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.
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Limiting the income tax exemption for Australians working overseas
25 May 2009
The Taxation Institute of Australia has concerns regarding the proposal to limit the scope of s 23AG of the Income Tax Assessment Act 1936 (ITAA 1936) (i.e. the income tax exemption for Australians working overseas) solely to aid, charitable and certain government workers.
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Treatment of certain term subordinated notes as debt for the purposes of the debt/equity tax rules
22 May 2009
The Taxation Institute of Australia (Taxation Institute) is pleased to provide comments on draft Income Tax Assessment Amendment Regulations 2009 (draft regulations) in relation to the treatment of certain term subordinated notes as debt for the purposes of the debt/equity tax rules released for public comment on 22 April 2009.
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Review of Private Rulings Income Tax Matters
21 May 2009
Our Submissions concerning the matters raised in the Terms of Reference and Consultation Plan for the Review into the Tax Office's Administration of Private Rulings are set out below.
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Freedom of Information Reform
19 May 2009
The Taxation Institute supports the policy objectives of the proposed freedom of information reforms outlined in the exposure drafts (‘FOI Reforms'). However, the Taxation Institute is concerned about the following two issues...
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Joint professional body submission in relation to Draft Taxation Ruling TR 2009/D1
13 May 2009
The Draft Ruling is concerned with the application of the foreign income tax offset provisions in Division 770 of the Income Tax Assessment Act 1997 to situations where an Australian entity invests in an overseas fiscally transparent entity.
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Consultation on Proposed Revenue Management System (RMS) Changes – Duties and Payroll Tax
13 May 2009
From the timeframe described in your letter of 21 April 2009, it is understood that this opportunity to consult is confined to the administrative aspects arising from the implementation of the RMS changes. It is assumed that the drafting of legislation is already well advanced and will be tabled in Parliament without the opportunity to comment on its specific provisions.
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Draft A New Tax System (Goods and Services Tax) Margin Scheme Valuation Requirements Determination MSV 200X/1
06 May 2009
As a preliminary note, we support and commend the efforts of the ATO in seeking to address the current uncertainties faced by taxpayers in respect of margin scheme valuations. There has been considerable ambiguity as to the consequences of a valuation not satisfying, in the Commissioner's view, the requirements set out in his margin scheme valuation determinations.
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Submission in response to Australia's Future Tax System May 2009
05 May 2009
The Taxation Institute of Australia ( 'Taxation Institute' ) is pleased to provide the attached submission in response to Australia's Future Tax System Review Panel's ( 'AFTS Review Panel' ) Consultation Paper ( Australia's Future tax System - Consultation Paper ) released on 10 December 2008 for public submissions.
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Exposure Draft Tax Laws Amendment (Confidentiality of Taxpayer Information) Bill 2009
23 Apr 2009
The Taxation Institute welcomes the consolidation and standardisation of the current secrecy and disclosure provisions into the Taxation Administration Act 1953 ("TAA").
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Exposure draft of the Carbon Pollution Reduction Scheme legislation
16 Apr 2009
The Taxation Institute has a number of concerns with the exposure draft bills. 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.
