transactions with key management personnel into the Regulations, when they are withdrawn from the accounting standards on 1 July 2013.
Consultation opportunities A discussion paper on clawback The clawback of executive remuneration where financial statements are materially misstated (available on

the Treasury Archive website) was released for public consultation in December 2010. The consultation period ended in March 2011. The draft Bill and Regulations are expected to be exposed for public consultation to interested stakeholders on the Treasury website in late 2012.
Expected timetable The draft Bill and Regulations are expected to be exposed for public consultation in late 2012, with passage of the legislation to follow.
Contact details Scott Rogers Manager Corporate Reporting and Accountability Unit Corporations and Capital Markets Division Telephone: (02) 6263 3076 Email:

Scott.Rogers@treasury.gov.au
Date last modified 26 June 2012
Title Consultations on the regulatory framework for competition in the clearing and settlement functions of the Australian cash equity market.
Description of issue On 15 June 2012 the Deputy Prime Minister and Treasurer (DPM) released a Council of Financial Regulators (Council) discussion paper on competition in the clearing and settlement of the Australian cash equity market. The discussion paper sets out a preliminary assessment of the issues that might need to be addressed to ensure that competition between providers of clearing and settlement services does not adversely impact the effective functioning of the market for ASX securities or the stability of the Australian financial system. The discussion paper will assist the way Australian regulators' existing powers are deployed in ensuring competition and stability in equity market clearing and settlement. The consultations on the discussion paper will help identify possible further policy responses required to achieve these objectives.
Consultation opportunities Consultation opportunities (continued) In October 2011, the DPM released a Council consultation paper setting out proposals to strengthen regulatory oversight of financial market infrastructure. The paper also identified issues for consideration around competition in clearing and settlement. Following this consultation, the Council's advice was published by DPM in March 2012. Treasury has engaged with stakeholders to inform the development of a final policy framework based on the Council's advice.

Council of Financial Regulators Working Group on Financial Market Infrastructure Regulation consultation paper on the Treasury website. On 15 June 2012 the Treasurer released a Council discussion paper that specifically considers competition in the clearing and settlement of the Australian cash equity market.

Competition in the clearing and settlement of the Australian cash equity market consultation paper on the Treasury website
Expected timetable Consultations on the Council's discussion paper will close on 10 August 2012. No firm dates have been set in relation to next steps.
Contact details Daniel McAuliffe Manager Financial Markets Unit Corporations and Capital Markets Division Telephone: (02) 6263 2804 Facsimile: (02) 6263 2770 Email:

daniel.mcauliffe@treasury.gov.au
Date last modified June 2012
Title Introduction of a legislative framework to implement Australia's G20 commitments in regards of over-the-counter (OTC) derivatives.
Description of issue On 18 April 2012 the Government announced its intention to introduce a legislative framework to enable the imposition of requirements for trade reporting, central clearing and on-platform trading of OTC derivatives. This framework will be introduced via amendments to the Corporations Act 2001. The amendments do not impose any trade reporting, clearing or execution requirements per se; but create the ability to impose requirements by way of a combination of regulations and regulator made rules. For this reason the regulatory changes would be unlikely to impact business until requirements are established by regulators. This approach will provide a high degree of flexibility in implementing trading, clearing and on platform trading mandates. The regime can therefore be more readily adapted to international developments. It will also facilitate the phasing in of requirements, in a way that is responsive to perceived areas of higher risk and to natural market developments in clearing and trade platform execution. It is expected that only trade reporting requirements will be put in place in the first instance with other requirements to follow.
Consultation opportunities In July 2011 the Reserve Bank released a discussion paper on 'Central Clearing of OTC Derivatives in Australia', submissions closed on 1 September 2011.

Central Clearing of OTC Derivatives in Australia discussion paper on the Reserve Bank of Australia wevsite On 18 April 2012 the Government released a consultation paper seeking stakeholder views on the detailed design of a framework to implement Australia's G20 commitments in relation OTC derivatives. Consultation closed on 15 June 2012.

Implementation of a framework for Australia's G20 over-the-counter derivatives commitments consultation paper on the Treasury website It is intended that an exposure draft of the legislation be released for consultation in mid-2012.
Expected timetable It is intended that legislation be introduced in late 2012.
Contact details Daniel McAuliffe Manager Financial Markets Unit Corporations and Capital Markets Division Telephone: (02) 6263 2804 Facsimile: (02) 6263 2770 Email:

daniel.mcauliffe@treasury.gov.au
Date last modified June 2012.
Title Strengthening the regulatory framework for financial market infrastructures (FMI)
Description of issue FMI include critical elements of the financial system such as licensed financial markets and clearing and settlement systems. Options are being developed for introducing reforms to strengthen the regulation and supervision of Australia's critical FMIs, including the following:

  • enabling regulators to require FMIs to have key aspects of their operations located in Australia;
  • increased powers for regulators to provide directions to FMIs and intervene in the management and operation of FMIs in defined circumstances;
  • strengthened requirements to ensure that FMIs are overseen by 'fit and proper' persons; and
  • strengthened powers for regulators to require FMI to amend their operating rules.
Consultation opportunities The Deputy Prime Minister and Treasurer (DPMT) in April 2011 asked the Council of Financial Regulators (CFR) to provide advice about potential reforms to strengthen Australia's regulatory framework for FMI. In response the CFR released a consultation paper on 21 October 2011 setting out proposals to strengthen regulatory oversight of FMI. Following this consultation the CFR provided its advice in a letter dated 10 February 2012 from the Reserve Bank Governor to the Deputy Prime Minister and Treasurer. On 30 March 2012 the Deputy Prime Minister and Treasurer released the Council's advice and announced that Treasury would conduct further consultation on options to implement the final framework, and would also consult later on any draft legislation before introduction. Treasury has conducted further targeted consultation on options for reforming the regulatory framework for FMI. It is anticipated that draft legislation containing the proposed reforms will be exposed for public consultation later in the second half of 2012.
Expected timetable It is anticipated that in principle policy approval for the reforms will be sought from the Government later in 2012. Subject to policy approval, it is expected that legislation containing the final reforms will be introduced in Parliament in the first half of 2013.
Contact details Daniel McAuliffe Manager Financial Markets Unit Corporations and Capital Markets Division Telephone: (02) 6263 2804 Facsimile: (02) 6263 2770 Email: daniel.mcauliffe@treasury.gov.au
Date last modified 22 June 2012
Title Modernisation and harmonisation of the regulatory framework applying to insolvency practitioners in Australia
Description of issue The key features of the proposed measure are reforms to the corporate and personal insolvency systems to:

