The term "approved stock exchange" is used in various places throughout the income tax laws and affects, amongst other things, whether companies are "widely held" for the purposes of the tax laws. Ensure taxpayer certainty by updating the list of approved stock exchanges in Schedule 5 to the Income Tax Regulations 1997 so as to take account of acquisitions and/or name changes of stock exchanges previously on the list.
This idea was submitted to the Board prior to the launch of Sounding Board. The Board understands that the proposal has the potential to increase certainty for affected taxpayers and provides the opportunity to add efficiency to the tax system.
24 June 2018
The current list of approved stock exchanges has been updated. To view the latest list visit: https://www.legislation.gov.au/Details/F2018L00831
https://www.legislation.gov.au/Details/F2018L00831
Treasury Laws Amendment (2018 Measures No. 1) Regulations 2018
F2018L00831