Your Association at work - 01 July 2010 update

Taxpayers Australia represented its members at the following superannuation meetings on 15 June 2010 in Melbourne:

Superannuation Consultative Committee (SCC)
Discussions covered the superannuation issues and liaison on:

• the Budget, the Cooper Review and Australia's Future tax system
• Clearing House (Medicare Australia) (on target for 1 July 2010)
• update on legislation
• instalment warrants and illegal early release
• Commissioner's discretion and the 2010-11 Compliance Focus 

National Tax Liaison Group (NTLG)
Discussions covered a range of issues including:

• an update on recently published and withdrawn Tax Office guidance and legislation
• limited recourse borrowing arrangements for SMSFs
• related party acquisitions
• conversion of a geared to non geared unit trust and TR 2010/1. 
  

Taxpayers Australia represented its members at the following income tax meeting on 23 June 2010 in Canberra:

National Tax Liaison Group (NTLG)
Matters considered included:

• The Change Programme and Tax Time 2010
• The Decision Impact Statement issued in response to the decision of the High Court in the Bamford case
• Issuing of Taxpayer Alerts to provide early warning of matters of concern to the Tax Office
• Impending closure of the Offshore Voluntary Disclosure initiative, and
• The CGT treatment of earnout arrangements.