With respect to the Assistant Treasurer’s trust reform announcement at The Tax Institute's National Convention, The Tax Institute was quoted on Saturday 5 March 2011 in The Age: "Shorten to alter family trust law" and the Sydney Morning Herald: “Tax is good, Shorten says”. The Tax Institute welcomes the Government’s announcement as a positive first step along the road to simplified trust tax laws that will benefit thousands of taxpayers. This announcement and the accompanying consultation paper is a welcome outcome as a result of sustained arguments by the Tax Institute over many months. To view our press release, click here.
On the same issue, The Tax Institute was quoted in the Australian Financial Review on Monday 7 March 2011: "Hard line on taxing of family trusts reversed". In the article, the Tax Institute says that there is still a lot of work to do to fix the tangled ball of string that is the trust tax provisions and welcomes the changes as great first steps.
The Tax Institute is extensively quoted on the Tax Agent Services Regime and Financial Planners in the Financial Planning magazine on Monday 7 March 2011: "Still no clarity as tax agent deadline approaches". To view the article, click here.
The Tax Institute was interviewed by ABC Radio (Queensland) on Monday 7 March 2011 in relation to the increases in non lodgment, defaults on ATO debts and the two-speed economy.