19 May 066
ATO's Promoter Penalty Co-design Subcommittee
The first meeting of the ATO's Promoter Penalty Co-design Subcommittee (PPCS) of the National Tax Liaison Group (NTLG) was held on 15 May 2006 and the Taxation Institute was represented by Mark Robertson (Sir Harry Gibbs Chambers) and Michael Binetter (Kevin Munro & Associates). As mentioned last week, the main focus of the PPCS is to facilitate consultation with the professional bodies about the ATO's administration and governance arrangements for the promoter penalty measures. Our approach in our consultations with the ATO is to ensure that the promoter penalties regime will only be applied squarely to those to whom it is intended to apply - promoters of tax avoidance schemes. We seek to ensure that our members, who are simply giving tax advice, are not caught in the cross fire and end up as collateral damage.