  • Enhance and align the standards of entry into the insolvency profession and processes for registration.
  • Align the disciplinary mechanisms for insolvency practitioners, with the adoption of enhanced personal insolvency style disciplinary committees for both regimes.
  • Clarify and enhance the powers of the regulators to conduct surveillance and inquire into the conduct of practitioners.
  • Pr ovide creditors with greater ability to remove and replace insolvency practitioners. Mechanisms enabling creditors to access information and monitor practitioner performance will also be greatly improved.
  • Strengthen insurance cover requirements for insolvency practitioners and associated mechanisms to detect and punish non-compliance.
  • Remove unnecessary costs in insolvency administrations.
  • Strengthen the remuneration framework and make practitioners more accountable for the disbursement of administration funds.
Consultation opportunities Public consultation has already occurred through the release of an options paper in June 2011, and a proposal paper in December 2011, on the modernisation and harmonisation of the regulatory frameworks applying to insolvency practitioners. A Regulation Impact Statement is available at OBPR's website:

The Harmonisation and Modernisation of the Regulatory Framework Applying to Insolvency Practitioners in Australia – Regulation Impact Statement –Treasury on the Office of Best Practive Regulation website Public consultation is expected on the draft Bill, and draft Regulations, in the second half of 2012.
Expected timetable Legislation is estimated to be introduced into Parliament late 2012/early 2013. Regulations are estimated to be made in the first half of 2013.
Contact details Alix Gallo Manager Governance and Insolvency Unit Corporations and Capital Markets Division Telephone: (02) 6263 2870 Email:

alix.gallo@treasury.gov.au
Date last modified 28 June 2012
Title Personal Liability for Corporate Fault Reform
Description of issue The Personal Liability for Corporate Fault Reform Bill 2012 will amend Commonwealth legislation such that it applies personal liability to Directors and other corporate officers in a manner consistent with a set of Principles developed by COAG. Similar legislation will be passed by all Australian states and territories with the aim of ensuring that personal criminal liability on corporate officers for corporate fault is imposed in a nationally consistent and principled manner. The Bill will amend a number of Commonwealth Acts that impose personal criminal liability. The subject matter of these Acts varies significantly, from health care and publications classification to banking and insurance. The Bill follows a consideration of all Commonwealth legislation against the aforementioned Principles, and amends areas where existing legislation was found to be inconsistent with these Principles.
Consultation opportunities Public consultation papers for two tranches of the Personal Liability for Corporate Fault Reform Bill were released on 27 January and 1 June 2012, for a 9 week and 4 week period respectively. A short final targeted consultation period for the final piece of (combined) legislation (as amended following feedback from the first two tranches) is expected in the second half of 2012. Information regarding the first tranche of consultation can be found at

Personal liability for Corporate Fault Reform Bill 2012 on the Treasury website. Information regarding the second tranche of consultation can be found at

Personal Liability for Corporate Fault Reform Bill 2012 Tranche 2 on the Treasury website.
Expected timetable Legislation is expected to be introduced in the Spring sittings of 2012.
Contact details Alix Gallo Manager Governance and Insolvency Unit Corporations and Capital Markets Division Telephone: (02) 6263 2870 Email:

alix.gallo@treasury.gov.au
Date last modified 27 June 2012
Title Australian Charities and Not-for-profits Commission Bill and the Australian Charities and Not-for-profits Commission (Consequential and Transitional) Bill
Description of issue Establish the Australian Charities and Not-for-profits Commission and make consequential amendments relating to the establishment of the Australian Charities and Not-for-profits Commission. The RIS explored this issue further and is available at:

Regulation Impact Statement

Link to announcement
Consultation opportunities Details of public consultation undertaken is at

public consultation -Not-for-Profit
Expected timetable The ACNC will begin operations by 1 October 2012. The ACNC will develop a 'report-once use-often' reporting framework for registered entities to use to report on activities undertaken during the 2012-13 financial year. The ACNC will provide education and support to the sector on regulatory matters, and establish a public information portal by 1 July 2013.
Contact details Chris Leggett Manager Philanthropy and Exemption Unit Indirect, Philanthropy and Resource Tax Division Telephone: (02) 6263 3357 Chris.Leggett@treasury.gov.au
Date last modified 27 July 2012
Title Better Targeting of not for profit Tax Concessions
Description of issue Implement the Government's announcement to better target the not-for-profit tax concessions
Consultation opportunities Details of public consultation undertaken is at

public consultation -Not-for-Profit
Expected timetable The Government has announced the measure will commence on 1 July 2012.
Contact details Chris Leggett Manager Philanthropy and Exemption Unit Indirect, Philanthropy and Resource Tax Division Telephone: (02) 6263 3357 Chris.Leggett@treasury.gov.au
Date last modified 27 July 2012
Title Tax treatment of payment made under the Sustainable Water Use Program
Description of issue Amend tax treatment of payments made under the Sustainable Water Use Program to implement a commitment to eliminate timing differences between when grants are taxed and when deductions are available for expenditure under the Sustainable Water Use Program
Consultation opportunities Exposure draft legislation has been released for

consultation.
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Hector Thompson Manager Corporate Tax Unit Business Tax Division Telephone: (02) 6263 3998 Facsimile: (02) 6263 4352
Date last modified 26 July 2012
Title Tax Laws Amendment (Stronger Super Self-Managed Superannuation Funds) Bill * Superannuation (Self-Managed Superannuation Fund Auditors) Fees Imposition Bill
Description of issue Implements the Government's response to the self-managed superannuation funds recommendations of the Super System Review

