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Submissions

The Tax Institute is the most respected and influential contributor to the development of tax policy and administration in Australia. As part of this contribution, we prepare top level submissions on tax policy, administration and technical matters at both Federal and State levels. Non-confidential submissions prepared from 1996 onwards and covering legislation, ATO and Treasury consultative documents and papers, as well as rulings, determinations and a range of other ATO opinion and guideline documents, are available here.

• Exposure Draft Tax Agent Services (Transitional Provisions and Consequential Amendments) Bill 2008

  26 Mar 2009

  As indicated in our previous submissions in relation to the passage of the Tax Agent Services Act 2008, the Taxation Institute supports the introduction of a regime for a properly regulated tax profession and protection for the consumer.

• Inquiry into exposure draft of the legislation to implement the Carbon Pollution Reduction Scheme

  25 Mar 2009

  The Taxation Institute has a number of concerns with both the exposure draft bills and aspects of the design of the CPRS. Although the interface with the tax system is not a primary policy driver, it is still crucial that the tax policy complements and supports the CPRS rather than creating unnecessary compliance costs which reduce the scheme's efficiency.

• Draft Tax Laws Amendment (Small Business and General Business Tax Break) Bill 2009

  10 Mar 2009

  The Taxation Institute supports the general thrust of the draft Bill in providing eligible small businesses with:

  • an additional 30 per cent tax deduction for eligible assets costing $1,000 or more that they acquire from 13 December 2008 to 30 June 2009, and install by 30 June 2010; and
  • an additional 10 per cent deduction for eligible assets costing $1,000 or more that they acquire from 1 July 2009 to 31 December 2009, where they are installed by 31 December 2010.

• Joint professional body submission in relation to Draft Taxation Ruling TR 2008/D8

  06 Mar 2009

  The Draft Ruling replaces Draft Taxation Determination TD 2007/D16 ("the Draft Determination"), which has been withdrawn.  Paragraph 17 of the Draft Ruling notes that, to the extent the ATO's views in that Draft Determination still apply, they have been incorporated into the Draft Ruling.  The Professional Bodies lodged a joint submission on the Draft Determination and, to a large extent, those comments continue to apply to the Draft Ruling.

• Australia’s Future Tax System (AFTS) - Retirement Income Consultation Paper

  27 Feb 2009

  Whilst we appreciate that the scope of the Retirement Paper is to stimulate community input into the AFTS Review Panel's consideration of a broad range of issues relating to retirement income, our comments are focused specifically on issues raised in 3 of the Retirement Paper.

• National Carbon Offset Standard

  27 Feb 2009

  In the past the Taxation Institute has worked closely in consultation with the Parliament of Australia (through Ministers and Parliamentary Committees), the Treasury and the ATO (as well their international counterparts),  regulatory review agencies (including the Board of Taxation, Inspector General of Taxation, the Australian National Audit Office and the Tax Agents' Boards) and State and Territory Revenue authorities.  We also have strong and constructive relationships with other tax professional, industry representative, and academic and research bodies, both in Australia and overseas.

• Carbon Pollution Reduction Scheme White Paper

  20 Feb 2009

  The Taxation Institute of Australia (Taxation Institute) has a number of concerns with the tax policy approach adopted in the Government's Carbon Pollution Reduction Scheme: Australia's Low Pollution Future White Paper (White Paper) released on 15 December 2008. Although the interface with the tax system is not a primary policy driver, it is still crucial that the tax policy complements and supports the Carbon Pollution Reduction Scheme (CPRS) rather than creating unnecessary compliance costs which reduce the scheme's efficiency.

• Optimising Benefits from Native Title Agreements

  17 Feb 2009

  Whilst we appreciate that the broad scope of the Discussion Paper is to generate ideas, stimulate discussion and seek input on how the benefits negotiated through native title related agreements can deliver social and economic wealth for generations of Indigenous people, our comments below are focused on the following taxation issues raised in section 3d, Tax options, of the Discussion Paper.

• CGT rollover for complying superannuation funds with capital losses

  13 Feb 2009

  The Taxation Institute strongly supports the Government's intention to provide CGT rollover relief as a means of reducing the barriers to the merger of superannuation funds.

• Inspector-General’s forward work program

  02 Feb 2009

  The Taxation Institute of Australia (Taxation Institute) is pleased to provide its members' feedback in respect to projects that should be considered for inclusion in the Inspector-General's forward work program.