The Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Bill introduced today proposes changes to clarify the tax treatment of allowances and other reimbursement payments paid by employers to employees, and employer-provided accommodation.
The bill also includes proposals to deal with distortions arising from the black hole tax treatment of certain items of expenditure, strengthens the thin capitalisation rules, reforms the income tax treatment of land-related lease payments, clarifies the tax treatment of agreements for the sale and purchase of property and services, introduces rules allowing people to comply with “foreign account information-sharing agreements” (such as a proposed intergovernmental agreement with the United States), and provides rules for charities that are removed from the Charities Register, and a limited exemption for some community housing providers.
For more information see the media statement, the bill, commentary on the bill and regulatory impact statements.
