27 Jan 11 Preamble - 28 January 2010It's a case of another day, another consultation. The Government has been busy issuing one media release after another in respect of a raft of proposed changes ranging from minor technical amendments to whole sale reviews.
Last Friday saw the announcement of a Consultation on the design of the Tax System Advisory Board (TSAB).
We broadly welcome the Government's efforts to honour their election commitment, and acknowledge the positive role that the TSAB will play in improving tax administration. However, the road to a simpler and more efficient tax system is unlikely to detour through a Consultation Panel to advise the Government on proceeding with the consultation on establishing an Advisory Board which will advise the Tax Commissioner and his Executive Committee on how to manage and organise the Tax Office.
We will soon submit our pre-Budget submission to Treasury calling on the Government to encourage robust debate at the upcoming Tax Summit and make a substantial commitment to effecting real tax reform towards a simpler and more efficient tax system. Any comprehensive debate about tax reform must of course include consideration of the GST. While the myriad consultations announced by the Government of late are of course welcomed by the tax community, piecemeal reforms are insufficient to address the significant challenges and shortfalls in our current tax system.
Please see below for other activities this week.
Robert Jeremenko FTIA