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In a press release issued on 17 August 2006, the Treasurer, Peter Costello, announced the Review of Taxation Secrecy and Disclosure Provisions and released a Treasury discussion paper outlining a framework for simplifying and standardising the various tax law secrecy and disclosure provisions. The Government is seeking submissions from interested parties on the proposals and issues set out in the discussion paper. Submissions should be sent to Treasury by 29 September 2006.

As a first step, Mr Costello also announced that new legislation was to be introduced into Parliament which will help agencies involved in Project Wickenby to better share information to aid concerted law enforcement. Mr Costello said enhanced sharing of information between the Project Wickenby agencies will assist in the pursuit of those allegedly involved in tax avoidance or evasion.

For a copy of the Treasurer's press release, No 2006/091, 17 August 2006, go here

For a copy of the Discussion Paper, go here and follow the link

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