Link to announcement
Consultation Opportunities Exposure draft of legislation open for public consultation from 16 July to 3 August 2012.
Expected Timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Louise Lilley Manager Benefits and Regulation Unit Personal and Retirement Unit Telephone: (02) 6263 3327 Facsimile: (02) 6263 3044
Date last modified 26 July 2012
Title Tax Laws Amendment (Stronger Super Self-Managed Superannuation Funds) Bill * Superannuation (Self-Managed Superannuation Fund Auditors) Fees Imposition Bill
Description of issue Implements the Government's response to the self-managed superannuation funds recommendations of the Super System Review

Link to announcement
Consultation Opportunities Exposure draft of legislation open for public consultation from 16 July to 3 August 2012.
Expected Timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Louise Lilley Manager Benefits and Regulation Unit Personal and Retirement Unit Telephone: (02) 6263 3327 Facsimile: (02) 6263 3044
Date last modified 26 July 2012
Title Mandate the use of data and payments standards and e-commerce for processing of rollovers and accepting of contributions (SuperStream measure)
Description of issue To implement the Government's Stronger Super reforms and to update and improve the operation of existing legislation

Link to announcement
Consultation Opportunities Further details on key design issues for Stronger Super can be found in the information pack on the

Stronger Super website. The outcomes of the Stronger Super consultation process, chaired by Mr Costello, can be found on the

Stronger Super website.
Expected Timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sitting.
Contact details Chris Denney Senior Adviser Benefits and Regulation Unit Personal and Retirement Income Division Telephone: (02) 6263 2037 Facsimile: (02) 6263 3044
Date last modified 26 July 2012
Title Provide for the portability of retirement savings between Australia and New Zealand
Description of issue To implement an international treaty

Link to announcement
Consultation Opportunities It is expected that an exposure draft of this legislation will be released later in 2012.
Expected Timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Louise Lilley Manager Benefits and Regulation Unit Personal and Retirement Income Division Telephone: (02) 6263 4451 Facsimile: (02) 6263 3044
Date last modified 26 July 2012
Title Compel funds to consolidate member accounts between funds where the ATO identifies relevant accounts for consolidation
Description of issue To implement the Government's response to the Cooper Review into the Governance, Efficiency, Structure and Operation of Australia's Superannuation

Link to announcement
Consultation Opportunities Public consultation has been undertaken on the draft law. Further public consultation is envisaged in late July/early August.
Expected Timetable It is expected that consolidation within a fund measure will be introduced into Parliament in the Spring 2012 Sittings. Consolidation between funds will be introduced later.
Contact details Ruth Gabbitas Manager Contributions and Accumulations Unit Personal and Retirement Income Division Telephone: (02) 6263 4154 Facsimile: (02) 6263 3044
Date last modified 26 July 2012
Title Expand existing reporting requirements for superannuation providers in order to support the super stream measures, specifically account consolida tion and on-line display of accounts held by an individual
Description of issue To implement the Government's response to the Cooper Review into the Governance, Efficiency, Structure and Operation of Australia's Superannuation System

Link to announcement
Consultation Opportunities Public consultation on the draft law is expected to occur in coming weeks.
Expected Timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Ruth Gabbitas Manager Contributions and Accumulations Unit Personal and Retirement Income Division Telephone: (02) 6263 4154 Facsimile: (02) 6263 3044
Date last modified 26 July 2012
Title Give the force of law to the Agreement for The Allocation of Taxing Rights with Respect to Certain Income of Individuals and to establish a mutual agreement procedure in respect of transfer pricing adjustments between Australia and the Marshall Islands
Description of issue To implement an international treaty

Link to announcement
Consultation Opportunities N/A. This agreement will enter into force after both countries have completed their relevant domestic requirements. A copy of the agreement can be found on the

Treasury website
Expected Timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Greg Wood Manager International Tax Treaties Unit International, Tax and Treaties Division Telephone: (02) 6263 3329 Facsimile: (02) 6263 2724
Date last modified 26 July 2012
Title CGT Rollover — Amend the tax rules for securities lending arrangements
Description of issue On 10 May 2011, the Government announced that it would amend the tax rules for securities lending arrangements to ensure that the lender under a securities lending arrangement is treated as not having disposed of the lent securities where:

  • the borrower does not return the securities, or identical securities, within 12 months due to its insolvency; and
  • no later than 30 days after the resulting default (or within such longer period that the Commissioner of Taxation allows), the lender restores its original position prior to the securities lending arrangement by using the collateral received under the arrangement to purchase identical securities.

