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In a media release issued on 8 August 2014, the Treasurer, Joe Hockey, announced that the ATO and the Tax Practitioners Board, amongst others, had responded to the Government's Statement of Expectations by each issuing a Statement of Intent.

Mr Hockey said that the Statements of Expectations clarify that while it is imperative that regulators act independently and objectively, the Government expects that regulators take into account its broad policy framework, including its deregulation agenda.

Accordingly, the Statements of Intent reflect the regulators’ commitment to the Government’s red tape reduction agenda - which will reduce business costs and simplify the investment environment.

For a copy of the media release and links to all Statements, go here

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