New payment options for land tax
Source: Queensland. Treasurer. Media Release.
"Treasurer Andrew Fraser said legislation introduced into parliament would rewrite Queensland’s land tax laws, including the implementation of new payment and capping arrangements. “Land tax is only paid by 0.5% of Queensland residents, and it can be very complicated when dealing with old legislation. It makes sense to make it a lot easier to understand, administer and comply with,” Mr Fraser said. “From the 2010-11 financial year, land taxpayers will be able to either pay their entire amount of tax 90 days after they are given their assessment or in three equal instalments at 45, 90 and then 150 days after assessment."

Corporate fine dodgers face crackdown
Source: Queensland. Premier. Media Release
"Fine dodging corporate fat cats will be targeted as part of the next stage of a State Government’s crackdown on fine evaders. Premier Anna Bligh said the new laws, to be introduced into Parliament later this year, will target corporations with unpaid fines.
“The new laws will authorise the State Penalties Enforcement Registry (SPER) to commence winding up action against corporations who have unpaid fine debt,” she said."

ATO surprise visits get tick of approval - Commonwealth Ombudsman
Source: Australia. Prime Minister and Cabinet. Media Release
"Commonwealth and Taxation Ombudsman Professor John McMillan today confirmed that the Australian Taxation Office (ATO ) had established appropriate procedures for exercising its coercive access without notice powers. This is the second Ombudsman investigation into the ATOs access without notice powers in the past 10 years and it confirms that taxpayers can feel confident that the ATO is exercising these powers in the manner in which it should.."

Changes to Queensland’s insurance duty legislation
Source: Queensland. Treasurer and Minister for Employment and Economic Development. Media Release
"The state government will legislate to close insurance duty liability loopholes for insurance taken out with overseas insurers. “Following a New South Wales Court of Appeal decision that saw a major company not have to pay insurance duty on contracts entered into with overseas-based insurers, the Queensland government will amend legislation to ensure that in future, duty is paid in similar circumstances,” Treasurer Andrew Fraser said. Contracts with Australian insurers attract the obligation and we will clarify the law to ensure liability cannot be escaped through using offshore insurers."

NEW INCENTIVES FOR RENEWABLE ENERGY
Source: SA. Premier. Media Release.
"Premier Mike Rann announced that the South Australian Government would be providing a
significant new incentive to attract more investment in renewable energy to the State.
“From 1 July 2010, investors in new large-scale renewable energy projects will receive a rebate of payroll tax paid for labour associated with direct, on-site construction of new renewable energy projects,” Premier Rann said."

Government Superannuation Reforms
Source: Australia. Minister for Finance and Deregulation.
The Minister for Finance and Deregulation, Lindsay Tanner announced further reforms to improve the administration arrangements of Australian Government superannuation schemes. Lindsay Tanner said: “Over the past two years, the Rudd Government has been reforming governance and administration of Government superannuation schemes to ensure they are best placed to deliver more sustainable and cost-effective services. This ongoing reform program includes several initiatives to streamline arrangements and practices without affecting member’s benefits or entitlements.” The Department of Finance and Deregulation, with specialist assistance provided by PricewaterhouseCoopers, completed a comprehensive review of the current administration arrangements relating to the main civilian and military schemes, including long-term IT requirements for administration of the schemes."

Bligh Government lifts tax burden on real estate trusts
Source: Queensland. Treasurer. Media Release
"In a bid to increase investment in Queensland, the Bligh Government will provide relief from duties paid to facilitate the restructure of stapled entities. Treasurer Andrew Fraser said the change would be of particular assistance to stapled Australian real estate investment trusts.
“This Government is about stimulating and attracting additional investment in Queensland,” Mr Fraser said. “Australian Real Estate Investment Trusts must compete for capital and product in international markets. “This will increase AREITs’ ability to compete in international markets for investment.” Stapled entities wishing to simplify their present structures and become more cost-effective will benefit from this change."

Cutting red tape for small business – superannuation clearing house service
Source: Australia. Minister for Human Services. Media Release
"The Minister for Superannuation, Chris Bowen MP, and Minister for Small Business, Craig Emerson MP, today announced that the Government will deliver its free superannuation clearing house service for small business through Medicare Australia."

New guidelines to ensure local firms get a fair go
Source: Australia. Dept Innovation, Industry, Science and Research
"The Australian Government is seeking comments on proposed new guidelines for import duty concession schemes to encourage a fair go for Australian industry and reduce costs for major projects, businesses and consumers. The proposed changes to the EPBS will encourage greater interaction between major project proponents and Australian businesses by ensuring clearer Australian Industry Participation Plans are in place up-front when projects are being designed."

