Coronavirus (COVID-19) updates from the Australian Government

Taxation

It is the role of the Treasury to provide advice on effective tax and retirement income arrangements that contribute to the overall fiscal outcome, influence strong sustainable economic growth for the good of the Australian people. The Treasury is responsible for assessing and advising on the general design of the tax system and its components, and retirement income policy, in relation to economic efficiency, equity, income distribution, budgetary requirements and economic feasibility.

Consultations

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Open
Recommendation 7.1 of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Royal Commission) recommended that the three principal recommendations…
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Open
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.…
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Closed
The attached exposure draft Bill and Regulations, and supporting explanatory materials cover proposed minor and technical amendments to the Treasury portfolio laws. The community’s views are sought…