07 Apr 09 IGOT announces review into Private RulingsIn a media release issued on 6 April 2009, the Inspector-General of Taxation (IGOT), Ali Noroozi, announced the release of the Terms of Reference and Consultation Plan for his inquiry into the ATO's administration of private rulings.
Mr Noroozi said: "Taxpayers and tax practitioners have stated that they have concerns with the Tax Office's administration of private rulings including the time it takes to issue these rulings and the extent to which their contents are binding...Submissions would be welcomed on any aspect of the private rulings system including its costs, usefulness in the tax system overall, the timeliness of private rulings, the relationship of private rulings to ATOIDs and the possible impacts on the private rulings system of the ATO's Change Program."
Submissions should be focussed on the terms of reference for the review and should be received by 15 May 2009.
For a copy of the IGOT's media release, 6 April 2009, go here.
For a copy of the Terms of Reference and Consultation Plan, go here.