19 Jun 09 National Tax Liaison Group (NTLG)Taxation Institute President, Joan Roberts FTIA (Harwood Andrews), Vice President David Williams FTIA and Dr Michael Dirkis FTIA represented the Taxation Institute at a meeting of the NTLG in Canberra, Wednesday 17 June 2009.
A key issue of discussion was the potential impact of Bamford and whether the decision provides sufficient certainty particularly in the respect of the definition of “income”. The sustainability of the PSLA 2005/1 concession for trusts without a definition of income was discussed as were the various avoidance/Part IVA arguments and the potential for further litigation. The second area of focus concerned improvements to the PBR register and the quality of ATOIDs and the links between ATOIDS and the need for more comprehensive advice products (public rulings).
Other issues discussed included:
- the use and management of TIES;
- interpretative issues associated with the “Small business and general business tax break”;
- employee share scheme issues; and
- confidentiality of tax information in Court cases.