NTLG minutes, March 2009

Summary of action items

NTLG0903/01	The Tax Office agreed to review the wording in future alerts to provide greater clarity about the arrangements covered, and to adopt the words 'arrangements with features substantially equivalent to the following'. Refer agenda item 7- Taxpayer Alerts.
NTLG0903/02	A workshop is to be arranged to progress the draft PS LA or appropriate guidance product in respect of Division 7A issues. Refer agenda item 8 - Division 7A issues.
NTLG0903/03	A workshop is to be arranged to consider the issues raised in the discussion and areas of potential guidance associated with unpaid present entitlements. Refer agenda item 10 - Unpaid present entitlements.
NTLG0903/04	Practical guidance is to be provided by the Tax Office on the tax treatment of bonus shares. Refer agenda item 13 - Tax treatment of companies offering bonus share plans to conserve cash.
NTLG0811/06 (updated 27.03.09)	A revised paper on Division 6, including the identification of practices and arrangements which are unacceptable, will be distributed to the professional bodies for comment prior to finalisation. Refer agenda item 16 - Trust practice statement.
NTLG0903/05	NTLG members will be advised of the progress of the draft ruling TR 2007/D10. Refer agenda item 17 - CGT consequences of earnout arrangements.
NTLG0903/06	The Tax Office will consider the feasibility of producing a CD for tax agents, containing references used in tax time products. Refer agenda item 19 - TaxPack 2009.
NTLG0903/07	Information to assist with determining which amendment period for individuals or STS taxpayers is applicable will be published to the website. Refer agenda item 23 - Amendment period for individuals or STS taxpayers.
NTLG0903/08	A guidance product for the treatment of FBT and donations will be considered. Refer agenda item 25 - Other business: FBT and donations.