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Exposure Draft - Removal Of Income Tax Impediments Affecting Special Disability Trusts

Date:

Sunday, 31 July 2011

Content ID:

2089

Abstract:

On 10 May 2011, the Assistant Treasurer, the Hon Bill Shorten MP and the Parliamentary Secretary for Disabilities and Carers, Senator Jan McLucas, jointly announced that the Government will introduce legislation to remove further income tax barriers that impede families from making financial contributions to a Special Disability Trust (SDT).

  • This was an extension of the relief announced in the 2009-10 Budget that extended the capital gains tax main residence exemption to SDTs.

Following public consultation on the policy design of these changes, the Assistant Treasurer and the Parliamentary Secretary for Disabilities and Carers jointly announced the release of an exposure draft of legislation and a draft explanatory memorandum for public consultation on these two measures.

Making a submission

Interested parties are invited to comment on the exposure draft package. While submissions may be lodged electronically, by post or by facsimile, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Friday, 12 August 2011

Address written submissions to:
The General Manager
Business Tax Division
The Treasury
Langton Crescent
PARKES ACT 2600

Fax: (02) 6263 4352

For enquiries, please call Paul McMahon (02) 6263 3385.

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Explanatory Memorandum  109.70kb
Legislation  32.80kb
Consultation Summary  31.92kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Explanatory Memorandum  676.96kb
Legislation  2,227.07kb
Consultation Summary  870.63kb

Related Items:

Consultation - Removal of Income Tax Impediments Affecting Special Disability Trusts - 10/05/2011
The abstract for this content item contains formatting that cannot be displayed in this list. Please follow the hyperlink to the item for more detail.
Greater Fairness and Equity in the Taxation of Special Disability Trusts - 4/08/2009
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Submissions: Exposure Draft - Removal Of Income Tax Impediments Affecting Special Disability Trusts - 23/08/2011

Treasury has received three submissions in response to its consultation on the draft legislation "Removal Of Income Tax Impediments Affecting Special Disability Trusts". All of these are public submissions. The submissions are listed below and are accessible by selecting the author.

The opinions expressed in the submissions are those of the authors and do not necessarily reflect the views of the Government or the Treasury.

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