Department of the Treasury [2005] AUSStaCSDLM 146 (8 September 2005)

• DEPARTMENT OF THE TREASURY

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DEPARTMENT OF THE TREASURY

A New Tax System (Goods and Services Tax) Simplified Accounting Method Determination (No. 1) 2005 under s. 123-5(1) of the A New Tax System (Goods and Services Tax) Act 1999 [F2005L02513]
A New Tax System (Goods and Services Tax) Act 1999
Made	02/09/2005
Tabled	05/09/2005 S	05/09/2005 HR
Summary	Determines that eligible food retailers have the option of using a simplified GST accounting method to calculate entitlements to input tax credits for trading stock.

Amendment to Consumer Product Safety Standard: Sunglasses and Fashion Spectacles under s. 65E of the Trade Practices Act 1974 Consumer Protection Notice No. 4 of 2005 [F2005L02356]
Trade Practices Act 1974
Made	16/08/2005
Tabled	05/09/2005 S	05/09/2005 HR
Summary	Exempts glasses or goggles for special use, including medical shields designed for use by vision impaired persons, from compliance with the safety standard for sunglasses and fashion spectacles.

ASIC Class Order [CO 05/835] [F2005L02473]
Corporations Act 2001
Made	31/08/2005
Tabled	06/09/2005 S	06/09/2005 HR
Summary	Exempts issuers of financial products from the requirement to hold an Australian financial services licence where they provide general financial product advice in advertisements, and exempts licensed issuers providing general financial product advice on an offer of their securities in advertisements from the requirement to give a Financial Services Guide.

Banking (Exemption) Order No. 104 under ss. 11(1) and 11(4) of the Banking Act 1959 [F2005L02350]
Banking Act 1959
Made	18/08/2005
Tabled	05/09/2005 S	05/09/2005 HR
Summary	Revokes a previous exemption order and provides that certain financial corporations may use the terms ‘bank’, ‘banker’, and ‘banking’ in relation to their business, but only in the expressions ‘merchant bank’, ‘merchant banker’, and ‘merchant banking’.

Currency (Royal Australian Mint) Determination 2005 (No. 3) under s. 13A(1) of the Currency Act 1965 [F2005L02342]
Currency Act 1965
Made	16/08/2005
Tabled	05/09/2005 S	05/09/2005 HR
Summary	Specifies the design and characteristics of several coins.

Income Tax Amendment Regulations 2005 (No. 6) Select Legislative Instrument 2005 No. 195 [F2005L02271]
Income Tax Assessment Act 1936
Made	18/08/2005
Tabled	05/09/2005 S	05/09/2005 HR
Summary	Correct an error in the Principal Regulations concerning the formula for the rebate threshold for single senior Australians.

Life Insurance (Prudential Rules) Determination No. 2 of 2005 under s. 252(1) of the Life Insurance Act 1995 [F2005L02401]
Life Insurance Act 1995
Made	26/08/2005
Tabled	06/09/2005 S	05/09/2005 HR
Summary	Specifies revised prudential rules applying to life companies other than friendly societies.

Life Insurance (Prudential Rules) Determination No. 3 of 2005 under s. 252(1) of the Life Insurance Act 1995 [F2005L02474]
Life Insurance Act 1995
Made	26/08/2005
Tabled	06/09/2005 S	05/09/2005 HR
Summary	Specifies revised prudential rules applying to life companies that are friendly societies.

Non-Confidentiality Determination No. 8 of 2005 under s. 57 of the Australian Prudential Regulation Authority Act 1998 [F2005L02319]
Australian Prudential Regulation Authority Act 1998
Made	16/08/2005
Tabled	05/09/2005 S	05/09/2005 HR
Summary	Provides that information provided by locally-incorporated banks and foreign authorised deposit taking institutions under Reporting Stadard ARS 320.0 (2005) is non-confidential.

PAYG withholding — special tax table for payments to individuals performing work or services in the Joint Petroleum Development Area (JPDA) as defined in the Timor Sea Treaty under s. 15-25 of Schedule 1 to the Taxation Administration Act 1953 [F2005L02407]
Taxation Administration Act 1953
Made	29/08/2005
Tabled	05/09/2005 S	05/09/2005 HR
Summary	Specifies a revised withholding schedule governing a certain class of employee.