Publication date: 08 May 06 |
Source: THE TAX INSTITUTE
In advance of Tuesday’s Budget announcement, the Taxation Institute’s new President, Andrew Mills called for real reforms to the drafting and consideration of tax legislation instead of simply changing rates of tax.
'There is a pressing need to stop trying to draft tax law in a way that seeks to express every mechanical concept regarding how the law is to apply and in a way that seeks to attack every last red cent', says Mr Mills.
'The marginal benefit obtained from this approach is at enormous cost to the community in terms of resources devoted to complying with badly constructed legislation', he continued.
'Changing tax rates is far less important than the more fundamental reforms that are long overdue and will reap greater benefits for all.
What we need is a reconsideration of the way that tax laws are drafted and considered by Parliament. We need tax law to be accessible, easier to understand and easier to comply with. This will be of significant benefit to both government and the broader community'.
Andrew Mills became President of the Tax Institute in April this year. Throughout his career, he has been heavily involved in the Tax Reform process and a number of ATO Commissioner’s groups, including the National Tax Liaison Group. He has been a Director at Greenwood and Freehills for a decade.
Prior to his role as President, he held a number of positions with the Tax Institute, including National Treasurer, Vice President, Chairman of the National Technical Committee and NSW State Chairman.
When asked about his new leadership position with the Tax Institute, Mr. Mills commented that he is very proud to being leading the Institute during the next twelve months. 'I am especially looking forward to driving a fundamental shift in how we approach and draft tax law and will be focusing'.