legislation

10 key principles when interpreting contractual documents

The ATO has released on its legal database a series of what until recently have been internal ATO documents. The release of these documents in an initiative that the ATO has labelled “iNOW!” (a contraction of “interpretation now”) and is, according to assistant commissioner Gordon Brysland, “a reinvention initiative to drive awareness on what is

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Overview of superannuation system changes for SMSFs

The changes to the super system, announced by the government in the 2016–17 federal budget, have now been passed by Parliament. Overview of superannuation system changes for SMSFs. As reflected in the name of the legislation, the Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016, these changes were designed to improve the sustainability and

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A super legislative tsunami is heading our way

A super legislative tsunami is on its way The bills proposing changes to the superannuation system were introduced into Parliament last week, on November 9. The Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016 (you can read the details here) contains the vast majority of the changes to the regulation and taxation treatment of

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Modernising the ATO’s existing public rulings

The ATO has produced a large number of public rulings over many years. Although most are current, many have not been updated in a very long time. To address this situation it has announced a program of modernisation of its database of rulings under its new “advice under development” program. This initiative allows practitioners to

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