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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.

  • The Tax Institute Submission | PCG 2021/D2 Allocation of professional firm profits – ATO compliance approach

    06 Apr 2021

    CPA Australia, Chartered Accountants Australia and New Zealand, Institute of Public Accountants, the Business Law Section of the Law Council of Australia and The Tax Institute (together, the Joint Bodies) have considered draft PCG 2021/D2 Allocation of professional firm profits - ATO compliance approach (the draft PCG). The following comments represent our general collective views on the draft PCG, and these will be complemented with more specific, separate submissions from our respective associations, member firms and members.

  • The Tax Institute Submission | Draft Taxation Ruling TR 2021/D1: Income tax and fringe benefits tax

    06 Apr 2021

    The Tax Institute welcomes the opportunity to make a submission to the ATO in relation to the draft Taxation Ruling TR 2021/D1, Income tax and fringe benefits tax: employees: accommodation and food and drink expenses, travel allowances, and living-away-from-home allowances and the draft Practical Compliance Guideline PCG 2021/D1, Determining if allowances or benefits provided to an employee relate to travelling on work or living at a location.

    This submission was developed in close consultation with The Tax Institute’s FBT & Employment Taxes Technical Committee in order to obtain a breadth of views on issues that impact our broader membership.

  • The Tax Institute Submission | NSW Property Tax Proposal

    16 Mar 2021

    The Tax Institute welcomes the opportunity to make a submission in response to the New South Wales (NSW) Government’s proposal to replace stamp duty and land tax with an annual property tax, contained in its consultation paper, The NSW Budget 2020-2021; Buying in NSW, Building a Future; Creating Jobs and Securing Our Future (Consultation Paper).

    We have consulted with our technical committees in the development of our submission and we recognise a diverse range of views on the merits of an annual property tax throughout our committees and the broader membership of The Tax Institute. Our submission seeks to provide feedback on further issues which should be considered on the basis the NSW Government proceeds with the proposal.

  • The Tax Institute Submission | Review of CGT Rollovers – Comments on Second Consultation Paper

    15 Feb 2021

    The Tax Institute refers to the Board of Taxation’s (Board) review of the capital gains tax (CGT) rollover provisions contained in the Board’s Second Consultation Paper of December 2020 (Consultation Paper). The Tax Institute welcomes the opportunity to make a submission to the Board in relation to the Consultation Paper.

    In preparing this submission, The Tax Institute has consulted with its Large Business & International Technical Committee and its SME and Tax Practitioner Committee to obtain a breadth of views on the Consultation Paper. This submission incorporates feedback received from members of these Committees.

  • The Tax Institute Submission | Submission on Taxpayer Alert TA 2020/5

    15 Feb 2021

    The Tax Institute welcomes the opportunity to make a submission to the Australian Taxation Office (ATO) in relation to Taxpayer Alert TA 2020/5 – Structured arrangements that provide imputation benefits on shares acquired where economic exposure is offset through use of derivative instruments (the Taxpayer Alert).

    This submission focusses on a number of key aspects which are explained in greater detail below:

    • The ATO should provide further clarity on the particular circumstances in which the use of derivative arrangements is of concern and should also provide guidance on the circumstances in which the use of derivatives does not give rise to concern (refer Section 1);
    • Example 4 should be removed or modified as its scope is too broad and is likely to capture arrangements commonly entered into for commercial reasons unrelated to tax (refer Section 2); and
    • The ATO should clarify its position on the calculation of delta for the purposes of the qualified person rules. As set out below, we submit that delta must be on a portfolio basis (refer Section 3).

    In preparing this submission, The Tax Institute has consulted with its Large Business & International Technical Committee, SME & Tax Practitioner Committee and its Superannuation Committee to obtain a breadth of views on the Taxpayer Alert. This submission incorporates feedback received from members of these Committees.

  • Joint Bodies Submission | Delaying the proposed start date of Single Touch Payroll Phase 2

    03 Feb 2021

    The Joint Bodies are committed to the successful implementation of Single Touch Payroll (STP) Phase 2, however for the reasons below, digital service providers, intermediaries and employers are not in a position to meet the proposed 1 July 2021 start date.

    We therefore seek a deferral of the start date to 1 July 2022. Such an extension will help to ensure that the data submitted through STP 2 to the ATO, and subsequently shared with Services Australia and others, is more likely to be accurate and able to be relied upon by Government.

  • Joint Bodies Submission | Full expensing of depreciating assets and small business entity pooling

    03 Feb 2021

    Our submission below addresses our main concerns, and that of our members, in relation to the recent legislative amendments contained in Schedule 1 to the Treasury Laws Amendment (2020 Measures No. 6) Act 2020 (the amendments).

    The amendments are intended to provide businesses with flexibility to choose whether to apply the new full expensing of depreciating assets (FEDA) measure on an asset-by-asset basis. However, this flexibility is not available to small business entities (SBE). By the operation of the law, SBEs are required to fully expense their general small business pool (pool) balances on 30 June 2021 and cannot choose not to write off the pool balance.

  • The Tax Institute Submission | Federal Budget 2021–22 Submission

    29 Jan 2021

    The Tax Institute welcomes the opportunity to make a submission in response to the call by the Minister for Housing and Assistant Treasurer, the Hon Michael Sukkar, on 27 November 2020 for such submissions from individuals, businesses and community groups on their views regarding priorities for the Federal Budget 2021–22.

  • The Tax Institute Submission | Education and training expense deductions for individuals

    21 Jan 2021

    The Tax Institute welcomes the opportunity to make a submission to the Government in relation to the December 2020 discussion paper ‘Education and training expense deductions for individuals’ (Discussion Paper), as announced in the Federal Budget 2020–21.

    The Tax Institute has reviewed the Discussion Paper. Our submission below addresses our main concerns in relation to the proposed measures to allow individuals a deduction for education and training expenses, where the expense is not related to their current employment.

  • The Tax Institute Submission | Your Future, Your Super package

    23 Dec 2020

    The Tax Institute welcomes the opportunity to make a submission to the Government in relation to the ‘Your Future, Your Super’ package of proposed reforms to the superannuation system, as announced in the Federal Budget 2020–21.

    The Tax Institute, together with our National Superannuation Technical Committee, have reviewed the relevant exposure draft legislation and explanatory materials. Our submission below addresses our main concerns in relation to the exposure draft of the Treasury Laws Amendment (Measures for a later sitting) Bill 2020: Best Financial Interests Duty (Draft Bill). In particular, the proposed provisions relating to the prohibition on certain payments and investments and the associated civil penalties.