13 May 088 Update on Rudd Government's attitudeIn a joint media release issued on 13 May 2008, the Treasurer, Wayne Swan, and the Assistant Treasurer, Chris Bowen, noted that at the time the Parliament was prorogued, on 15 October 2007, the previous government was still to enact almost 60 announced tax measures. The Rudd Government has been working its way through this stock of announced but unenacted measures with a view to arriving at a decision on each of them and eliminating the considerable uncertainty that exists around them in the community. The table attached to the media release details the stock of unenacted measures, and the Rudd Government’s decision on the majority of those measures.
The Government is also releasing for consultation draft regulations and explanatory statement for one of those measures, to allow the ATO to charge for valuations required in the course of issuing private rulings. The draft regulations and explanatory statement are available from the Treasury website at http://www.treasury.gov.au
In addition, the media release states that the Government will proceed with modifications to the income tax consolidation regime. These changes will clarify the operation of the consolidation regime and improve interactions with other parts of the law. See the media release for more details.
For a copy of the joint press release, No 2008/53, 13 May 2008, go here