Media Releases

Delivering affordable and accessible financial advice

20 December 2013

The Assistant Treasurer, Senator the Hon Arthur Sinodinos, today announced reforms to the Future of Financial Advice (FOFA) legislation. "Consistent with the Coalition's election commitment to reduce compliance costs for small business, financial advisors and consumers who access financial advice, the Government will undertake a package of amendments to improve FOFA" said Senator Sinodinos. The […]

Appointment of second commissioner to the Australian Taxation Office

19 December 2013

The Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, today announced the appointment of Andrew Mills as a full-time Second Commissioner to the Australian Taxation Office (ATO) for a seven-year period. The ATO is the Government’s principal revenue collection agency.  Its role is to manage and shape tax, excise and superannuation systems that fund services […]

Deductible gift recipient status for Prince’s Charities Australia

17 December 2013

The Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, welcomes the announcement, in the Mid-Year Economic and Fiscal Outlook 2013-14, that Prince's Charities Australia will be able to accept tax deductible donations from 1 January 2014. "It is a welcome development that His Royal Highness, the Prince of Wales, has chosen to expand his very […]

Integrity restored to Australia’s taxation system

14 December 2013

PDF 198kb The Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, has today announced the outcome of consultations over the backlog of 92 announced but unlegislated tax and superannuation measures. This completes the process announced by the Treasurer and Assistant Treasurer last month, delivering certainty and reducing red tape for investors, small business and corporate […]

Labor wrong again on GST

5 December 2013

The Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, today accused the Labor Party of hypocrisy over the GST. “Labor made a series of misleading claims today regarding the Government making changes to the GST,” said Senator Sinodinos. The Opposition Leader, Bill Shorten, asserted in his Matter of Public Importance speech to the House of […]

Superannuation discussion paper released for comment

28 November 2013

Restoring stability and certainty to our superannuation system is a key aspect of the Government's agenda to build a strong and prosperous economy. Today the Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, released a discussion paper entitled 'Better regulation and governance, enhanced transparency and improved competition in superannuation' for public consultation to meet the […]

The Abbott Government’s red tape reduction target delivers almost $50 million in savings for Australia’s super industry

22 November 2013

The Assistant Treasurer, Senator the Hon Arthur Sinodinos AO today announced almost $50 million in savings each year for the superannuation industry as part of the Abbott Government’s initiatives to reduce unnecessary red tape and compliance by $1 billion per year. The use of the Standard Business Reporting’s (SBR) fully automated electronic service,  SuperTICK, is […]

Board of Taxation Review extended

8 November 2013

The Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, today announced that the Board of Taxation (the Board) will extend its review of Division 7A of Part III of the Income Tax Assessment Act 1936 to include the broader tax framework in which private business operates. “The Board’s examination of Division 7A highlights that complexities […]

Restoring integrity in the Australian tax system

6 November 2013

The Coalition is determined to provide stable and predictable Government. Soon after the Government was elected we were advised that 96 tax and superannuation announcements, with one dating back as far as March 2001, had not been legislated. Four of these have been dealt with as part of the carbon and mining tax repeal packages. […]

Declaring New South Wales bushfires a disaster for tax purposes

19 October 2013

The Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, today declared the October 2013 New South Wales bushfires a disaster for the purposes of establishing Australian disaster relief funds. “I am saddened by the widespread devastation, and by news of the death of a Central Coast man as a result of these bushfires,” said Senator Sinodinos. […]

Offshore Banking Unit: Deferral of start date

29 September 2013

The Assistant Treasurer, Senator Arthur Sinodinos AO, today announced that the Government would not proceed with the start date of 1 October 2013 for the reforms to the Offshore Banking Unit regime that were originally announced in the 2013-2014 Budget. The offshore banking unit regime provides a concessional 10 per cent tax rate to encourage […]