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Dr Michael Dirkis FTIA appeared before the Senate Economics Legislative Committee Inquiry into Tax Laws Amendment (2009 Budget Measures No 1) Bill 2009 on Wednesday 10 June 2009. Michael advised the Committee that the Taxation Institute has concerns regarding the proposal to limit the scope of s 23AG, specifically, about the impact of the proposed amendment on:

  • Individual taxpayers: it will add complexity to tax law and administration which will impact unfairly on ordinary Australians working overseas and Australian businesses; and
  • Employers: it will impose additional costs on Australian companies employing Australian residents overseas and therefore reduces their competitiveness.
Given the multi million dollar compliance cost imposition, the Taxation Institute is concerned that there has been no attempt by the Government to mitigate the impact of the new compliance obligations which will arise as a result of this amendment nor deal with the harsh financial effects arising from the interaction between the proposed s 23AG, the Foreign Tax Offset, PAYG, Fringe Benefit Tax provisions and Australia’s tax treaties.

For a copy of the Taxation Institute’s written submission to the Committee go here

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