04 Sep 09 Joint submission on WETD 2009/D1 (Wine Equalisation Tax and TA 2009/6)On 7 August 2009, a joint submission in respect of WETD 2009/D1 (What are the results for Wine Equalisation Tax purposes for entities engaging in an arrangement described in Taxpayer Alert TA 2009/6?) was lodged with the ATO on behalf of CPA Australia, National Institute of Accountants, the Taxation Institute of Australia, the Institute of Chartered Accountants in Australia and Taxpayers Australia.
The submission states: "The professional bodies are particularly concerned by the approach adopted in the draft determination, as it proposes action being been taken against parties, who are neither beneficiaries of, nor participants in, a scheme to avoid WET and would encourage the Commissioner to rethink the position. In this respect, we wish to record our strong opposition to the basis on which the draft determination proceeds."
For a copy of the joint submission, go here.