Summary
Amends the: Income Tax Assessment Act 1997 to: reduce the methods for calculating work-related car expense deductions to include the logbook method and the cents per kilometre method; and provide for a single rate for the calculation of the cents per kilometre method to be determined by the Commissioner of Taxation; Income Tax Assessment Act 1936 to restrict the application of the Zone Tax Offset to people whose usual place of residence is within a zone or a prescribed area within a zone; Fringe Benefits Tax Assessment Act 1936 to limit the concessional treatment of salary packaged entertainment benefits; Taxation Administration Act 1953 to create a new reporting regime which requires third parties to report to the commissioner on certain transactions which could reasonably be expected to have tax consequences for other entities; and Fringe Benefits Tax Assessment Act 1986, Income Tax Assessment Act 1997, Tax Agent Services Act 2009 and Taxation Administration Act 1953 to make consequential amendments.