Federal Register of Legislation - Australian Government

Primary content

Regulations as made
These regulations amend the Taxation Administration Regulations 2017, Tax Agent Services Regulations 2009, and Income Tax Assessment Regulations 1997 to allow disclosure of taxpayer information to officers of the Black Economy Standing Taskforce and the Illicit Tobacco Taskforce, increase the application fees set out in the Tax Agent Services Regulations 2009, and update the list of approved stock exchanges in Schedule 5 of the Income Tax Assessment 1997 to remove references to stock exchanges that no longer exist and add references to stock exchanges produced from mergers or the renaming of stock exchanges that were previously listed.
Administered by: Treasury
Registered 22 Jun 2018
Tabling HistoryDate
Tabled HR25-Jun-2018
Tabled Senate26-Jun-2018
Date of repeal 24 Jun 2018
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

Commonwealth Coat of Arms of Australia

 

Treasury Laws Amendment (2018 Measures No. 1) Regulations 2018

I, General the Honourable Sir Peter Cosgrove AK MC (Ret’d), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 21 June 2018

Peter Cosgrove

Governor‑General

By His Excellency’s Command

Kelly O’Dwyer

Minister for Revenue and Financial Services

 

 

 

 

  

  


Contents

1............ Name............................................................................................................................. 1

2............ Commencement............................................................................................................. 1

3............ Authority....................................................................................................................... 1

4............ Schedules...................................................................................................................... 1

Schedule 1—Disclosure of information to the Black Economy Standing Taskforce and the Illicit Tobacco Taskforce                                                                                                                                 2

Taxation Administration Regulations 2017                                                                                     2

Schedule 2—Tax Practitioners Board funding                                                                              3

Tax Agent Services Regulations 2009                                                                                               3

Schedule 3—Approved Stock Exchanges                                                                                          5

Income Tax Assessment Regulations 1997                                                                                        5

 


1  Name

                   This instrument is the Treasury Laws Amendment (2018 Measures No. 1) Regulations 2018.

2  Commencement

             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this instrument

The day after this instrument is registered.

23 June 2018

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the following:

                     (a)  the Income Tax Assessment Act 1997;

                     (b)  the Tax Agent Services Act 2009;

                     (c)  the Taxation Administration Act 1953.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1Disclosure of information to the Black Economy Standing Taskforce and the Illicit Tobacco Taskforce

  

Taxation Administration Regulations 2017

1  Section 67 (at the end of the table)

Add:

8

Black Economy Standing Taskforce

9

Illicit Tobacco Taskforce

 

2  Before section 71

Insert:

Division 1Transitional matters relating to the repeal of the Taxation Administration Regulations 1976

3  In the appropriate position in Part 7

Insert:

Division 2Transitional matters relating to the Treasury Laws Amendment (2018 Measures No. 1) Regulations 2018

73  Disclosure of information to the Black Economy Standing Taskforce and the Illicit Tobacco Taskforce

                   The amendment of section 67 of this instrument made by Schedule 1 to the Treasury Laws Amendment (2018 Measures No. 1) Regulations 2018 applies in relation to disclosures of information made on or after the commencement of that Schedule (whether the information was obtained before, on or after that commencement).

Schedule 2Tax Practitioners Board funding

  

Tax Agent Services Regulations 2009

1  Regulation 9

Repeal the regulation, substitute:

9  Application for registration—processing fees

             (1)  For the purposes of paragraph 20‑20(2)(b) of the Act, the fee for an application to the Board for registration is set out in the following table.

Note:          The period of registration is for at least 3 years: see subsection 20‑25(4) of the Act. Registration may be renewed with effect from when current registration expires: see section 20‑50 of the Act.

 

Item

For an application for this type of registration …

the fee is …

1

registration as a tax agent

$675 (subject to indexation under subregulation (2))

2

registration as a BAS agent

$135 (subject to indexation under subregulation (2))

3

registration as a tax (financial) adviser

$540 (subject to indexation under subregulation (2))

Annual indexation of fees

             (2)  On 1 July 2019 and each 1 July following that day (an indexation day), the dollar amount mentioned in an item of the table in subregulation (1) is replaced by the amount worked out using the following formula:

                  

             (3)  The indexation factor for an indexation day is the number worked out using the following formula:

                  

where:

index number, for a quarter, means the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) first published by the Australian Statistician for the quarter.

quarter means a period of 3 months ending on 31 March, 30 June, 30 September or 31 December.

             (4)  An indexation factor is to be calculated to 3 decimal places (rounding up if the fourth decimal place is 5 or more).

