Tax News Update    Email this document    Print this document  

September 6, 2016
2016-1493

Australia introduces tax bills on corporate tax cuts, small business relief, personal income tax bracket creep, budget repair, and implementation of new German DTA

The first Spring sitting week of Australia's 45th Parliament has seen the introduction of five tax related bills, which if enacted, will implement company tax rate reductions, relief for unincorporated small business, address personal income tax bracket creep, pave the way for entry into force of the new German/Australia tax treaty plus various budget repair measures. The Government's early focus on introducing these tax related measures is an important step in managing the considerable backlog of tax measures that continue to be a burden on business and taxpayers more broadly.

A Tax Alert prepared by Ernst & Young Australia, and attached below, provides additional details.

———————————————
ATTACHMENT

Full text of Tax Alert 2016-1493

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2024, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement