Treasury provides advice to the Government on effective government spending and taxation arrangements. This includes advice on budget policy issues, trends in Commonwealth revenue and major fiscal and financial aggregates, major expenditure programs, taxation policy, retirement income, Commonwealth-State financial policy and actuarial services. Treasury also leads the production of the Commonwealth Budget each year.
In May 2021, the Government announced it will allow taxpayers to self-assess the tax effective lives of certain depreciating intangible assets, such as patents, copyrights and in-house software…
The Government has released exposure draft legislation to modernise business communications by improving the technology neutrality of Treasury portfolio laws. Building on the proposed reforms in the…
On 11 May 2021, the Australian Government announced that it will introduce a patent box for eligible corporate income associated with new patents in the medical and biotechnology sectors.…