New R&D Tax Credit: Consulting with stakeholders
Source: Australia. Minster for Innovation, Industry, Science and Research and the Treasurer
"Today the Rudd Government will begin consultation with key stakeholders on the detailed design features of the new R&D Tax Credit. Releasing the Research and Development Tax Incentive Consultation Paper, Treasurer Wayne Swan and Innovation Minister Kim Carr urged business and other stakeholders to make their voices heard on reforms to the scheme. Mr Swan said: "The new R&D Tax Credit is the biggest reform to business innovation support for more than a decade. It will boost investment, support jobs and strengthen Australian companies so they can take full advantage of new opportunities as the economy recovers. From 1 July 2010, the Government will replace the complex and outdated R&D Tax Concession with a simplified R&D Tax Credit which cuts red tape and provides a better incentive for all businesses to invest in research and innovation"

Queensland to adopt new uniform payroll tax rules
Source: Queensland. Treasurer
"The Queensland Government will join other states and territories in adopting new uniform rules regarding the payment of payroll tax. Queensland Treasurer Andrew Fraser today (29/06/2009) announced that Queensland would implement the new rules, which will apply to those employers that have staff who work in more than one jurisdiction in a month, such as in the airline industry."

Expert Panel and Terms of Reference for Review into the Governance, Efficiency and Structure and Operation of Australia's Superannuation System
Source: Australia. Minister for Superannuation and Corporate Law. Media Release
"Senator Nick Sherry, Minister for Superannuation and Corporate Law, has today announced the details of the Review into the governance, efficiency, structure and operation of Australia’s superannuation system including the membership of the Expert Panel and the Terms of Reference."

SMALL BUSINESS TAX BREAK BOOST
Australia. Treasurer. Minister for Innovation, Industry, Science and Research. Joint Media Release
"Small businesses will now be able to claim a bonus tax deduction of 50 per cent – up from 30 per cent previously of the cost of eligible assets acquired between 13 December 2008 and 31 December 2009, and installed by 31 December 2010."

Powering Ideas: an innovation agenda for the 21st century
Source: Australia. Dept of Innovation, Industry, Science and Research. Report
"The Government has outlined its innovation agenda for Australia over the next decade in Powering Ideas: An Innovation Agenda for the 21st Century, supported by a $3.1 billion boost in funding over the next four years.
The Budget package includes more support for world class university research, a Super Science Initiative focusing on national research strengths, a new Research and Development Tax Credit and other measures to boost business innovation."

Assistance for Self Funded Retirees
Source: Australia. Treasurer. Media Release
"From 1 July 2009, the Government will halve the minimum amounts self-funded retirees have to draw down from their account-based pensions for 2009-10."

R&D Tax Credit to Boost Business Investment
Source: Australia. Treasurer. Media Release
"The Rudd Government will simplify and enhance the Research and Development (R&D) Tax Concession so that it provides better incentives and more support for Australian jobs in the face of the global recession."

Australia's Future Tax System - The Retirement Income System: Report on Strategic Issues
Source: Australia. Treasury. Report
"The Government is pleased to launch the Australia's Future Tax System (AFTS) Report on the retirement income system prepared by the AFTS Review Panel.
This vital report accompanies historic measures in today's Budget to boost the level of the pension so that older Australians can live in dignity through their retirement."

Reform of Family Payments
Source: Australia. Treasurer. Media release
"In particular, the reforms will support low and middle income families with the cost of raising children and promote workforce participation and reward for effort. They will complement other key reforms in the tax and transfer systems, including increasing the Low Income Tax Offset."

Tax Rates Closely Aligned Across Victorian Gaming Machine Industry
Source: Victoria. Minister for Gaming. Media Release
"The Brumby Government announced a broad package of changes to Crown Casino’s licence conditions, including a progressive increase in the tax rate on the Casino’s gaming machines, reflecting the maturing of the business and virtually equalising gaming taxes for Crown and gaming venue operators. Gaming Minister Tony Robinson said the new agreement on the casino gaming machine tax rate would see the rate rise from 22.25 per cent to 32.57 per cent in 2014-15. “This reform will result in tax rates being virtually equal for Crown Casino and other gaming venues,” he said."

Treasurer foreshadows land tax concession in State Budget
Source: WA. Treasurer
"Treasurer Troy Buswell today foreshadowed the announcement of a land tax concession aimed at reducing property market volatility and bottlenecks in the approvals process, as part of the 2009-10 State Budget. The concession would allow developers to pay land tax and Metropolitan Region Improvement Tax on the lower undeveloped (or ‘englobo’) value of land holdings, rather than the full subdivided value of lots, for one year after the creation of the lots. "