             (5)  If an indexation factor worked out under subregulations (3) and (4) would be less than 1, that indexation factor is to be increased to 1.

             (6)  Amounts worked out under subregulation (2) are to be rounded to the nearest whole dollar (rounding 50 cents upwards).

2  After Part 5

Insert:

Part 6Application and transitional provisions

Division 1Amendments made by the Treasury Laws Amendment (2018 Measures No. 1) Regulations 2018

14  Application—changes to application fees for registration

                   The amendment of regulation 9 made by Schedule 2 to the Treasury Laws Amendment (2018 Measures No. 1) Regulations 2018 applies in relation to applications for registration, including renewal of registration, made on or after 1 July 2018.

Schedule 3Approved Stock Exchanges

  

Income Tax Assessment Regulations 1997

1  Schedule 5

Repeal the Schedule, substitute:

Schedule 5Approved Stock Exchanges

Note:       See regulation 995‑1.05.

 

 

Approved Stock Exchanges

Argentina

Buenos Aires Stock Exchange

Australia

ASX, also known as Australian Securities Exchange

Chi‑X

IR Plus Securities Exchange

National Stock Exchange of Australia

SSX, also known as Sydney Stock Exchange

Austria

Vienna Stock Exchange

Belgium

Euronext Brussels

Bermuda

Bermuda Stock Exchange

Brazil

B3, also known as BM&F Bovespa

Canada

Montréal Stock Exchange

Toronto Stock Exchange

TSX Venture Exchange

Chile

Santiago Stock Exchange

Valparaiso Stock Exchange

China

Shanghai Stock Exchange

Shenzhen Stock Exchange

Colombia

Colombia Stock Exchange

Denmark

Nasdaq Copenhagen

Finland

Nasdaq Helsinki

France

Euronext Paris

Germany

Berlin Stock Exchange

Dusseldorf Stock Exchange

Frankfurt Stock Exchange

Hamburg Stock Exchange

Hannover Stock Exchange

Munich Stock Exchange

Stuttgart Stock Exchange

Greece

ATHEX, also known as Athens Exchange

Hong Kong

Hong Kong Stock Exchange

Hungary

Budapest Stock Exchange

India

Bombay Stock Exchange

Calcutta Stock Exchange

Indonesia

Indonesia Stock Exchange

Ireland

Euronext Dublin

Israel

Tel Aviv Stock Exchange

Italy

Borsa Italiana, also known as Italian Stock Exchange

Jamaica

Jamaica Stock Exchange

Japan

Fukuoka Stock Exchange

Nagoya Stock Exchange

Osaka Securities Exchange

Sapporo Securities Exchange

Tokyo Stock Exchange

Korea, Republic of

Korea Stock Exchange

Luxembourg

Luxembourg Stock Exchange

Malaysia

Bursa Malaysia

Mexico

Mexican Stock Exchange

Netherlands

Euronext Amsterdam

New Zealand

NZX, also known as New Zealand’s Exchange

Nigeria

Nigerian Stock Exchange

Norway

Oslo Stock Exchange

Pakistan

Pakistan Stock Exchange, also known as PSX

Peru

Lima Stock Exchange

Philippines

Philippine Stock Exchange

Poland

Warsaw Stock Exchange

Portugal

Euronext Lisbon

Serbia

Belgrade Stock Exchange

Singapore

Singapore Exchange

Slovakia

Bratislava Stock Exchange

Slovenia

Ljubljana Stock Exchange

South Africa

Johannesburg Stock Exchange

Spain

Barcelona Stock Exchange

Bilbao Stock Exchange

Madrid Stock Exchange

Valencia Stock Exchange

Sri Lanka

Colombo Stock Exchange

Sweden

Nasdaq Stockholm

Switzerland

SIX Swiss Exchange

Taiwan

Taiwan Stock Exchange

Thailand

Stock Exchange of Thailand

Trinidad and Tobago

Trinidad and Tobago Stock Exchange

Turkey

Borsa Istanbul, also known as Istanbul Stock Exchange

United Kingdom

London Stock Exchange

United States

Chicago Stock Exchange

NASDAQ OMX BX

NASDAQ PHLX

NASDAQ Stock Exchange

NYSE, also known as New York Stock Exchange

NYSE American

NYSE American Options

NYSE ARCA equities

NYSE ARCA options

NYSE National

Uruguay

Montevideo Stock Exchange

Venezuela

Caracas Stock Exchange

Zimbabwe

Zimbabwe Stock Exchange