The amendments will apply to securities lending arrangements in existence as at 1 July 2008 and those arrangements entered on or after that date. The measure has an ongoing unquantifiable but small revenue impact. The Government will also consult on whether and, if so, what changes are required to address the suspension of securities on a stock exchange.
Consultation opportunities It is expected that the exposure draft of this legislation will be released September 2012.
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Lee-Anne Sim Analyst Finance Tax Unit Business Tax Division Telephone: (02) 6263 2849 Email: Lee-Anne.Sim@treasury.gov.au
Date last modified 26 July 2012
Title Clarify the eligibility criteria for documentaries under the film producer offset
Description of issue On 8 May 2012, the Government announced that it would insert a definition of documentary, and related terms, into the legislation governing the producer offset. It will apply to films where principal photography commences on or after 1 July 2012. The producer offset provides a refundable tax offset to eligible categories of film and television productions, including documentaries, that have significant Australian content (or are made as official co-productions) and meet minimum qualifying expenditure thresholds. This measure will clarify the intended application of the producer offset by providing a definition of documentary and of related terms.
Consultation opportunities tba
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Jessica Mohr Analyst Corporate Tax Unit Business Tax Division Telephone: (02) 6263 2187 Email: Jessica.mohr@treasury.gov.au
Date last modified 8 May 2012
Title Capital gains tax — minor amendments package
Description of issue The 2011-12 and 2012-13 Budgets included measures to make amendments to the capital gains tax provisions in order to provide greater certainty for taxpayers by fixing technical deficiencies and removing anomalies in the income tax law.
Consultation opportunities Treasury released a proposals paper on the 2011-12 Budget changes. Consultation was conducted between 27 May 2011 and 22 July 2011. Treasury released a subsequent proposals paper on the 2012-13 Budget changes. Consultation was conducted between 27 June 2012 and 25 July 2012. These proposals paper can be viewed on

the Treasury website
Expected timetable These measures will be progressed according to Government priorities.
Contact details Casey Elliott Analyst Capital Gains Tax Unit Business Tax Division Telephone: (02) 6263 3025 Email: Casey.Elliott@treasury.gov.au
Date last modified 26 July 2012
Title Amend taxation of financial arrangements provisions relating to accrual/realisation method, foreign bank branches, hedging and transitional balancing adjustments
Description of issue On 29 June 2010 the Government announced further refinements to the income tax law relating to the Taxation of Financial Arrangements (TOFA) Stages 3 and 4 provisions to provide certainty and clarity on the operation of the law.
Consultation opportunities It is expected that exposure draft legislation will be released in August 2012.
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Nan Wang Manager Finance Tax Unit Business Tax Division Telephone: (02) 6263 2768 Email: Nan.Wang@treasury.gov.au
Date last modified 26 July 2012
Title Am end the tax treatment of native title transactions
Description of issue On 6 June 2012, the Attorney-General announced that the government will amend the tax legislation to make it clear that native title payments and other benefits are not subject to income tax (which includes capital gains tax). Specifically, the tax reforms will make it clear that a payment or non-cash benefit provided under the Native Title Act, or under an agreement made under an Australian law to the extent that that payment or benefit relates to native title, will not be subject to income tax.
Consultation opportunities tba
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Jessica Mohr Analyst Corporate Tax Unit Business Tax Division Telephone: (02) 6263 2187 Email: Jessica.mohr@treasury.gov.au
Date last modified 26 July 2012
Title Include geothermal exploration as deductible expenditure
Description of issue On 24 March 2011, the Government announced that it would introduce a tax deduction for exploration of geothermal energy sources from 1 July 2012.
Consultation opportunities tba
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Shelby Schofield Analyst Resource Taxation Unit Indirect Philanthropy & Resource Tax Division Telephone: (02) 6263 3314 Email: Shelby.Schofield@treasury.gov.au
Date last modified 26 July 2012
Title Establish quarterly credits regime for the research and development of refundable tax offset
Description of issue On 15 June 2011, the Government announced that it would establish a quarterly credits regime. The regime creates an R&D instalment credit and a mechanism for making net (negative) instalments amounts refundable within the year, followed by a year-end reconciliation
Consultation opportunities tba
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Chris Lyon Senior Advisor Corporate Tax Unit Business Tax Division Telephone: (02) 6263 3102 Email: Chris.Lyon@treasury.gov.au
Date last modified 26 July 2012
Title Give the force of law to The Agreement for the Allocation of Taxing Rights with respect to certain income of individuals and to establish a mutual agreement procedure in respect of transfer pricing adjustments between Australia and Mauritius
Description of issue To implement an international treaty Link to announcement
Consultation opportunities N/A. The agreement will enter into force after both countries have completed their relevant domestic requirements. A copy of the agreement can be found on

