On 3 March 2023, the Senate Economics Committee released its report on the Treasury Laws Amendment (2022 Measures No 4) Bill 2022 which included legislative amendments affecting Military Superannuation Schemes Invalidity Benefit Taxation.
Today The Hon Matt Keogh MP, the Minister for Veterans’ Affairs and Defence Personnel announced the commencement of public consultation on a Pathway to simplify…
The Treasury Laws Amendment (2022 Measures No. 4) Bill 2022 includes proposed changes to how some veteran superannuation invalidity benefits are taxed, following the Douglas decision. DFWA made a submission to the Senate Economics Legislation Committee regarding the proposed amendments.
Camaraderie Vol 53, No 3 available to view or download online.
On 25 July 2022, Treasury called for submissions on the draft exposure of the Treasury Laws Amendment (Measures for a later sitting) Bill 2022: Taxation…
On 25 October 2022, the Treasurer handed down the 2022-23 Final Budget Measures. Here is a summary of the key veteran related measures.
In this edition: Royal Commission Interim Report • Veteran Superannuation Invalidity Benefit Taxation • Defence Community Dogs Assistance Program • Mixing up Date of Onset and Date of Diagnosis – The Boys Case Update • Royal Commission Hearings
Now is not the time to introduce legislation which entrenches different treatment and leaves some disabled veterans paying more tax on their invalidity benefits than others. The draft Treasury Laws Amendment Bill 2022: Taxation of Military Superannuation Benefits embeds different tax treatment regimes for veterans depending on when they started receiving payments and the scheme.
In this edition: Non-Liability Health Care for Reservists • Federal Election • CPI Indexation • Book Giveaway • Draft Legislation – Veteran Superannuation Invalidity Benefit Taxation • Census Data • Latest Camaraderie • Exploring the Concept of the Veteran as a Sovereign Asset • Royal Commission Update
The Government is introducing legislation to “ensure no veteran pays higher income tax because of the Federal Court decision in Commissioner of Taxation v Douglas. A draft bill, Treasury Laws Amendment Bill 2022: Taxation of military superannuation benefits and associated draft explanatory material, have been released for public consultation.