11 Feb 08 Tax Design Review Panel establishedIn a media release issued on 8 February 2008, the Assistant Treasurer, Chris Bowen, announced the appointment of a Tax Design Review Panel that will be charged with examining how to reduce delays in the enactment of tax legislation and improve the quality of tax law changes. This forms part of a key election commitment to streamline the process of introducing tax legislation and comes in response to community and business concern on the lack of certainty created by the former government's failure to implement announced changes to taxation law in a timely fashion.
In conducting the review, the Panel will examine:
- options to reduce the delay between the announcement of proposed changes to tax laws and the introduction into Parliament of associated tax legislation;
- how the quality of the law can be improved through enhanced community consultation, particularly in the development of tax policy changes prior to the announcement of specific changes; and
- methods to increase community input into the prioritisation of changes to tax laws.
The Tax Design Review Panel will be chaired by Mr Neil Wilson FTIA of PriceWaterhouseCoopers and comprises Mr Duncan Baxter FTIA of Blake Dawson and Mr John Morgan FTIA of the Victorian bar along with representatives from the Department of the Prime Minister and Cabinet, Treasury, ATO and the Office of Parliamentary Counsel. The Panel will meet with various stakeholders to garner views and welcomes comments from interested parties.
The Panel will report its findings to Government by 30 April 2008.
For a copy of the Assistant Treasurer's media release, go here