Joint submission on the use and effect of State Revenue Office (SRO) website guidance and rulings

This joint submission has been prepared by Chartered Accountants Australia and New Zealand, the Law Institute of Victoria, the Property Council of Australia, The Tax Institute, Tax and Super Australia and the Urban Development Institute of Australia (Signatories).

The Signatories write to express concern and make recommendations about the practice of relying on website guidance to set out how the Commissioner of State Revenue (Commissioner) intends to apply Victorian taxation and duties legislation (Website Guidance). Examples of substantive Website Guidance issued by the State Revenue Office (SRO) include its website pages in respect of the economic entitlement regime, the off-the-plan duty concession, and foreign purchasers of property.

We also express concern about the diminishing use of public rulings and limited use of private rulings. 

Below we: 

(a) outline the benefits and drawbacks of Website Guidance generally;

(b) raise concerns about particular issues which are currently the subject of Website Guidance;

(c) raise concerns about the diminishing use of public and limited use of private rulings; and

(d) make recommendations as to how the current Website Guidance and private ruling system could be improved. 

We would welcome the opportunity to engage further with the SRO and the Department of Treasury and Finance on these issues.

    


Submission prepared by:

Chartered Accountants Australia and New Zealand, the Law Institute of Victoria, the Property Council of Australia, The Tax Institute, Tax and Super Australia and the Urban Development Institute of Australia

Submitted to:

Mr Paul Broderick PSM
Commissioner of State Revenue
State Revenue Office

Mr Tim Pallas MP
Treasurer
Department of Treasury and Finance Victoria

For more information, contact:

Julie Abdalla, FTI
Tax Counsel, The Tax Institute
(02) 8223 0058

Published: 24 June 2022

Tagged
  • State & indirect taxes
  • State taxes
  • Administration
  • Landholder duties
  • Private Rulings
  • Public Rulings
  • Transfer duties