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.
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 Our submission relates to the following three documents (Draft Guidance) issued for consultation to the ATO Working Group on 28 June 2018, including: Definition of professionals; Commercial Rationale; and High Risk Factors. We have extracted a copy of the Draft Guidance issued by the ATO in relation to the above in the Appendix.
14 Aug 2018
The Tax Institute refers to the opportunity to make a submission to Treasury in relation to the Treasury Laws Amendment (Making Sure Foreign Investors Pay Their Fair Share of Tax and Other Measures) Bill 2018: Integrity measures Exposure Draft (Exposure Draft) released for consultation on Tuesday, 7 August 2018. The Tax Institute is disappointed with the one-week consultation period for the Exposure Draft. Given the importance of these issues and the potential impact, a full consultation period of at least four weeks should have been provided.
06 Aug 2018
The Tax Institute welcomes the invitation to make a submission to the Board of Taxation in relation to its review of the small business tax concessions. We consider that there are two key issues in relation to the small business tax concessions that need to be addressed - a lack of simplicity and efficiency.
The complexity in relation to applying the concessions gives rise to high compliance costs and in turn can encourage complex structuring. We have made some general comments in relation to the small business tax concessions and specifically in relation to the small business CGT concessions below. We have also provided responses to the questions posed in the Consultation Guide where possible.
30 Jul 2018
The Tax Institute considers that the taxation of car fringe benefits needs to be reviewed in light of the outcome in FCT v Qantas Airways Ltd  FCAFC 168 (Qantas). The issues we have noted cannot be resolved by administrative means, so in this regard we have made several recommendations for legislative amendments.
25 Jul 2018
The Tax Institute, Chartered Accountants Australia and New Zealand, Corporate Tax Association, the Group of 100 and the Business Law Section of the Law Council of Australia (Joint Bodies) welcome the opportunity to make a submission to the Australian Taxation Office (ATO) in relation to the Practical Compliance Guideline PCG 2018/D3 – Income Tax: central management and control test of residency: identifying where a company’s central management and control is located (Draft PCG).
Our submission addresses our main concerns in relation to the Draft PCG. In particular, the interpretation being given to the corporate residency test; Technical issues with the Draft PCG; and Requirement for a further review of the corporate residency test.