In a press release issued on 15 January 2007, the Acting Treasurer, Peter Dutton, announced details of changes to the taxation law arising out of the Government’s Review of Taxation Secrecy and Disclosure Provisions. Tax secrecy and disclosure provisions from 22 different tax acts will be standardised into a new framework within a single piece of legislation. The standardised secrecy framework will maintain existing disclosures, and the ATO will also now be able to release taxpayer information in limited circumstances where the public interest benefits exceed the impact on taxpayer privacy. The new secrecy and disclosure legislation is expected to be introduced into Parliament in 2007. There will be opportunities to provide input on the draft legislation.
For a copy of the Acting Treasurer's press release, No 2007/003, 15 January 2007, go here