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20 Jul 12 The Tax Institute in the Media

The Tax institute was quoted on 14 July in The Weekend Australian: ‘Slimming down our cumbersome tax system will take more than a few nips and tucks’. In the article we say a simpler tax system will benefit tax professionals because their efforts can shift from dealing with tax complexity to areas of much higher value-add for their clients.

On 17 July we were quoted in the Financial Review: ‘Henry asks if mining tax is ‘worth it’’ in relation to congestion charges. In the article we say that congestion charges could replace vehicle stamp duty and third-party insurance.

We were also mentioned on 18 July in the Sydney Morning Herald: ‘$1.9b of taxes the prize in profit-shifting crackdown’ with regards to our transfer pricing Parliamentary Committee submission criticising the retrospective nature of the changes.

Again on 18 July we were quoted in Smart Company: ‘Tax office issues alert signalling its intention to crack down on family business share arrangements’.

On 19 July The Tax Institute received extensive media coverage commenting on the ATO’s Compliance Program 2012-13.  Robert Jeremenko was interviewed live on both ABC News Breakfast TV  and SkyNews Business TV.  He was also interviewed by ABC radio Sydney and Melbourne, ABC Darwin, ABC South East Queensland, and on Ross Geenwood’s MoneyNews radio program on 2GB.  ABC news online also reported our comments.

Press coverage included: The Sydney Morning Herald & The Age: ‘Taxman sips at the froth on the coffee’, the Herald-Sun: ‘The bean counters’ and Smart Company: ‘ATO REVEALS 2012-13 TARGETS: SMEs warned over contractors, GST and trusts’, ‘ATO REVEALS 2012-13 TARGETS: Less audits but still a crackdown on individuals' expense claims’.

With regards to the Government’s consultation paper on the carry-back losses measure, we were quoted in the Financial Review of 19 July: ‘Government may tighten tax loss benefit’ and in Smart Company: ‘Tax experts warn new rules for loss carry-back scheme could mean fewer companies benefit’ in regard to our surprise that the COT and SBT integrity rules are being considered in relation to the new measure.

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