16 Jun 06 What's in a name?MEMBER 2 writes:
"An angst I have with the ATO is the propensity to change the name of familiar terms. Group Certificates became Payment Summaries, Depreciation - Decline in Value. However, a prime attribute to be a successful tax advisor is to adapt to change, so I adapted. In contrast, my clients did not & still have not, despite my best efforts.
However when the Treasurer wished to communicate effectively to the masses, to highlight the benevolence of the Government, he used the vernacular. Treasurer's press release No 41, 9 May 2006 (per 2006 TAXVINE No 16, item (13)) constantly refers to 'depreciation' & 'depreciation deductions'. This is the language taxpayers understand. I see this as an admission that the term 'a deduction for decline in value' is not working. I therefore feel it is counterproductive to persist with this name change.
PS - Even the ATO oscillates between 'Decline in Value' in Capital allowances schedule 2005 & ‘Depreciation Expenses' in Business and professional items schedule for individuals 2004-05 and Capital allowances schedule 2005."