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Submissions

The Tax Institute is the most respected and influential contributor to the development of tax policy and administration in Australia. As part of this contribution, we prepare top level submissions on tax policy, administration and technical matters at both Federal and State levels. Non-confidential submissions prepared from 1996 onwards and covering legislation, ATO and Treasury consultative documents and papers, as well as rulings, determinations and a range of other ATO opinion and guideline documents, are available here.

  • Miscellaneous amendments to Treasury portfolio laws 2018

    08 Nov 2018

    The Tax Institute welcomes the opportunity to make a submission to Treasury in relation to the Treasury Laws Amendment (Measures for a later sitting) Bill 2018: Miscellaneous amendments Exposure Draft (Exposure Draft). The Tax Institute seeks to address one matter in the Exposure Draft in relation to the amendment to subparagraph 14-255(1)(b)(i) of the Taxation Administration Act 1953 (Cth) (TAA).

  • Enhancing the integrity of tax deductions in relation to vacant land

    02 Nov 2018

    From 1 July 2019, the proposed legislation will limit deductions for expenses associated with holding vacant land. The measure does not apply to expenses associated with holding vacant land that is used by the owner or a related entity to carry on a business. 

    Members are concerned that the Government has significantly underestimated the scale and scope of arrangements that are going to be affected under the proposed legislation. Further, in our opinion, the proposed legislation creates significant uncertainties. As the law is currently drafted, if land is not genuinely held for the purpose of generating assessable income, the costs are not deductible. In our opinion, the integrity issues should be addressed through better enforcement rather than making the tax system more complex by introducing further legislation.

  • Work test exemption for recent retirees – Draft legislation and regulations

    02 Nov 2018

    The Tax Institute welcomes the invitation to make a submission to Treasury in relation to the Government’s work test exemption for recent retirees. The stated objective to the proposed legislation and regulations is to provide a one‑year exemption from the work test for superannuation contributions, to allow recent retirees to boost their superannuation balances.

  • Discussion paper on issues concerning earnout arrangements

    01 Nov 2018

    The Tax Institute is concerned with the approach the ATO is taking to earnout arrangements and interpreting earnout rights as if they create a ‘separate asset’ and, in particular, that this would create differing tax outcomes in respect of earnout arrangements. The Tax Institute does not agree with this position. Our submission addresses the questions in the Discussion Paper with this in mind.

  • Draft LCR 2018/D7: Base Rate Entities and Base Rate Entity Passive Income

    05 Oct 2018

    The Tax Institute welcomes the opportunity to make a submission to the Australian Taxation Office in relation to the Draft LCR 2018/D7: Base Rate Entities and Base Rate Entity Passive Income (Draft LCR). Our submission below addresses our main concerns in relation to the Draft LCR. In particular, we have made comments in relation to certain definitions used in the Draft LCR; some of the examples in the Draft LCR; and some minor comments in relation to some of the guidance documents referred to in Appendix 1 of the Draft LCR.

  • The Tax Institute Superannuation Reforms Priority List – Proposed solutions

    03 Oct 2018

    Further to a Superannuation Reforms Priority list we submitted to Treasury and the ATO on 21 June 2018 (refer Annexure A), and a meeting with Treasury and the ATO on 1 August 2018 - The Tax Institute has suggested solutions in relation to the reform issues we raised in our Superannuation Reforms Priority list. The purpose of this letter is to outline our suggested solutions in relation to the legacy pension issue raised in our Superannuation Reforms Priority List.

  • PCG 2018/D6

    21 Sep 2018

    The Tax Institute welcomes the invitation to make a submission in relation to Practical Compliance Guideline PCG 2018/D6: The Commissioner's discretion to extend the two-year period to dispose of dwellings acquired from a deceased estate.

  • Three-yearly audit cycle for some SMSFs

    03 Sep 2018

    The Tax Institute welcomes the invitation to make a submission to Treasury in relation to the ‘Three-yearly audit cycle for some self-managed superannuation funds’ Discussion Paper dated July 2018 (Discussion Paper). The Tax Institute does not support the proposal for a three-yearly audit cycle for SMSFs and has detailed the reasons within this submission. The Institute considers other alternatives should be investigated to achieve the objectives of reducing red tape and compliance burdens for SMSF trustees. 

  • Designing a Modern Australian Business Number System

    31 Aug 2018

    The Tax Institute welcomes the opportunity to make a submission to Treasury in relation to the Designing a Modern Australian Business Number System Consultation Paper (Consultation Paper). A review of the Australian Business Number (ABN) system is supported. The use of an ABN has evolved considerably since its role as a core element of the introduction of the GST almost 20 years ago with the evolution of the economy and the increasing flexibility of the workforce. Our submission below addresses our main concerns in relation to the Consultation Paper. We note some general comments on certain aspects of the proposal to modernise the ABN system and a recommendation for the definition of “carrying on an enterprise” be the same for both the application for an ABN and applying for GST registration.

  • Allocation of profits in professional firms – Gateway issues

    16 Aug 2018

    The Tax Institute has made a submission to the Australian Taxation Office in relation to the issues currently being considered by the ATO Professional Firms Working Group. Our submission relates to the following three documents (Draft Guidance) issued for consultation to the ATO Working Group on 28 June 2018, including: Definition of professionals; Commercial Rationale; and High Risk Factors. We have extracted a copy of the Draft Guidance issued by the ATO in relation to the above in the Appendix.