Omnibus tax bill introduced
The Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Bill was introduced to Parliament today. The principal proposals in the bill address tax impediments to R&D innovation, and clarify the GST rules for bodies corporate. The bill also proposes a suite of measures to ensure the tax system is well maintained and that the tax and social policy rules operate as intended. For more information see the bill and its commentary, and the regulatory impact statements.