The Tax Institute’s President Peter Murray FTIA, Vice-President Ken Schurgott FTIA and I attended the ATO's National Tax Liaison Group meeting, which had its first quarterly meeting for 2011 on Wednesday of this week. The NTLG is chaired by the Commissioner of Taxation and is the peak consultative forum created to focus on topics of strategic importance to the administration of the tax system. Membership of the NTLG includes senior members of the ATO, representatives of major tax, law and accounting professional associations as well as a representative from the Treasury.
Agenda items for the meeting included:
- ATO approach to imposing penalties for failure to take reasonable care;
- Treasury consultation on draft legislation;
- Tax Issues Entry System;
- NZ residents and temporary visas – interaction with tax provisions;
- Part IVA;
- TFN withholding and closely held trusts; and
- ATO merger & acquisition framework.
I would be happy to discuss the meeting with interested Members before the minutes are prepared and finalised by the ATO. Please contact me at Tax Policy.