the Treasury website
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Aaron Bennett Analyst International Tax Treaties Unit International Tax and Treaties Division Telephone: (02) 6263 2978 Email: Aaron.bennett@treasury.gov.au
Date last modified 27 July 2012
Title Modernising the taxation of trust income
Description of issue Update and re-write Division 6 of Part III of the Income Tax Assessment Act 1936 into the Income Tax Assessment Act 1997.
Consultation Opportunities Initial consultation paper released November 2011. Consultation forums held in February and March 2012. Further policy design paper to be released by September 2012.
Expected Timetable tba
Contact details Kate Preston Manager Small Business and Trusts Unit Business Tax Division Telephone: (02) 6263 3116 Facsimile: (02) 6263 4352
Date last modified 27 July 2012
Title Examining the appropriateness of the definition of 'fixed trust'
Description of issue Examine the appropriateness of the definition of 'fixed trust'.
Consultation Opportunities Consultation paper to be released July 2012.
Expected Timetable tba
Contact details Kate Preston Manager Small Business and Trusts Unit Business Tax Division Telephone: (02) 6263 3116 Facsimile: (02) 6263 4352
Date last modified 27 July 2012
Title A new tax system for managed investment trusts
Description of issue Providing a new tax system for managed investment trusts.
Consultation Opportunities Consultation opportunities for industry occurred from October 2010 and are ongoing. These included opportunities to make submissions to consultation paper released October 2010 and several roundtables.
Expected Timetable tba
Contact details Kate Preston Manager Small Business and Trusts Unit Business Tax Division Telephone: (02) 6263 3116 Facsimile: (02) 6263 4352
Date last modified 27 July 2012
Title Refund of excess concessional contributions regulations
Description of issue These regulations will enable superannuation providers to comply with the release authority issued by the Commissioner of Taxation. The release authority is issued to a superannuation provider to authorise the payment of an amount in relation to a refund of excess concessional contributions.
Consultation opportunities An exposure draft of the regulations were released for public consultation on 31 May 2012 and closed on 29 June 2012.
Expected timetable It is expected that these regulations will be approved and registered in August 2012 and will commence from the day after registration.
Contact details Ruth Gabbitas Manager Contributions and Accumulations Unit Personal and Retirement Income Division Telephone: (02) 6263 4154 Facsimile: (02) 6263 3044
Date last modified 26 July 2012
Title Clarify the operation of the income tax general anti-avoidance rule
Description of issue On 1 March 2012 the Government announced that it would act to protect the integrity of Australia's tax system by introducing amendments to Part IVA of the Income Tax Assessment Act 1936 (Part IVA). Specifically, the amendments are intended to make it clear that taxpayers cannot avoid the operation of Part I VA by simply arguing that if they had not entered into the scheme they would not have entered into an arrangement that attracted tax (because, for example, they would not have done anything at all or they would have done something that would have had a different effect from the scheme that was actually entered into). In addition, the Government will confirm that Part IVA was always intended to apply to steps within broader commercial arrangements which have been implemented in a particular way to avoid tax.
Consultation opportunities On 15 March 2012 the Government announced an expert roundtable to assist with the implementation of the proposed clarifications to Part IVA. Dates for public consultation on the draft legislation to be confirmed.
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Kate Roff Principal Adviser Tax System Division Telephone: (02) 6263 3835 Email: Kate.Roff@treasury.gov.au
Date last modified 26 July 2012
Title Capital Gains Tax — Amendments to beneficial interests
Description of issue
  • The Government announced in the 2012-13 Budget that it will make changes to support the effective operation of the 2011-12 Budget measure that provides greater consistency in the application of the scrip for scrip roll-over and small business concessions to trusts, superannuation funds and life insurance companies.
  • The 2011-12 Budget measure will ensure that for the purposes of the scrip for scrip roll-over provisions the 'significant stakeholder' and 'common stakeholder' tests apply effectively and, as originally intended, to trusts and entities that hold interests for the benefit of other entities. The provisions that limit access to a range of small business concessions will also be amended so that they are fully effective when testing whether one entity is 'connected with' another entity.
  • The 2012-13 Budget measure ensures that the provisions concerning absolutely entitled beneficiaries, bankrupt individuals, security providers and companies in liquidation interact appropriately with the capital gains tax provisions and with the connected entity test in the small business entity provisions.
Consultation opportunities Treasury released a proposals paper on the 2011-12 Budget changes. Consultation was conducted between 22 July 2011 and 19 August 2011. Treasury released a subsequent proposals paper on the 2012-13 Budget changes. Consultation was conducted between 20 June 2012 and 18 July 2012. The proposals papers can be viewed on

the Treasury website Further consultation on an exposure draft and explanatory material is expected to occur in 2012.
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Ly Mai Analyst Capital Gains Tax Unit Business Tax Division Telephone: (02) 6263 3919 Email:

Ly.Mai@treasury.gov.au
Date last modified 26 July 2012
Title Capital gains tax — strengthening certain integrity provisions in the scrip for scrip roll-over
Description of issue The Government announced as part of the 2012-13 Budget that it will amend the integrity provisions of the capital gains tax (CGT) scrip for scrip roll-over to remove significant tax minimisation opportunities. The proposed changes are required to ensure that:

  • the stakeholder integrity provisions cannot be avoided by the temporary suppression of ownership rights at the time of a takeover;
  • a CGT liability cannot be reduced by the creation of certain types of intra-group debt; and
  • the integrity rules for the scrip for scrip roll-over apply appropriately to trusts.
Consultation opportunities Treasury released a proposals paper on these changes. Consultation commenced on 13 July 2012 and is expected to conclude on 13 August 2012. The proposals paper can be viewed on

the Treasury website
Expected timetable This measure will be progressed according to Government priorities.
Contact details Paul McMahon Manager Capital Gains Tax Unit Business Tax Division Telephone: (02) 6263 3385 Email:

Paul.McMahon@treasury.gov.au
Date last modified 26 July 2012
Title Capital gains tax and loss relief to facilitate superannuation reforms
Description of issue On 24 April 2012 the Government announced that it will amend the law to ensure that income tax considerations do not prevent mergers of superannuation funds or transfers of existing default members' balances and relevant assets in the transition to Stronger Super and MySuper.

  • From 1 June 2012 to 1 July 2017, optional loss relief will be available for mergers of complying superannuation funds on the same terms and conditions as the former temporary loss relief that applied from 24 December 2008 to 30 September 2011, with some exceptions, including an optional roll-over for capital gains and appropriate integrity provisions.
  • From 1 July 2013 to 1 July 2017, an optional roll-over and loss relief will be made available for capital gains and capital losses on mandatory transfers of default members' balances and relevant assets to a MySuper product in another complying superannuation fund.
Consultation opportunities Treasury released a proposals paper for public consultation. Consultation was conducted between 18 May 2012 and 8 June 2012. The proposals paper can be viewed on

the Treasury website Further consultation on an exposure draft and explanatory material is expected to occur in 2012.
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Ly Mai Policy Analyst Capital Gains Tax Unit Business Tax Division Telephone: (02) 6263 3919 Email:

