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New tax administration provisions presentation

Published on 06 Dec 05 by VICTORIAN DIVISION, THE TAX INSTITUTE

This presentation provides an overview of the significant administrative amendments encapsulated in TLA (Improvements to Self Assessment) Bill (No 2), TLA (Improvements to Self Assessment) Act (No 1) including:

  • a reduction in the amendment period for Part IVA assessments
  • loss returns deemed to be assessments
  • the replacement of the current ruling system
  • the new ruling system including the ability to fast track rulings and a broadening of the types of issues that can be dealt with in private rulings
  • shortfall interest charge (SIC) for pre-amendment periods
  • objection, review and appeal rights on certain SIC remission decisions.

Author profile:

Anthony Riordan CTA
Tony Riordan, CTA, is a Tax Partner at Riordans Lawyers in Melbourne, a boutique commercial law firm. He has degrees in Law and Commerce and a Masters in Taxation Law from Melbourne University. His areas of practice include SME structuring, estate planning for high wealth individuals and transaction structuring. Current at 23 April 2014 Click here to expand/collapse more articles by Tony RIORDAN.
 
Individual sessions

New tax administration provisions

Author(s):  Tony RIORDAN

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