01 Nov 13 Preamble - 1 November 2013
This week the Tax Institute had the opportunity to have a detailed discussion in Canberra with the Assistant Treasurer, Senator the Hon Arthur Sinodinos AO.
I was joined at the meeting by our President, Steve Westaway CTA, Vice-President, Michael Flynn CTA and CEO, Noel Rowland.
Our discussion canvassed a wide range of priority issues including: outstanding unlegislated tax law list; tax white paper; improved consultation for tax changes; deregulation agenda; small business tax issues; superannuation, financial advisers giving tax advice; trust tax reform; Division 7A reform; self-education expenses cap; BEPS; and ATO/Treasury tripartite engagement.
We are following up this meeting with further detailed discussions and correspondence with key advisers and decision makers in the Government. This is a crucial time for the Government, given they are bedding-down the Mid-Year Economic and Fiscal Outlook (MYEFO) that will be released by Christmas this year. It will be the first cut of the nation’s finances since the change of Government and it will reveal the status of many of the tax measures announced by the previous Government.
It will be a busy lead up to the end of 2013.
Robert Jeremenko CTA