The Treasurer announced on 10 October 2006 a review into the rules to be conducted by the Board. The Treasurer asked the Board to identify ways to reduce the complexity and compliance costs associated with these rules, including whether the regimes can be collapsed into a single regime, and to examine whether the regimes strike an appropriate balance between effectively countering tax deferral and unnecessarily inhibiting Australians from competing in the global economy.
The Board welcomes submissions on the issues raised in the discussion paper. The closing date for submissions is 6 July 2007.
For a copy of the Board's press release, No 15, 25 May 2007, go here
For a copy of the Discussion Paper, go here