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Australian Income Tax Legislation 2017: Tax Year-End - 3 Volume Set eBook

CCH

$220.00 (inc GST)

This three-volume set provides a comprehensive consolidation of Australian income tax and related legislation, updated and consolidated for all amendments to 1 July 2017.

A complete and easy-to-read set, incorporating all relevant income tax and related legislation together with detailed history notes for all substantive amendments in the last six years, a legislation annotator, index and conversion tables between the 1997 and 1936 tax assessment Acts.

KEY FEATURES

Includes amendments to:

  • establish a remedial power for the Commissioner of Taxation to allow for a more timely resolution of certain unforeseen or unintended outcomes in the taxation laws; 
  • allow primary producers to access income tax averaging 10 income years after choosing to opt out, instead of that choice being permanent; 
  • impose a $1.6 million cap on the amount of capital that can be transferred to the tax-free earnings retirement phase of superannuation; 
  • introduce additional income tax rules on recipients of certain defined benefit income streams in excess of $100,000 per annum and reduce the threshold at which high-income earners pay Division 293 tax on their concessional taxed contribution to superannuation to $250,000; 
  • reduce the annual concessional contributions cap to $25,000 and the annual non-concessional contributions cap to $100,000; 
  • remove the anti-detriment deduction; 
  • remove the requirement that an individual must earn less than 10 per cent of their income to be able to claim a deduction for personal superannuation contributions; 
  • enable catch-up concessional contributions; 
  • extend the spouse superannuation tax offset and amend the earnings tax exemption for complying superannuation funds, retirement savings account providers and life insurance companies.

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