January Completed Abolition of the E/c July 2012 entrepreneurs’ tax offset. 2014 Published Better targeting of not-for-profit tax concessions. E/c July 2014a .. .. October Completed Expanding the definition of geothermal energy. E/c July 2012 2015 Published January Completed Fringe benefit tax: reform of the car fringe benefit rule. E/c May 2011 2014 Published September Completed Introducing a statutory definition of charity. E/c January 2014 2016 Published Minerals Resource Rent Tax adoption of the October Completed – E/c July 2012 recommendations of the Policy Transition Group. 2015 Published Small business depreciation accelerated initial October Completed – E/c July 2012 deduction for motor vehicles. 2015 Published Response to the Super System Government’s Review (Cooper Review) Completed E/c July 2013 March 2016 Published Australian initial response to the Super Government’s System (Cooper) Review. Title of regulatory proposal Reason for Implementation Date PIR PIR status PIR date Published Description of regulatory proposal Guarantee Scheme for Large Deposits and Wholesale Funding Appropriation Act 2008 October Completed Temporary emergency arrangement providing a October 2008 2012 Published guarantee for deposits over $1 million and wholesale debt in exchange for a fee. The initiative closed to new liabilities on 31 March 2010. Regulation of Litigation Funding Completed January 2013 March 2016 Clarifying that class actions are not managed Published investment schemes. Stronger Super Reforms Aspects of MySuper – The ability of funds to offer tailored MySuper products January Completed to employers with more than 500 employees, and E/c July 2013 2016 Published extension of the date by which trustees will be required to have transferred the balance of existing default funds into MySuper products. Taxation of Financial Arrangements Amendments – to Tax Hedging Rules Not .. .. implementedb Amendments to ensure rules operate as intended and provide clarification. Tax Laws Amendment (2009 Budget Measures No. 1) Bill 2009 Completed E/c July 2009 August 2013 Published Limits tax concessions for income earned by Australians working overseas. Tax Laws Amendment (2009 Budget Measures No. 2) Bill 2009 January Completed E/c July 2009 2014 Published No longer allowing offsetting deductions from activities for high income earners.
Abolition of the entrepreneurs’ tax offset. E/c July 2012 January 2014 Completed Published Better targeting of not-for-profit tax concessions. E/c July 2014a .. .. Expanding the definition of geothermal energy. E/c July 2012 October 2015 Completed Published Fringe benefit tax: reform of the car fringe benefit rule. E/c May 2011 January 2014 Completed Published Introducing a statutory definition of charity. E/c January 2014 September 2016 Completed Published Minerals Resource Rent Tax – adoption of the recommendations of the Policy Transition Group. E/c July 2012 October 2015 Completed Published Small business depreciation – accelerated initial deduction for motor vehicles. E/c July 2012 October 2015 Completed Published Government’s Response to the Super System Review (Cooper Review) Australian Government’s initial response to the Super System (Cooper) Review. E/c July 2013 March 2016 Completed Published Title of regulatory proposal Description of regulatory proposal Reason for PIR Implementation date Date PIR Published PIR status Guarantee Scheme for Large Deposits and Wholesale Funding Appropriation Act 2008 Temporary emergency arrangement providing a guarantee for deposits over $1 million and wholesale debt in exchange for a fee. The initiative closed to new liabilities on 31 March 2010. October 2008 October 2012 Completed Published Regulation of Litigation Funding Clarifying that class actions are not managed investment schemes. January 2013 March 2016 Completed Published Stronger Super Reforms – Aspects of MySuper The ability of funds to offer tailored MySuper products to employers with more than 500 employees, and extension of the date by which trustees will be required to have transferred the balance of existing default funds into MySuper products. E/c July 2013 January 2016 Completed Published Taxation of Financial Arrangements – Amendments to Tax Hedging Rules Amendments to ensure rules operate as intended and provide clarification. Not implementedb .. .. Tax Laws Amendment (2009 Budget Measures No. 1) Bill 2009 Limits tax concessions for income earned by Australians working overseas. E/c July 2009 August 2013 Completed Published Tax Laws Amendment (2009 Budget Measures No. 2) Bill 2009 No longer allowing offsetting deductions from activities for high income earners. E/c July 2009 January 2014 Completed Published
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