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10 Sep 12 2 Board of Taxation reports released

In media release No 2012/097, issued 6 September 2012, the Assistant Treasurer and Minister Assisting for Deregulation, David Bradbury, announced the release of the following 2 Board of Taxation reports:

In the Post-Implementation Review of the Tax Design Review Panel's Recommendations, the Board made 19 conclusions and recommendations focusing in particular on the timeliness of legislation, the quality and quantity of consultation, and the involvement of the private sector in the tax design process. The Government has agreed to 11 of the Board's recommendations, agreed in principle to one recommendation and noted the remainder of the Board's recommendations.

Full details of the Government's response are set out in Attachment A to the media release.

The Board's Review of the Tax Issues Entry System examined the pilot of the Tax Issues Entry System (TIES), as recommended by the Tax Design Review Panel in its report Better Tax Design and Implementation, with particular reference to the visibility of TIES in the community and the communication processes associated with it.

TIES is a single entry point for tax professionals and the broader community to raise minor policy and administrative issues relating to the care and maintenance of the tax and superannuation systems.

The Board of Taxation made 7 recommendations in its report. The Government says it appreciates the work undertaken by the Board and has noted all of the Board's recommendations.

Full details of the Government's response are set out in Attachment B to the media release.

 


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