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The legislation setting up the government's three waters entities has been delayed to give the working group time to recommend changes to governance and accountability.
The upcoming Retirement Income Covenant will no longer be applied to trustees of self-managed super funds after a change to legislation.
Source: Australia Government Ministerial Statements The Government has today released draft legislation to implement the reforms to regulatory and tax arrangements for employee share schemes (ESS). The reforms make it easier for businesses to offer ESS and will support Australian businesses to attract and retain the talent they need to compete on the global stage. The tax reforms, announced in the 2021‑22 Budget, will remove the cessation of employment taxing point for the tax‑deferred ESS that are available for all companies. Tax will be deferred until the earliest of the remaining taxin...
Date Time Share Australian Treasury The Government has today released draft legislation to give effect to two measures announced in the 2020‑21 Budget. On 5 October 2020, the Government announced a targeted capital gains tax (CGT) exemption for granny flat arrangements where there is a formal written agreement in place. Tax consequences can be a key impediment to families creating formal and legally enforceable granny flat arrangements. When faced with a potentially significant CGT liability, families may opt for informal arrangements which can leave open the risk of financial abuse and ex...
In the media Change management crucial for local government sector in 2021 In 2021, it will be essential that councils prioritise broadening the digital tool kit and ways in which they engage with citizens, mobilise their field workers with cloud-based technologies that enable them to work from anywhere at any time, and reduce costs to service (14 January 2021). More... NSW Audit finds gaps in procurement compliance An audit of NSW councils has found gaps in procurement management that potentially put them at risk of fraud, waste and corruption. The Auditor General's report, Procurement Man...