Summary
Amends the:
Taxation Administration Act 1953
to: require electronic platform operators to provide information on transactions to the Australian Taxation Office; enable small business entities to apply to the Administrative Appeals Tribunal (AAT) for an order staying, or otherwise affecting, the operation or implementation of decisions of the Commissioner of Taxation being reviewed by the AAT; and enable the commissioner to direct an entity to complete an approved recordkeeping course as an alternative to financial penalties where they reasonably believe the entity has failed to comply with its tax-related recordkeeping obligations;
Income Tax Assessment Act 1997
and
Taxation Administration Act 1953
to make consequential amendments;
Fringe Benefits Tax Assessment Act 1986
,
Income Tax Assessment Act 1936
and
Income Tax Assessment Act 1997
to remove the $250 non-deductible threshold for work-related self-education expenses; and
Income Tax Assessment Act 1997
to enable individuals aged 55 and above to make downsizer contributions to their superannuation plan from the proceeds of selling their main residence.