SME minutes, May 2010

13. Other business

Institute of Chartered Accountants Australia (ICAA) request
One of the members agreed to report back to the ICAA on any matters arising out of the working group meetings that impacted on the ICAA - Brian Lane will report back on issues of concern for ICAA.

Internationals sub group
Members were advised that a meeting of the sub group would be organised for August 2010.

Those who have previously expressed interests in being a part of this sub group will be contacted by the secretariat.

OVDI webinar
Members commented favourably on the March webinar.
Some members remarked that they had brought the OVDI project to the attention of their clients.

Outcome

The chair thanked members for their input and discussion on the agenda items. The meeting closed at 4.30pm.

Sections within Agenda items

• 1. Introductions and welcome
• 2. Table and acceptance of previous minutes and action items
• 3. Update - Division 7A technical update
• 4. Consultation - Division 7A amendments - legislative amendments to tighten Division 7A and ensure it operates as intended
• 5. Discussion - SME Asset Betterment pilot
• 6. Update - current status of the change program
• 7. Briefing - Standard Business Reporting
• 8. Update - PSI and alienation of PSI project PSI/PSB - third party advice
• 9. Update - 'Wealthy Australians' information collection process
• 10. Discussion - pre-filling for business taxpayer's feasibility study
• 11. Consultation - new TFN withholding tax regime for trusts
• 12. Update - capital gains tax earnouts draft ruling
• 13. Other business