News in brief…6 December 2023

ATO advice and guidance; Legislation update: Thin capitalisation rules bill referred to Senate committee with amendments; Legislation update: Infrastructure Australia amendments bill passes Senate; Government releases response to Payment Times Reporting Act review; APRA consults on ADI capital framework minor updates; ATO update: What is the tax treatment of off-market share buy-backs?; Household spending growth continues to slow in October: ABS; Canada introduces legislation to implement DST and certain OECD and BEPS tax measure recommendations

ATO advice and guidance The Australian Taxation Office (ATO) released its latest advice and guidance on Wednesday 6 December, which includes a draft taxation determination, a taxation ruling, a practical compliance guideline, and two class rulings. Draft Taxation Determination TD 2023/D3 Income tax:  trustee risk reserves – deductibility of payments made by a superannuation fund to its trustee This draft Determination outlines the Commissioner’s view on the deductibility, under sec...

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Published Date: 06 December 2023