Last Wednesday 25 January 2012, Peter Murray FTIA chaired a meeting of The Tax Institute’s Corporate Sub-committee.
At this meeting, sub-committee members discussed a number of issues including:
The Tax Institute’s response to Treasury’s discussion paper on Proposed Amendments to the Corporations Act. Members agreed that The Tax Institute’s submission (which can be accessed here) should advocate for clarification of the law to provide greater certainty in relation to the tax treatment of dividends. The Tax Institute’s submission can be accessed here.
- The Tax Institute’s response to the Business Tax Reform Working Group’s interim report on reforming the tax treatment of losses. Members agreed that The Tax Institute’s submission on this report should note that informed and thorough consultation on this subject is only possible once further information in relation to the revenue impact and proposed offsetting revenue raising measures is made available. The Tax Institute will be lodging this submission in the following weeks.
- Members agreed that ongoing concerns with the ATO’s views in relation to the responsibilities of a public officer in the context of tax compliance activities (as expressed in the Decision Impact Statement on the GE case which can be accessed here) should be raised at the March meeting of the NTLG.
Members who seek further information in relation to the above are encouraged to contact us at Tax Policy.