Proposed Tax Law Amendments

The Government has introduced a Bill into Parliament seeking to:

1. ensure a representative of an incapacitated entity will be responsible for the GST consequences that arise during their appointment;
2. address a number of PAYG issues arising from the introduction of the taxation of financial arrangements;
3. ensure payments made under the Helping Children with Autism package are exempt from income tax;
4. exempt payments made under the Continence Aids Payment Scheme from income tax;
5. exempt debts issued in Australia by the Commonwealth from interest withholding tax; and
6. provide the Victorian Bushfire Appeal Fund Independent Advisory Panel with greater scope to support communities and individuals affected by the 2009 Victorian bushfires.