Ly.Mai@treasury.gov.au
Date last modified 26 July 2012
Title Spreading the benefits of the boom — company loss carry-back
Description of issue Access to company losses will be improved by introducing a loss carry-back measure to allow companies that have paid tax in the past, but are now in a tax loss position, to choose to claim a refund of some of the tax they have previously paid.
Consultation opportunities A discussion paper has been released for

consultation. Exposure draft legislation will also be released for consultation shortly following the closure of consultation on the discussion paper.
Expected timet able It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Hector Thompson Manager Corporate Tax Unit Business Tax Division Telephone: (02) 6263 3998 Facsimile: (02) 6263 4352
Date last modified 26 July 2012
Title Native Title — Tax treatment of native title benefits
Description of issue The proposed measure clarifies that native title benefits, provided under the Native Title Act 1993, or under an agreement made under an Australian law to the extent that the payment or benefit relates to native title, will not be subject to income tax (which includes capital gains tax).
Consultation opportunities A consultation paper, Native Title, Indigenous Economic Development and Tax, was released in May 2010. Consultation on the draft legislation will be undertaken in August 2012.
Expected timetable Legislation is expected to be introduced in the Spring A sitting of Parliament in 2012.
Contact details Hector Thompson Manager Corporate Tax Unit Business Tax Division Telephone: (02) 6263 3998 Facsimile: (02) 6263 4352
Date last modified 26 July 2012
Title Tax losses of designated infrastructure projects
Description of issue The measure will uplift project losses associated with designated infrastructure projects at the government bond rate and exempt those losses from the continuity of ownership test and the same business test.
Consultation opportunities Exposure draft legislation is expected in the second half of 2012.
Expected timetable Legislation is expected to be introduced in late 2012.
Contact details Hector Thompson Manager Corporate Tax Unit Business Tax Division Telephone: (02) 6263 3998 Facsimile: (02) 6263 4352
Date last modified 26 July 2012
Title Film tax offsets — definition of 'documentary'
Description of issue The provisions of ITAA 1997 operating the Producer Offset will be amended to introduce a definition of 'documentary' and related terms.
Consultation opportunities There will be consultation on the exposure draft of the legislation and accompanying material.
Expected timetable Legislation is expected to be introduced in the Spring A sitting of Parliament in 2012.
Contact details Hector Thompson Manager Corporate Tax Unit Business Tax Division Telephone: (02) 6263 3998 Facsimile: (02) 6263 4352
Date last modified 26 July 2012
Title R&D tax incentive: quarterly credits
Description of issue Small and medium sized companies entitled to the R&D refundable tax offset would have the option of obtaining the benefit of the offset on a quarterly basis, commencing from 1 January 2014.
Consultation opportunities A consultation paper will be released on the Government's proposed arrangements for the measure. Consultation on the draft legislation is also proposed for later this year.
Expected timetable Legislation is expected to be introduced in the Spring A sitting of Parliament in 2012.
Contact details Hector Thompson Manager Corporate Tax Unit Business Tax Division Telephone: (02) 6263 3998 Facsimile: (02) 6263 4352
Date last modified 26 July 2012
Title Refining the company loss recoupment rules for companies with multiple classes of shares
Description of issue The measure will refine the company loss recoupment rules in the income tax law to recognise multiple classes of shares so that it will be easier for companies that have more than one class of shares to utilise prior year losses.
Consultation opportunities Exposure draft legislation was released on 4 September 2009. The closing date for submissions was 2 October 2009. Targeted consultation was undertaken on revised exposure draft legislation in September 2010.
Expected timetable Legislation is expected to be introduced in 2013.
Contact details Tony Regan Principal Adviser Business Tax Division Telephone: (02) 6263 3334 Facsimile: (02) 6263 4352
Date last modified 26 July 2012
Title Amendments to the taxation of financial arrangements — repurchase agreements, securities lending arrangements and short sales
Description of Issue On 29 June 2010 the Government announced it would amend the taxation of repurchase agreements, securities lending arrangements and short sales to ensure that the application of the tax law results in outcomes that are consistent with the economic and commercial substance of the transactions.
Consultation opportunities It is expected a discussion paper will be released for consultation by September 2012.
Expected timetable To be determined.
Contact details Nan Wang Manager Finance Tax Unit Business Tax Division Telephone: (02) 6263 2768 Email: Nan.Wang@treasury.gov.au
Date last modified 26 July 2012
Title Clarifying the definition of limited recourse debt
Description of issue In the 2012-13 Budget, the Government announced that it will amend the definition of limited recourse debt in the income tax law, to ensure that tax deductions are not available for capital expenditure on assets that have been financed by limited recourse debt, to the extent that the taxpayer is not effectively at risk for the expenditure and does not make an economic loss. The proposed measure will affect the financing of projects where the borrower is a special purpose entity that has minimal or no other assets or income from other sources apart from the project assets.
Consultation opportunities A consultation paper on the design of this proposal was released on 16 July 2012. The closing date for submissions is 10 August 2012.
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Teresa Bostle Senior Advisor Finance Tax Unit Business Tax Division Telephone: (02) 6263 3005 Email:

teresa.bostle@treasury.gov.au
Date last modified 26 July 2012
Title Bad Debts — Ensuring consistent treatment in related party financing arrangements
Description of issue As part of the 2012-13 Budget, the Government announced it will ensure a more consistent tax treatment for bad debts between related parties that are not members of a tax consolidated group. The measure will deny the creditor a tax deduction for a bad debt written off, where the debtor is a re lated party. In addition, the corresponding gain to the debtor will be disregarded. It is intended that the measure will introduce better symmetry between the tax treatments of the creditor and the borrower where they are related parties.
Consultation opportunities A consultation paper on the design of this proposal was released on 16 July 2012. The closing date for submissions is 10 August 2012.
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Teresa Bostle Senior Advisor Finance Tax Unit Business Tax Division Telephone: (02) 6263 3005 Email:

teresa.bostle@treasury.gov.au
Date last modified 26 July 2012
Title Debt Equity Rules — Treatment of tier 2 capital instruments under Basel III capital reforms
Description of issue In the 2012-13 Budget, the Government announced that it will amend the income tax legislation in light of the Australian Prudential Regulation Authority's adoption of the Basel III capital reforms. It will ensure that on commencement of the Basel III capital reforms on 1 January 2013, certain capital instruments issued by authorised deposit taking institutions will not be precluded from being treated as debt for income tax purposes.
Consultation opportunities A consultation paper on the design of this proposal was released on 16 July 2012. The closing date for submissions is 10 August 2012.
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Teresa Bostle Senior Advisor Finance Tax Unit Business Tax Division Telephone: (02) 6263 3005 Email:

teresa.bostle@treasury.gov.au
Date last modified 26 July 2012
Title All of the outstanding announced Forex amendments
Description of issue To extend the scope of a number of compliance cost saving measures and to ensure that the foreign currency provisions operate as intended, as announced in the Treasurer's Media Release No. 54 of 13 May 2008, and additional amendments identified through consultation and further analysis), and the former Minister for Revenue and Assistant Treasurer's, Media Release No. 2 of 5 August 2004.
Consultation opportunities It is expected that the exposure draft for these amendments will be released in late 2012.
Expected timetable It is expected that the exposure draft for these amendments will be released in late 2012.
Contact details Lee-Anne Sim Analyst Finance Tax Unit Business Tax Division Telephone: (02) 6263 2849 Email: Lee-Anne.Sim@treasury.gov.au
Date last modified 26 July 2012
Title Increase final withholding tax rate for managed investment trusts
Description of issue Clean managed investment trust final withholding tax rate concession.

Link to announcement
Consultation opportunities The Government will consult on the measure and will release an exposure draft of the proposed amendments.
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Amanda Zanardo Manager International Tax Base Unit International Tax and Treaties Division Telephone: (02) 6263 2854 Facsimile: (02) 6263 2724
Date last modified 27 July 2012
Title Removal of the CGT discount for non-residents
Description of issue Removal of the 50 per cent CGT discount for non-residents on capital gains accrued after 7.30pm (AEST) on 8 May 2012.

Link to announcement
Consultation opportunities The Government will consult on the measure and will release an exposure draft of the proposed amendments.
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Amanda Zanardo Manager International Tax Base Unit International Tax and Treaties Division Telephone: (02) 6263 2854 Facsimile: (02) 6263 2724
Date last modified 27 July 2012
Title Consolidate the dependency offsets into one
Description of issue On 8 May 2012, the Government announced that it would consolidate eight existing dependency offset into a single offset that is only available to taxpayers who maintain a dependant who is genuinely unable to work due to carer obligations or invalidity. The amendments will apply for the 2012-13 and future income years.
Consultation opportunities tba
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details André Moore Manager Individuals Tax Unit Personal and Retirement Income Division Telephone: (02) 6263 3067 Email: Andre.moore@treasury.gov.au
Date last modified 27 July 2012
Title Means test the net medical expenses tax offset
Description of issue On 8 May 2012, the Government announced that it would better target expenditure on the net medical expenses tax offset by means testing the threshold above which a taxpayer may claim the offset and the rate of reimbursement from 1 July 2012.
Consultation opportunities tba
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details André Moore Manager Individuals Tax Unit Personal and Retirement Income Division Telephone: (02) 6263 3067 Email: Andre.Moore@treasury.gov.au
Date last modified 27 July 2012
Title Phase out the mature age worker tax offset
Description of issue On 8 May 2012, the Government announced that it would phase out the mature age worker tax offset from 1 July 2012 for taxpayers born on or after 1 July 1957.
Consultation opportunities Public consultation on exposure legislation and explanatory material began on 20 July 2012 and will close on 17 August 2012.

Changes to phase out the mature age worker tax offset on the Treasury website
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details André Moore Manager Individuals Tax Unit Personal and Retirement Income Division Telephone: (02) 6263 3067 Email: Andre.Moore@treasury.gov.au
Date last modified 27 July 2012
Title Introducing a statutory definition of charity
Description of issue Introduce a statutory definition of charity applicable across all Commonwealth agencies to clarify what clarifies as a 'charity' and as a 'charitable purpose'. The Government will consult with the states and territories to achieve greater harmonisation of definitions across jurisdictions.
Consultation opportunities Details of public consultation undertaken is at

