ARTICLE · 29 JUNE 2009

Senate Select Committee Report On Section 23AG Released – Only 2 Minor Recommendations Made!

Moore Australia

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On Monday 22 June 2009 the Senate Select Committee report on section 23AG was released. The purpose of the changes was to remove the general exemption that applied to foreign income and only apply it for certain aid or charitable or government employees.

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Michael Van Schaik

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On Monday 22 June 2009 the Senate Select Committee report on section 23AG was released.

The purpose of the changes was to remove the general exemption that applied to foreign income and only apply it for certain aid or charitable or government employees.

In response to submissions made to Treasury, including one by Moore Stephens ( http://moorestephensresources.com.au/articles/184/1/Section-23AG-changes---submission-to-treasurer/Page1.html), there were 3 amendments made to the original legislation –

a new paragraph 26(1AA)(c) was inserted to ensure that employees of recognised organisations that undertake aid or charitable activities, that do not form part of Australian 'official development assistance', are eligible for exemption;

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