public consultation -Not-for-Profit
Expected timetable Legislation is expected to commence on 1 July 2013.
Contact details Sue Piper Manager Charities Unit Indirect, Philanthropy and Resource Tax Division Telephone: (02) 6263 4310 Facsimile: (02) 6263 4320
Date last modified 27 July 2012
Title Reduced input tax credits for credit unions
Description of issue On 8 May 2012, the Government announced that it would amend the GST law to restore access to a reduced input tax credit for credit unions who rebrand as banks but do not change their corporate structure.
Consultation opportunities Public consultation on an exposure draft regulation was undertaken between 13 and 27 June 2012.
Expected timetable To be considered by the Federal Executive Council mid-late 2012.
Date of effect 1 July 2011 (once registered)
Contact details Rob Dalla Costa Senior Adviser Indirect, Philanthropy and Resource Tax Division Telephone: (02) 6263 3328 Facsimile: (02) 6263 4320
Date last modified 26 July 2012
Title GST — Instalments for net refund taxpayers
Description of issue Extends access to the GST instalment system for those small businesses that are currently using the instalment system and subsequently move into a net refund position (that is they are entitled to more input tax credits than required to pay GST).
Consultation opportunities Public consultation on a discussion paper was undertaken between 7 June and 6 July 2011.
Expected timetable It is expected that this measure will be introduced into Parliament in the Spring 2012 Sittings.
Contact details Laurene Edsor Senior Adviser GST Unit Indirect, Philanthropy and Resource Tax Division Telephone: (02) 6263 4351 Facsimile: (02) 6263 4320
Date last modified 26 July 2012
Title GST — Cross-border transport amendments
Description of issue The GST law will be amended to allow international transport businesses to effectively comply with the law as it relates to the international transport of goods into Australia.
Consultation opportunities Public consultation on a discussion paper will be undertaken mid to late 2012.
Expected timetable It is expected that this measure will be introduced into Parliament in the Autumn 2013 Sittings.
Contact details Rob Dalla Costa Senior Adviser Indirect, Philanthropy and Resource Tax Division Telephone: (02) 6263 3328 Facsimile: (02) 6263 4320
Date last modified 26 July 2012
Title GST Administration — grouping
Description of issue Simplify the membership rules for GST groups, allow certain holding entities to group and make minor technical amendments.
Consultation opportunities Public consultation on exposure draft legislation was undertaken in early 2012.
Expected timetable It is expected that this measure will be introduced into Parliament in Autumn 2013.
Date of effect First quarterly tax period after Royal Assent
Contact details Michael Harms Manager GST Unit Indirect, Philanthropy and Resource Tax Division Telephone: (02) 6263 3308 Michael.Harms@treasury.gov.au
Date last modified 26 July 2012
Title GST — Cross-border transactions
Description of issue The GST law will be amended to implement a number of the recommendations of the Board of Taxation's 'Review of the Application of GST to Cross-Border Transactions'. In the 2012-13 Budget the Government announced that this package would take effect from the first quarterly tax period following Royal Assent of the enabling legislation.
Consultation opportunities Public consultation on exposure draft legislation will be undertaken in late 2012.
Expected timetable It is expected that this measure will be introduced into Parliament in Autumn 2013.
Contact details Rob Dalla Costa Senior Adviser Indirect, Philanthropy and Resource Tax Division Telephone: (02) 6263 3328 Facsimile: (02) 6263 4320
Date last modified 27 July 2012
Title GST — clarifying the restriction on GST refunds
Description of issue The tax law will be amended to implement Recommendation 45 of the Board of Taxation in its Review of the Legal Framework for the Administration of the GST. In the 2009-10 Budget, the Government announced that it will amend the law to clarify that the Commissioner has a discretion to refund the GST where appropriate.
Consultation opportunities Public consultation on exposure draft legislation will be undertaken in late 2012.
Expected timetable It is expected that this measure will be introduced into Parliament in Autumn 2013.
Contact details Michael Harms Manager GST Unit Indirect, Philanthropy and Resource Tax Division Telephone: (02) 6263 3308 Michael.Harms@treasury.gov.au
Date last modified 27 July 2012
Title GST — margin scheme and subdivided land
Description of issue In the 2010-11 Budget, the Government announced that it would amend the GST law to clarify the operation of the GST margin scheme, including a technical amendment to the provision dealing with subdivided land. This was in response to a Treasury review of the margin scheme, following recommendations by the Board of Taxation in its Review of the Legal Framework for the Administration of the GST.
Consultation opportunities Public consultation on exposure draft legislation will be undertaken in late 2012.
Expected timetable It is expected that this measure will be introduced into Parliament in Spring 2012.
Date of effect First quarterly tax period after Royal Assent.
Contact details Rob Dalla Costa Senior Adviser Indirect, Philanthropy and Resource Tax Division Telephone: (02) 6263 3328 Facsimile: (02) 6263 4320
Date last modified 27 July 2012
Title Amend the PRRT regulations to apply to onshore gas to liquid operations and the North West Shelf
Description of issue The Petroleum Resource Rent Tax (PRRT) was extended to onshore petroleum projects from 1 July 2012 as part of the Government's resource tax reforms. In February 2011, the Government agreed the recommendations of the Policy Transition Group in relation to the details of the resource tax reforms. Those recommendations included that the PRRT regulations be amended to ensure they apply appropriately to GTL operations onshore, as well as the North West Shelf
Consultation opportunities tba
Expected timetable It is expected that this measure will be introduced into Parliament in the third quarter 2012.
Contact details James O'Toole Manager Resource Tax Unit Indirect, Philanthropy and Resource Tax Division Telephone: (02) 6263 3112 Email: James.O'Toole@treasury.gov.au
Date last modified 26 July 2012
Title Regulation of financial advisers providing tax advice
Description of issue The Government is considering how to bring financial advisers, who provide taxation advice as part of financial product advice for a fee or other reward, into the Tax Agent Services regime from 1 July 2013.
Consultation opportunities Not yet determined.
Expected timetable Late 2012
Contact details Leslie Macdonald Manager Tax Administration Policy Unit Tax System Division Telephone: (02) 6263 4317 Facsimile: (02) 6263 4326
Date last modified 27 July 2012
Title Miscellaneous amendments to the taxation laws as part of the Government's commitment to uphold the integrity of the taxation system
Description of issue Amendments to the taxation laws made to correct technical or drafting defects remove anomalies and correct unintended outcomes in the tax legislation.
Consultation opportunities Consultation on draft legislation likely to occur in during July/August 2012.
Expected timetable It is expected that this measure will be introduced into Parliament in 2012.
Contact details Leslie Macdonald Manager Tax Administration Policy Unit Tax System Division Telephone: (02) 6263 4317 Facsimile: (02) 6263 4326
Date last modified 26 July 2012